Whether we are talking about store associates wielding mobile POS devices or consumers sporting their mobile phones, mobile digital transactions are on the rise and gaining in importance.
The latest studies* show that online purchasing has now become the preference, just beating out other forms of purchasing (e.g. store, catalog) by 51 percent to 49 percent. And 77 percent of mobile phone users have used their devices during the shopping process, with over 40 percent having completed a mobile purchase. This number rises to over 60 percent for Millennials. Clearly online and in particular, mobile online shopping, is redefining the shopping experience for a large portion of the population.
Technology is making consumers’ lives easier, sure, but retailers have to continually play catch-up to match their own technology with consumer expectations. Some retailers are doing it well; others, not so much. Legacy systems have been in place for decades in some instances, and while they may have worked in the past, those systems can’t keep up with the demands for today.
As Dunkin Brand’s president of global marketing and innovation has quite bluntly stated, “If you’re doing business today like you did last week, the competition is gaining on you, and if you’re doing business like you did last year, you may soon be out of business.”
Ouch. But, it’s the truth. That’s why Melanie Clark, our Retail Partner Manager, and I have come together to discuss how today’s leading retailers are simplifying the purchase process, making mobile shopping frictionless, and why ‘showrooming’ and the ‘endless aisle’ should all become the new standards of retail.
Email marketing remains one of the most successful and cost-effective marketing channels. Some say it’s second only to search, and we agree. The cost of sending an email is measured in tiny fractions of a penny while the average return is between $0.06 and $0.07*. The common wisdom is that every $1 spent on email returns $40 in revenue. That’s a 4000% ROI!
Yet there’s a lot that can be done to improve results. Clearly open and click through rates depend a lot on subject lines and offers, but maximizing your return also means maximizing deliverability. Here are 10 tried-and-true steps for optimizing your retail email marketing efforts and achieving the greatest return.
In today’s increasingly digital marketplace, retailers find themselves at a crossroads. Their customers are seeking products and information online, and they’re entering retail stores more knowledgeable than ever before. In order to stay a step ahead of savvy customers, retailers are turning to high-tech marketing practices to give themselves an edge. A common way to do this is to use customer contact information to market products and increase customer engagement.
I think it’s safe to say that there are at least two thousand fifty-four point seven initiatives that retailers are planning and budgeting for. But there are a few that stand out: 1) Micro-moments, aka what everyone knew about already but Google coined into one phrase, 2) Mobile payments, or trying to reduce that forsaken cart abandonment rate, and 3) a 360° customer view, or making sure Jon, John, and Juan are just one Jon who’s interested in your suits.
Ray Wright, our Director of Demand Generation, and I teamed up to discuss what we thought should be the top priorities for retailers in the near future through the lens of those three focuses listed above. And of course, we brought it back to data quality because that’s what we do best.
If you’ve ever wandered around our blog and landed yourself onto my blog bio, you’ll know that I am a marketer. My handle on industry insight is pretty good (if I do say so myself), but it’s not the same as getting out there and getting feedback from customers themselves—that’s where our sales reps enter the scene.
I chatted with three of our most senior retail sales reps—with Ecommerce platform, software integration, and enterprise-level retailer experience—and recorded their insights to share with you. In this blog post, you’ll learn:
What is the mobile phenomenon in retail?
What we’ve found over the course of the last three to four years is that more purchases have come over mobile than ever before. At least 45 percent of the time, shoppers are using their mobile devices to make educated decisions, do research, and purchase items quickly and easily. And they want to do it on their terms.
The vast majority of people are shopping on mobile devices now, and between iPads, iPhones, and Androids, people are so accustomed to using their phone that it’s not just a piece of equipment, it’s an extension of themselves. You have, for the first time ever, a generation where the use of technology as an integral part of everyday life is the norm. In fact, 80 percent of all babies today will be born to millennial mothers.
What was GSI Commerce? GSI Commerce was the Ecommerce and payments platform acquired by eBay Enterprise a number of years ago. The great thing about GSI for its customers is that it had feature functions inherently built into the platform. So their retailer customers didn’t need to think about their add-ons, because GSI did a good job of handling it for them. Some examples of their add-ons were address validation, tax calculations, etc.
That’s right, retail marketers. I’m calling you out. You all say you care about better customer data; you say you want to really understand your customer base; you may even give both pinky toes to get to the unicorn that is the single customer view. But here’s the thing: I don’t see people stepping up to actually invest in the things that make those wishes a reality.
A bright, but brisk, Boston morning saw me at the Hyatt Regency for MediaPost’s Online Media Marketing and Advertising (OMMA) event where the day was chock-filled with all kinds of subject matter marketers would geek out about. Right off the bat, I could tell that there were five clear themes for today:
And if you’re thinking that there’s no way I can relate this back to data and Experian Data Quality, well oh contraire, because everything always relates back to data and today’s marketers and advertisers are keenly aware of this fact of life.