“The effective use of loyalty card data is arguably the most significant benefit of scheme implementation”
You can use data to cross-sell and up-sell, offering
extended warranties after an item is purchased, make a suggestion for accessories
that go well with the purchased item, and provide discounts on related
purchases. Another great line is to promote offers during slow times/days/seasons
in order to maximise productivity and capitalise on providing value for your “ad-hoc” shoppers
Big data allows for real-time analysis on your customer’s habits and preferences. When you’re able to tailor their experience based on their likes/dislikes, demographics and other feedback it gives a lot of awareness and ideas towards how you might increase profits. That being said, it is imperative to maintain customer information securely and ensure you handle such information sensitively and, within the bounds of the GDPR guidance (or your own country’s data protection rules). Information such as gender, nationality and age can all be used towards the building of a customised experience. Being able to develop bespoke processes with big data gives business owners a huge advantage in terms of sales.