Customer Insight – understanding & retaining your digital customers
The customer shift towards digital or multiple channel engagement was accelerated by the Covid crisis. Consumers that had never used digital before Covid, now classify as loyal online customers, and organisations that last year were proudly “face-to-face only” now have fully transactional ecommerce operations.
As businesses start to plan for a post-vaccine, more multichannel world, customers will have greater choice again. Therefore, understanding your customers and how they behave has never been so important. Insight into how your customer segments have changed behaviour during lockdown(s) will allow you to understand these groups, and communicate and target them more effectively, increasing your customer value, and keeping you one step ahead of your competition. For instance:
- How do you keep the new customers that you have gained during lockdown? Do they behave differently? How do they compare with your existing segments? What’s the best way of communicating with them?
- How do you win back your previously loyal customers that may have switched during lockdown?
- How do you target your existing customers and maintain your share of wallet?
We have a wealth of experience over many years using customer data to answer just these kinds of questions. We can deliver strategic insight about your customers, just when it matters most, to allow you to take full advantage of this opportunity.
At Station10 we’re able to work with you to enable you to segment and target your customers better, this analysis will create a digital segmentation for new customers based on current customer behaviour for a post-Covid environment.
By doing this you’ll have increased customer insight and an ability to identify different groups and customer segments, allowing you to communicate and target them more effectively.
The way we approach this is by analysing your digital customer behaviour to identify any differences in patterns of behaviour amongst customers triggered by lockdowns.
- Do new-to-channel customers behave differently to loyal existing ones?
- Are there similarities in these groups?
- Are these changing over time, as lockdowns continue or evolve?
- How do these relate to your existing known customer segments?
We then profile these groups and identify the key characteristics that define them, using data science techniques, focusing on any behavioural trends associated with new customers and how they compare to existing ones.
Please contact David or Russ if you’d like any further detail and how we can help your business get one step ahead on your customer insights.
Some interesting debates to join: