My Macy's Makes Splash in Personalizing the Customer Experience
It's been said ad nauseam — the customer is always right. Macy's takes that famous saying one step further by trying to provide the best customer experience possible with its My Macy's campaign, which was discussed at the National Retail Federation's BIG Show on Monday.
For Macy's, it takes 12 customers to make up for one loyal customer lost. Therefore the company focuses on keeping its customers loyal with its My Macy's campaign, which creates a highly personalized and omnichannel shopping experience. The campaign has not only seen an increase in sales and earnings, but it's also seen stressed importance on the ability to focus on the customer.
"Seven out of 10 Americans visit a Macy's store or macys.com every year," said Peter Sachse, CMO, chairman and CEO of Macy's and Macys.com. "We don't need any more customers, we need the customers we already have to spend more with us. Therein lies the loyalty. We put the customer at the center of all decisions we make."
Macy's goals were simple. It wanted to create an informed customer strategy by retaining and growing its customer base, developing nonloyals and converting nonpurchasers all while keeping its current customers loyal. To achieve this goal, Macy's realized it required a partnership. Retail personalization company dunnhumby teamed with Macy's to help it collect, gather and analyze data focused on customers and their shopping and purchasing behaviors. These data points come from three places, also known as the MOM method:
1. My Macy's. Macy's gets information from the field — what colors, styles, scents do the consumers want more of? "Our goal is simple, said Sachse. "It's to be the best national local retailer on the face of the earth and we think we have the mechanism to do that in My Macy's."