In the series of articles on "New Retail Solutions", we have covered:
The concept of new retailWhat kind of new atmosphere and new changes have new retail brought to the traditional retail industry, compared with traditional retail management, new retailAdvantages and application value
New retailOverview of the three major solutions: Including store operation, merchandise management and membership management solutions;
In the first two articles, the first two solutions are described in detailSpecific implementation ideaswithEnabling business scenarios.
Previous Review:
One of the three major solutions of new retail - commodity whole-process management solutionNew retail's store management plan sharing, everyone can be a good store manager! Overview of new retail stores, commodities, and membership operation management indicators! In the new retail era, promote the comprehensive upgrade of smart retail! Today's article finally comes to the end of our three major solutionsAffiliate Differentiated Marketing Solutions.
The content of this article focuses on:
How to solve the low repurchase rate of members?
What is the implementation idea and strategic framework of the new retail affiliate marketing solution?
The landing effect and practical application scenarios of the new retail membership management solution.
The solution in this article relies on the reporting tool finereport!
Pay attention to Finefine, we will continue to explain data analysis methods and tools and solutions for enterprise digital transformation
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For retail enterprises or stores, although new customers are always the "living water" and potential business opportunities in all markets.
But with the process of market development, at this stage, it may become difficult to acquire more new customers at the same timeThe initial large number of new customers gradually converted into brand members.
At this stage, enterprises will find that the repurchase behavior of brand members is the greatest guarantee for a stable marketMembers are seen as a steady buying power** in the retail industry, and each member represents onePotential "gold mine".
Therefore, in order to retain members, increase the number of repeat purchases of members, and increase the frequency of shopping, it is implementedRefined management of membersThis is especially important.
In this way, how to tap the purchase potential of members, increase the frequency of repeat purchases, and stimulate shopping vitality?
This has become a question that every retail enterprise must think about seriously.
But it has also become a shackle that restricts many retail business owners:What should I do if the repurchase rate of members is low?
The problem on the surface is obvious - the repurchase rate of members is low, but if we continue to dig deeper, we will find outThe more practical reasons for the low repurchase rate of members are the following three points:
The target audience is difficult to target
**Merchandise is difficult to select
**Types are difficult to control
Therefore, how to maximize the value of marketing activities has become a common problem faced by retail enterprises and the biggest problem that needs to be solved urgently.
After going deep into the surface of the problem and dismantling the problem that is more relevant to the actual business, the next thing we need to do is -To find the root causes of these problems, we have summarized the following root causes for enterprises based on years of experience in retail solutions:
Core 1: the quality of products and services
First of all, confirm the businessWhether the product adapts to the long-term needs of usersThe core is to build and maintain continuous user satisfaction with the product or service, so that they are willing to choose the same brand or merchant multiple times. Repeat purchases are a sign of customer loyalty and the continued appeal of a brand, and the key is to create a strong connection that makes users feel the value of the brand and continue to choose the brand.
Core 2: Marketing methods for repeat buyers
If the product meets the market demand, but the repurchase rate is still low, this situation needs to be startedRepurchase marketing levelReflection:
The first point: the membership is not stratified enough
At present, enterprises are mainly classified by membership card level, and lack of detailed stratification of key indicators such as repurchase rate and activity, resulting in a lack of in-depth understanding of member groups.
The second point: the target positioning is not clear
The lack of in-depth mining of the characteristics and added value of segmented customers makes the target positioning blurred, and it is impossible to accurately meet the needs of different members.
Point 3: **Product selection is not supported by data
In the selection and selection of products, enterprises mainly rely on unsalable, high inventory, new products and other dimensions, and lack of data-based analysis, resulting in the selection of goods may not match the needs of members.
The lack of data-based methods to guide product selection and rely too much on manual judgment may lead to an unreasonable assessment of the product structure.
Fourth: Lack of differentiated marketing
At present, the marketing is mainly based on activities such as coupon issuance and full reduction, and it is difficult to improve member loyalty due to the lack of differentiated personalized marketing strategies.
Point 5: Lack of process tracking and review
The statistics of event sales are lagging behind, and there is a lack of visual data tracking of customer flow, customer unit value, sales, etc. in the process. At the same time, there is a lack of control of the value of activities and marketing review, and timely improvement measures cannot be carried out.
After clarifying the root cause of the problem, the next thing to do is to prescribe the right medicine and create a refined membership marketing plan for the retail industry.
In the end, the fundamental solution to the problem of low repurchase rate is to differentiate and classify consumer membership groups to create personalized marketing.
Why?
Because it can only be more accurate with differentiated gradingUnderstand the needs of different membersPreferences and behavioral habits。With a deeper understanding of each level of membership, businesses are able to more precisely meet their personalized shopping needsProvide products and services that are more in line with expectations.
Specific implementation ideas:
In a nutshell, there are four major steps:Build member portraits, position core member groups and products based on consumer needs, give full play to user assets and create an enterprise-level closed-loop system for member operation.
S1 Build Member Portraits:In the construction of an enterprise-level member operation system, building member portraits is a crucial task. Through in-depth analysis of consumer behavior, shopping history, and preferences, we are able to create nuanced member profiles that depict each member's unique characteristics and needs. PassedRFM modelScore users and position the value of consumer membership. Analyze the contribution of member groups from the dimensions of purchase frequency and associated sales.
S2 Targeting core member groups and products based on consumer needsIn order to gain in-depth insight into consumer needs, we combine the establishment of member portraits with the positioning of core member groups and products, aiming to build a more intelligent and personalized closed-loop system of member operation. Through the analysis of consumer behavior patterns, their demand trends, preference categories and shopping preferences provide a scientific basis for accurately positioning core member groups.
Analyze the activity, associated purchase rate and loyalty of members to locate the target group
S3 Differentiated Marketing with a Combination of Merchandise and Marketing Strategies:In differentiated marketing, it emphasizes the combination of product features with unique marketing strategies to achieve a prominent position in the highly competitive market and deeply explore the unique selling points of products. Find the excellence that differentiates you from competing brands by carefully analyzing the features, quality, and functionality of your products. This helps to establish the core differentiating characteristics of the product, which becomes a bright spot to attract target consumers, and emphasizes a high degree of alignment with the product characteristics when developing a marketing strategy. Based on the target customer group, different methods such as coupons, full reductions, discounts, and membership days are adopted.
S4 Marketing Review Driven, Sales Target Achieved:In sales operations, through the review (review, summary) and analysis of previous marketing activities, promote the achievement of future sales goals, and continuously improve the effectiveness and efficiency of sales activities through experience summary and improvement.
Process diagram:
Application scenario 1: Member portraits
In the application scenario of member portraits, RFM analysis is an effective method, which creates different levels of user value based on users' purchase behavior and historical data, including spending power, sensitivity and purchase habits.
First, we divide members into different tiers through RFM analysis (most recent purchase time, purchase frequency, and purchase amount) to reflect their differences in consumption behavior.
The time of the most recent purchase (recency).
Purchase frequency
The amount of the purchase (monetary).
Secondly, we analyze the spending power of our members to understand their financial strength and shopping habits.
It is also necessary to pay attention to the buying habits of members, including:Shopping channel, shopping time, preferred categoryetc.
Example:
According to the customer unit price, coupon usage and other data, members are divided into the following according to the consumption frequency and consumption amount
High-frequency and high-spending members
High-frequency and low-consumption members
Low-frequency and high-consumption members
Low-frequency and low-consumption members
It is displayed in the form of visual charts to lay the foundation for user classification for subsequent differentiated marketing.
Scenario 2: Targeting
For different member groups, analyze consumption behavior and preferences around the consumption process, and locate the target customer group with the highest value
First, we conduct a detailed analysis of the consumption process of different member groups, including shopping paths, shopping behaviors and decision-making processes. This provides insight into the consumption process of different groupsBehavioral characteristics, and their overall shopping experienceKey nodes
PassedIn-depth excavation of consumer behavior, we can identify the ** valueTarget audience。This may involve:High shopping frequency, large customer unit value, and strong brand loyaltyMembers. At the same time, consider other characteristics of their shopping journey, such as shopping channel preferences, product category preferences, etc.
Establish a multi-level member analysis linkMembers can be divided into different levels or categories according to different consumption characteristics and behaviors. For example, members with high frequency and high customer unit value are divided into:**Value Membershipto distinguish the members on the shopping channel preference** from the offline members, etc.
Use case 3: Differentiation marketing
For example: for**Less sensitivecan be pushedMore advanced products, or provide moreValue-added servicesto enhance the shopping experience.
For**High sensitivityof members can provide:More activities, discount information to meet their more focused shopping needs.
Members with high spending powerMay be more acceptable**bit of the productWe can enhance their shopping experience by pushing high-end products or ordering ** services.
Members with low spending powerProbably more cost-effective, we can offer moreDiscount coupons or ** eventsto entice them to buy.
By continuously iterating and optimizing this multi-level member analysis link, we can more accurately grasp the needs of members at different levels and meet their needsPersonalize shopping expectations。This helps to increase the satisfaction of the target audienceAt the same time, it also provides an effective path for enterprises to achieve higher levels of customer loyalty and shopping frequency.
In conclusion, this affiliate marketing solution passesIntegrate online and offline omnichannel datato achieve a full range of consumersInformation gathering and data miningto createAccurate consumer profiling and demand analysis。This helps to guide the company's production and sales strategy and improve the overall operating efficiency.
By mining this data, we can conduct a more accurate demand analysis. Understand how consumers' shopping preferences and needs are changingHelp enterprises better adjust product lines and improve servicesto better cater to market demand and achieveResource integration, intelligent operation, optimization and value extensionSeveral major goals.
This omni-channel, all-scenario data capture and analysis doesn't just provide enterprises:Key market insights, tooFineQuasi-commodity management, store operation, membership managementStrong support was provided.
That's all for this articleIntroduction to the solution of smart new retail membership marketing managementI hope this article will help you in the process of digital transformation in the retail industry!
Welcome to share your views on the new retail affiliate marketing management plan with us in the comment area!