Most professionals can recollect an event or conference where a keynote speaker presented some new and dynamic industry challenge, alongside the buzzword that defines it. Oft-overused terms, they are frequently misused, misinterpreted or misunderstood. For retailers, one of those such words is ‘omnichannel’.
In late April, Google announced some big changes rolling out across the AdWords platform, changes that will have an effect on paid search campaigns. As Google continues to dominate the paid search market, accounting for 84% of the world’s paid search market share, understanding the best search marketing strategies to apply is imperative to a successful paid search campaign within the current digital landscape.
A recent study, ‘The New Digital Divide’, published by Deloitte Digital expressed the omnipotence of digital and mobile in the current retail landscape. Retailers are mindful that digital and mobile influence is largely impacting the current consumer path to purchase, however, it is undeniable that most retailers have not been able to effectively integrate this into actionable initiatives.
“Retailers understand that it costs more to acquire new customers than it does to keep their existing ones happy.” [Epsilon, 2014].
What types of coupons do your customers use? How many coupons in an average week? When are they searching for offers, on their mobile devices while shopping, or beforehand on their home computers? These are some examples of the valuable coupon data CPGs and retailers can collect through RevTrax’s latest product, Survey Insights.
Last week RevTrax invited our key CPG and Retail clients, partners and industry colleagues to participate in a panel discussion to exchange best practices on leveraging customer data analytics and customer intelligence. Our panelists included representatives from Kimberly-Clark Corporation, Pfizer Consumer Healthcare, Bowlmor-AMF and Chobani.
Andy Murray, SVP/Creative at Wal-Mart and P2PI Hall of Fame honoree, said it best in his opening address, “If you don’t like change, you are going to like irrelevance even less.”
Here at RevTrax, we continually think about the omnichannel consumer experience and how to improve it. In order to help us on this path, we recently attended Forrester’s “The New Omnichannel Imperative” event here in New York City lead by Forrester Analyst, Peter Sheldon. Sheldon’s research focused on identifying the causes and solutions for the widening gap between consumer expectations and retail capabilities.
Did you know that brand advocates are more influential than the average consumer? In fact, brand advocates are 50% more likely to influence a purchase. These advocates are your passionate customers who embody your brand and actively spread your brand’s news and message. They are also key drivers in amplifying your digital marketing campaigns through their social networks.