Ben Chesser, CEO of Coniq, demystifies and simplifies the ‘dark art of shopper data’ at the recent ICSC Outlet conference, on the 24th March, in London. If you missed this entertaining and thought provoking session, you can watch the recording below.
His speech based on findings from 19+ shopping centres across Europe outlines:
- How to collect shopper data and most importantly, how not to
- How to make the data work for you (Dos & Don’ts)?
- What are the top tips to harness the dark art
Key points from the presentation:
- It is not just about filling your centre with people, it is about getting the right people that will spend.
- 30% of shoppers account for 75% of the centre’s turnover- know who they are.
- Always remember that people are protective of their data
- The ‘Triangle of Love’ is key for engagement – Shoppers, tenants, centre managers.
- There is nothing wrong with starting simple and going for a ‘low hanging fruit’
- Make the technology do the heavy lifting.
- You need critical mass early.
- Tenants are your weakest link……and your best friend.
The key takeaways to harness the dark art of shopper data:
30% of your shoppers account for 75% of your turnover – furthermore, the top 10% account for 40% of your turnover; therefore, it is necessary to identify who these customers are while not ignoring the rest. It is also important to recognise that each group is different and should be addressed differently.
The triangle of love – This refers to the three groups that should be your focus in terms of engagement for your data collection. These are respectively the shoppers, the tenants (retailers) and the shopping centre managers. To get them all engaged, there should be clear communication.
Go for the low hanging fruit – Do not over complicate things as it’s always more beneficial to start simple and learn as you go. Remember that not everything has to be measured from day 1, rather work your way towards the type of data that you are trying to achieve..
Make the technology do the heavy lifting – In terms of marketing, a lot can be automated in accordance to the shopper behaviour. This will personalise your communication to them and thus, increase the engagement level of the shopper. So, for example, an email can automatically be set to be delivered to a customer after spending a certain amount or, a push notification could be set in regards to a location – You can see how Land Securities did this for their ‘Love Trinity Leeds’ loyalty program on our webinar recording.
Critical Mass – It is important to aim for critical mass as early as possible; you need to show the brands (retailers) that you are serious about the data collection scheme and you are willing to invest in it as well as show shoppers that the brands are behind the scheme. Soft launching is not always the most risk adverse route.
Tenants are your weakest link…..and your best friend – With tenants serving as middle men between you and your shoppers, it is important to realise that they can either make or break your data collection scheme. Therefore, the more engaged they are, the more likely they are to be on your sides, and vice versa.
If you enjoyed this, why not download our free eBook on Shopping Centre Loyalty to kick start your data collection scheme.