A well-established loyalty program has many advantages, among them is the ability to gather insights on shoppers in order to build meaningful relationships with them. But how much data do we really have?
When shoppers register to a loyalty program, they might be asked questions about age, household size or maybe even income and monthly grocery spend. Take a closer look at market segments here. But over time, this data might be incomplete, inaccurate, outdated or simply missing. We might also track shoppers purchasing history at our stores. But how much more valuable would it be to also see the missing opportunities in categories and brands that shoppers buy elsewhere?
To fill these blind spots, GfK and Segment of One (SO1) have developed “Attribution+” — a platform that enables retailers to enrich loyalty program data with information from GfK Consumer Panels and beyond.
Fill in missing socio-demographics and loyalty in-store
Imagine you want to run a promotion campaign on a newly introduced premium wine brand targeted at young families earning 50k+ with monthly overall grocery budget of at least 1k. This is the type of data that you hardly ask shoppers directly.
With Attribution+, you don’t need to ask anything. The tool uses advanced machine learning algorithms to derive attributes automatically by observing their shopping behavior and comparing it with available GfK panel data.
This way, loyalty program data can be quickly enriched by new attributes such as age, household size, available income and loyalty in store (how much shoppers spend with you vs. elsewhere).
Discover shopper purchases with your competitors
Now imagine knowing the amount of money your shoppers spend at their top 3 retailers to buy the rest of their requirements. You could specifically design and target promotions to avoid churn, win shoppers back and win over these competitors.
Attribution+ will also provide insights on what categories

View Entire Article on GFK.com