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Technology has brought about a 360 degrees change in the way of doing retail business. It has gone far beyond just trading. The definition of marketing has changed drastically from those conventional means to far more specific and far more customized ones.

 

Big Data ensures the availability of ample amount of data through several channels, all at our fingertips. Assortment of the quality data and using it for the right purpose is a challenge indeed!
One of the major uses of this assorted quality data is defining the marketing strategies and introducing the right kind of campaigns for your product.

Marketing Campaign Segmentation:

We segregate the customers as per their frequency of purchase, average purchase price, locality from which they belong, accompaniments, categories of their purchase etc. Marketing campaigns can be customized and segmented as per the segmentation of the customers using the above retail analytics data.

Product Sell-Through Rate:

Retailers can also analyse data related to products or services offered and find which brand, taste, quality and pricing resonate most with current and potential customers. By altering the product packaging and display based on these big data intercepts, retailers can improve sell-through rates.

Marketing Campaign ROI:

For all the campaigns run on a digital platform, either customized or generic, the company shall be able to assess the return on their total investment of the campaign.

Customer Feel Good Factor:

Targeted marketing always brings along a bond between the customer and the retailer. Who doesn’t like to be remembered? It is this recall value that indulges the customer in shopping more often from the retailer thereby increasing the customer loyalty.

Analytics play a pivotal role in defining the strategies for marketing and get the maximum out of it. Targeted spending on targeted customers would in-turn give is the targeted results.

To know more about “how analytics can help you?” get in touch with our Retail Experts on [email protected]


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Author Bio

Rupal Agarwal

Chief Strategy Officer

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