“I will give you $1; I want $4 back.”
This goal is expressed by everyone in the retail industry.
Modern-day retailers have eyes only for result-driven marketing capable of earning them a clear return on marketing investment (ROMI) in dollar figures, rather than the scope of potential, charts, and CTRs.
With this shift in retailers’ mindsets, it has become extremely crucial for marketers and technology providers to switch their focus as well. In today’s fast-paced world, the winning ground belongs to those who have a technologically advanced platform that offers both easy customization and instant access to retail data.
To make things clearer: success in the new age of retail marketing belongs to those who can master and consistently showcase the following six strategies.
1. Use an End-to-end, Automated Data-Driven Omnichannel Platform
To win retail marketing jobs, it is essential to boast an end-to-end platform that can automate the entire process from campaign initiation all the way to results in clear dollar figures for retailers. They should know how to use the platform to combine digital, hard copy and social media applications to improve the customer experience.
Automation is the key here; quick time to market is do-or-die. Providers must either have an advanced platform or form partnerships with industry leaders who can offer end-to-end communication solutions to deliver automated individualized creative content. An automated platform will offer rapid time to market and easy proof of concept and testing at a reasonable cost. Such a platform is ideal not just for personalized videos and template-based content, but also works wonders for omnichannel touchpoints, including email, text, print, and social media.
That being said, one must not forget or ignore existing solutions and previously developed programs. It’s crucial to analyze and review what has already been done by a client and assess past performance before recommending new programs. The legacy application is one thing that marketers should never make the mistake of ignoring. They should at least be able to port existing asset to a fully automated platform.
2. Communicate with Authentic, Relevant, and Personalized Messages and Images
Genuine, personalized messages not only speak to your clients’ target audience but also give the impression that their needs and requirements are understood and appreciated.
In the modern world, marketers should have sufficient knowledge of Variable Information Digital and Print solutions and provide clients with assistance in the design, construction, and production of fully personalized digital or printed communications. They should also offer real-time content testing at affordable rates, and clients should be willing to experiment and explore until they find the right format, message, and offer.
Marketers should be ready to design, try, implement, evaluate, and modify their campaigns until the desired outcome is achieved; campaigns need to be improved continuously. If the marketers fail to choose the ideal platform, it becomes difficult for them to fully automate this process and offer the right costs to ‘pay back $4’. The best way to go about this is by finding a readily available tool that can simulate under one platform.
3. Integrate with a POS System for Easy and Quick Access to Retail Data
If you want to provide 360-degree marketing programs, you need to step up your data acquisition, management, integration, and presentation game as part of your strategy.
The retail industry often undermines or even ignores the fact that marketers want concrete proof of what they are going to get in return for their marketing expenses. To prove a real ROMI in the new age of retail marketing, it’s imperative for marketers to have real-time access to POS data – both inbound and outbound retail data. And this can be achieved by partnering with POS providers in the retail industry or tightly integrating with existing data partners.
Every business, but particularly retail stores in certain industries such as health and beauty, needs to make real-time decisions about products, customers, and how best to incentivize their employees to achieve the desired return. Marketers must access, use, and present data in a form that is helpful for retailers and that enables them to make real-time situational decisions and show results. Consider sending data out to prospects and getting campaign data back into POS after the prospects react to your offers.
4. Produce Real-time Results
Modern-day marketers should consider shifting their focus and straight up show retailers how much money they are making based on specific, engaging marketing programs.
This can be achieved by implementing end-to-end automation, which in turn will yield a lower cost to pave the way for high returns. If the solution is too expensive, it will automatically exclude small retailers, leaving money on the table.
However, if the solution is cost conscientious, it allows marketers to target small to medium size retailers who are willing to pay the right amount for the right return – and continue it over and over! Demonstrating the results right away is the key to engaging those retailers and retaining them as well for years to come.
5. Solve Challenges by Integrating Your Solution with Additional Systems
Your platform must be adaptable enough to create solutions that solve industry challenges. Both your platform and your team should possess customization capabilities – and you must deliver these services at the right cost within an appropriate timeline.
Development is for another age. In today’s market integration is the key. If you observe and explore optimally, you’ll see that what you need has already been developed. What’s missing is how you combine the available technology to curate a solution, or even better how you customize your existing platform without developing new technologies.
6. Customers Turned Partners
The retail marketing industry is dynamic – and marketers should hammer this point home. When playing in a specific vertical, they should strive to understand the ins and outs of marketing in that vertical instead of trying to be a general marketing guru. Believe us when we say that this simple act goes a long way.
Your potential customers will see you as a domain expert. Invest your time and energy in understanding the challenges your target customers face. Be a game changer who shares customers’ challenges, and you’ll be able to earn the position of a partner instead of merely being an order taker for them.
Show them that you care about their business and have in-depth knowledge of the specific vertical they’re operating in and that you can offer them an ideal solution.
Want to learn more about creating and implementing strategic solutions in the new age of retail marketing? JR GROUP USA is an XMPie service provider and reseller offering the complete XMPie product line in the Americas and also provides Professional Integration Services.