Articles
Maximizing the Value of Your Customer Base with Loyalty Data By Michelle L. Schooff, Lawson Software
September 24, 2007
•Article: Loyalty Data
You invested heavily in loyalty card programs and data warehouses to store streams of customer information. Have you extracted real value from these initiatives? Have you gained insight that will help you retain and grow customer wallet share?
Many retailers that invested in loyalty card programs are now searching for ways to realize measurable value from their investment. Retailers want to gain a better understanding of their customers' dynamic purchasing behavior in order to uncover new opportunities to increase share of wallet and build loyalty.
Marketers recognize the limited value of demographics and lifestyles as drivers of optimal customer segmentations, identification of purchasing dynamics and prediction of future value. Not only are these attributes primarily static on analysis and marketing timelines, but they also often have little correlation to purchasing behavior and recognition of true customer value to the retailer.
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