Which steps should a retailer take to analyze segments regarding potential brands likely to convert into purchases?

Creating multiple segments for model and purchase events is a crucial step for a retailer to effectively analyze segments regarding potential brands likely to convert into purchases. This approach allows the retailer to identify various customer behaviors and preferences that can be nuanced based on different models of interactions, such as engagement prior to a purchase. By segmenting customers based on specific criteria tied to their purchasing behavior, the retailer can discern patterns that indicate which brands might be more appealing to particular groups. This segmentation approach enriches the understanding of customer journeys and improves targeting strategies, enhancing the likelihood of conversion.

In contrast, simply setting up a segment for customers who have browsed products provides a limited perspective, as it does not capture the full range of interactions that can indicate intent to purchase. Tracking social media engagements, while valuable for understanding brand perception, may not directly correlate with actual purchasing behavior. Focusing solely on high-value customers can exclude potential opportunities from lower-value segments that might also show significant interest in certain brands, potentially missing out on broader insights into shopper behavior and preferences across the entire customer base.