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For all the buzz about creating superior customer experiences, marketers still seem to be falling flat heading into the all-important holiday shopping season. A recent study of global shoppers found that when it comes to brand experience indicators, retailers scored a meager 33 points out of 100, lacking in three key aspects of consumer engagement: in-store integration, mobi ...
Recently, I spoke with a CMO in the retail sector who told me that about 50 percent of his customers buy once and then never buy again. And he knows that slicing that attrition rate by just one or two percentage points would drive millions of dollars to the bottom line. This is a common challenge, not just for retailers, but for many brands.
Customer data. It’s a brand’s special sauce. But right now, there are too many chefs in the kitchen. Marketers are working with multiple technology solutions and partners. Their customer data is strewn among dozens of different platforms, channels, applications and silos. Sure, the capabilities for each may be powerful in their own right.
Do your marketing programs encourage customers to regularly log in to the brand website or app? Or make use of CRM (customer relationship management) or loyalty membership data to capture known-customer behavior offline? Are you collecting behavioral data across web, mobile app and physical-world touch points? If so, then you have a powerful foundation for fueling genuine 1:1 engagements at t.
This year, at least 30 percent of CEOs will fire their CMOs for not having the right skill set to successfully lead digital transformation. Now, that’s harsh. But let’s face it, digital has rocked our world. Technology has not only changed the buying power of consumers; it’s changed what they want, think and expect.
2016 was a whirlwind year for marketers. The battle for consumer share-of-wallet intensified as Amazon continued to capture spend, reporting a record-setting Prime Day and its most successful holiday season to date. Innovations like artificial intelligence and virtual reality made their way from science fiction into the real world, opening new doors for customer engagement.
Among consistently hot marketing subjects like mobile and social, or buzzed-about trends like artificial intelligence and marketing automation, identity is emerging as a key marketing topic. Recognizing customers across devices and stitching that information together into a single view has never been more relevant.
The Rio Olympics broke records, but not just for athletic performance or medal counts. The 17-day event was trumpeted as the most ambitious media event in history, delivering an average total prime time audience of nearly 28 million viewers, one of the largest Olympic audiences in history. Viewers around the world were able to watch the amazing athletic feats of Simone Bile ...
Digital marketing is on the precipice of major change, driven by new technologies and the multi-screening, highly connected consumer. Consider the following recent research that demonstrate the pain points in the industry: While these statistics are concerning, for pioneering CMOs, they highlight the opportunities for improvement and forward momentum.
It’s that time again. Time for retailers to rally their troops for the end-of-year holiday shopping season, getting strategies and technologies locked in for the critical period that will drive nearly 20 percent of annual retail industry sales. What should retailers plan in 2016? Forecasts so far offer some not-so-great news and some good news.
I don’t know a marketer today who doesn’t marvel at the pace the industry is moving. But ask any CMO what his or her priorities are, and chances are good that a key focus today was also on the priority list five, 10, even 20 years ago — and will continue to remain so for years into the future. What marketing goal could possibly stand this test of time? The answer: connecting with customers.
Brands continue to invest more in digital advertising: This year, spending on digital display ads in the US is anticipated to hit $32.17 billion, eclipsing search ad spending for the first time. However, a rise in spending doesn’t necessarily translate into better customer relationships or more ROI (return on investment).
Brands have long relied on loyalty programs to build customer devotion. Rewards programs designed to motivate shoppers to purchase more frequently have grown in membership year after year: a Colloquy survey found that US loyalty programs reached 3.3 billion members in 2014 — a 26-percent increase over just two years — and the average household belongs to 29 loyalty programs.
“It was the best of times, it was the worst of times.” While this quote was made famous in the 19th century, perhaps no truer words can be spoken about the state of digital marketing today. On one hand, marketing spend continues to increase. According to recent research from eMarketer, nearly a third of CEOs in the US say they plan to increase spending on advertising over t ...
Facebook first introduced the concept of “people-based marketing” in 2014, and in less than two years, it’s gone from buzzword to business- driver. In the last quarter of 2015, Facebook reported $5.64 billion in advertising revenue — driven in large part by the growing popularity of its Custom Audiences offering that helps marketers target ads at real people, rather than cookies or devices.
The beginning of a new year brings resolutions, new beginnings, and for many marketers, a fresh look at their strategies to reach and engage customers. Technology continues to advance, creating a marketing atmosphere where the only constant is change. It’s more challenging than ever to determine which digital trends will be the next big thing and which will be a flash in the pan.
Today’s digital technologies have the ability to connect people and brands in the most advanced, relevant ways ever seen. The promise of digital devices — and all the information that comes along with them — has made it possible for marketers and advertisers to connect with their customers with just the right information at just the right time.
Back in 2008, potential investors thought the idea of renting airbeds and rooms to strangers was a crazy idea. But today, Airbnb is upending the hospitality industry, serving an average of 425,00 guests per night — more than many global hotel brands — with expectations of generating $900 million in revenue this year.
Much has been made about Google’s custom audiences solution, which was announced recently at Advertising Week. With this new solution, advertisers can upload their email lists to Google to target customers and lookalike prospects with ads across the company’s properties. Reaction from the industry has ranged from believing this is Google’s late, me-too attempt to compete wit ...
My last column dissected the difference between first-, second- and third-party data and why first-party data in particular is critical to people-based marketing. But true people-based marketing does not mean reaching known customers with generic content. To do people-based marketing right, companies must reach those customers at the right time, with messaging that’s relevan ...