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The Future of Retail Marketing

by Kyle Lacy

2,437 views

The ways in which email subscribers and social media fans interact with brands are evolving rapidly. Today's struggles is not only to build this "earned" audience but also to retain their attention in ...

The ways in which email subscribers and social media fans interact with brands are evolving rapidly. Today's struggles is not only to build this "earned" audience but also to retain their attention in today's noisy marketing landscape. Join ExactTarget's Kyle Lacy as he shares insights and strategies obtained after analyzing the offline and online marketing behavior of NRF's 100 hottest growing retailers. Learn from the top performers in your industry as he shares the lessons learned and how to re-energize your cross channel audience.

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How many people watch mad men?Typical of a generation but a type of marketer at the time
How many people watch mad men?Typical of a generation but a type of marketer at the time
How many people watch mad men?Typical of a generation but a type of marketer at the time
And like with any change and rapid growth there are pain points and challenges. Retailers must learn to accept these changes and embrace the challenges of today’s environment or they will be left behind. No matter what type of retailer you are (brick and mortar, e-commerce or both) or how big or small your business is all retailers face the same challenges. At ExactTarget we have identified four main challenges that most (if not all) retailers face. We believe that we can assist retailers overcome these challenges with the use of ET products and services.Increasing traffic and conversion Creating Customer LoyaltyLeveraging Technology & DataThe (shift of) power (to) of the customer
Challenge #1: Increasing traffic and conversionDriving traffic to stores (both brick and mortar and online- website, mobile, tablet) and converting these people into purchasers is always a challenge for retailers. ExactTarget has helped countless retailers on driving both traffic and conversion numbers.Some ideas on how to increase traffic and conversion both on and offline are: Special events, VIP customer shopping experiences, sales promotions, exclusive product offerings, sweepstakes & contests, product customization, top-notch customer service.All of these ideas can communicated to customers via digital channels. The next slide(s) show you some examples of how ET has powered these types of Marketing programs for retailers.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Satisfy the CustomerThe easiest, and possibly the most affordable, way to build customer loyalty is to satisfy the customer. Begin by implementing the most basic customer service rule: treat the customer the way you want to be treated when shopping. Ideas: Back in stock emails, customer survey emails
Acknowledge the CustomerWho doesn’t want to feel special and want to be acknowledged in a personalized manner? Making a customer feel like they are being given undivided attention can go along way in customer loyalty. Speaking to them directly and understanding their wants and needs is one way to satisfy this challenge.Examples, segmentation, personalization, dynamic content, 1:1 communication on social media
Reward the CustomerFrom store cards that discount certain items, to free gifts with purchase, there are numerous ways to incorporate a customer reward program. A lot of times it doesn’t even have to be an expensive task. Simply sending a personalized email message upon purchase is a great way to say thanks and to offer them a discount or even a sneak peak of some upcoming merchandise.
Challenge #3: Leveraging technology and dataThe digital era definitely gives retail marketers the opportunity to speak more directly with customers and really connect with them on the 1:1 level. The use of data & technology plays a big part in this very personalized relationship.Once you have people coming into your stores and coming back for more it is time to start collecting information from them….Sound simple, yeah right! Sorting through all of the data you have collected and keeping up on the latest technology trends is a very daunting task for most retailers. Even the most sophisticated retailers are still not where they would like to be with their data usage.
Challenge 4: The Power of the customerNot only do retailers have more information about their consumers, but consumers have more information about retailers. Gone are the days when brands and retailers tell customers what they need and where to purchase these items. In today’s retail marketplace, customers are hyper-connected to technology and are inundated with resources that influence their purchasing decisions. With an overload of information at their fingertips, customers are empowered to make more educated purchasing decisions than ever before.
Increasing communication between customers: The ability to share information between people is faster and easier than ever before. Social media, email and texting have all made a major change the way we communicate with each other. Consumers are now using these channels to find out what products and brands their friends and family are purchasing and what they think about these items. 24% of American adults say they've posted comments about a purchase they've made & 62% of people read online reviews before making a purchase. In addition posting something on your Facebook wall or tweet a message about a product you want to purchase will immediately provide the consumer with hundreds of opinions and recommendations.
Jason Miller at Pei Wei does a great job of innovating when it comes to mobile and social marketing. In October, he ran a cross-channel voting program for the “Diner Selects” initiativeAllowed consumers to vote in-store, online and on social networksHe saw a unique pattern of votes for text voters vs. social votersThe real-time-ness of the votes prompted more votes
Landing page for Caramel Chicken BOBO Offer sign-up and Email Subscription
Email sign-up form
Email sign-up form
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.
Challenge #2: Creating customer loyaltyGetting customers to come back to your brand is a difficult task for any retailer. Great news though..Retail customers are very loyal to their stores… Looking at the chart above of a Forrester research survey you can see that Retail is #1 in customer loyalty. This means that consumers are less likely to switch where they buy their favorite shoes than where they deposit their paychecks! At ET we have a long history of helping retailers create customer loyalty within their stores (both online and brick & mortar). As we take a closer look at customer loyalty we will also review some examples of how are clients have been able to keep customers coming back again and again.

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The Future of Retail Marketing Presentation Transcript