October 17, 2012

But The New Channel Adds New Customers, Right?

One of the arguments you'll hear in the omnichannel world is that all of these micro-channels deliver new customers, they open up new markets for your business.

Hogwash!

Yesterday, we talked about the impact of a new channel on existing, comparably equal customers.

For new customers, we can look at a rolling twelve month analysis.  Here's an example:


You can just hear the cheers of the mobile team ... "we're winning, mobile is the future"!  And they are right, they are winning, and their channel "is" the future.

But ...

... the business is actually experiencing new customer growth that is slowing, right?

This table clearly shows that "channel shift" is happening.  Yes, customer acquisition is improving with each quarter, but the rate of improvement is the same today as it was almost three years ago, when mobile barely mattered.

Maybe your business is different, that's fine ... at least you can run the query, and quantify that your business truly is different.

Run the query!!

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