Here are seven ways in which predictive analytics could transform your retail business.
Increasing personalisation
An obvious example of predictive analytics feeding into personalisation is its use in customer service. Looking at previous customer interactions, past purchases and any feedback france phone number list or reviews they have left can tell you a lot about how they are likely to behave in the future - and give you an advantage when it comes to communicating with them. Even something as simple as following up with a customer and asking how they’re getting on with their last purchase can feel like a personal touch.
This also extends to personalised messaging and advertising. Analytics can help you to predict specifics, such as what your customer’s next purchase might be if they’re likely to be going on holiday soon, and even what kind of images they’re more likely to respond to. Combine all of this knowledge, and you’ll be recommending products with such precision that your customers will think you’ve read their minds.
Smarter personalisation like this is proven to result in an uplift of profits - we know, because we helped to make it happen for the well-known clothing retailer New Look.
How can they change retail?
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