We just got through one of the busiest shopping periods of the year and retail marketers now have a bevy of consumer data at their disposal. Historically, Black Friday marked the kickoff to the holiday shopping season, but this year was different with more retailers starting their discounts earlier and opening on Thanksgiving day. Reuters noted that, according to ShopperTrak, Black Friday sales totaled about $12.1 billion, which was down slightly from last year. However, online shopping set a record. Cyber Monday generated $3.07 billion in online sales according to TechCrunch.
Now the challenge for retail marketers becomes building a strategy to capitalize on the key data points that have been captured, such as Sale Per Square Foot, Average Customer Spend and Stock Turnover Rate, just to name a few. Retailers should remember that direct mail is an effective way to use that consumer data to reach a prospect with a compelling offer that could be redeemed at their store. Many of IWCO Direct’s customers use direct mail campaigns with coupons, gift certificates and other store redeemable offers to help spike sales performance across the holiday season.
It’s important to remember that targeting the right customer with the right offer at the right time is just as essential for a retailer selling from a store as it is for a direct order company or online business. However, when it comes to direct mail there are some key factors to consider. Retailers tend to find that promotional mailings and formats such as self-mailers and coupon packages work well for them, while similar packages do not perform nearly as well in other categories of business.
Using Consumer Data to Drive In-Store and Online Sales
At IWCO Direct, we help retailers use consumer data to locate customers who may be just the right fit for a particular offer and communicate with them directly. The result can be higher levels of foot traffic and greater demand for merchandise promoted through targeted direct mail campaigns. We work with multiple data analytics partners to isolate the ideal prospects within a reasonable driving distance from a store location and help reach them with the most relevant package and offer.
If you’re a retailer with an online store making your way into 2016, consider using direct mail to promote your site and specific merchandise that appeals to customers who are known to shop online, while providing offers that are redeemable at a physical store for those who don’t. Combining these approaches creates a robust direct marketing effort that will give you more “bang for your buck” then you might otherwise expect.
Finally, if you’re using a points-redemption or other loyalty efforts to associate transaction data with customer insight, IWCO Direct may be able to help you create an actionable direct marketing plan that works alongside your traditional efforts for a greater return on investment.
Good luck to all retailers during the remaining holiday shopping season, and please let me know if you would like to discuss how to build upon those sales in 2016 and beyond.
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