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2017 Digital Retail Innovation: 9 Areas Retail Marketers are Investing and Why

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Sailthru's research and strategy experts unveil new insights from a 2017 retail marketing trends study. Check out the presentation to learn the top trends fueling marketing programs that are exceeding goals, key areas where retail marketers are investing in innovation, practical applications for where and how AI is being tested and strategic recommendations on how to put these insights into action.

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2017 Digital Retail Innovation: 9 Areas Retail Marketers are Investing and Why

  1. 1. 2017 Digital Retail Innovation
  2. 2. 9 Areas Retail Marketers are Investing and Why 2017 Digital Retail Innovation Robert Jones Director, Research & Insights Marielle Habbel Director, Customer Strategy & Optimization
  3. 3. About the Study • Fielded in February 2017 • 200 Retail Marketer Respondents • 15 Questions on: • Success in 2016 • Challenges for 2017 • Plans to invest in new technology • Things to look forward to in 2017
  4. 4. One in five marketing orgs fell short of their 2016 goals • 19% of retail marketers said they feel short of their 2016 marketing goals. • 28% said they exceeded their goals. • Success in 2016 was strongly tied to budget growth in 2017. 75% of marketers who exceeded their 2016 goals had larger budgets for 2017.
  5. 5. Retailers Asked to Do More with Less in 2017 Resources, human, technical, and financial were most commonly listed as the biggest expected challenge to accomplishing 2017 marketing objectives. Concerns about Growth and Scalability both loomed high over retailers (16%) as well. Resources, 21% Growth/Scalin g, 16% Other, 15%Acquisition, 9% Leadership/Org, 7% Cross- Channel/Mobile, 6% Retention, 5% Customer Engagement, 5% Innovation/Tech, 4% Competition, 3% Data, 3% Attribution, 3% Personalization, 2% Automation, 1% Largest Expected Challenges in 2017, Categorized
  6. 6. Retailers see Email, Mobile as Keys to Meeting Goals After their sites, email and mobile are the channels that retailers say are most likely to generate the most online revenue for their organizations in 2017. Q. Which platform/channel do you see generating the most online revenue for your organization in 2017? (digital channels) Online 56% Email 18% Mobile 7% Other 8% Social 4%
  7. 7. Retailers See Lots of Room to Innovate in Email Half of retailers (51%) see “lots” of room to innovate in their email marketing, while nearly half (45%) see “some room to innovate. Only 3% say there’s little-to- no room to innovate. Q. To what degree do you see your approach to email marketing as having room for innovation? 1% 2% 45% 51% None Low - Little room to innovate Medium - There is some room to innovate High - There is lots of room to innovate
  8. 8. 1 in 4 Retailers Aren’t Ready for Cross-Channel Q. Do you feel that your org has the foundation and structure it needs to excel in multi-cross/channel campaign management in 2017?• 27% of retailers think their orgs aren’t ready for cross/multi- channel campaigns, with the primary barriers being a lack of integrated tech and a lack of understanding of the relevant strategies
  9. 9. Retailers see Email, Mobile as Keys to Meeting Goals Retailers see Email as the top channel for retaining existing customers in 2017, and among the top channels for acquiring new customers, with Mobile a distant (but prominent) second. Channel Driving New customers Retaining Existing customers Email 24% 56% TV 3% 1% Social 23% 10% Mobile 10% 12% Digital Advertising 24% 8% Print 2% 4% Native 3% 3% Other 10% 7% Q. Which channels do you expect to have the most success with in 2017 with regard to driving new customers and retaining existing customers?
  10. 10. AI Primarily Used for Search, Recommendations Although marketers have been able to leverage Artificial Intelligence (AI) for some time, adoption is still limited. Of the two thirds of marketers (66%) who leverage AI for marketing purposes, the most common applications are in Search (37%) and product recommendations (33%). Q. For what channels/in what ways do you currently use AI to accomplish your goals? Search 37% Recommendation Engines 33% Programmatic Advertising 26% Data Science 26% Marketing Forecasting 4% Chatbots 13% Other 5%
  11. 11. Email, Mobile Also Key Areas of Investment in 2017 Half (50%) of retailers plan to increase their investment in Email marketing and automation in 2017, and 38% plan to increase their investment in mobile marketing. Q. For each of the following marketing tactics/channels, do you plan to increase or decrease your investment in 2017? Channel Decrease Same Increase Native advertising 4% 63% 33% Content marketing 0% 63% 37% Facebook/Google advertising 4% 52% 44% Snapchat advertising 8% 75% 17% Pinterest advertising 8% 67% 25% Programmatic advertising 0% 75% 25% Email/Marketing automation 0% 50% 50% Mobile marketing 0% 62% 38% ROI & Measurement 0% 58% 42% Owned media 1% 67% 29%
  12. 12. Excitement in 2017 Stems from Personalization, AI When asked about what marketing technology innovations they are most excited for in the upcoming year, retailers primarily listed Personalization (22%) and the application of Artificial Intelligence (11%) as the areas generating the most excitement. Personalization, 22% Other, 17% AI, 11% Data, 11% Cross-Channel, 8% Mobile, 6% Native, 5% Optimization, 5% Programmatic, 5% Automation, 3% Design, 3% Video, 3% Retargeting, 2% Social, 2% Areas of Innovation that Retailers are Excited for in 2017, Categorized
  13. 13. To Recap: 1. Retailers’ primary concern in 2017 is being asked to do more with less, particularly if they struggled to meet goals in 2016 2. Retailers see Email and Mobile as key Channels that will drive growth and success in 2017 3. Retailers see plenty of room to innovate in these channels in 2017, and plan to invest more in them 4. Automation and cross-channel are two of the major ways they’re looking to get more out of these channels
  14. 14. www.sailthru.com sales@sailthru.com 817.812.8689 @sailthru NYC HQ 160 Varick St., 12th Floor New York, NY 10013 San Francisco 360 Clementina Street San Francisco, CA 94103 Los Angeles 7083 Hollywood Blvd 5th Floor, Los Angeles, CA 90028 London 6 Ramillies Street 2nd Floor, London W1F 7TY, United Kingdom Wellington 31 Dixon Street Level 2, Wellington 6011, New Zealand Thank you

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