In Q4 of 2013, we surveyed over 100 retail marketing executives across the United States on what technologies, data, and innovative ideas were most important to them. Not only that, we asked them what there current budgets and planned budgets were for all these strategies over the next 5 years. The results were surprising!
In a rapidly evolving, digitally driven world, how do marketers really feel about new platforms, new data sources and new expectations of their role? Marketing Monitor is a study from TNS that surveys more than 2,700 marketers from across Asia Pacific to track the key issues dominating their agenda.
E marketer marketing_automation_roundupChafik YAHOU
Key elements include:
Inbound marketing tactics being used to drive leads.
Programmatic buying strategies for now and the future.
The influence of mobile device adoption on automation.
A look at how behavioral data is being tied in with B2B marketing automation programs
Across sectors and regions, business leaders are recognizing the competitive advantage of
superior customer experience and the value that resides not only in what a company delivers
for its customers, but in how it delivers products and services. Where companies once
could differentiate themselves by product or efficiency, distinctiveness today increasingly
lies in creating a seamless, omnichannel customer experience.
As leaders of McKinsey’s Customer Experience Service Line, we are delighted to present this
volume of Customer experience: New capabilities, new audiences, new opportunities. This
compendium draws from the collective thinking of our experts and practitioners, and follows
by just 18 months our first volume of thinking on the subject. That in itself speaks to how
rapidly the landscape of customer experience is evolving, and how intently business leaders
are focused on it.
In a rapidly evolving, digitally driven world, how do marketers really feel about new platforms, new data sources and new expectations of their role? Marketing Monitor is a study from TNS that surveys more than 2,700 marketers from across Asia Pacific to track the key issues dominating their agenda.
E marketer marketing_automation_roundupChafik YAHOU
Key elements include:
Inbound marketing tactics being used to drive leads.
Programmatic buying strategies for now and the future.
The influence of mobile device adoption on automation.
A look at how behavioral data is being tied in with B2B marketing automation programs
Across sectors and regions, business leaders are recognizing the competitive advantage of
superior customer experience and the value that resides not only in what a company delivers
for its customers, but in how it delivers products and services. Where companies once
could differentiate themselves by product or efficiency, distinctiveness today increasingly
lies in creating a seamless, omnichannel customer experience.
As leaders of McKinsey’s Customer Experience Service Line, we are delighted to present this
volume of Customer experience: New capabilities, new audiences, new opportunities. This
compendium draws from the collective thinking of our experts and practitioners, and follows
by just 18 months our first volume of thinking on the subject. That in itself speaks to how
rapidly the landscape of customer experience is evolving, and how intently business leaders
are focused on it.
Pharma Marketing: Get Started on Creating Great Customer Experiences with Jou...run_frictionless
A well-defined customer journey strategy is critical to customer experience management (CEM) initiatives.1 Yet most pharmaceutical companies have not followed the lead of industries like consumer packaged goods, retail, or travel and hospitality, which pioneered and mastered the art and science of personalized, cross-channel customer journeys. While recognizing that customer journeys are often more complex for pharma than for other sectors, it’s imperative for life sciences to develop and apply journey strategies similar to those of other industries when transforming customer experiences.
https://runfrictionless.com/b2b-white-paper-service/
Insights Throughout the CPG Brand LifecycleNM Incite
NM Incite’s social media research and analytics offer brands insight into real-time, authentic consumer expression that can transform how marketers build strong brands, create passionate and engaged communities and ultimately achieve superior sales outcomes. Learn how NM Incite’s solutions can be layered with other Nielsen assets to produce powerful insights, providing a valuable competitive advantage.
Over the last 18+months, consumer behavior has witnessed tectonic shifts owing to the pandemic. Capgemini's recent report highlights these dynamic trends and evolving consumer behavior for consumer products and retails industries as we move forward in the new year.
50 Must Know Statistics for B2B Lead GenerationPierre de Braux
If you want to improve your lead generation capabilities, it's important that you know the facts.
Learn more about lead generation at: http://pureb2b.com/blog
The world of B2B marketing has changed dramatically with the advent of internet and the increased connectivity in today's world. Traditional marketing methods are getting increasingly ineffective as buyers become more informed and highly aware of the products or solutions they need.
How An AI-Powered Trade Promotion Optimization Software Can Improve Consumer ...Gina Shaw
Artificial Intelligence (AI) will happen in both TPx and Retail Execution sooner than you probably think – Promotion Optimization Institute
According to Nielsen Holdings, 40% of Consumer Goods trade promotion spending doesn’t drive the desired results. Even though the trade promotions spend take up a lion’s share of the organizational revenue, traditionally manufacturers have always struggled in optimizing their promotion mix for the maximum bang for the buck.
With the advancements in AI technologies, it is now possible to powerfully harness data and run high-yield trade promotions.
What You Can Expect From The eBook?
1. Key Trade Promotion Optimization (TPO) challenges faced today
2. What is AI in the context of TPO?
3. How AI helps run profitable trade promotions?
4. What an AI-Powered analysis looks like?
5. Case-studies
6. How you can get started right away!
their reporting and trackingHow Industrial Marketers Track ROI?Andrew Flynn
More and more, marketers are being tasked with proving the return on investment (ROI) of their marketing initiatives. This can pose a challenge, because there are many ways to determine the results and value of each campaign. For our most recent Marketing Maven survey, we wanted to know more about how industrial marketers handle proving ROI and what challenges they encounter.
Forrester: CPG Consumer Engagement in a Digital Worldaccenture
Accenture commissioned Forrester Consulting to evaluate the opportunity for CPG marketing leaders to market and sell directly to consumers.
For more information view us on www.accenture.com/ConsumerGoods
RETAIL TOUCHPOINTS BENCHMARK REPORT RETAILERS SHIF T STRATEGI.docxaudeleypearl
RETAIL TOUCHPOINTS BENCHMARK REPORT: RETAILERS SHIF T STRATEGIES TO CATCH UP WITH CHANGING SHOPPERS
1
2019 BENCHMARK REPORT:
CUSTOMER ACQUISITION
AND RETENTION
SURVEY REPORT
RETAILERS SHIFT
Strategies
TO CATCH UP WITH
CHANGING SHOPPERS
https://www.retailtouchpoints.com/
RETAIL TOUCHPOINTS BENCHMARK REPORT: RETAILERS SHIF T STRATEGIES TO CATCH UP WITH CHANGING SHOPPERS
2
Intro: Retailers Shift Strategies To Catch Up With Changing Shoppers ................................................................................................................................
Social And Email Lead Acquisition Strategies, But In-Store Interactions, Traditional Ads Still Play Roles.................................................................
Content, Events Claim Bigger Share Of Acquisition Budgets.....................................................................................................................................................
Only 28% Of Retailers Have A Mobile Acquisition Strategy In Place......................................................................................................................................
Retailers Still Rely On Discounts To Retain Customers, But In-Store Relationships Continue To Matter ..................................................................
Retailers Are More Efficient At Retaining Shoppers Despite Lower Marketing Spend.....................................................................................................
Low-Price Competitors, Marketplaces Present Top Shopper Retention Challenges ........................................................................................................
Subscription Still Has Room For Growth; 59% Of Shoppers Keep A Subscription For 6 Months Or More...............................................................
Measuring Customer Lifetime Value Is Still No Easy Task ...........................................................................................................................................................
Top Takeaways For Investing In Customer Acquisition And Retention ..................................................................................................................................
About Retail TouchPoints.........................................................................................................................................................................................................................
3
4
5
6
7
8
9
10
11
12
13
Table of Contents
RETAIL TOUCHPOINTS BENCHMARK REPORT: RETAILERS SHIF T STRATEGIES TO CATCH UP WITH CHANGING SHOPPERS
Retailers are at an impasse today — they feel plenty of pressure to attract as many
new consumers as possible to generate more traffic and sales, but they also have an
equally important task — ensuring that these shoppers will return again and again
after their initial purchase. Merchants are discovering that ...
The BRITE '12 conference (March 5-6) marked the unveiling of the Center on Global Brand Leadership and the New York American Marketing Association (NYAMA)'s first BRITE-NYAMA Marketing Measurement in Transition Study entitled, Marketing ROI in the Era of Big Data.
The aim of the study was to gain a better understanding of changing practices among large corporate marketers in the following areas: data collection and usage, marketing measurement and ROI, and the integration of digital and traditional marketing.
In surveying 253 marketing executives from large corporations, the study found both widespread adoption of new digital tools, and support for the use of new data to drive marketing decisions and measure marketing ROI. However, significant gaps exist between desire and execution as companies strive to measure marketing ROI. The overall picture of marketing by large corporations revealed significant need for improvements in the use of data, the measurement of digital marketing, and the assessment of marketing ROI.
http://gsb.columbia.edu/globalbrands
http://www.nyama.org
Pharma Marketing: Get Started on Creating Great Customer Experiences with Jou...run_frictionless
A well-defined customer journey strategy is critical to customer experience management (CEM) initiatives.1 Yet most pharmaceutical companies have not followed the lead of industries like consumer packaged goods, retail, or travel and hospitality, which pioneered and mastered the art and science of personalized, cross-channel customer journeys. While recognizing that customer journeys are often more complex for pharma than for other sectors, it’s imperative for life sciences to develop and apply journey strategies similar to those of other industries when transforming customer experiences.
https://runfrictionless.com/b2b-white-paper-service/
Insights Throughout the CPG Brand LifecycleNM Incite
NM Incite’s social media research and analytics offer brands insight into real-time, authentic consumer expression that can transform how marketers build strong brands, create passionate and engaged communities and ultimately achieve superior sales outcomes. Learn how NM Incite’s solutions can be layered with other Nielsen assets to produce powerful insights, providing a valuable competitive advantage.
Over the last 18+months, consumer behavior has witnessed tectonic shifts owing to the pandemic. Capgemini's recent report highlights these dynamic trends and evolving consumer behavior for consumer products and retails industries as we move forward in the new year.
50 Must Know Statistics for B2B Lead GenerationPierre de Braux
If you want to improve your lead generation capabilities, it's important that you know the facts.
Learn more about lead generation at: http://pureb2b.com/blog
The world of B2B marketing has changed dramatically with the advent of internet and the increased connectivity in today's world. Traditional marketing methods are getting increasingly ineffective as buyers become more informed and highly aware of the products or solutions they need.
How An AI-Powered Trade Promotion Optimization Software Can Improve Consumer ...Gina Shaw
Artificial Intelligence (AI) will happen in both TPx and Retail Execution sooner than you probably think – Promotion Optimization Institute
According to Nielsen Holdings, 40% of Consumer Goods trade promotion spending doesn’t drive the desired results. Even though the trade promotions spend take up a lion’s share of the organizational revenue, traditionally manufacturers have always struggled in optimizing their promotion mix for the maximum bang for the buck.
With the advancements in AI technologies, it is now possible to powerfully harness data and run high-yield trade promotions.
What You Can Expect From The eBook?
1. Key Trade Promotion Optimization (TPO) challenges faced today
2. What is AI in the context of TPO?
3. How AI helps run profitable trade promotions?
4. What an AI-Powered analysis looks like?
5. Case-studies
6. How you can get started right away!
their reporting and trackingHow Industrial Marketers Track ROI?Andrew Flynn
More and more, marketers are being tasked with proving the return on investment (ROI) of their marketing initiatives. This can pose a challenge, because there are many ways to determine the results and value of each campaign. For our most recent Marketing Maven survey, we wanted to know more about how industrial marketers handle proving ROI and what challenges they encounter.
Forrester: CPG Consumer Engagement in a Digital Worldaccenture
Accenture commissioned Forrester Consulting to evaluate the opportunity for CPG marketing leaders to market and sell directly to consumers.
For more information view us on www.accenture.com/ConsumerGoods
RETAIL TOUCHPOINTS BENCHMARK REPORT RETAILERS SHIF T STRATEGI.docxaudeleypearl
RETAIL TOUCHPOINTS BENCHMARK REPORT: RETAILERS SHIF T STRATEGIES TO CATCH UP WITH CHANGING SHOPPERS
1
2019 BENCHMARK REPORT:
CUSTOMER ACQUISITION
AND RETENTION
SURVEY REPORT
RETAILERS SHIFT
Strategies
TO CATCH UP WITH
CHANGING SHOPPERS
https://www.retailtouchpoints.com/
RETAIL TOUCHPOINTS BENCHMARK REPORT: RETAILERS SHIF T STRATEGIES TO CATCH UP WITH CHANGING SHOPPERS
2
Intro: Retailers Shift Strategies To Catch Up With Changing Shoppers ................................................................................................................................
Social And Email Lead Acquisition Strategies, But In-Store Interactions, Traditional Ads Still Play Roles.................................................................
Content, Events Claim Bigger Share Of Acquisition Budgets.....................................................................................................................................................
Only 28% Of Retailers Have A Mobile Acquisition Strategy In Place......................................................................................................................................
Retailers Still Rely On Discounts To Retain Customers, But In-Store Relationships Continue To Matter ..................................................................
Retailers Are More Efficient At Retaining Shoppers Despite Lower Marketing Spend.....................................................................................................
Low-Price Competitors, Marketplaces Present Top Shopper Retention Challenges ........................................................................................................
Subscription Still Has Room For Growth; 59% Of Shoppers Keep A Subscription For 6 Months Or More...............................................................
Measuring Customer Lifetime Value Is Still No Easy Task ...........................................................................................................................................................
Top Takeaways For Investing In Customer Acquisition And Retention ..................................................................................................................................
About Retail TouchPoints.........................................................................................................................................................................................................................
3
4
5
6
7
8
9
10
11
12
13
Table of Contents
RETAIL TOUCHPOINTS BENCHMARK REPORT: RETAILERS SHIF T STRATEGIES TO CATCH UP WITH CHANGING SHOPPERS
Retailers are at an impasse today — they feel plenty of pressure to attract as many
new consumers as possible to generate more traffic and sales, but they also have an
equally important task — ensuring that these shoppers will return again and again
after their initial purchase. Merchants are discovering that ...
The BRITE '12 conference (March 5-6) marked the unveiling of the Center on Global Brand Leadership and the New York American Marketing Association (NYAMA)'s first BRITE-NYAMA Marketing Measurement in Transition Study entitled, Marketing ROI in the Era of Big Data.
The aim of the study was to gain a better understanding of changing practices among large corporate marketers in the following areas: data collection and usage, marketing measurement and ROI, and the integration of digital and traditional marketing.
In surveying 253 marketing executives from large corporations, the study found both widespread adoption of new digital tools, and support for the use of new data to drive marketing decisions and measure marketing ROI. However, significant gaps exist between desire and execution as companies strive to measure marketing ROI. The overall picture of marketing by large corporations revealed significant need for improvements in the use of data, the measurement of digital marketing, and the assessment of marketing ROI.
http://gsb.columbia.edu/globalbrands
http://www.nyama.org
IEEE GlobalSpec recently conducted its annual Trends in Industrial Marketing survey. We asked
marketing and sales professionals in the industrial sector to address marketing trends, challenges,
and expenditures within the engineering, technical, manufacturing and industrial communities. This report analyzes and presents the results of the survey, and, offers recommendations to
industrial marketers to help them allocate their budgets, develop a sound marketing strategy,
and plan effective programs and campaigns.
"Budget + Strategy: Tipping the Balance (Sheet) in Your Favor" WebinarBluespire Marketing
During this BlueSpire TrendLab webinar, our marketing experts analyze results from an exclusive BlueSpire poll on what marketers are experiencing with budgeting and strategic planning.
Among the many things discussed during the webinar were:
- How financial and healthcare marketers are approaching/handling strategic planning and budgeting.
- The importance of tracking, measuring and reporting, all key elements to consider when deciding how to target audiences and get budgets approved.
- Specific recommendations that can be implemented at any type of organization, including those in highly regulated industries.
capgemini research on cmo responsibilities with changing times in 2021Social Samosa
The latest Capgemini research highlights the need for CMOs to transform their skills with the evolving times and reimagine the customer journey with real-time engagement for a data-driven marketing environment.
The most comprehensive marketing report of 2015 is here. Salesforce surveyed over 5,000 marketers globally to understand top priorities for 2015 across all digital channels. Inside this second annual report, you get an unparalleled look at the modern marketer’s mindset, including:
3 most pressing business challenges
Top 5 areas for increased spending
Biggest changes from 2014
Hottest trends in social, mobile, and email marketing
It’s no surprise that B2B and B2C marketers have different goals and strategies. In January, we released new research on the overall state of marketing — including businesses of all sizes and types, based on the responses of 5,000+ global marketers.
Now we’re separating B2B from B2C marketers. Today, we present you with data about B2B trends, goals, and obstacles in 2015 with the 2015 State of B2B Marketing.
Using survey responses from 2,100+ B2B marketers, this report takes a look at what B2B marketers are really thinking and dealing with this year.
4C CMO Aaron Goldman and VP, Business Intelligence, Advertiser Perceptions Justin Fromm discuss recent research into audience-based advertising from 4C and Advertiser Perceptions on this webinar. www.4Cinsights.com/advertiser-perceptions
This report details our findings about which content tactics B2B marketing organizations are using, and which distribution channels are most effective in the after-sales cycle. This data should help CMO’s invest in the right content marketing tactics for executing their post-sales content marketing strategy.
Developing effective value creation in digital advertising. Focuses on how programmatic media buying strategy can identify value which enables brands to build upon customer relationships. By aligning operations and analysis around overall marketing strategies programmatic media industry participants can increase the vale they provide.
In this guide, you'll be walked through a step-by-step process to setting goals for your organization in 2016 and beyond. More than just setting targets, this guide will help you set the tasks needed to reach your end of year metrics.
Marketers are struggling to use customer data and technology to engage consumers at brick-and-mortar stores. This goes over the data in our recent eBook on clienteling and customer engagement strategies marketers are using today.
This brochure gives an overview of the multichannel database platforms that Yes Lifecycle Marketing has to offer to its clients, both in the Business-to-Business and Business-to-Consumer verticals.
2. Survey Report: Breaking Through Customer Engagement Barriers 2
Introduction................................................................................................................. 3
Key Findings................................................................................................................ 3
Marketing Budgets Span Channels.............................................................................. 5
Facilitating Marketing Efforts Across Channels..............................................................7
Striving For Real-Time Marketing................................................................................. 9
Effective Use of Data: The Power Behind Relevant Campaigns...................................11
Different Types Of Data Impact Promotional Strategies.............................................. 12
Mobile POS: The Near Frontier.................................................................................. 14
Advancing The Overall Benefits Of Mobile Technology .............................................. 15
In-Store Wi-Fi Trends................................................................................................. 16
Embracing The Future With New Technology Investments......................................... 17
Conclusion................................................................................................................ 18
Respondent Demographics....................................................................................... 19
About Yes Lifecycle Marketing...................................................................................20
About Retail TouchPoints...........................................................................................20
Table of Contents
3. Survey Report: Breaking Through Customer Engagement Barriers 3
Introduction
Retailers emphasize that providing the best possible experience for customers is a
top priority. But are they implementing the strategies and technologies to deliver on
that promise? Innovative marketing technologies designed to articulate customer
relevancy, trigger engagement, excite shoppers and elicit cross-channel sales are
becoming more sophisticated and often more affordable by the day.
Please rank these factors regarding the importance when it comes to
obtaining approval for investments in sales and marketing technologies.
Ranked 1 on a scale of 1-5
We want to provide the best possible
experience for customers with our brand 65%
We need to constantly be experimenting to learn
what works the best to serve our customers 14%
We need to make investments to lower our cost
of doing business 7%
We need to keep up with what our competitors
are doing 14%
Key Findings
A recent survey of 100 retail executives, conducted by Yes Lifecycle Marketing,
collected candid responses to marketing and technology questions. Among the
key fidings:
• Retailers are lagging in their adoption of technology. For example, less
than one third of retailers have implemented tools such as: in-store Wi-Fi
(32%), mPOS (26%), and purchasing through social channels (24%).
• Retailers are struggling to combine multiple sources of data. Leveraging
customer data was the greatest concern for 84% of retailers.
• A small percentage of retailers are integrating campaigns across
channels. Just 37% said they are providing a consistent multichannel
marketing message across all channels.
4. Survey Report: Breaking Through Customer Engagement Barriers 4
Though marketers are inundated with consumer information, much of it is
fragmented across channels and internal/external silos, according to a recent study
from Yesmail Interactive, in conjunction with Gleanster Research. Lack of alignment
constrains marketers as they seek to meld customer data with marketing strategies,
program creativity and results measurement.
However, “7 out of 10 organizations easily could boost customer profitability, capture
more revenue and increase customer satisfaction if they had access to a more robust
and sophisticated view of customer behavior, purchase history, socio-demographic
data, household information and propensity to purchase data,” said Ian Michiels,
Principal and Managing Director of Gleanster Research.
Following is a summary of the 9 key marketing, data and technology issues retailers
face most often and how they plan to tackle them.
Please rank these marketing issues, in order of greatest concern.
Ranked 1 on a scale of 1-5
Effectively utilizing the data
we already have
Integrating new data
Finding the right technology
Obtaining buy-in from senior management
47%
Using analytics
11%
Integrating social/mobile
18%
8%
8%
8%
5. Survey Report: Breaking Through Customer Engagement Barriers 5
I. Marketing Budgets Span Channels
To best reach the goal of
providing stellar customer
experiences, retailers are
committed to marketing
across all channels, with
brick-and-mortar stores
receiving the greatest
percentage (72%)
of funding.
Retailers anticipate that by
2018, brick-and-mortar
stores still will receive the
greatest share (50%) of
the marketing budget.
They also revealed that
some marketing dollars
would shift from brick-
and-mortar to other
channels. This move
seems to underscore
retailers’ ongoing
commitment to
marketing across
all channels.
Please rank the following channels in terms of percentage of
annual marketing budget dedicated to each in 2013.
Brick and mortar stores
Online (brand website)
Mobile (smartphones)
Social channels
Mobile (tablets)
72%
22%
2%
2%
1%
Please rank the following channels in terms of percentage of
anticipated annual marketing budget dedicated to each by 2018.
Ranked 1 on a scale of 1-5
Brick and mortar stores
Online (brand website)
Mobile (smartphones)
Social channels
Mobile (tablets)
50%
31%
9%
5%
4%
6. Survey Report: Breaking Through Customer Engagement Barriers 6
Continued support of
brick-and-mortar makes
sense, since this channel
generated in the greatest
amount (76%) of annual
revenue in 2013, and is
expected to continue on
that trend.
More specifically, retailers
anticipate that by 2018,
the brick-and-mortar store
would still generate as
much as 70% of
annual revenue.
This report also identifies
which technologies
retailers believe will be
most effective in the next
five years, along with
some surprises.
The overarching question
for retailers is: Where
does your company stand
in the commitment to new
technologies, customer
relevancy marketing and
exceptional customer
experiences, compared to
100 of your
surveyed peers?
Please rank the following channels in terms of percentage of annual
revenue in 2013.
Ranked 1 on a scale of 1-5
Brick and mortar stores
Online (brand website)
Mobile (smartphones)
Social channels
Mobile (tablets)
76%
18%
2%
2%
2%
Please rank the following channels in terms of percentage of
anticipated annual revenue by 2018.
Ranked 1 on a scale of 1-5
Brick and mortar stores
Online (brand website)
70%
24%
Mobile (smartphones)
0%
Social channels
Mobile (tablets)
3%
3%
7. Survey Report: Breaking Through Customer Engagement Barriers 7
II. Facilitating Marketing Efforts
Across Channels
Multi-source customer data accessed before, after or during a retail transaction
can assist marketers in a multitude of cross-channel initiatives, such as message
continuity. Yet 63% of survey respondents said they are not providing consistent
marketing messages across all channels. Half of marketers said they coordinate
marketing campaigns across some channels, and 13% admitted that their marketing
efforts are isolated within individual channels.
Please describe your current marketing strategy.
We provide a consistent
multichannel marketing
message across all channels
We market within each
channel separately
We coordinate marketing
messaging across some,
but not all, channels
50%
37%
13%
This means that today, when the industry is more intent on multichannel consistency,
just one third of marketers are integrating campaigns across all channels.
8. Survey Report: Breaking Through Customer Engagement Barriers 8
To succeed, retailers must become more deliberate about consolidating cross-
channel marketing efforts, said Ian Michiels, Principal and Managing Director of
Gleanster Research: “The future of brand marketing is about building relationships
through relevant and timely communications delivered across the channels each
customer prefers. Companies need to start thinking in terms of the customer lifecycle
and relying more on the data and insights that inform and develop the applicable
lifecycle strategy.”
Moving The Needle On Social Commerce
Consolidation becomes more vital as changing customer behaviors alter retailers’
demands for channel technologies. For example, Facebook and other social
channels initially failed to develop as direct sources of revenue: only 24% of retailers
surveyed deploy social purchasing today. But by 2018, almost half (46%) plan to
leverage social as a way to facilitate direct purchasing.
Please indicate if you have deployed purchasing through
social channels or plan to by 2018.
24%
46%
30%
Planned by 2018
Not planned
Deployed
today
9. Survey Report: Breaking Through Customer Engagement Barriers 9
Real-time isn’t yet ready for prime time: Only 23% of
marketers reported using real-time data to generate
customer offers on a regular basis; 30% said they use
real-time data, but infrequently; and 36% would like to
leverage it. Another 11% said they are not able to use
up-to-the-moment data to generate customer offers.
Of the offers generated by the 53% of retailers who
utilize real-time data, most (38%) are triggered by
website purchases, followed by in-store visits (37%)
and in-store purchases (36%).
Are you able to use real-time data to generate
customer offers?
Yes, but
we do so
No
No, but we
would like to
36%
30%
11%
23%
Yes, and we do
so frequently
Which of these events trigger real-time offers
to your customers?
Website purchase
In-store visit
In-store purchase
Website visit
Email response activity/
Shopping cart abandonment
Customer location (geo-
Life event (birthday, move,
Not applicable
38%
37%
36%
35%
34%
30%
29%
24%
24%
10. Survey Report: Breaking Through Customer Engagement Barriers 10
To confirm these statistics, a 2013 IBM survey of more than 500 companies
worldwide segmented the top performers in terms of cross-channel integration
and the use of technology for customer outreach. Among this subset, 40% actively
provided real-time customer offers based on customer context — a “relatively
sophisticated process,” according to a June 2013 eMarketer article. Among the
remainder of companies surveyed, only 15% had generated real-time offers based
on context during 2013. The key to real-time marketing, eMarketer indicated, is to
“use data and analysis to deliver real-time messaging through automated technology,
which can rapidly respond to customer actions by pushing out ads, marketing
collateral and other content to the appropriate channels.”
In addition, “retailers can leverage apps that customize offers individually, in real time,
based on a customer engagement event and/or what retailers already know is in a
customer’s closet, locker, garage or pantry,” said Boston Retail Partner’s Morris. “As
more store offers become real-time, back-office processes will change considerably.
In fact, real-time retail has the broad potential to impact everything from the store to
workforce management, loss prevention, merchandising, the home office and more.”
The reality is that many retail marketers struggle with real-time offers because
available customer data is difficult to align and centralize. Extracting and leveraging
non-integrated customer data makes most marketing programs ineffective, as do
the fragmented legacy technologies often supporting the data. This especially is
true for retailers that engage multiple agencies, marketing service providers and
technology vendors.
However, the retail industry can now access next-generation customer lifecycle
engagement solutions capable of addressing the real-time marketing challenge.
More powerful digital technologies; faster transmission speeds; the ability to access
centralized, core systems of customer data; and more affordable
pricing have helped create this shift. In addition, the essential, always-
on smartphone — a prime avenue for delivering real-time offers — has
become a ubiquitous touch point.
Combined, these developments are moving real-time marketing to the
forefront of advanced customer engagement and relevancy marketing
techniques. The shift is great news for the 89% of surveyed retailers who
are or would like to leverage real-time marketing practices.
“Real-time retail
has the broad
potential to
impact everything
from the store
to workforce
management,
loss prevention,
merchandising,
the home office
and more.”
-Ken Morris
Boston Retail Partners
11. Survey Report: Breaking Through Customer Engagement Barriers 11
IV. Effective Use of Data: The Power
Behind Relevant Campaigns
Retail marketers strive to capture, analyze and utilize the right amount of customer
data in order to maximize the relevancy and impact of marketing offers and
campaigns. Today thousands of data points deliver information about customers’
personal interests, family make-up, products last purchased, age, residence,
at what hour they are most likely to open and click through an email, and much
more. Marrying all or parts of this data treasure trove with innovative marketing
technologies creates the power that pierces through customer engagement barriers.
As noted in the chart on page 4, almost half (47%) of surveyed executives ranked
utilizing existing customer data as their primary marketing challenge. Integrating
social/mobile data (18%) and new data (8%) as well as using analytics to explore
data (11%) also topped the list of greatest concerns. In total, leveraging customer
data was the greatest concern for 84% of surveyed retailers. Findings underscore
marketers’ ongoing struggle to combine multiple sources of data to deliver the
customer relevancy and personalization required for improving the experience for
customers across channels.
Do You Want Fries With That?
Some retailers do an excellent job of increasing basket size based on customer
profiles and previous behaviors. But for most retailers the act of capturing, cleaning,
processing and updating cross-channel data is difficult to manage.
But today, retailers that find the right partners can blend multi-source customer
data to target, personalize, cross-sell, up-sell — more thoroughly, quickly,
effectively and affordably than ever before. Retail marketing partners specializing
in customer intelligence are ready to share synchronized databases of extensive
customer information — available in real time. For example, mobile sales associates
equipped with a customer email address or portion of a mailing address can tap
into contextual customer data that many retailers never knew existed.
Consumers interacting with their smartphones, tablets, laptops and
desktops can access real-time marketing offers triggered by an in-store
visit, website purchase or other event.
Leveraging
customer
data was the
greatest concern
for 84%
of surveyed
retailers.
12. Survey Report: Breaking Through Customer Engagement Barriers 12
V. Different Types Of Data Impact
Promotional Strategies
The majority (58%) of surveyed retailers indicated that transactional and purchase
history data are the most valuable types of customer information. Only 5% said
social media data was the most valuable, and only 2% valued web browsing history
data above all other types.
What type of customer data do you think would be most valuable to you,
regardless of whether you currently collect it?
Ranked 1 on a scale of 1-5
Transactional/purchase history
Behavioral/attitudinal data
Demographic information
Campaign response history
Social media data
Web browsing history
58%
14%
14%
7%
5%
2%
Marketers may be wedded to transactional information because it is easily accessible
and offers explicit customer data, ideal for segmentation and offer optimization.
Social media and web browsing data is more difficult to embrace because it reflects
a shopper’s inferred intent only.
“Social data provides a valuable and unique opportunity for retailers to determine
what people are saying about their products and customer service as well as
determining where there is “buzz” that may be relevant,” reported Michael Penney,
Managing Director of Agency Services for Yes Lifecycle Marketing. “But the value
of that data is limited because its impact is not as actionable and measurable to
retailers.”
13. Survey Report: Breaking Through Customer Engagement Barriers 13
However, “just because you know what your customer purchased doesn’t mean you
know your customer,” stated Michiels. “Marketers need to layer on third-party data,
as well as online and offline data, to really engage customers on an intimate level.
Unfortunately, that is not happening very well today, even at the largest and most
innovative B2C organizations.”
Most consumer-facing companies have an undeveloped understanding of their
customers beyond basic demographics and purchase history, Michiels said. In fact,
“many executive level marketers think they know their customers well, and consider
their customer engagement strategies — including optimal messaging, channels and
timing — to be effective. In reality, they lack the deep data insights that would enable
them to send personalized, targeted campaigns based on relationship-oriented
customer data. This suggests that most retailers are limited by what they perceive to
be successful albeit legacy marketing tactics.”
“Just because
you know what
your customer
purchased
doesn’t mean
you know your
customer.
Marketers need
to layer on third-
party data, as
well as online
and offline data,
to really engage
customers on an
intimate level.”
-Ian Michiels
Gleanster Research
14. Survey Report: Breaking Through Customer Engagement Barriers 14
VI. Mobile POS: The Near Frontier
The majority (51%) of retailers acknowledge that mobile POS (mPOS) is a must-have
by 2018.
However, almost one quarter (23%) have no plans for this strategy, possibly waiting
to determine which companies/facilitators and technologies will rise to the top.
In the meantime, Best Buy Canada, Home Depot, Nordstrom, Perry Ellis and Urban
Outfitter are just some of the retailers currently embracing mPOS.
Perry Ellis pursued mPOS primarily for clienteling, said Luis Paez, CIO of Perry Ellis
International, in an article published by Retail TouchPoints. “Being able to approach
and work with the customer more effectively was very important. Employees and
store managers now are equipped with the tools to build that relationship with
shoppers and create more interactive experiences.”
At Best Buy Canada, mPOS “is just one part of our multichannel offering that
allows for a flawless experience, in-store and online,” said Robert Pearson, VP of
E-Commerce for Best Buy Canada, in another Retail TouchPoints article. “Our focus
is on creating a seamless shopping experience for our customers and we have
invested in building out both our multichannel and fulfillment capabilities to support
this vision.”
Please indicate if you have deployed Mobile POS or plan to by 2018.
26%
51%
23%
Planned by 2018
Not
planned
Deployed
today
15. Survey Report: Breaking Through Customer Engagement Barriers 15
VII. Advancing The Overall Benefits Of
Mobile Technology
There’s no question that as mobile technology continues to improve, retailers will
have an increasingly powerful and flexible vehicle for capturing customer data and
triggering increased sales. Mobile tools facilitate more intimate discussions with
customers and therefore better relationships. Equipped with mobile devices, sales
associates can glean valuable information as they help customers browse and buy
— then use that knowledge to generate synchronized, cross-channel customer data
for new and developing sales strategies.
Based on the breadth of customer data collected, with mobile technology in-
hand, associates can improve the brand’s value proposition. For example, they
can provide more relevant offers or adjust offers in real time — change a $5-
off proposal to $50 off — to capture a sale. Developing a more personalized
approach, store associates could snap a photo of a customer; determine the size
and color of jeans previously bought in-store or online; produce an image of the
customer wearing a matching top or jacket; then click to order it in the size, color
and delivery method the buyer prefers.
This “guided selling” technique is the future of retailing, said Ken Morris, Principal
of Boston Retail Partners. The next step in mobile “will create a true customer-
centric omnichannel shopping experience where a sales associate can be
empowered to interact with customers in new and innovative ways. Retail is
never going to be the same.”
16. Survey Report: Breaking Through Customer Engagement Barriers 16
VIII. In-Store Wi-Fi Trends
Surprisingly, almost 40% of retailers had no plans to deploy free in-store Wi-Fi,
despite the rise in mobile.
Wi-Fi deployment trends could depend on how a retailer perceives the customer
experience: For smaller retailers that can deliver effective engagement strategies over
cellular networks, investments in in-store Wi-Fi may not be imperative.
But for retailers intent on delivering sophisticated customer experience apps that
necessitate extensive bandwidth, free in-store Wi-Fi is highly valued. Personalized
offers made by sales associates equipped with mPOS, delivered directly to
shoppers’ mobile devices, or available from tablets affixed to store shelves, for
example — all streamlined by access to centralized customer data — require robust
Wi-Fi implementations.
“Retailers want technologies that give their customers a reason to come to
their stores,” said Penney “and for many consumers, in-store Wi-Fi will enable
those reasons.”
Going forward, Penney sees retailers taking one of two approaches: “Some
marketers will advance the quality of customer engagement execution by developing
sophisticated personalization strategies that demand the capacity of in-store Wi-Fi.
Other marketers either won’t require the bandwidth provided by Wi-Fi — or believe
that in a few years, communications carriers will provide adequate bandwidth to
power sophisticated apps to mobile devices.”
Please indicate if you have deployed free in-store Wi-Fi or plan to by 2018.
32% 29%
39%
Planned
by 2018
Not planned
Deployed
today
17. Survey Report: Breaking Through Customer Engagement Barriers 17
IX. Embracing The Future With New
Technology Investments
Retailers are lagging in their adoption of technology: less than one third of retailers
have implemented tools such as free in-store Wi-Fi (32%), mPOS (26%) and
purchasing through social channels (24%).
Only easy-to-implement QR codes are close to being widely adopted, with 45% of
On a macro level, the recent recession challenged most retailers in terms of
technology investments. In addition, many solutions require adjunct expenses,
such as upgrades to legacy hardware, further slowing technology adoption. Some
retailers still are focused on the most fundamental applications, such as capturing
contact information. Others concentrate on investments that lower the cost of doing
business or mirror competitors’ next operational moves, rather than on technologies
that can enhance the customer experience.
Please indicate if you have deployed the following technologies or plan to by 2018.
In-app
purchasing
Geo-targeting/
localization
Shoppable
videos
QR codes RFID tags
29%
45%
26%
30%
46%
24%
21%
40% 39%
45%
33%
22%
18%
33%
49%
Deployed today
Planned by 2018
Not planned
18. Survey Report: Breaking Through Customer Engagement Barriers 18
As noted, providing the best customer experience was the No. 1 factor for most
(65%) of retailers seeking approval for sales and marketing investments. “The lion’s
share of technology investment, therefore, should be going to solutions that enrich
the customer experience and break through engagement barriers,” said Penney.
“The most compelling, integrated personalization marketing campaigns rely on a
cohesive repository of customer knowledge. Brands that don’t invest in providing the
relevancy will falter as consumers seek competitive brands that do.”
Conclusion
The battle for market share now rests on building and leveraging intimate
customer relationships.
“Winners are embracing cross-channel marketing techniques that create and
communicate true customer relevancy, trigger engagement and lift sales, said
Penney. “The gap between retailers utilizing these techniques and those that don’t is
growing wider.”
Penney continued: “Catching up will require significant realignment and investment
in technologies that deliver relevant data-driven customer marketing. Meanwhile,
retailers already focused on leveraging customer data to provide relevancy are
developing distinct advantages in the marketplace.”
With advanced business intelligence (BI) tools in hand, retailers will be able to
collect actionable data that identifies the right customers at the right time in order
to implement more effective marketing strategies. The best BI solution partner will
deliver a custom mix of products and services tailored specifically to your business
and customer.
“The gap between
retailers utilizing
these techniques
and those that
don’t is growing
wider.”
- Michael Penney
19. Survey Report: Breaking Through Customer Engagement Barriers 19
Respondent Demographics
Of the 100 retail executive respondents, most (30%) represented specialty hard
goods, big box (20%), grocery (12%) and specialty soft goods (12%). The remainder
represented electronics, pharmacy/convenience and office supplies.
Please describe your retail vertical.
Specialty hard goods
30%
Specialty soft goods
12%
Big Box
20%
Pharmacy/convenience store
8%
Grocery
16%
Electronics
9%
Office supplies
5%
20. Survey Report: Breaking Through Customer Engagement Barriers 20
About Yes Lifecycle Marketing
Yes Lifecycle Marketing is a solution provider that brings together
multichannel marketing platforms and data, with creative and strategy
services honed on the optimization of delivering relevant marketing
messages. This gives marketers the ability to source best-of-breed
technology and creative and strategy services from a single vendor at a
cost-effective price point. For more information, visit:
www.yeslifecyclemarketing.com
About Retail TouchPoints
Retail TouchPoints is an online publishing network for retail executives,
with content focused on optimizing the customer experience across
all channels. The Retail TouchPoints network is comprised of a weekly
newsletter, special reports, web seminars, exclusive benchmark
research, an insightful editorial blog, and a content-rich website
featuring daily news updates and multi-media interviews at
www.retailtouchpoints.com. The Retail TouchPoints team also
interacts with social media communities via Facebook, Twitter
and LinkedIn.
200 W Adams, Suite 1400
Chicago, IL 60606
P: 877.937.6245
sales@yeslifecyclemarketing.com
411 State Route 17 South
Suite 410
Hasbrouck Heights, NJ 07604
P: 201.257.8528
F: 201.426.0181
info@retailtouchpoints.com