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Using Predictive Analytics to Create VIP Customers with Kristin Maa, SVP of Growth at Saks
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This episode features an interview with Kristin Maa, Senior Vice President of Growth at Saks. At Saks, Kristin leads growth and retention marketing and online category growth. She has held various leadership roles at Saks Fifth Avenue and HBC in marketing and business strategy.
In this episode, Kailey and Kristin discuss customer DNA, uniting online data and in-store experience, and creating VIP customers through predictive analytics.
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Key Takeaways:
- Customers expect their digital profiles to be reflected in their in-store experience. It’s critical for associates to structure in-person conversations around online data to provide a personalized omnichannel experience.
- Through the use of predictive analytics, it’s possible to identify potential high LTV customers based on their behavioral data. This practice gives customers the VIP treatment and leads to higher engagement and retention.
- Customer DNA helps pinpoint which brands, categories, and engagement channels customers prefer. This enables marketers to identify and suggest similar products and channels a shopper might be interested in, effectively moving them along their engagement journey.
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“If we are giving early access to our VIP customers, we're also taking a group of people that haven’t ‘earned’ that status already, but they're indicating that they probably will, and going ahead and giving it to them because we want to make sure that we're retaining them. It gives us a better chance to engage them and wrap our arms around them early and make sure that they fulfill their destiny as that high LTV, VIP customer that we think that they're going to be.” – Kristin Maa
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Episode Timestamps:
*(02:08) - Kristin’s background
*(04:23) - Industry trends in customer engagement in luxury retail
*(11:11) - How Saks is building personalized digital experiences
*(18:24) - How Kristin defines “good data”
*(22:10) - How Saks is using good data to build customer engagement
*(28:02) - An example of another company doing it right with customer engagement (hint: it’s Delta)
*(31:34) - Changes in customer engagement in the next 6 to 12 months
*(35:14) - Kristin’s recommendations for upleveling customer engagement
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Links:
Connect with Kristin on LinkedIn
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