What will it take for retailers to stay in business in this rapidly changing global economy? Futurist Ross Dawson commented in a recent blog that if you expect your business to look the same in 10 years as it does today, expect to be out of business.

Who’d have thought ten years ago that Woolworths would be the biggest owner of pubs and bottle shops today? Constant change is the only way to stay competitive, which explains why Woolworths just bought Cellarmasters for $340million. Kevin Luscombe recognises the future includes database marketing, Cellarmasters “will enable us to serve a whole new customer segment in terms of the direct marketing channel.”

eCRM drives online sales

Cellarmasters has the largest databases of drinkers of premium wines in Australia. For any competitor to stay in the premium wine business they’ll need to at the very least match the way they apply an eCRM program to their database.

Once a database has been professionally cleaned, you can start to mine your database and build a series of profiles of your customers. Using that intelligence will deliver a better ROI on your marketing. You’ll get a better result cross selling Pinot Gris to customers who are heavy purchases of Sauvignon Blanc. With profiles of your customers it becomes practical to promote a 20 case limited offer Coonawarra cleanskin, you simply email your regular purchasers of Cabernet. With data intelligence, while you offer a bonus with purchase of single malt to spirits drinkers, beer drinkers automatically receive a different offer.

Very few customers want to be constantly bombarded with promotions that are obviously being sent to the masses. They will reward targeted offers that demonstrate you understand them as an individual with stronger loyalty.

Your customers know what they like and will actually tell you what they want if you bother to track their behaviour, or quite simply ask them. Every marketing activity, from a mailer or catalogue to a visit to your store, each phone enquiry and every online order is an opportunity for you to measure what works and what can be improved.

ROI marketing will drive e-commerce

Every dollar you spend on marketing should and can be measurable. You don’t actually have to be a futurist to stay in business, with data intelligence you can keep track of where your customers’ needs are leading and continuously adjust and improve to keep up with them.