Company News • 05.09.2014

Customer Centric Marketing Gains Traction, Redefining the Retail Landscape

New White Paper from LoyaltyOne reveals how customer centricity results in increased sales and ROI

Retailers implementing next generation customer centric marketing solutions to deliver customized product and service offerings can see incremental sales increases of up to 4% as compared with traditional customer marketing approaches, according to a newly released white paper from LoyaltyOne.

Titled, The Customer Centric Marketing Revolution: How next-generation capabilities are delivering winning results in the world of personalization, the paper shows how retail marketers are establishing a direct dialogue with customers and delivering more relevant and enticing offers to simultaneously create lasting loyalty and improve margins.

The Customer Centric Marketing Revolution concludes that an enterprise-wide, customer-centric marketing strategy based on a holistic understanding of the customer can deliver impressive results. In LoyaltyOne case studies, response rates range from 10-80%, and returns on investment of 40-150% using customer-centric strategies, compared with 4% response rates and less than 15% ROI for traditional marketing approaches.

“Customers want more relevance in the offers they receive and retailers have traditionally struggled to show positive campaign performance. Deploying a customer-centric marketing approach, retailers attain new marketing opportunities starting with always-on, dynamic, insight-driven and personalized communications that drives innovation and cross-selling, rewards the right customers for the right behaviors and more,” said Graeme McVie, Vice President and General Manager, Business Development, for LoyaltyOne.

The Customer Centric Marketing Revolution suggests a three-phase approach to implementing a new personalized strategy, starting with preparing data and aligning the business. From there, retailers should build their intelligence assets to understand each individual customer’s needs and define integrated marketing strategies. Third, companies should iterate and collaborate to optimize marketing investments across the value chain to deliver wins for the customers, manufacturers and retailers. The result of the effort is retailers seeing significant competitive advantage by finely tuning their analytics platform to create dynamic capabilities that power ongoing personalized marketing activities.

Please visit the following link to download the white paper: www.loyalty.com/customercentricmarketing.

Also available is a short video of Graeme McVie discussing how customer centricity is redefining the retail landscape:

Source: LoyaltyOne

related articles:

popular articles:

Thumbnail-Photo: Robots in retail: producer and salesperson all-in-one at the fully...
15.03.2019   #artificial intelligence #customer retention

Robots in retail: producer and salesperson all-in-one at the fully automated kiosk

Interview with Matthias Krinke, Managing Director of pi4_robotics GmbH

At Berlin’s shopping mall Bikini Berlin, we meet the robot “Gisela”. The robot’s designer Matthias Krinke sat down with us and explained what she can do and revealed what the retail industry can expect from her and her ...

Thumbnail-Photo: Digital Signage Summit (DSS) Europe
07.05.2019   #digital signage #digitization

Digital Signage Summit (DSS) Europe

iXtenso readers receive a 30% ticket-discount!

The two-day event comprises a comprehensive mix of twin-track conference programme; hands-on workshops; exclusive presentations; numerous networking opportunities and a vendor and service supplier exhibition area.In 2019, DSS Europe returns to the ...

Thumbnail-Photo: Top 8 supply chain technology trends in 2019...
07.05.2019   #supply chain management (SCM) #artificial intelligence

Top 8 supply chain technology trends in 2019

Technologies that supply chain leaders simply cannot ignore

Gartner, Inc. has identified the top 8 supply chain technology trends in 2019.Gartner’s top strategic supply chain technology trends have broad industry impact, but have not yet been widely adopted. They might be experiencing significant ...

Thumbnail-Photo: Posiflex: interactive self-service kiosk systems for the POS...
21.02.2019   #kiosk terminals #self service terminals

Posiflex: interactive self-service kiosk systems for the POS

Going through changes and coming out stronger - Posiflex aquisitions

Thumbnail-Photo: Goodbye paper receipts: All documents stored in one app...
16.05.2019   #epos systems #cashpoints, cash register, cash desk

Goodbye paper receipts: All documents stored in one app

What happens when the Receipt Provision Ordinance takes effect? We digitize!

They create a lot of work and endless waste: tons of paper receipts from cash registers end up with customers or the waste bin every day. In early 2020, all consumers must be given a purchase receipt in Germany. That’s what the law mandates. ...

Thumbnail-Photo: Social commerce 2.0: artificial intelligence detects purchase intention...
18.04.2019   #e-commerce #sustainability

Social commerce 2.0: artificial intelligence detects purchase intention

Choosy analyzes fashion trends on Instagram – and redesigns them

The fashion world moves at lightning speed – and more than ever thanks to the rise of social media. In the past, key trends emerged off the runways twice a year during fashion weeks. Now Instagram et al. set the tone daily thanks to feeds of ...

Thumbnail-Photo: E-commerce: AI-powered translations revitalize business...
29.04.2019   #online trading #e-commerce

E-commerce: AI-powered translations revitalize business

Interview with Boris Zielonka, Director Marketing & Sales, Eurotext AG

Retailers who set up an online store can expand their business – especially if they create a multilingual content strategy.As a language and translation service, Eurotext AG supports retailers in this endeavor. From this conversation with ...

Thumbnail-Photo: 3D shop and customer analysis with artificial intelligence...
04.02.2019   #customer analysis #Trade fair special EuroCIS 2019

3D shop and customer analysis with artificial intelligence

Product innovation at EuroCIS: Intenta S1000 people counter

Intenta presents the new Intenta S1000 people counter at this year’s EuroCIS – a new 3D vision sensor for fully automatic intelligent scene interpretations. This retail specialist tracks precise data for customer statistics thus giving ...

Thumbnail-Photo: CIE 2019: Chinas premier B2B trade show
04.03.2019   #e-commerce #event

CIE 2019: China's premier B2B trade show

5th International Internet and E-commerce Expo in Shenzhen

CIE 2019, the 5th China (Shenzhen) International Internet and E-commerce Expo, is the premier B2B trade show in China that focuses specifically on internet technologies and e-commerce as well as the related industries. More than 400 exhibitors ...

Thumbnail-Photo: Toshiba: artificial intelligence for frictionless shopping...
21.02.2019   #self-checkout systems #Trade fair special EuroCIS 2019

Toshiba: artificial intelligence for frictionless shopping

AI, edge computing and smart shelf technology at the EuroCIS 2019

Supplier

SES-imagotag Deutschland GmbH
SES-imagotag Deutschland GmbH
Bundesstraße 16
77955 Ettenheim
AURES Technologies GmbH
AURES Technologies GmbH
Maisacherstr. 118
82256 Fürstenfeldbruck
Elo Touch Solutions NV
Elo Touch Solutions NV
Kolonel Begaultlaan 1C11
3012 Leuven
Intenta GmbH
Intenta GmbH
Ahornstraße 55
09112 Chemnitz
Permaplay Media Solutions GmbH
Permaplay Media Solutions GmbH
Aschmattstr. 8
76532 Baden-Baden
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Casio Europe GmbH
Casio Europe GmbH
CASIO-Platz 1
22848 Norderstedt
CCV Deutschland GmbH
CCV Deutschland GmbH
Gewerbering 1
84072 Au i.d.Hallertau
ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg