The new drop down menu of the Events is critical to retailers and marketers. This drop down will enable the client to have a snapshot of the customers activities leading to a specific holiday or promotion period. Each event has been thoughtfully selected and calculated based on a 3-5 days range leading to the specific event or a one-day view, eg Cyber Monday.
Analysis on these special dropdowns will be available in the Dashboard and FOR all the Transaction Reports.
List of New Events:
- XMas Period 3: Dec 17th - 25th
- XMas Period 2 Free Shipping Cutoff: Dec 11th - 16th
- XMas Period 1: Dec 4th - 10th
- Cyber Monday
- Black Friday
- Veterans Day: Nov 9th - 11th
- Halloween: Oct 29th - 31st
- Labor Day
- Independence Day: June 30th - 4th
- Father’s Day
- Memorial Day
- Mother’s Day
- Cinco de Mayo: May 3rd - 5th
- Earth Day: April 20th - 22nd
- International Women Day: Mar 6th - 8th
- Presidents Day
- Valentines: Feb 10th - 14th
- Martin Luther King Day
- New Year Sales: Dec 26th - Jan 5th
We have improved on BuyerGenomics speed as we want to make sure that even though your database is increasing, Buyer Genomics is not affected by the sheer volume of any database platform-wide. All Dashboard reporting and Transaction reports will be readily available for any time period or Event/Holiday range in the dropdowns. For any adhoc/custom time period however, BuyerGenomics will maybe take a few seconds extra to render your report.
Segment Out Email Unsubscribes
Unsubscribed emails can now be seamlessly removed from segments you create in “My Segments”. Since BuyerGenomics is synced with your MarketTraq data, you can now make sure that the list of emails from any segment you create can exclude the people who have Unsubscribed from your email Masterlist.
When you create a New Segment, the additional step to exclude email Unsubscribes from your segment is as follows:
- Select User Data
- From the 1st dropdown, select “Email Subscription”
- From the 2nd dropdown, select “Exactly Matches”
- From the 3rd dropdown, enter “s” for Subscribers
This will refine your segment by making sure that from the list of records requested, only the records with a “Subscribed” status will be selected.
Transaction Channel Segmentation Variable Added
“Transaction Channel” has been added to help you further refine segmentation and targeting. You can now create a segment to view how your various transaction channels - Web, Retail, Outlet, etc - are performing based on customers $Amount spent or # of transactions per customer.
In “Create Segment”, from the Transactions dropdown, you can select # of Transactions via “Transaction channel” or $Amount via “Transaction channel”. You can now evaluate the performance of your omni channels.
Monetary Value Segmentation Ranges Added
Additional Monetary Value ranges have been added for more detailed analysis. The extra range gives a more granular view of the transactions happening at a higher monetary range and will help in addressing and monitoring such a High Value segment of your database.
Unmatched Transactions Reports
BuyerGenomics values transparency when it comes to which transactions are recognized and which ones will not be included in our analysis and reports. The main objective of BuyerGenomics is to enable marketing actions based on your data. The Unmatched Transaction report pinpoints the number of transactions and its associated revenue that were not included in the calculations of transactions and revenue. It also allows you to know which affiliations need to refine their compliance and data collection at the Point of Sale so that transactions will be recognized in BG and these customers will be accessible for future marketing actions.
Smart Segments (Insights Heat Map)
The Smart Segments have been renamed the Insights Heat Map to clarify and direct the user as to how it might be used. The purpose of this Heat Map was to create a standard set of customer segments using clients’ transactional data. It’s closer to an “insight” about what direction and strategy you could come up with, with the targets it shows in the chart/segments.
Each Smart Segments has a tagline that helps to describe and clarify the segment further:
- Most Valuable Buyers: Z-score of “Life-to-Date Total $ Amount” greater than +1
Tagline: Customers who have spent the most on average
These buyers are your high spenders based on their “Life-to-Date Total $Amount Spent”. They believe in the brand and they are your most desirable buyers as they bring in the most revenue. They need to be engaged in ways that will acknowledge how special they are to you.
- Frequent Buyers: Z-score of “Life-to-Date Total Number of Transactions” greater than +1
Tagline: Customers who buy most frequently
These buyers are the ones who keep coming back for your brand, based on their “Life-to-Date Total Number of Transactions”. They believe in your brand and recognize its value. These buyers have a high loyalty index and need to be thanked and rewarded for their loyalty, for being “brand ambassadors”.
- Recent Buyers: Z-score of “Days since Last Transaction Date” less than -1
Tagline: Customers who bought recently
These buyers are the ones who have bought the most recently, based on their “Last Transaction Date”. This means that their experience with your brand is very fresh and you can reinforce your existing relationship and cultivate them into more frequent buyers.
- New Buyers: Z-score of “Days since First Transaction Date” less than -1
Tagline: Customers who are newly acquired
These buyers are newly acquired based on their “First Transaction Date”. They are new to the brand and you need to foster a relationship with your brand, educate them and develop their loyalty to turn them into your most valuable customers.
- Tenured Buyers: Z-score of “Days since First Transaction Date” greater than +1
Tagline: Customers who are your earliest buyers
These buyers have been with your brand the longest, based on their “First Transaction Date”. They have a long history with your brand however they might not have been buying as often or as recently. The value of this segment is to determine how to reactivate your early buyers into believing in your brand once more and recreating the relationship that once was.
- Dormant Buyers: Z-score of “Days since Last Transaction Date” greater than +1
Tagline: Customers who have not bought recently
These buyers have not bought your brand for a very long time based on their Last Transaction Date. They have not interacted with your brand for quite a while. The value of this segment is to reintroduce them to the brand and develop a new relationship.
On the chart, each segment has a copy in the tooltip which gives the following information:
- Average Days Since Last Purchase
- Total Revenue
- Average Revenue per Customer
- Number of Customers (which affect the size of the bubble)