Retail Solutions

Promotional Performance

In the days of the community general store, shopkeepers knew their customers personally and could tailor their offerings to create the most compelling offer at the right price, at the right time. They could also consider complementary purchases based on the shopkeeper’s personal knowledge of a customer’s likelihood to need and buy. That customer-centric view became logistically unfeasible or impossible in the era of global mass marketing, and particularly difficult for retailers who reach customers through remote channels. Nonetheless, customers still expect to be treated personally, immediately and consistently.

How can a retail marketing organization determine the best possible set of offers to present, to which customers, within the bounds of resource constraints, available offers and marketing goals?

Solution Description

A powerful business intelligence solution like Panorama NovaView 5.0, delivers fast, significant return on marketing investment by enabling retailers to conduct measurable, integrated marketing campaigns; maximize customer profitability, acquisition and retention; leverage existing investments in technology; and build a sustainable competitive advantage through the creation of reliable, high-value customer intelligence.

Just a few of the new possibilities include: identifying specific groups of customers to promote to them more effectively; accurately forecasting the sales bump that a specific promotion will have to optimize return on that promotion; identifying the characteristics of top-performing stores to develop new retail locations; and developing, managing and measuring the effectiveness of new loyalty program features.

The result is better service, improved item availability matched to customer expectations; more-focused product promotions targeted at individual preferences, and improved information ― all combining to strengthen the relationship between customer and retailer. Longer-term benefits include lower customer retention costs, greater store visit frequency, and a marked increase in lifetime value for each customer.