Blog. We share our insights and expertise on effectively marketing your bicycle business.
Customer Data is Like Gold
We process customer lists for Trek dealers all over the country. We use custom queries and processes to rank customers by measuring several variables including how often they shop in the store, how much they spend during each visit, and how long it has been from their last visit.
This way we are able to determine the customers in each dealer’s database that are most likely to respond to marketing. When we get great data from dealers, we are able to deliver great results.
Because we process data from around the country, we can maintain an accurate snapshot of how effectively dealers collect customer information.
We measure for each dealer how effectively their salespeople are collecting deliverable address information. It’s not uncommon to see lists that have as low as 30% deliverable contacts or as high as 90%. The average percentage of deliverable contacts for Trek dealers is 65%. Wherever you fall on the spectrum, it is important to understand why this is important in order to sustain or initiate your commitment.
Years ago national trends were steering away from direct mail in favor of email marketing and many dealers stopped collecting customer address information. Dealers who followed that trend are now regretting their decision.
Now is the time to start coaching your employees to ask for customer information so you have the data to analyze and learn about the people who shop at your store which will give you the ability to improve your business over time.
Its important to have as many purchases tied to a customer as possible, this makes it easier to analyze and use the data to gain insights about when and what the customer is likely to purchase.
Collecting contact information from as many customers as possible grows your pool of people to select from when sending out direct mail coupons or emails. The more information you have about your customers, the easier it is to decide who to market to and when to do it.
At first, deciding what information is going to be useful and what is not can be a daunting task. Just remember, you can never have too much data. Even if you never use it, data is gold. It can tell you everything you need to know about how customer buying cycles occur in your market and when sales promotions are most profitable.
If you ever have any questions about customer data or data mining for your marketing, feel free to contact us to schedule a free consultation.« Previous