FIGHTING TALK!

“For some organisations, the next six months will mean the difference between staying in business or joining the growing list of retailers closing stores or closing doors forever.” (Retail Gazette June 2019)

There are many factors impacting the retail sector, many beyond the control or even influence of any single retailer - leaving retailers, online or on our high streets, facing the fight of their lives!

In the face of such challenges how can retailers grow or at least stand their ground, in the months to come? XCM are working with our retail partners to ensure they are focused on the one thing that truly matters - their customers. We know that any disconnect over the coming days, weeks or months could be critical to the survival of the business.

“Millions of records flow through XCM each day and it’s our challenge to ensure this raw data is refined and made accessible to teams of marketers and retail operators to keep them in the Fight – We are committed to working each day to keep our clients close to each and every customer” (Luke Ibbettson - MD)

This fight will involve everyone across the business - knowing the customer starts with the data but impacts every part of the business - what products do they want and need? How do they shop? – (online, mobile, in store, through a catalogue) – how do we get their attention and drive them to engage? – (personalisation and tailored communications - channel, product, content, offer)...

So how can Retailers stay in the fight – here’s our top 4 initiatives;

1: Mapping the customer data ecosystem – know what data exists that can impact performance

Too often data disconnects or delays are responsible for irrelevant and out of context communications to shoppers - acting on data days, or weeks out of data can only damage your brand and shopper perception

XCM’s experienced team will work with your business to identify any gaps in understanding or capability, qualify their impact on future performance and develop a prioritised roadmap to support the business

2: Segment review

An unwillingness to respond to changing consumer behaviour will detrimentally impact each campaign

Out of date segments and contact strategies negatively impacts performance - let XCM’s analytics and consulting teams work with your business to test your existing segmentation strategy and identify growth or efficiency opportunities in your engagement / offer tactics

3: Channel Optimisation

When every sale matters every pound spent needs to be justified, attribution needs to be employed to know what is real and what is just marketing noise

Our consulting and analytics teams will work to refine the customer journey, defining each step of the journey and driving the campaign investment to where it has the greatest impact

4: Command & Control

Many retailers will not know what’s happened in their business until it’s too late - most senior teams are reliant on out of data processes to be in a position to act when needed.

Clear command and control dashboards are required to gather the insights needed to keep the business on track. Our data team are ready to identify and visualise the key metrics that will reveal behaviours impacting your performance.

Speak with our team now and explore which initiative needs to be your priority.