10 years ago

Using Big Data for the Holidays

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Big data allows you to track individuals using your Web site.
Big data has been touted as something that all businesses could use to make their operations a whole lot better than that of their competitors.  The premise is that you are already gathering a lot of data from and about your customers, so why not farm these tidbits of information, analyze it and gain insights and knowledge about your business, operations and customers?  You could then use these insights and discoveries to make your customers even happier and to attract new people into your store.

So how about something concrete?  How could big data help your business this holiday season?

1. Give them the personal touch.

Big data tells you what your customers have bought before, as well as those things that they browse, the things that they have almost bought but for some reason abandoned during the checkout process, as well as their demographics and social media activities.  You already know what they are interested in, so why not give them a more personalized experience by creating a landing page featuring the things that are of interest to them?  Then tell them where the nearest store is so that they could buy from you!

2. Target customers in real time.

Big data can help you target customers and serve them ads or videos that they are more likely to read or view.  For example, a customer who is trying to check out his shopping cart online might want to learn about a free shipping deal that you are offering if his purchase reaches a certain amount.  Or you could tell customers more about the free gift wrapping service that you are offering loyal shoppers if they are buying items that they do not normally buy, which would indicate that these items are gifts.

3. Cross-selling.

So you already know what your customers are interested in.  This makes it easier for you to find other products that might tickle their fancy.  For example, if they have purchased a t-shirt for the opposite sex several times in the past, why not offer them a special holiday discount for items that are meant for the opposite sex?

4. Customer rewards.

Big data allows you to track individuals using your Web site.  So why not reward them for shopping with you?  That’s not all, though.  If your data tells you that foot traffic at a particular branch or location is slow on a certain day, you can rely on your loyal customers to come in on even the slowest days.

So you have their purchases over time, and you notice that a significant portion of your customer base likes to shop in the afternoon.  Why not urge your loyal customers to shop early?

Let Big Data work for you!

The premise of big data is simple.  It allows your business to go back to a time when customers were few and the business owner knows them personally by name, what they want and when they could be expected to be inside the store.  During the holidays, make them feel like you know them personally by using big data.

If you are ready to do that, call Four Cornerstone today!  We can set up your big data databases as well as help you come up with analytics that enable you take advantage of big data insights, not just during the holidays but all throughout the year!

Photo courtesy of diekave.

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