October 11, 2008 12:42 AM
- Text
Migration Analysis Is for Customers, not for Birds
(MoneyWatch) Catalog and online retailers know how to crunch the demographics to find the next set of prospective customers. But here's a twist: Learn how to use those same databases and analytical tools to get existing customers to buy more from you.
Writing in Multichannel Merchant, Bill Singleton of The Allant Group proposes expanding your view of what's called "migration analysis."
Writing in Multichannel Merchant, Bill Singleton of The Allant Group proposes expanding your view of what's called "migration analysis."
The potential in sales response and revenue if you make an offer that does migrate one-category buyers into two and three categories can be dramatic. For example, you could try an offer to your one-category apparel shoppers of a discount on shoes, handbags or jewelry with every apparel purchase they make out of your catalog. You could see a 20 or 30 percent jump in this groups' number of orders and sales.Singleton is addressing catalog and online retailers, whose prospective and current customer information is extensive. But don't let that stop you. Can your store use loyalty or other transaction data to create more enthusiasm among existing shoppers?
Latest Now in MoneyWatch
- Insurers respond cautiously to contraceptive plan
- Judge: Legally, breastfeeding not related to pregnancy
- Budget deficit drops to $27 billion in January
- Why the Powerball Jackpot is part of my investment strategy
- Is the new VW Beetle diesel worth the money?
- Consumer sentiment highlights risks to recovery
- Valentine blues? 10 best cities to be single
- December trade deficit widens to $48.8 billion
- Alcatel-Lucent returns to profit in 2011
- 6 things never to say in a performance review
- $26B mortgage deal: Who gets the money?
- Friendly's CEO steps down
- Quarterly loss hits $3.3B at Postal Service
- Greeks rail against cuts as EU demands more
- 6 things you should never share on Facebook
- Make moves now to increase financial aid
- Valentine's Day: 9 places to save
Latest CBS News Headlines
on Facebook
on CBS News
- Capello: No plans to coach in Italy
- Redknapp flattered by England coach consideration
- FA chiefs meet to consider Capello's successor
- Capello: No plans to coach in Italy
on Facebook
- Adele sings a cappella for Anderson Cooper
- Beyonce and Jay-Z post first photos of Blue Ivy Carter
- Timothy Dolan: Birth control tweak a "first step"
on CBS News






