How Mr. Consistent uses data from the entire customer journey to make informed decisions about product offerings and marketing channels
- Written by Kahrissa Bell, Chief Brand Officer; Mr. Consistent
One thing that is certain in the beverage industry; customers have options! Whether it’s products, sales channels or marketing platforms you are looking at, there’s many options available to the customer base and making the right decisions for each one is imperative for business growth. At Mr. Consistent we have chosen to make a concerted effort to weave owned data with customer demand throughout our whole decision making process.
All of our cocktail mixers have a fruit base, which brings in an element of risk to the product development process - are we able to secure the fruit that we need to meet the demand from both the B2B and B2C customers? Utilising our accumulated data to make decisions to narrow down our options on viable products is the only way we are able to safely scale the business, whilst remaining as the market leaders in the cocktail mixer world.
Collecting feedback and data throughout the customer journey is important in enabling us to make informed decisions. By having both a B2B and B2C business model, we are able to draw information at many stages throughout the customer lifecycle journey to guide our company decisions. We utilise industry standard information such as SKU performance and sell through, Conversion Rate, Average Order Value, Customer Lifetime Value, Returning Customer Rate and more to guide our general decision making process. Gathering first party data and feedback from our customers post-purchase is invaluable to us though, as these are customers that have purchased from us, are usually engaged, and often have opinions on varying aspects of their purchasing journey. By listening to our customers, and often actively seeking out their opinions or reviews, we are able to tweak our product development and marketing focus to what our customer is responding to.
In a time where there are a plethora of channels within which we can reach our customers, deciding where to focus our efforts has been a balance of team foresight along with demand from our customers. A great example of this is our presence on TikTok - a channel which is absolutely fantastic for brand engagement and awareness, but not necessarily an immediate revenue driver. Making the decision to put a concerted effort towards building this channel and engaging with our customer in a more lighthearted manner was pursued more ferociously thanks to our stats from our click through rate on EDMs. We were able to draw on the information from these email click statistics to see that there was an upward trend of our already purchasing customer base clicking through to our TikTok social link. The demand was there organically, therefore building out our social presence on this platform became a priority, especially for a brand that prides themselves on having a strong social presence. We’ve been able to grow a large community on this platform and bring attention to our brand and products; something that may not have been such a priority without constant data analysis.
These marketing channels are often the last part of the product life cycle stage - getting the right product to market is imperative to staying fresh and consistent within the industry. Gathering data points along the customer journey enables us to constantly analyse what our audience is going to respond to - and what is going to cut through the noise of all the options in the market. Trialling recipes and sharing behind the scenes of product development on our social channels allows us to gather information around engagement and response, prior to ever having to begin true (and expensive) product development processes. If our customers aren’t excited about what we are releasing, marketing the product through campaigns is also likely going to fall flat. Weaving the customer response and demand into our data analysis allows us to mitigate risk on new product offerings whilst strengthening our trust and alignment with our community. It’s a constant push/pull scenario of deciphering what the right choices for business growth are going to be, but by drawing down on our data and applying this to our knowledge of the business, we are able to be more confident in our product and marketing choices.
Written by Kahrissa Bell, Chief Brand Officer, Mr. Consistent and keynote speaker at Online Retailer Conference in Sydney, 24th July. Kahrissa’s session will focus on ‘From Data to Daiquiris: Maximising Customer Data for Personalised Marketing and Improved Customer Experience’ with more information available here.
