Friday, October 27, 2017

Why Retail Marketers Need To Innovate

This just in... Amazon is impacting every retailer around the world. Ok I realize this is not breaking news. Nor should it be breaking news that retailers and more specifically retail marketers, need to innovate. However I'm not talking about the kind of innovation you may be thinking of. 

The truth is retail marketers need to embrace innovation to remain relevant in today’s market environment. This means that marketing organizations need to break down departmental silos and organize around the customer experience. Collaboration is the most effective way to spur and propel innovation. 

The best method to make this happen is to embrace a faster paced, agile marketing program production process. The redesigned process should focus on efficiency so that you can bring new capabilities to market quickly.

Methodically planning, building and connecting your marketing technology with your value chains allows you to build an agile organization that can proactively create and tweak a trendy, on-point experience for your customers.

Why So Important?

Good question. Glad you asked. 

Today’s retail customers have high expectations for a consistent, meaningful, personalized experience. Truly knowing your customers - their preferences, buying patterns, purchase history, key demographics, etc. - is at the core of providing a meaningful customer experience.

It is no longer sufficient to group customers by general demographics and best guesses as to their behavioral patterns. Customers expect that they have a 1-1 relationship with a company and they want to be treated as an individual, not an anonymous member of a similar group. 

However, in most companies, the technologies, data systems, and people who are responsible for delivering that experience are not integrated, resulting in a disjointed, lackluster customer experience. 

Marketers need technology solutions that will unify data and integrate across other CX applications, allowing them to finally deliver on the promise of a consistent and personalized customer experience.

Want to see how one Fortune 100 brand saw a 20:1 return with a better customer experience and personalization? Of course you do. 

Click here to learn all about it. 

Image source: Pexels

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