Holiday Marketing Prep—Are all Customers Created Equal?
Need an example? Say a woman buys her husband a new camera for Christmas on a company's website. She is so excited about how much she thinks he will love it, and she thinks all of the great product reviews backs up her purchase decision. She raves about it to all of her friends—over coffee, over the phone, during a shopping trip to the mall. Now imagine how much more effective an email to one of her college sorority sisters a week later offering free shipping/discounts on the same camera would be than a mass blast to the unknown minions. It's timely. It's relevant. It's powerful.
Relationship marketing is critical, and it goes well beyond an email blast or a special offer code on Facebook. Effective relationship marketing cuts through the holiday marketing noise by targeting the right consumer, at the right time, with the right message/offer, through the right vehicle to drive sales. Retail marketers can use their own customer/prospect data to tap purchase influence, and increase loyalty and sales well beyond the holiday rush.
Investing in Influence
To be frank, this is no secret grail—every marketer already has the foundation buried in its exiting customer and sales databases. The beauty of true influence is that each company has a strong influencer base that it could tap to drive more revenue, both during the holiday season and beyond.
However, just segmenting the highest spenders or most frequent customers, or even the seemingly social-savvy mega influencer with 500-plus Facebook friends and an overactive Twitter feed, will not generate the same return as marketing based on true purchase influence. Using Big Data analytics to better understand existing customer and prospect relationships, marketers are able to significantly increase sales conversion rates by marketing to the customers and prospects with higher propensity to respond, purchase and ultimately influence the purchase decisions of others—generating an average lift of two to five times. Connecting the dots in your database and revealing the true real-life social connection helps marketers better reach potential buyers who are more likely to act because their friends have already done so.