Future of Retail — Customer Engagement

issue 05

Customer engagement is not a straight line, our need for different products and services fluctuates as we go through life.

the chance to reach people at a time when they are likely to make many more major purchases compared to normal. The purchasing power of home movers equates to £12 billion annually across the UK – with those purchases being typically spread across at least 12 months.

MAPPING CUSTOMER ENGAGEMENT AGAINST THE HOMEMOVER PROCESS Customer engagement is not a straight line, our need for different products and services fluctuates as we go through life, both in the short and long term. Life events throw up the biggest changes in these needs, as we’ve discussed. By matching transactional data against our

home mover universe, we create what have affectionately become known as home mover waves. They show when purchasing dips and spikes across several industry sectors as home movers shift from putting their house on the market, through to moving in and beyond. So, for example, furniture buying actually kicks in before people move, DIY happens at the point of moving in, electrical goods are bought a month or more afterwards and, presumably following the stress of the move, holidays become a big purchase between two to six months post-move. For the retailers who have mapped their

own data against our home mover data, this insight has proven invaluable. For a start, they can identify what proportion of their customers are home movers. For example, 20% of bed buyers and 35% of consumer electrical buyers are home movers. By understanding the size of the opportunity that homemovers provide them, they can allocate budget accordingly.

Customer engagement isn’t just

about selling, as we know. If the peak for electricals is four months after the move, the engagement needs to start much earlier. The typical consumer will start to think about a new TV six months before buying one, during which time they are creating their preferences. So, a simple flag on the database when a house is put on the market can act as a major trigger to change the content from selling to inspiration lead.

TARGETING NEW CUSTOMERS ON THE MOVE However, the home mover wave doesn’t only help with customer retention. Where home movers are quantified as a worthwhile opportunity for retailers, they can also target prospects who are moving and go out to get them in exactly the same way. Home mover data can be used across

a wide variety of digital and traditional channels including direct mail, email, programmatic advertising and social media, so brands can reach home movers not only with the right message at the right time, but using the right channel. In our experience, home movers

consistently outperform other retail consumers, remaining at the top of the pile for at least 12 months. Striving for relevancy is essential if we want

to engage customers. Having the best joined up digital/retail journey is important, but it will fail if the content and timing are not relevant to the consumer. Let’s aim to change the meaning of CRM to have conversations that are relevant and measureable!

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