Multichannel Retailers
Marketing strategies that align with customer behavior and economic realities include optimizing the media mix, leveraging social commerce, building customer loyalty and improving the shopping experience across platforms and in-store. In essence, it requires a renewed focus on the customer and adapting to changes in their behavior due to technology and the economy.
Customer Acquisition
Given the high cost of customer acquisition, optimizing the media mix is critical. This requires segmented target markets, combined with message and creative alignment. To know what’s working, you’ll need sophisticated multichannel attribution.
Have you aligned segmented target markets with your marketing channels?
Conversion
Once you’ve gained purchase consideration, you’ll need to ensure you are meeting customer needs. Almost 25% of customers research products online before buying in-store (1), so it’s critical that you have optimized your website to make it easy for customers to find what they’re looking for.
Are you engaged in strategic conversion optimization and development of agentic shopping tools?
Omnichannel
Customer Experience
Shoppers expect a clean connection between your website, your app and your physical store location. It’s not enough just to have these capabilities. It’s critical to create an optimal customer experience with precise execution such as a specified pick-up window or in-store appointments that help customers with purchases. Deloitte reports that omnichannel customers spend 1.5 times more than single channel shoppers, so there’s incentive to get this right.
Do you have a fully integrated customer experience?
Hyper-personalize
with AI
Retailers that connect with customers on an emotional level will build the strongest loyalty. Success will come to those who hyper-personalize with AI, to show they know their customer better. In addition, it’s critical to help shoppers with seamless shopping, while creating engaging experiences with products, staff and your store experience.
Are you connecting deeply with your customers?
Have you optimized the customer’s purchase journey from creating awareness to loyalty no matter where you encounter the customer, whether online, in-store or in-app?
1. eMarketer, Nearly a quarter of consumer research products online before buying it in-store, Meaghan Yuen, 5.24.24