Retailers have more customer data than ever before, yet actionable insight is still in short supply.
Whatever your present capabilities in customer analytics—Symphony EYC’s solutions deliver timely, reliable and valuable insight that will help you understand who your most important customers are, and how you should engage with them.
What makes a loyal customer, and what makes loyal customers spend more with you? The ability to answer these questions should be a key objective for leaders in any retail organisation. However, they struggle to define what ‘loyalty’ looks like in their organisation, what drives this loyalty and how best to nurture it.
Symphony EYC’s analytics shows that loyal customers are worth up to ten times more than those who are not loyal. Clearly, it pays to focus your NPD, pricing, promotions, communications, personalised offers and marketing strategies with these customers in mind.
Achieving retail success means putting your customer at the heart of every business decision:
- How do we differentiate stores from local competition?
- Where should we invest on price?
- Which promotion mechanics are most effective for which customers?
- Who should we target via personalised 1:1 communications, when, and through which channel?
- How can we improve coupon and offer redemption rates?
- Which products can we cut from the range without risk of losing sales?
- Which customers are price-sensitive?
To answer questions like these requires deep insight into large and dynamic volumes of sales and customer data. The potential for applying customer data to business decisions is endless, and the intimate customer understanding you will gain can only improve the ROI of your strategic initiatives.
How Symphony EYC can help you
Using your own transactional and loyalty card data, Symphony EYC can help you understand your customers better. We provide smart, intuitive tools that generate insights derived from our unique and dynamic customer segmentation analysis.