Loyalty Economics for Retailers – Moving from Opaque Cost to Clear Profit
Today’s path to purchase is radically different. Consumers shop where they want, how they want and when they want, often with their mobile devices firmly in hand. Consumers are now in charge.
To meet the needs of shoppers and stay ahead in a competitive landscape, retailers realize they must present shoppers with the right offer, at the right time and in the right channel— that is, nanotargeting, where messages are customized and tailored to meet a single consumer’s needs.
While the technology and skill sets are still evolving thanks to the intersection of smart data and advanced loyalty programming, the notion of the one-to-one marketing of nanotargeting is finally becoming a reality. Ultimately, we believe nanotargeting will become the cornerstone of future marketing efforts and retailers will leave mass promotional campaigns, such as flyers, circulars and discounts, behind. Enabled by well-analyzed loyalty data, nanotargeting will become an attractive alternative that increases sales and improves ROI.
