Omnichannel Today – Black Friday Edition

Happy Thanksgiving from NectarOM! As we gear up for the eCommerce holidays of Black Friday and Cyber Monday these are the latest news articles we’ve been paying attention to:

JC Penney’s Retail Reinvention

Unlike Nordstrom’s and Macy’s, JCP is on course to exceed holiday expectations during a season where eCommerce and digital platforms are taking away business from retail. The secret, as CEO Marvin Ellison puts it, is finding the balance between the “art” and “science” of retail. JC Penney is taking a completely different approach to their in-store experience, developing attractive new features such as store-within-a-store kiosks for both younger shoppers and the upcoming cohort Millennial-age parents. Next up for the department store? Focusing on the science side of things by making improvements to their eCommerce, supply chain, and data processing abilities.

Amazon’s ingenious scheme to undermine Black Friday

Black Friday and its younger sibling Cyber Monday are a major source of income for the retail industry every year. Since this last Friday, web giant Amazon has taken advantage of the holiday shopping fervor to entice customers with constantly updated deals and featured items, hoping to sway buyers that won’t miss the authentic “Black Friday Experience” of elbowing through crowded stores. That said, certain stores such as Best Buy and Target have responded to Amazon by making their in-store discounts apply to their eCommerce platforms as well.

Facebook Says Nearly One Third of Online Shopping Transactions Are On Mobile Devices

New data from Facebook suggests that its users are becoming much more comfortable with using mobile devices to shop and make purchases. The social media titan expects a 30% increase in the percentage of users who buy on mobile by the end of the fourth quarter. Facebook researchers also observed that about 45% of all shopping occasions involve mobile devices in some fashion, such as during product research that results in a purchase on a desktop.

Retail enters third phase of digital evolution: ‘Emotional’ eCommerce

A new article from the Financial Times discusses how modern shoppers expect brands to develop a relationship with them over social media and other digital platforms. The thought leaders interviewed point to the success of apps like Instagram, Etsy, and Olapic, who offer businesses the ability to showcase their “human side” to potential customers by using memes, shareable posts, and conversation starters to promote fan engagement over social media.

Other stuff we read this week:

How James Murdoch thinks the ad industry should innovate: ‘Empower the Consumer.’
Here’s how advertisers will be able to target TV viewers who see competitors’ ads
Goodbye privacy, hello ‘Alexa’: Amazon Echo, the home robot who hears it all
Volvo Wants to Use Microsoft’s Sci-Fi Glasses to Sell Cars

Check back next time for the latest developments in omnichannel! We’ll bring you news, facts, opinions, and infographics that will help you gain a broad perspective of the industry. Drop in, stick around, and subscribe to our newsletter – and who knows? You just might learn something.

Mobile Personalization

Marketing is just like any other tradition here in the United States: as time progresses it begins to change and adapt to new trends that emerge. In 2014, the marketing world has had a lot of new developments thanks to the innovations such as mobile apps, social media, big data breakthroughs, and other discoveries. As a result, there has been a noticeable shift in how marketers create their strategies to promote products and services. Today, we will discuss 3 of these new marketing trends that have emerged in 2014.

1. Don’t Just Personalize, Hyper-Personalize In 2013, personalization was the name of the marketing game. How was this accomplished exactly? By tracking spending habits and recording clicks while signed in to their website. Then the companies would take that information and use it to send personalized offers via email, text or through the website. Hyperpersonalization takes this one step further. By integrating various existing data sets such as personal information and social media data, companies are able to know more about their customers than just their spending data. For example, utilizing information from Susan’s Facebook page, a company might be able to learn that Susan is expecting a baby in a few months and to send her offers for baby clothes. Hyperpersonalization is like knowing what the customer wants before they actually want it

2. Measure Social Media ROI Accurately Measuring ROI from social media in the past has been anything but exact. Every company that has invested in social media has had a different method of measuring the effectiveness of their social media efforts with varied results. In the past, companies measured their social media success by how much revenue it directly generated for them. While this may work for other marketing avenues, it may not necessarily work for social media. In 2014, measuring social media ROI has evolved from looking at revenue generated to the buzz that is created from the efforts put in. Creating buzz around a company will increase a company’s audience and engagement by increasing word of mouth; hence the word “viral”. Understanding how to optimize content to go viral is key in the success of social media implementation.

Mobile Personalization

3. Real Time Geographic Marketing Geographic marketing is not a new innovation. It has been around since the early days albeit in a more primitive fashion; for example, a large billboard perched above a building has an arrow which points down, indicating it is a restaurant to stop at while driving. Over the past few years email has been the primary source of geographic marketing by sending offers to customers within certain distances from companies. In 2014 this will be taken one step further. With the rise in mobile device usage, real-time geographic marketing will be employed by sending SMS messages or emails to customers’ mobile devices when they are certain distance from a company. So if I am in a mall looking for a gift, I might get an SMS on my phone alerting me that a clothing store in the same mall has a sale. That is the power and convenience or geographic marketing.

Marketing will always have a place in any business strategy because it is the most basic form of communicating with potential customers. The best way to look at is summed up in the expression: “The players haven’t changed, but the game has.” By staying on top of the newest developments one can expect to enjoy the benefits of being top of mind.

 

 

Mobile Personalization

Mobile Personalization is one of the hottest new trends in marketing in 2014.  Mobile purchases make up about 20% of all eCommerce transactions and mobile sales are projected to increase from $139 Billion to $400 Billion in the next couple years alone.  It is apparent that mobile presence is growing rapidly, but the real question is “What is the best way to improve mobile presence and interaction?”

1. Push for increase in opt-ins: The first way to improve mobile presence is to push for an increase in opt-ins.  Opt-ins range from customers signing up via mobile devices with their personal information, allowing push notifications to their phone, and cross-promoting mobile offers through their desktop site.  By offering these opt-ins a company is able to gain more personal insight into customers that agree to this and personalize their mobile experience by including their name, deals and offers based on their geographic location, and more relevant product selection based on their previous transaction history.  In short, having these opted-in customers allows a company to associate more personally with the customer and create an opportunity for them to evolve from being a simple customer to an evangelist for your brand.

Mobile Personalization

2. Cross-channel Promotions: The second way to improve mobile presence is cross-channel promotions over mobile.  Within the mobile realm there are multiple ways to reach customers: SMS texts, Apps, social media, passbook, and mobile website.  There are various ways to get involved in this avenue of marketing and it can include text campaigns where potential customers can text a preset number for offers and rewards and thereby entering their phone numbers into a
database for a company.  Another method is to have an app developed for a brand.  This has the most flexibility as the app doesn’t have to serve any particular purpose other than collecting data.  It could be a game, a coupon generator, or any other form of entertainment.  As long as it gets downloaded then it is fulfilling its purpose and creating more personal contact with customers.

3. Geographic data: The final way to improve mobile presence is to tap into geographic data.  This can be done very simply just by having a feature in an app or website that utilizes the phone’s location services to determine
where a customer is and if there are any promotions that would benefit them at their current location.  One way to

Mobile Personalization

capitalize on location information is to send geographically defined text messages or emails to customers based on where they are.  If a customer in a shopping mall, for example, and then receive a text from a store offering a sale a clear call to action is created and it is more likely to be followed up with because of the proximity to the store.

As mobile presence increases and customers are more focused on their devices than ever before, marketers too must focus more on these devices.  The ability to capture customer data and create a more engaged experience for them is available but it’s a matter of acting on it and creating the avenues to acquire this data in the first place.  Once the mobile presence is improved, the results will be noticeable and by connecting with customers it can be expected that lifetime value and loyalty of those customers will be increased dramatically.