Retail and ecommerce companies are at a crossroads. Many physical retailers are realizing the limitations of their grown as locations around the country shutter their doors. Companies that once saw omnichannel retailing as a “nice to have” marketing strategy now realize its critical importance to survival.
Challenges to overcome in moving to an interactive marketing model
There are several key movements in the marketing technology are that are driving solutions today. One is the proliferation of web-based marketing tools. Many vendors have developed or are developing tools in the personalization, ad management, web measurement, e-marketing, and campaign management areas. These tools have significant overlap, often solve a tactical short-term problem, and don’t provide support for the entire marketing process – thereby falling short of improving the bottom line. This generates significant confusion in the industry and leads organizations down a solution path that might lock out future business alternatives.
This three-part series explores various attempts to exploit interactive marketing techniques, defines interactive marketing, and investigates how this new marketing technique recognizes the customer’s role in the customer-company relationship. Part 1 can be found here.
This three-part series explores various attempts to exploit interactive marketing techniques, defines interactive marketing, and investigates how this new marketing technique recognizes the customer’s role in the customer-company relationship. The article explores the risks and challenges in shifting the organization, process, and technologies to support interactive marketing, yet outlines several strategies for achieving this transformation and the resulting benefits.
When I meet with a client, one of the first questions I ask is, “Is your current focus on online data, offline data, or both?” Understanding how a company looks at online data (or offline data) is helpful in determining not only their core competencies but where the opportunity is to help them fill any “gaps” to ensure that the organization is able to meet its goals.
Don’t come to me with vanity metrics. I won’t listen to you. Whether you’re on my team and giving me a program update or a vendor trying to sell me something, I won’t be impressed by inflated metrics or data that doesn’t tell a story. And most CEO’s won’t settle for it, either.
Amazon’s Echo and its competitors were at the top of shopping lists this holiday season. And now, social media is buzzing with videos of mishaps and rants from frustrated parents whose kids are ordering expensive toys by voice demand. But if you get past the giant teddy bears in your living room, Echo and other IoT devices carry an important reminder for marketers: know your customer.
We’re finally far enough away from the holiday season to take a good look back at what worked and to catch a glimpse of where we’ll go from here. And now we’re seeing retailers making big shifts for the new year, further illustrating the importance of going back to basics.
With brands competing for a slice of the marketplace amidst direct competitors, new channels, and instant gratification, customer feedback can mean the difference between success and failure. And while there’s no arguing that data holds the keys to marketing strategy, the magic really lies in the quality of that information and our ability to interpret it into actionable insights.