According to this article posted on CMO.com, there are four ways big brands can innovate and compete like mobile startups. Those four are: Leverage innovation in your existing products and services Prepare your enterprise to take action Secure C-level sponsorship and funding Connect everything to the customer relationship We will just talk about the fourth one, because that’s most important to us. The author of this article goes deeper into each...
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Millenials represent a huge audience that is getting bigger and bigger in terms of their retail spending impact. Accenture, in a recent report, estimates millenials represent $600 billion of retail spend, and they expect that amount to grow considerably over the next 5 to 10 years, ultimately reaching $1.4 trillion in spend. Millenials are the first digital generation, but that doesn't mean they are online only...
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The author of this article by Momentology wrote, “70% of consumers want more personalized shopping experiences,” and they “are willing to divulge a little data if it means making their lives easier.” With this information in hand, we recommend marketers ask themselves one question: How can we deliver a personalized shopping experience at scale? Fortunately, this article by the Harvard Business Review offers a solution: “[The] best...
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Tesco, the large British retailer, recently announced one of the largest losses in British corporate history recently. Much of the loss was attributable to property write downs as a result of a recognition of changing consumer shopping habits the retailer had failed to adapt to in recent years. The company has new leadership which is orchestrating a turnaround. Donal MacDaid, in Talking Retail, summarized the key...
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Managing your consumer experience journey must be one of, if not the core tenet of your strategy as a retail marketer. It is no longer acceptable to to be reactive to the journey your customer takes to learn about, and hopefully buy, your product. As a retail marketer, you must be proactive about shaping the consumers’ path to purchase. How do you shape a consumers’ path...
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We all know the forces of the past decade - search, social, mobile, Amazon - are changing every industry. But consumer-facing commerce has been at the tip of the spear, as empowered consumers are now in the driver's seat and forcing brands and service providers to change quickly and dramatically to keep up. Forrester research calls this era the "Age of the Customer", and encourages...
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