Describe at least two specific examples of the type of marketing strategies that Moss Bros. might expect to see as output of their CRM system. Case Study Since 1851, Moss Bros. has been selling quality menswear to the best-dressed gentlemen of London. Started in a corner of the Covent Garden area by Moses Moss, the retailer and formal wear rental business operates more than 130 stores throughout England and Ireland. The company also sells online in the United Kingdom and the United States. With sales over $150 million ($10 million of which are online), the firm has come a long way from its humble beginnings. For many years, Moss Bros. has kept meticulous records of its customers’ preferences, sizes, and past purchases. In 2013, the firm’s e-commerce director Neil Sansom began an 18-month initiative to capitalize on its extensive customer records to increase sales, in particular, online sales. Sansom called the customer data its “golden records” and set mining them. Beginning with its most frequent customers, Moss Bros. built profiles and tracked their transactions to identify what prompted them to make purchases. Then, using that information, they developed personalized marketing messages and sent them in e-mails that were carefully timed to appeal to customers at just the right moment. Although the implementation of the system is in its early stages, the firm has found that the basic promotional message targeting that it can do at this point has already doubled their rate of success achieved with e-mail promotions. The more the firm learns about its customers, the more it believes it will be able to turn that new knowledge into additional sales and it is looking forward to even better results once it extends its analytics to include all customers.
Describe at least two specific examples of the type of marketing strategies that Moss Bros. might expect to see as output of their CRM system.
Case Study
Since 1851, Moss Bros. has been selling quality menswear to the best-dressed gentlemen of London. Started in a corner of the Covent Garden area by Moses Moss, the retailer and formal wear rental business operates more than 130 stores throughout England and Ireland. The company also sells online in the United Kingdom and the United States. With sales over $150 million ($10 million of which are online), the firm has come a long way from its humble beginnings.
For many years, Moss Bros. has kept meticulous records of its customers’ preferences, sizes, and past purchases. In 2013, the firm’s e-commerce director Neil Sansom began an 18-month initiative to capitalize on its extensive customer records to increase sales, in particular, online sales. Sansom called the customer data its “golden records” and set mining them. Beginning with its most frequent customers, Moss Bros. built profiles and tracked their transactions to identify what prompted them to make purchases. Then, using that information, they developed personalized marketing messages and sent them in e-mails that were carefully timed to appeal to customers at just the right moment.
Although the implementation of the system is in its early stages, the firm has found that the basic promotional message targeting that it can do at this point has already doubled their rate of success achieved with e-mail promotions. The more the firm learns about its customers, the more it believes it will be able to turn that new knowledge into additional sales and it is looking forward to even better results once it extends its analytics to include all customers.
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