How we turned a lack of data into a recipe for increased sales.
While working with a well-known retailer, it became clear that they needed to gain a better quantitative understanding of their customers’ shopping trends.
The challenge was that at the time the retailer didn’t have anything in place that would allow them to gather customer-centric data, nor was there a customer loyalty program that could have captured this data.
We needed a research strategy. We decided to explore data opportunities within our own data and partner network, and identified surrogate measures that could capture the information we were looking for.
We assessed many different variables to better understand the right customer to target.
Our team reviewed hundreds of survey answers to find people who self-identified as customers.
That data was then compiled and used – along with a profiling system we put in place – to find common behavioural shopping traits among self-identifying customers. Finally, we ranked these customers by postal code in each trade area.
Once all the critical data was collected, the retailer had a much better understanding of what their customers’ needs and wants were.