This year sure has flown by huh? We’re rapidly reaching November and before you know it, we’ll find ourselves in 2021. Before that however, we must talk about the approaching holiday season.

Wise CRM managers will have started to prep CRMs for the sudden influx of data around the famed golden quarter for retailers.

  • Halloween: 31st October
  • Thanksgiving: The fourth Thursday of November
  • Black Friday: The Friday following Thanksgiving
  • Cyber Monday: The Monday following Black Friday
  • Christmas: 25th December
  • Boxing Day: 26th December
  • New Year’s Eve/Day: 31st December/1st January

By having your databases cleaned and enriched you can outreach to your customers with personalised pre- and post-Holiday marketing to help secure that sale.

Preparing for personalised retail strategies

If you’ve got a small team it can be difficult to run all the necessary processes to maximise the value of your new data. But with the holidays being such a crucial time for retail, you need to do all you can to maximise these data opportunities.

You must be prioritising the management of your CRM in order to facilitate the success of your holiday marketing and retail strategies.

Data cleansing

You might think – is a data cleanse necessary before Christmas? Well if you want to maximise campaign ROI you will want to make sure you’re not wasting spend on resources for dead data.

With the global benchmark for data accuracy standing at 73%, if you send mail out to 1000 contacts, 270 or more will be going straight in the trash. Not to mention if you’re sending out duplicates, this is a big annoyance for your customers and could easily damage your relationship with them.

Data Cleanse Xman

The value of accurate data is huge, as you know, any personalised marketing efforts whether it’s email follow-ups, promotions or direct mailings are going to be much more engaging.

With the knowledge your databases are accurate your marketing teams are free to carry out any pre-Christmas strategies and personalise with the confidence that your data is the right data.

Data enrichment

The other side of the coin is data enrichment. Taking the data you already have and making sure it’s compliant and complete.

Why not review your whole data capture process now?

Appraise all data collection points, identifying improvements and implement changes that ensure a standardised customer experience regardless of where, or when, they choose to engage.

By standardising data collection, you can get the best results from the holiday peak in sales to set yourself up for success in 2021.

Online Shopping

How data can help retailers sell more

1. Onsite Merchandising

Through CRM analysis your marketing team can accurately see what products your customers have been engaging with. Utilising customer engagement metrics off the back of emails can be helpful for optimising the onsite experience and merchandising your site.

It’s not just about what products people are looking at, what are the offers and wording your audience responds to? After sending out an email that results in large sales from a particular product, would adding “10 customer just bought this” on the site improve conversions?

2. Plugging the leak

Emailing a customer a reminder of the products in their recently viewed/ left in their basket can help you pick up any stragglers who may have been on the fence about completing their purchase.

“60-80% of online shopping carts are abandoned before the customer completes a sale.”
Shopify

Emailing a customer a reminder of the products in their recently viewed/ left in their basket can help you pick up any stragglers who may have been on the fence about completing their purchase.

On average a massive 40% of abandoned basket emails are opened and 50% of the customers who engage with the email go through to complete their purchase. Which means through effective CRM management you could increase sales by around 20%.

3. Supplying sales team with knowledge to secure the sale

Christmas is the busiest time of the year for retailers and because of this, retailers have to prioritise adequate staffing. Which can often result in a sudden spike in the number of ‘casual’ short term staff and it Is fundamental to your success that they are brought up to speed as quickly as possible

“44.7% of US consumers said it was important to speak with someone during their final purchase decision.”
BookingBug

Knowledgeable, well-trained sales associates are the differentiating factor for boomers; 62.7% said this was valuable when choosing one business over another.

Knowledgable Employee

With some form of data capture embedded in your online and in-store sales processes, and a well-primed CRM, you can offer your staff data about the purchasing habits of your buyers to inform on how they sell to customers in-store.

4. Pre-Orders

A big trend for eco friendly companies, is a made to order approach to stock. Or even if your business operates on a traditional model, sending out pre-order emails to your mailing lists can help generate demand and interest.

“This allows you to plan and adjust accordingly, managing stock availability across multiple depots, and ultimately into your stores and customers’ hands.”
HSO.com

With increased activity, it’s all too easy to run out of stock on a popular product, or conversely overstock for a promotion that doesn’t prove effective. Listening to the data after an email promotion is the key to you most accurately being able to order the right amount of stock, cut down on wastage and offer your buyers the product they need.

5. Post-Holiday Marketing

With a compiled list of new customer data in your newly cleaned and enriched datasets, you can start to look ahead towards the new year and how to nurture these new leads into long-standing buyers.

L Ast Pic

Product recommendations

You can send out personalised product recommendations that work by analysing behavioural data like past purchases. With each message targeting a specific customer through predictive analytics, you can easily address individual buyers in a manageable way with personalised email messaging.

Predictive content

Or you could take the personalised messaging one step further and use predictive content. Similar to product recommendations, predictive content works by using all of a consumer’s behavioural data to predict what content they would like to see from you, whether that’s blogs, videos, UGC, guides etc. This can help strengthen the relationship between buyer and seller as the customer starts to see you as more than just a retailer.

Conclusion

By planning ahead and optimising your CRM you have laid the foundations for having everything you need for pre and post-Holiday personalised marketing strategies.

If you’d like advice from our specialist database consultants on how to maximise ROI over the holidays, get in touch now.

You can read our blog for more information on after-holiday sales opportunities and see how to leverage your data to work for you.

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