Over Half Of Retailers Struggle To Identify Most Valuable Customers Despite Data

Chris CrumBusiness

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Yes Lifecycle Marketing has a new study out finding that half of retailers are struggling to identify and and engage their most valuable customers, even though they know information like full names, phone numbers, and purchase histories.

It also found that 42% claim their store associates know nothing about in-store customers, which the company says indicates that a lack of consumer knowledge expands to the brick-and-mortar experience in addition to the online world.

"In the retail industry, personalization proves powerful," a spokesperson for Yes Lifecycle Marketing tells WebProNews. "Brands can take personalization efforts further using clienteling, which help retailers build strong relationships with customers using data that indicates their preferences, behaviors and purchases. To differentiate their brand among the rest, retailers must take a clienteling approach, but many fail to do so."

"Clienteling leverages omnichannel customer data to create personalized customer experiences," says Yes Lifecycle Marketing President Michael Fisher. "By utilizing clienteling best practices, retailers can drive more in-store traffic, engagement, sales and loyalty."

Other findings from the study include:

- 13 percent of store associates currently have access to customer data to ensure a successful in-store customer experience.

- 43 percent of retailers leverage social media for customer service.

- 36 percent of employees use past purchase history to personalize their interactions with customers.

- 35 percent of retailers send personalized messages and recommendations across channels.

The company polled about 200 retailers for the study showing that concerns about utilizing available customer data are quite legitimate.

You can find the full study here. Yes Lifecycle Marketing also has an e-book about clienteling available here.

Image via Thinkstock

Chris Crum
Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.