What to do before Amazon raises the customer expectation bar

Michael StoneAnalytics & Insights, Campaign, Engagement, Innovation, Loyalty, Pricing Intelligence, Retail, Rewards, Shopper Insights, WiFi Analytics

Loyalty

Amazon is coming, we’re all aware. But have we stopped for a second to think how much they’ll actually raise the customer expectation bar?

How is Amazon raising the bar?

According to the Financial Review, Amazon will train Australians to expect far more – customer-centric, personalised service, relevant and compelling offers and recommendations, fast purchasing and delivery or pick up, and the list goes on.

Australian retailers are worried about the impact Amazon will have on the market and their profits, but there is still time. There is still time if they start now. Our experts at Invigor have been sharing a variety of ways for retailers can prepare for this massive change that is inevitable and coming our way.

How to Get Ahead of the Personalisation Game

CEO of advertising agency Spinach in Melbourne says to AFR:

“First, you need to get good at data and that goes far beyond simply collecting it and managing it. You’ve got to be turning it into actionable insights that put the customer right at the centre of everything you do.”

Well said. That is precisely how we help our customers – retailers, brands and malls. In such competitive, data-driven times, we need to out-Amazon-Amazon.

Start with Data Analytics & Insights

A way to start doing this is by understanding the market, your competitors and your customer. Capturing, analysing, understanding and turning a variety of data from multiple sources into actionable insights is what we do best.

Based real-time pricing and promotional insights across your competitors and deep knowledge of your customers, you’re able to make informed pricing, marketing, merchandising and retail operation decisions based on predictive recommendations which will help identify growth opportunities, drive sales uplift and profitability.

Engage & Reward your Customers in a Personalised Way

In the Age of Amazon, addressing your customers by their names isn’t personalised engagement. You need to know who they are, what they like, what are their preferences, what brands they love and relevant information that will allow you to reach them in a way that will make a difference, that will be relevant, that will make them not only buy, but buy more and keep on coming back to you.

Whether it’s through highly targeted marketing campaigns, offers and promotions (in an automated way to increase productivity and save time), you really need to be rewarding the right customers at the right time with the right content. By having the right customer segmentation strategy and rewards management program in place, you’re able to focus your efforts on the most valuable customers and not only meet, but exceed their expectations which results in customer frequency and spend increase and long-term loyalty.

There is still time to get ahead of the game.

Contact us for a Free Strategy Session with our team of experts.