Do you truly know your customers, fellow retail marketers? Sure, you’ve thoroughly examined the industry reports and trend predictions. However, in our information age, it’s easy to focus on educated guesses and forget your customers are actual people! If you’re not paying attention to real world shopper behavior, you could be missing out on some serious opportunities. To help you stay ahead of the retail marketing curve, we’ll break down three reasons why real-world behavior is critical for retailers. So, put down the spreadsheet, and let’s get real.
Know where your audience is, online and offline
A lot of real-world shopper behavior starts in-store instead of online.
85% of all retail sales still happen in physical stores and 56% of shoppers visit a store before making an online purchase (Source: U.S. Census). Whether your shoppers are shopping in-store, online, or a hybrid of the two, the places that people visit help inform more efficient targeting strategies. Focusing on historical real-world behaviors versus more aspirational or browsing can help you hone in on your key audiences.
Get the full picture of your customer
Only 14% of marketers believe that they have a 360º view of their customers (Source: Gartner). GroundTruth can help fill in the gap. Aside from precise targeting, you can unlock audience insights and shopper behavior insights along with campaign performance, to optimize your strategies and maximize your media spend.
The types of audience profiles you want to target are also interconnected with other profile interests such as sports enthusiasts.
Navigate the challenges of price fluctuations
Consumers are paying $445 more per month to buy the same goods and services they did a year ago (Source: Moody’s Analytics). With rising costs, discretionary budgets for many consumers will likely tighten. For marketers, that adds another obstacle to driving conversions. Partnering with GroundTruth means that you’ll have the most precise targeting from the start of your campaign, which can be optimized in real-time based on performance to focus on reaching your goals.
Don’t let fancy predictions based on assumptions fool you, retail marketers! By understanding the real-world shopper behavior, you’ll be able to create more targeted and efficient marketing strategies that will win their hearts, minds, and wallets. With GroundTruth’s access to real-world consumer behavior, like location and purchasing data, you can get the information you need to outmaneuver the competition. So, join the real world insights team and never look back – your customers (and your bottom line) will thank you!
If you’re looking for real-world behaviors that can generate real business results, contact us today!
