In today’s omnichannel marketplace, traditional lifecycle marketing techniques can still be effective, however enhanced customer insight along the customer lifecycle now allows for more effective targeting. Over 90% of all US retail sales are still transacted in-store, and knowing how customers prefer to engage in the brick and mortar environment is important. In order to maximize ROI, marketers need to segment customers at each point in the five-part in-store process that is described by: discovery, trial, purchase, pickup, and return.
Achieving hyper-personalized 1-1 communication is the goal of all marketing professionals, however not all marketers currently have the tools to achieve this standard. Achieving 1-1 is a marketing journey and making demographic data actionable is a great first step.
Breaking down customers by age group reveals unique preferences for in-store interactions among: Teens, Millenials, Gen-X, Baby Boomers and Seniors. As an example, Seniors have a high preference for brick and mortar at all points along the lifecycle, whereas Millenials have the lowest preference for brick and mortar interaction at all points except for “return”. A chart provided by AT Kearney displacing this information is included below.
The challenge of delivering the right message, to the right customer, at the right time, through the right channel is not insurmountable. It is also not a challenge that marketers will overcome in an afternoon. Use the data you have to understand not only where the customer is along the lifecycle, but who that customer is, and communicate with them according to their preference.
Too often the word “Omnichannel” diverts attention away from the bread and butter of the retail business, which is definitively brick and mortar. Focus on your highest volume channel and empower your customers with the information and capabilities they demand to increase conversion. Investments in online, mobile, and brick-and-mortar are not mutually exclusive. Use the power of the web, and the freedom of mobile, to increase conversions in store. Good Luck!