Clone Your Best Customers
Retailers know their world is becoming ever more competitive and complex. Facing unprecedented challenges from diminished foot traffic and the growth of online retail sales, retailers are looking for new ways to attract more foot traffic and grow their sales.
While large chain stores have many tools available to them like customer loyalty programs and sophisticated data analysis, most of these are unavailable or unaffordable to independent retail store operators. So how can independent retailers remain competitive and grow their sales? One of the more promising strategies is to increase foot traffic and grow sales at existing store locations by cloning your best customers.
Expanding on a technique we developed for use at shopping centers and downtowns, JGSC created a process for segmenting and cloning the best customers at existing retail stores. Using surveys of existing customers, we segment and rank them based upon how desirable a shopper they are for the retailer. Throughout the process, the retailer maintains complete control over how a “best customer” is defined.
After identifying your best shoppers, we isolate factors about their demographic data and shopping preferences. Then, we use this data to identify pockets of similar consumers in your marketplace. We help attract these new shoppers to the store using offers and enticements that have proven to be effective with your existing best customers.
The result is that independent retailers can identify and target their marketing to potential shoppers that share attributes with their existing best customers. For independent retailers, it’s an affordable and effective way to clone your best customers.