Back in 2001, our industry made a decision.
We decided to be "multichannel".
Do you remember the discussions? They were spirited! Somebody had to get control of the rogue online team, those folks who worked in another building, or on another floor of the corporate offices, offering 20% off plus free shipping in a battle to monetize eyeballs.
If you worked in retail, you had your retail marketing team take control of the online marketing team.
If you worked in catalog, you had your catalog marketing team take control of the online marketing team.
This homogenized the whole online experience. We decided that the online folks would toe the company line, they would squelch innovation in the spirit of a "multichannel" experience.
We ceded true e-commerce to Amazon. Oh, by the way, have you looked at their market share recently?
Once we made the decision to be "multichannel", we created an e-commerce experience that suited our core audience.
For catalogers, this customer is "Judy".
Look at the graph at the start of this post. This is such a common story in our industry. The rate at which we acquire Jennifer/Jasmine to replace Judy is simply too slow. We keep marketing to our core customer, we keep spending money with the co-ops to acquire more customers like Judy.
Run the query I ran to produce the chart above ... it's a simple rolling twelve month buyer count. How has your business evolved over the past decade? Have you significantly increased Jennifer/Jasmine counts, or has your business followed the classic multichannel trajectory? And if you're following the classic multichannel trajectory, what happens in seven years when a 59 year old Judy becomes a 66 year old Judy?
Helping CEOs Understand How Customers Interact With Advertising, Products, Brands, and Channels
February 20, 2012
When A Business Focuses on Judy
Subscribe to: Post Comments (Atom)
You aren't going to read about or hear a lot about dollar stores in the retail gurusphere. So read this (click here) . The price point /...
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
As is my tradition, I'm going to take a long weekend. No posts until early next week. I've been doing this for almost twenty years, ...
Sometimes you think "people already know this stuff". Sometimes you realize that Google Analytics give smart analysts almost no op...
Post a Comment
Note: Only a member of this blog may post a comment.