It can be hard to pinpoint your target market, especially if you don't know their specific attributes or buying habits. This three-step process can help you get smarter about customer targeting.
Pinpointing your target market can be tricky. You may have a general sense of the customers you’d like to attract, but may not have given much thought to the specific attributes or buying habits they possess. Or, your business may have historically targeted broad swaths of the population in an effort to reach as many potential customers as possible, not realizing that isolating a specific type of customer and catering to their needs could actually win more loyalty, more passionate viral communication and better sales.
If you’re considering a new approach and want to get smarter about customer targeting, I recommend following the three-step process below.
https://www.business.com/articles/better-customer-targeting/
Consumer tastes can change on a dime.
The attitudinal undercurrents can be mystifying, difficult to detect, alien to interpret, dangerous to place a sizable bet on, and visible only in retrospect.
Can research help marketers anticipate these shifts and get ahead of the curve to identify trends?
https://www.forbes.com/sites/paultalbot/2018/06/20/keeping-up-with-change-how-marketers-give-customers-what-they-want/
Expresso Fashion and Claudia Sträter are two well-known Dutch fashion brands with stores in the Netherlands, Belgium and Germany. Alongside their more traditional, brick-and-mortar shops, these labels are also sold online. This omni-channel strategy makes it possible for these two webshops to not only serve as sales channels but also platforms for inspiration. Visitors can get their inspiration online and then choose to do their shopping in the webshop or in-store. In other words, their online services are critical to the success of both on- and offline channels.
https://mopinion.com/expresso-fashion-claudia-strater-customer-story/
Stitch Fix, established in 2011 in San Francisco, has disrupted the fashion retail industry. With input from the customer and collaboration between artificial intelligence (AI) and human stylists, the online styling subscription service eliminates the need for their customers to go out and shop for clothing or even browse online, because they deliver personalized recommendations right to their door on a regular schedule. The customers can keep all of the products or return what they don’t like or need. That feedback gets input into the company’s data vaults to make the algorithms even better at determining the preferred style for each person and even identify trends.
https://www.forbes.com/sites/bernardmarr/2018/05/25/stitch-fix-the-amazing-use-case-of-using-artificial-intelligence-in-fashion-retail/#2f7538943292/
The online customer journey in retail is going through a major transformation. Consumers are not only (increasingly) picking up their mobile phones to shop online, but they’re also looking for a more interactive experience with the brand, accompanied by a smooth purchasing process. This is a shift that many suspect will demand more from online retailers, especially in the realm of customer experience. One way of achieving the much sought after sound customer experience is online feedback.
https://mopinion.com/white-paper-how-to-boost-your-retail-website-with-online-feedback/
We are delighted to share that the world’s largest sporting goods retailer, Decathlon, is now using Mopinion’s feedback analytics software. Decathlon hit the ground running with their new online feedback programme in the summer of 2017 with feedback forms on their French and Chinese websites. Pleased with the performance and customer insights obtained via Mopinion’s software, Decathlon is now in the process of rolling out Mopinion software on webshops in twenty-one additional countries!
https://mopinion.com/decathlon-rolls-out-mopinion-feedback-software-in-23-countries/
In a bid to alter the retail landscape with brick-and-mortar stores that offer quicker checkouts and deeper data collection, Amazon with “shop from anywhere” business model is building Amazon Go stores next to the retailers that survive on “shop from somewhere” consumers.
https://www.geospatialworld.net/news/retailers-help-location-intelligence-finding-ways-combat-amazon-go-stores/
Today, many companies market to broad segments because it's more efficient than one-to-one outreach. But each consumer has specific needs and wants. AI promises to fix this.
http://searchcrm.techtarget.com/feature/AI-in-retail-delivers-next-generation-online-personalization/
Major shopping days like Black Friday and Cyber Monday can become make-or-break moments for online retailers. This year, Black Friday shopping was dominated by online sales. Americans spent a record $5 billion online in 24 hours this Black Friday, an increase of 16.9% since last year, according to data from Adobe Digital Insights. On Cyber Monday, Americans spent a blockbuster $6.6 billion online. For e-retailers, this shopping frenzy can mean soaring profits or lost customers, depending on website performance.
http://www.econtentmag.com/Articles/Editorial/Industry-Insights/4-Simple-Steps-Retailers-Can-Take-to-Boost-Holiday-Sales-Through-Web-Optimization-122251.htm/
