Recently, Scott Buelter, CEO of Ascent360, sat down with Lee Miller of FISH307 to discuss the specialty retail industry and how data driven marketing automation has created new paths of growth for their company. They have also found that upgrading to a next level tool that seamlessly integrates with their existing systems makes all the difference in creating a unique customer experience and driving more sales.
The power of cleansed & organized data
Before partnering with Ascent360, FISH307 had a database that made it extremely difficult and time consuming to access customer emails and other important data. And as they were rapidly growing in the online space, they needed a way to view all that data in one place, which enabled them to use it to create hyper-focused customer segments.
For example, they knew their customers based in Florida wouldn’t relate to the same ice fishing emails their customers in Wisconsin would. With Ascent360, they were able to pull in all the data from their BigCommerce and Lightspeed systems to create segments based on past purchases, geographic location, etc. This allowed them to talk to customers in a way that made sense to them--they no longer had to worry about sending irrelevant emails due to lack of accurate and cleansed data.
One of the greatest benefits of segmentation is its ability to naturally create future segments. People who have signed up for an ice fishing class either in-store or online provides FISH307 the data needed to identify where their customers are located, if they go on to purchase ice fishing equipment, and creates a ripple effect of future segment opportunities, saving you time and effort on the backend.
The benefits of targeting existing customers
The reality of specialty retail is that acquiring new customers is approximately six to seven times more expensive than securing a repeat purchase from an existing one. FISH307 recognized this, so they put a campaign in place to target customers who had purchased one thing and never bought anything else. That single campaign accounted for 10% of their business in a month.
Targeting existing customers provides an excellent opportunity for cross-sell and upsell campaigns. Another tactic they used was to provide a promo code for a special discount to encourage lapsed customers to return to the store, which still cost them less than it would have to acquire a new customer. This strategy enabled them to create a unique experience for their customers and demonstrate that they can meet all their customers’ fishing needs.
The importance of integration
While data segmentation and the platform’s unique tools are a big driver for specialty retailers, it’s also critically important that the platform integrates with systems a company already has. Big box stores have departments and designated people to handle all the integrations, but smaller specialty retailers need a tool that works with them rather than against them.
FISH307 knows that data drives growth and they needed a next level tool and partner in marketing that encouraged and enabled them to drive their business forward, now and in the future.
The essence of specialty retail is that your customers are avid consumers of what you do, whether that’s fishing, cycling, snow sports, etc. Using organized and integrated data, targeted segmentation, and high-impact campaigns will show your customers what makes you special and keep them coming back time and time again.
Discover what Ascent360 can do for your business!
