Understanding and influencing the modern shopping journey
Retail marketing has changed dramatically over the last 30 years. In the 1980s, creating the right marketing mix meant deciding on the percentage of the budget that would be spent above and below the line and then allocating the above the line budget to the various media – TV, publishing, and billboards, for example. It was a mass-marketing world designed to drive consumers into stores.
Today things couldn’t be more different. Retail marketing executives are faced with an omnichannel world where the customer journey has changed beyond all recognition.
Consumers hop from channel to channel in their quest to find the products and services that meet their needs. They use social media, online reviews, and comparison sites to canvas opinions. They expect a personalized, engaging experience at every touch point. And if they don’t get it, they will abandon their shopping trolleys without a second thought.
Defining an effective marketing mix in this complex world is tough. In order to maximize revenue, retail marketing executives require an intimate knowledge of multiple communications channels and the ability to market effectively at each stage of the customer journey. It seems almost impossible.
But it’s not impossible, and in our Six Strategies to Simplify Retail Marketing, we show how marketing executives can rise to the challenge and walk side by side with consumers on their shopping journey, guiding them at each stage with individual information, promotions, and offers.
Discover our six strategies here.
Joerg Koesters is a technology marketing executive with a passion for the retail and consumer industries and a retail ambassador for SAP. You can follow him @joergkoesters.on Twitter.