Through the turmoil of recent years and months, few in retail have seen such dramatic changes as the homewares sector. Firstly, consumers switched to online and invested in home comforts through the pandemic. More recently, the market has swung back the other way through the cost of living crisis, but those who leverage their customer data are best placed to thrive.
How mature is your data strategy?
Creating competitive advantage
For our furniture clients, with high price points and a long repeat purchase cycle, the challenge is finding prospects who are in-market because the majority of revenue comes from brand new customers. The purchase might take several months across several engagements online and offline.
Did you know that it is very hard to increase a customer’s order frequency? The best you can hope for is 10-15%
Capturing and understanding samples, home visits, store appointments and website visits enables these brands to target their marketing investment and personalise messaging. Each customer is valuable – we create seamless journeys including SMS and even outbound calls where appropriate.
More frequently purchased brands, like linens, tableware and garden plants for example, have more in common with fashion retail. It’s a mix of acquisition and retention optimising towards allowable marketing costs. We model existing best customers to recruit more like them – this means more targeted media, sometimes at a cost premium, but resulting in higher lifetime value. After that first order, harnessing your 1st party data enables you to cut through the media noise to build a lasting connection with your brand.
An emailable customer is worth up to 50% more over a 12 month period
Learn how homewares brands like yours gain
competitive advantage from their customer data
Join a complimentary Teach-In and learn to power your business with real insights from real data
Who is it for: Founders, CEOs, board members, and directors
How does it work: Interactive seminar on Zoom
What you get: Our proven principles and methods delivered in an intimate and interactive way with real-life examples
Why trust us: We have 20 years' experience growing 200+ brands
What’s the catch: There is no hard sell, just an invaluable sharing of knowledge and experience... that we hope will show you why we are the best at what we do.
For larger purchases, stores are as important as ever.
There’s no substitute for sitting on a sofa or being able to see a whole range of products thoughtfully curated and presented in real life. For one well known paint brand we developed integrated direct mail and email campaigns to bring people into stores. We trained store staff to understand the importance of data capture and its role in supporting their sales; we built store data scorecards to drive change.
If you have stores, we will help you understand how digital investments are driving store footfall, and create personalised shopping journeys for your customers.
Getting the best from online and offline
We adopt a media neutral approach for planning – investing in any channel that can drive acquisition within the target allowable Cost Per Acquisition. For example, printed catalogues remain a powerful tool for many home brands – we decide who to mail, when and how often. In current times, it’s as much about who NOT to mail as who to mail.
Digital and, in some cases, Out of Home media each play their part in the consumer journey. We’ll use the customer database to target our media geographically and behaviourally – perhaps door drops are appropriate, or tube car panels for example. Digital audiences are critical too – we integrate directly with Google, Facebook, Instagram and others to fuel their algorithms. And we close the loop by building in statistically robust tests that can be measured through the data. As our client you’re constantly learning and looking to level up performance.
Merchandising for profit, and for the planet
If, like many more2 clients, you have a perishable product like plants, you need to match what customers want with what you need to sell. This minimises waste and reduces the need to discount to move excess inventory.
Your data foundation starts the process by accurately predicting demand and informing stock buys. Then we operationalise your data by connecting to your marketing channels, so you lead with what’s seasonal and in-stock but with one-to-one relevance.