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Monday
Apr092012

How to turn "Big Data" into "Big Money"


With the plethora of data being generated through social networks, blogs, mobile experiences, Internet search indexing, e-commerce data and RFID, your customers are creating masses of data. This data becomes too large to consume and turn into information, this data mass is referred to as “Big Data”. Many companies are so overwhelmed by data that they do not even know they have, let alone have the capability to harness it to their advantage, and as a result they only use a fraction of it. This means that many companies are leaving money on the table and will continue to do so unless they learn how to harness their “Big Data”.


The Time to Look at Your Data Asset Management is Now

At Moxie, we believe “Big Data” is a great opportunity for all businesses out there, big and small. Our goal is to work with you to help define what Big Data means to your company and your customer and how do you focus on the data items that actually generate you money.

We have all heard the old adage of “Garbage In, Garbage Out”, an outcome of that adage is your business runs the risk of “Garbage Data In, Garbage Decisions Out.” Moxie’s Customer Data Architect’s philosophy is to work with you to determine where key data drives key decisions and ensure that it’s accurate and available so you can make profitable decisions off the back of it. In addition, we identify the opportunities you have to turn this data into insights; how to grow your “Big Data” asset and specifically focus on where you can gain customer and competitive advantage and easily implement into your business. Insights and decisions that engage your customers are how you will turn data into money!

Drop Moxie an email today to get one of our Customer Data Architects to help you turn your “Big Data” into “Big Money” email: info@moxieretail.com

Tuesday
Mar062012

Is Your Business Insight Ready?

 

While it is no secret that Canadian retailers are preparing for the arrival of US retailing giant Target, many retailers are scrambling to retool their offering, pricing structure and go-to-market strategies. Recently, Loblaw president Vicente Trius shared his plan for the future with his investors.

Trius spoke about his plan for the future and explained how Loblaw is setting its sights on tracking shoppers’ spending habits and improving the loyalty program, in an effort to better understand their customers. This comes two weeks after the New York Times ran a well-publicized article about Target, titled, “How Companies Learn Your Secrets.” Clearly Target has been working on customer profiling and looking for new business opportunities for a while. Predictive modeling is not new, but the tools to do so are. While Target was clearly unhappy with their secrets being shared so publicly, their objective was the same one that all retailers struggle with, that is, how can retailers look for more relevancy with their best customers without scaring them off? Can retailers get back to a point where they knew empirically what their customers needs were before their customers knew?

The answer is a resounding yes.

Moxie Retail Solutions was built around the model of identifying customer insights using innovative techniques, and translating those insights into better Shopper Marketing models, more relevant Customer Loyalty programs, improved store performance and intuitive Retail Design.

Our clients no longer are restricted to making decisions only based on trends or historical data. Moxie's tools will enable fact-based decision making with metrics of success that will differentiate your brand.

To learn more about our products and services, contact Moxie and let's discuss how we can improve your bottom line!

 

 

Tuesday
Mar062012

Target - Smart Retailer or Nosy Neighbour?

 

In a recent New York Times article, Target's research department came under heavy scrutiny for their customer profiling practices. Many of these same behavioural and psychographic techniques are being used with success by other big retailers across North America. We all strive to be relevant to our customers, to offer them the right products at the right time. So where exactly did Target cross the line with their approach? Had the modeling predicted young people who were leaving for college, would people have been as sensitive to the profiling? Was this a case of predicting an event that is so highly personal and one that is still shrouded in a sense of secrecy that it made people feel like their privacy was being invaded?

Where do you think Target crossed the line?

Wednesday
Jan042012

Ocean Marketing: The Epic Social Media Blunder


We've all heard about the power of social media. Generally it has either been in the context of funny viral content, such as the Old Spice campaign, or corporate stumbles such as the Gap logo redesign. Rarely do we get to witness a PR fiasco of epic proportion. 

Over this past Christmas break, Paul Christoforo took a run-of-the-mill inquiry from a customer known as "Dave" and turned it into a PR train wreck. You can read how the story unfolds here.

Within the span of a day, all of the social media channels were buzzing with news of this disaster. Twitter was trending @OceanMarketting & @OceanStratagy (Christoforo apparently doesn't spellcheck); Amazon reviews about the Avenger Controller were littered with comments about poor customer service & suggestions encouraging would-be buyers to “check online before you buy”; Revision3 had made a parody video; and someone had even created a real-time Google doc to track updates to the story. It was shocking how quickly this blew up. 

The Avenger Controller company scrambled to extinguish the internet firestorm surrounding their company, but they are still trying to move beyond this disaster. We can only hope that their new shift toward transparency and accountability will outweigh the damage done by Christoforo.

Thursday
Dec082011

Walmart Canada Sets Its Sights on Amazon.ca

 

With few retailers sharing stories of great success through increasing same store sales and rising purchase percentages, online sales are heating up in Canada. By the close of this year, it is estimated that Canadians will have spent $18.5 billion online. That is a 12% increase over 2010. A pretty impressive figure in light of the current economic climate.

With annualized growth of this magnitude, increased awareness and attention to detail in the traditional bricks and mortar retailing arena will remain a high priority. Making the retail box profitable continues to be an ongoing challenge. Knowing where your products are in the retail environment and more important, where your customers are in your store will continue to pay off. The real opportunity will be in leveraging those insights with an active retailing approach –creating timely, customized and highly relevant offers– will clearly change how the consumer votes with their wallet.

http://bit.ly/sKosEO