- Charlie’s factory was a multi-million dollar store with toys that all the grown-ups seemed to love.
- They had a million registered repeat customers transacting with them every month and they brought in close to 55% of their monies.
- Using an analytics tool, their leader Chuck and their little IT elf John managed to build an awesome model on behavioral segments of customers. Their output was 6 clusters with varied behavior.
- They built a beautiful promotion strategy for different segments and executed them.
Their best customer, Alice walked into the store with that “Exclusive” promotion that she received, with a bunny in tow of course. Chuck had strategized to retain this customer as she was a very valuable one. But Little Tommy from the operations team wasn’t aware of this and the cashier, Ronda or store associate Tim, disregarded the “Exclusive” promotion. Poor Alice was disappointed with the treatment she was given at the store and the bunny…? He took out the Duracell batteries from his behind and chucked it at Tim, vowing never to buy at Charlie’s factory again!
Moral of the story
: Analytics becomes a success story in your organization only when it is executed in a unified and aligned manner, right from the start to the end. Else, you are probably wasting your marketing money and analytics efforts, and worse, your customer’s loyalty.
Here is how you can fix this
: Start empowering your store operations team. They need to know what is relevant to them at the right time and medium. Communicating such complex insights and information through emails is passé and you lose valuable time. All these info needs to be communicated to the store operations team, comprising solely of millennials these days, through their mobiles and apps.
To empower your Store operations team, visit Engage247