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The wealth of information in store-level data can be a significant differentiator for retailers – if they know how to use it.

 

10-0989 LinkedIn Critical Insight June 5 R02

 

Loblaws has been in the news recently discussing its strategy to be more relevant and customer-centric. The company has focused heavily on technology in the past decade; one of its latest investments is a point-of-sale (POS) system designed to improve the collection and quality of customer data.

While not everyone has the technology budget Loblaws has, most retailers today have the ability to collect detailed customer analytics – essential to developing insight that can drive significant engagement and sales.

How? Through their own store-level data, collected using common POS software now installed on just about all automated checkout systems.

The crucial differentiator lies in how retailers use the data.

Is it simply feeding into back-end supply-chain systems and being used to create weekly flyers? Or is it being applied more strategically – for example, as part of a geocentric marketing campaign? Geotargeting uses local-area marketing—such as email, direct mail, and in-store signage—to communicate specific offers and product information to the customers of individual stores. The integration reaches shoppers at multiple touchpoints, and the “show me you know me” customization significantly increases relevance.

It’s a powerful and highly feasible tactic. With the technical support of their POS systems, and guidance from the right communications partner, retailers can generate the insight and communication necessary to cut through the clutter and engage customers.

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