This year’s holiday data could be the key to better results in 2017
Data-driven campaigns focusing on the individual offer the most exciting marketing opportunity in 2017.
By now, your holiday marketing programs are in full swing and hopefully you are enjoying a significant seasonal boost in revenue. Chances are you’re in the process of adding the finishing touches to next year’s strategy. But before you close the book on 2016, it may be worth pulling together an analysis of this year’s holiday successes to help you increase your results next year.
Data and how it’s being used by big business and government organizations is something of a hot potato. But Econsultancy’s Quarterly Digital Intelligence Briefing: 2016 Digital Trends shows that data-driven marketing that focuses on the individual is currently the most exciting marketing opportunity and that looks set to continue for the next five years.*
Data analysis is a first step in helping us understand our customers and what they want from us. These are some data points you should pay particular attention to in order to use segmentation more efficiently next year:
- Average purchase size or value: How much do your customers spend on a typical transaction? How many units do they purchase? How does that compare to the rest of the year?
- Lifetime value: For repeat customers, knowing how much they spend over time can give you valuable data about their relationship with you. Are they seasonal, loyal or VIP buyers?
- New customer acquisition costs: How much have you spent to acquire each new customer? Do you have a nurture program in place to turn them into repeat purchasers? If you do, what improvements could you make based on this year’s results?
- Retention costs: What do you need to do to keep your customers coming back? How do they compare with acquisition costs?
- Happiness levels: Clarity on customer satisfaction levels can reveal problems and highlight areas where improvements need to be made. Use surveys and reviews to evaluate this.
- Classic demographics: Do the demographic profiles of the customers you are getting tally with who you target? If not, you may need to re-visit your marketing messages and explore additional segments.
How can you use data to become a First-Person marketer?
Pulling the data together is just one part of the equation. The next stage is finding practical ways to apply it in your email marketing campaigns so you can start sending tailored communications to each customer. Here are some ideas:
- Customer profiling: Creating more detailed personas, or at least gleaning a more rounded picture, helps you develop personalized messages and relevant offers.
- Welcome programs: Bring new customers gained over the holiday period further into the fold by offering high-quality content that keeps them coming back for more. Tweak the messaging of your regular welcome program to accommodate for seasonality.
- Nurture programs: Let your existing customers know how much you value their business by rewarding them with exclusive offers and valuable content.
- Medium and long–term planning: Careful analysis of the data gleaned over this holiday period can help you plan holiday campaigns more accurately for 2017.
Current technology makes it easier than ever before to test, track and analyze data that will help you become a First-Person Marketer. So you too can build amazing campaigns that will delight your audiences and generate more revenue.
The data is out there. Why not use it?