VEChannel Event Profile

Getting Ahead of Your Consumers: Find Them Before They Shop

Are you guilty of rearview mirror marketing? Its easy to do. Traditional loyalty marketers proclaim the virtues of knowing your existing customers behavior, and cultivating their loyalty. We agree, but marketing to consumers based solely on their past behavior is like driving while only looking in the rearview mirror. Instead, you need to look forward to anticipate what existing customers could be buying next year and who else could be driving your volume. Weve all heard the 80/20 rule. As we analyzed hundreds of fast moving consumer goods products, we found that on average 30% of the top buyers contribute 70% of volume in the first year of analysis. However, in the 2nd year, those same top buyers only drive approximately 50% of the volume. This yearoveryear instability, or buyer churn, suggests the need to devise a better, more predictive segmentation construct. Our approach was to take the actual consumption behavior of thousands of consumers across literally millions of transactions to find the life circumstances that cause behavioral shifts to occur. We make no assumptions about which life circumstance will drive volume; rather, we let the data of each category tell its own story. In this way, we can start to tell the full story about why heavy buyers are heavy and how to find more people who could potentially be heavy buyers, accurately and over time. Once we identify the right segmentation construct, it not only should yield upside, but also should be able to inform every single marketing and sales activity not just direct mail. A brilliant idea poorly executed is lost opportunity. Reach the consumer in a myriad of touch points, from the television they watch to the shopping aisles they walk down. Join Spectra to learn how to get ahead of your consumer and target your consumers before they shop. Learning Outcomes : Understand the concept of buyer churn and why rearview mirror marketing falls short Understand the motivations behind consumption behavior and why aspects like household composition can be a greater motivator than past purchasing behavior. Discover how to link marketing plans, including media and consumer promotions, down to where the consumer lives and shops. All you need to attend is : A 56Kbps Internet connection or better Computer speakers and sound cards for the audio Netscape 4.x or Internet Explorer 4.x (AOL users: AOL 5.0 and above only) Linux Users Please Note: To use the current Java client you will need to update to the latest version of Mozilla 1.7.3. Firefox/Mozilla. Using FireFox. Click Here To Set Up The WebEx Event Manager installed before the event Click Here To Set Up . NOTE: This plugin will not install if your browser has high security settings or you do not have administrative rights on your PC.

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