Retailers Know: The Truth Cannot Be Disguised
Through the early days of 2015, retail success and failure headlines have been fast, furious and in too many cases financially beleaguering. Headlines causing us all to stop, think and reassess why this particular retail brand is winning, why this other retail brand is losing or perhaps, clearly lost. We openly debate whether consumers have been the catalyst, the “cause and effect” of these positive and negative results, through socially managing, controlling and commanding retail brands, commanding their financial destinies through their open or closed pocketbooks. Retail wins and losses are first and foremost about consumer preference, consumer demand, consumer social relationships, consumer belief in the truth of any retail brands promise.
I continue to be amazed that in the year 2015 there is still a multitude of retailers and manufacturers who have not mastered nor employed-deployed an active CRM or SCRM (social CRM) database-mining foundation. The scale and frequency of consumer data, call it Big Data, is mammoth – but so are consumer expectations with prioritizing their self-interests and experiences, making or breaking retail opportunities. Perhaps, if we change the acronym officially from “Customer Relationship Management” to “Consumers Really Matter,” executive management will begin to vision, build, auger and deploy CRM, finally realizing that zetetic consumer intimacy must begin with relevant discovery before engagement.
‘Demassifying’ the Mass Market
This narrow and broadcast consumer-centric digital dashboard delivers the highest ROI and ROR (return on reputation), ensuring competitive growth and highly profitable engagements. Retailers focused on maturing and exercising formidable CRM-SCRM foundations will begin to “demassify” the mass market, breaking consumers into ever-finer personalized segments: target them through an expanded and refined data lake of knowledge and preference. Targeting which creates consumer retail pull avoids annoying consumer push.