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Macy's CMO Shares Loyalty Insights At NRF Big Show
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Seven out of 10 Americans visit a Macy's store or its website at least once a year. That's 70% of all Americans — a loyal base of customers that was just crying out to be capitalized upon, said Macy's CMO Peter Sachse, in a session at the National Retail Federation's Big Show on Jan. 16. Sachse detailed for the first time some of the specifics of its collaboration with dunnhumbyUSA on MyMacy's, an initiative that he said has increased both sales and earnings.
“We saw we don't need more customers — we need the customers we have to spend more time with us,” Sachse said. “Therein lies the whole idea of loyalty.”
Through MyMacy's, Sachse said the company and dunnhumbyUSA deployed a customer-centric campaign that brought a more extreme level of customization to their customers. Macy's gathers information daily from the field regarding sales and specific customer preferences, Sachse said.
To do this, the 154-year-old company needed to capture customer data in a meaningful way and “create a new language” that would be used throughout the organization, from the sales associates up to the chief executives, Sachse said.
MyMacy's gathers and analyzes Macy's customer data through three rubrics: MyCustomerLoyalty, which measures the intersection of frequency and sales; MyCustomerBehavior, which monitors customer behavior, such as style preferences and personal motivations in-store and online; and MyCustomerEngagement, which measures the success of the previous two.
Read the entire DMNews article
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