As the retail market is constantly evolving, personalizing the sales process to the buyer’s context is becoming vital for retailers. In addition, to improve customer experience, retailers need to understand how customers interact with the brand. To do so, retailers will need to map their customers’ journey from awareness to the purchase stage. This is where a customer buying journey analysis comes into play. Customer buying journey analysis helps businesses to understand the actions their customers take while engaging with the brand and the various touchpoints where they interact.
The client is a retail company based out of Germany.
In an endeavour to enhance its market share, a well-known retailer wanted to stay updated on the customer buying behavior and purchase patterns in the German retail market. In addition, they wanted to analyze their customer buying journey to devise personalized product offerings, develop better marketing strategies, and drive sales. They approached the experts at Infiniti Research to leverage their expertise in offering customer buying journey analysis.
Furthermore, by leveraging Infiniti’s customer buying journey analysis, the client wanted to:
#1: Enhance marketing ROI through better targeting and more personalized offerings
By leveraging Infiniti’s expertise in offering customer buying journey analysis solution, the client wanted to devise personalized marketing and sales strategies for different customer segments and efficiently utilize their marketing budget to drive sales.
#2: Enhance the brand image
By leveraging Infiniti’s customer buying journey analysis, the client wanted to analyze the actions their customers take while engaging with the brand and the various touchpoints where they interact. By doing so, the client wanted to understand areas where their brand needs to improve.
#3: Enhance customer experience
By analyzing customer buying journey and their needs, the client wanted to create a better in-store customer journey and enhance CX.
The initial phase of the customer buying journey analysis involved a customer segmentation analysis. In this phase, our experts helped the client to identify the most profitable customer segments and segment them into separate groups based on their value for the brand.
The next phase involved a customer satisfaction and loyalty assessment. In this phase, our experts conducted surveys and examined customer buying journey. This phase of the engagement helped the client to understand customers’ satisfaction level regarding their product. Also, the client was able to understand marketing channels where they needed to focus and areas that needed improvement.
In the final phase, our experts carried out a sales and marketing analysis, where they measured the effectiveness of marketing campaigns across different channels and conducted demo campaigns.
The insights obtained Infiniti’s consumer buying journey analysis helped the client to devise a customer buying journey map and personalize their marketing and sales strategies to drive maximum sales. Furthermore, by understanding how customers interacted with the brand, the client was able to devise personalized product offerings and create a better in-store customer journey.
In addition, they were able to identify the right marketing channels to invest into and drive customer engagement. In one year, they were able to enhance their marketing ROI by 23%.