Kneebone Marketing Performance for Retailers
Consumers are changing their behaviors and expectations. For example, if I am in the market for a new purchase, I may ask my friends on facebook or twitter? Conversely, if I have an opinion about a product or service and my voice can be heard through social communities – This creates a new influence on purchase decisions. If I have a complaint I may tweet about it and EXPECT my retailer is listening.
Mobile applications are driving consumer transactions and mass amounts of information - known as Big Data. There were 1 Billion Mobile App downloads over the holiday season (source: Engaget). Consumers have 24/7 access to information from anywhere. Consumers can walk into traditional retailers with a smart phone and access pricing or product information from many sources including other retailers – This creates an in-store competitive environment.
Cloud computing is enabling viral growth in customers/users for both transactions and mobile application deployment. A small business can launch an application today and support 10’s of thousands of customers tomorrow by leveraging cloud services.
Forbes recently put out an article on why Best Buy is gradually going out of business. One quote, "retailers complain that Amazon [ecommerce] can undercut them in prices because the site doesn’t charge sales tax, and that Amazon customers use Best Buy as their showroom". Source: Forbes. This demonstrates a clear change in customer behavior forcing marketers to try new tactics.
As we come out of a global recession with economic uncertainty there is a general sense of cost containment or reduction within Retail and other sectors.
In September US Retail saw a 1.1% month over month growth and 7.9% year over year growth with non-Store retailers seeing a 10% year over year growth. Traditional Bricks and Mortar are seeing slower growth. Source: US Census. This Bloomberg article states that retail sales for Decemeber rose 5.3% year over year.
There is growth in the areas of e-coupon, mobile advertising, and social media. Now marketers are trying new things.
New trends bring new opportunities that surface new questions that require answers.
Some questions you may have are:
-
How will this affect the marketing budget or spend allocation?
-
What is the integrated performance effect of digital with traditional marketing?
-
How can I run more test and learn scenarios to understand what works and what does not?
To learn more about Kneebone and see a demonstration, CLICK HERE to view our retail marketing performance webinar.
Find out what your Marketing Performance ROI could be - CLICK HERE
Kneebone Inc. | 322 King St. West, Suite 400 | Toronto | Ontario | M5V 1J2 | Canada | 1.866.326.5595
Contact Us