Sales Strategy
Three Key Strategies to Elevate Retail Marketing Success May 04, 2023 (0 comments)
New York, NY--COVID-related brick-and-mortar closures led to an influx of online customers, driving marketers to shift focus from acquisition to customer relationship management.
[Image via Creative Commons]
Understanding customers better was a top priority for nearly half of the 500 retail marketers surveyed in Emarsys' unPredictions report.
The Future Of Commerce said that these three retail marketing strategies can foster customer engagement and drive business results:
1. Deliver Personalized Content at Scale
Retail marketers must create personalized content beyond using first names in subject lines. Leveraging the wealth of first-party data collected during the pandemic, marketers can utilize retail marketing platforms to gain a holistic view of their customers, transform data into insights, and deliver meaningful, personalized content. This approach increases customer lifetime value by making customers feel appreciated and understood.
2. Harness the Power of Segmentation
The article noted that with 93% of consumers receiving irrelevant marketing messages, segmentation is crucial for effective retail marketing. By using retail marketing automation platforms, marketers can create AI-powered segments based on customer behaviors and lifecycle stages, such as browsing behavior, purchase likelihood, churn risk, loyalty status, average order value, and customer lifetime value.
Dynamic segments enable creating and automating customer lifecycle campaigns with relevant, personalized content, driving engagement and repeat sales.
3. Create a Compelling, Engaging Customer Experience
The report added that quality customer experiences are critical in retail marketing, as 92% of customers abandon a brand after two or three negative experiences.
Retail marketers must identify what constitutes a positive experience for each customer and design tailored journeys that demonstrate their value. Analytics can reveal customer preferences and inform meaningful, personalized experiences, increasing customer retention and outperforming competitors.
Omnichannel marketing is essential for delivering a consistent customer journey across channels. A Forrester survey found that customer-obsessed brands with an omnichannel strategy reported higher profits, improved loyalty and retention, and increased individual customer engagement.
Omnichannel marketing leverages data-driven, AI-based analysis of customer behavior, preferred channels, and lifecycle stages to send tailored messages through the right channels, enhancing personalized customer experiences and driving business outcomes.
Learn the entire report published by The Future Of Commerce here.