Migration Analysis Is for Customers, not for Birds
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."
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?