Recently, Piper Jaffray, a leading investment bank and asset management firm, took their annual survey on millennials, although one of the most shocking statistics showed the Starbucks had lost it’s No.1 spot for “favorite restaurant” to the fried-chicken chain, Chick-fil-A, there was a lot of other great information on teen spending habits. Here’s an overview of the findings:
With information available across the web, social channels, and our very own databases, it is not hard to see that we have reached the point where we all need to figure out what to do with all the massive amounts of data being generated at an extremely rapid pace. Even though we know big data gives us all the information that we need, the thought of diving deeper can be overwhelming. In order to make the most of all the accessible data, businesses need to start focusing on how they can use incoming data to create a better customer experience. Here are 3 ways that diving into your data will benefit your company:
It’s almost April, which means that Teacher Appreciation Week is just around the corner (Monday, May 1st - May 5th). Many retailers take this opportunity to thank teachers for all they do by offering exclusive discounts on products. If your business is planning on honoring teachers during Teacher Appreciation Week 2017, here are a few tips on how to see success in your campaign:
Consumers may not realize it, but there are a lot of steps associated with making one small purchase. In fact, 67% of consumers said they start shopping on one device and finish on another. Whether a person is shopping online or at a brick and mortar store, there are 4 phases of their shopping journey: Research, decision making, checkout and payment, and fulfillment of the product.
The military community is comprised of nearly 30 million consumers with a purchasing power of over $1 trillion annually. This includes active duty, reservists, the National Guard, retirees, military employees, and veterans, plus their spouses and other dependents. With so many deserving consumers in this group, it’s no surprise that many companies try to give exclusive offers to the military community, however, many don’t know how to create a success military discount program that provides value to these special customers. Working closely with hundreds of clients, we’ve pulled together the 5 proven ways you can create a successful military discount program:Be genuine - Unfortunately, there are many not-so-honest companies out there trying to take advantage of the military community, and most military members see right through it. Before you launch a military discount, take a look at your company culture. Recognize your employees who have served and get them involved with the campaign. They will be able to give your insight into the military community and a better understanding to create a military-friendly message that is genuine. Word of mouth - Although marketers have a love/hate relationship with word-of-mouth, there is no way of getting around this powerful tool within the military community. The military community is a tight knit group that trust each other’s opinion. In fact, 76% of the military community say they learn about military discounts from word of mouth - just another reason to create a genuine experience for your military customers from the get-go. It’s important to pay special attention to what is being said about your military discounts so you can make changes based on feedback.