In a world where data is everything, retail marketers need to be aware of how their customers are shopping. The easiest way to do that is with customer data, but with so much data out there, how do you choose which ones to pay attention to?
Let's take a look at which customer metrics you should be following.
Retail marketing: 7 metrics to monitor
Retail marketers must know various metrics about their customers to understand their behavior and preferences and ultimately improve their marketing strategies. Some key metrics that retail marketers should be aware of include the following:
Demographic information: This includes basic information such as age, gender, income, and education level. This information helps marketers understand their target audience's characteristics and tailor their marketing efforts accordingly.
Purchase history: Retail marketers should track the purchases made by their customers, including the items purchased, the frequency of purchases, and the amount spent. This information can help identify trends and preferences and also help to predict future purchasing behavior.
Customer lifetime value: CLV measures the total value of a customer to a business over their lifetime. It helps to understand how much revenue a customer will likely generate for the company and identify which customers are the most valuable.
Customer engagement: Retail marketers should track how customers interact with their brand, including website visits, email opens, and social media engagement. This information can help to understand customer interests and preferences and also help to identify which marketing channels are most effective.
Net Promoter Score: NPS measures customer loyalty and satisfaction. It helps to understand how likely customers recommend the brand to others and identify areas where the business needs to improve.
Return and refund rate: Retail marketers should track the rate of returns and refunds to identify products or services causing customer dissatisfaction. This information can help improve the business's quality and customer service.
Customer feedback: Retail marketers should also collect and analyze customer feedback through surveys, reviews, and social media comments. This information can help understand customer needs and expectations and identify areas where the business needs to improve.
Retail marketing with ActiveCampaign HQ
One easy way to make sure you're focusing on the right data is by using ActiveCampaign HQ
.ActiveCampaign HQ is an email marketing and automation platform that saves you time and money. It also provides marketers with data like purchase history, demographic info, and customer feedback all on one dashboard.
