How to Turn Wasted Data into Dollars
In today’s ultra-competitive digital marketplace, possessing accurate and reliable data about your audience has never been more crucial, regardless of whether you’re the specialty retailer on the corner or a Fortune-500 corporate giant. What matters most, however, is effectively translating the data into meaningful and timely communications with customers and prospects. Retailers today, with what seems like access to an unlimited amount of data, struggle to recognize how to mine it, how to sort through it, and how to glean actionable insights from it. In fact, many retailers are just sitting on a treasure-trove of data – or even worse, throwing it out – when this information can be strategically used in multiple areas to positively impact revenue opportunities.
This whitepaper discusses how retail marketers can amplify business data by discovering whether or not their companies are throwing away valuable information that could, ultimately, help them generate additional revenue streams, build brand loyalty and increase profits. Other strategies discussed in the paper include how to put different data in context, for example IP intelligence and geolocation, and then apply it within your retail marketing activities to have the maximum impact on sales.