Your human network could become your best source of competitive and market intelligence after it has been expanded and carefully nurtured. Considering all of the advances in data collection technology, turning to the web for answers has become an addiction for many. (Who hasn't used Google for validation lately, anyway?) In the workplace, though, surfing the web can lead to wasted time and more confusion, costing companies quite a bit of money if really tracked.
Thanks to all-powerful smartphones and the myriad of other mobile devices available today along with the increasing availability of public Wi-Fi, “showrooming” by retail consumers continues to gain in popularity.
Showrooming – or the use of mobile devices by consumers to compare and contrast products and prices with online retailers during in-store experiences – poses serious challenges to retailers that depend heavily on physical outlets.
However, behavioral data demonstrates that there are also ample opportunities for both retailers and consumer packaged goods (CPG) companies to connect with the mobile in-store consumer.
For instance, while 42 percent of in-store mobile users ultimately made their purchases online, a full 30 percent of consumers made their purchases in-store, according to a study by the Interactive Advertising Bureau in partnership with Ipsos MediaCT.
Moreover, 32 percent of consumers who used their mobile devices while shopping were also more likely to make additional unplanned purchases in the store.
There are several effective ways that CPG and retail leaders can use consumer data and predictive analytics to strengthen in-store purchasing by mobile consumers.
For example, research by Flurry reveals that the amount of time spent by consumers on mobile apps each day has risen from 80 percent last year to 86 percent this year. What this means is that a high percentage of consumers are devoting significant portions of their time on mobile devices to the use of mobile apps.
According to an infographic created by TIBCO Spotfire, retail mobile app purchase revenue is expected to grow 417 percent to $31 billion among global digital consumers by 2016.
In school, we learn about geniuses and their ideas, but how did they get those ideas? What are the mental processes, attitudes, work habits, behaviors, and beliefs that enable creative geniuses to view the same things as the rest of us, yet see something different?
Yesterday we shared a detailed article on mobile checkout for credit card processing, how it works and the fees associated. This August, the CONNECT 2014 Mobile Innovation Summit will be held for retailers and restaurants to see the incredible advancements in technologies that are happening in the mobile space.+
Isis and the summit have released this infographic, showing the data that most Americans now own a smartphone, with a higher-than-average chunk of them in the critical 18-to-29 demographic. They are using them to shop (retail revenue via smartphones rose 113 percent in 2013, while tablet revenue grew 86 percent) and eat out (83 percent use their smartphone to choose a restaurant while traveling.)+
Aside from the internal mobile activity of patrons and customers, this shift to mobile means that every retail and restaurant should be developing web applications, mobile applications, optimizing for mobile search, and ensuring their patrons connect socially and share reviews. Here’s why…
Over three-quarters of consumers (77%) do not want to be tracked in retail stores via their cellphones without explicit consent, according to a recent report from OpinionLab.
Moreover, most (88%) of those who disapprove of automatic tracking still object even if the data is used by retailers to improve the customer experience, and 44% say an opt-out (vs. opt-in) approach would make them less likely to shop with a brand.
Most shoppers (64%) say in-store mobile tracking should be opt-in, though 24% say retailers should not be doing tracking at all.
Below, additional key findings from the report, which was based on data from a survey of 1,042 consumers.
Digital channels are beginning to rank among the top-budgeted areas of marketers' program spend, finds the CMO Council in its latest State of Marketing report [download page]. Indeed, websites, microsites and communities now rival trade shows and conferences in share of planned program spend,...
Social Customer Service for Marketeers by Douglas Karr on Marketing Technology Blog
Customer service IS marketing. I’ll say it again… customer service IS marketing. Because the way you treat your customers is promoted on social media, ratings and reviews every single day, your customer service is no longer an indicator of customer satisfaction, retention or value. Your customers are now a key arm to all of your marketing efforts because they share readily online.+
While Marketing Teams aim to increase brand awareness and lead generation through pushing out information and generating positive engagement, Customer Service Teams aim to improve customer satisfaction and increase customer retention by listening, and responding to customer needs. How the two meet is often seen as a challenge among many organizations. Source: Sentiment
While 60% of companies believe social media is just a marketing channel, they’re ignoring the amplification of their brand through consumer advocates or detractors. All it takes to derail months or years of hard work building trust, authority, and an emotional connection with your audience is mishandling a single event that’s published and promoted on social media. You can recover effectively… but you should never forget that customer service is now a key element of your overall marketing strategy.
Reuters LinkedIn Could Face Customer Lawsuit Over Email Addresses Gulf Business News A federal judge said LinkedIn Corp must face a lawsuit by customers who claimed it violated their privacy by accessing their external email accounts, downloading...
As a B2B leader, do you know how to determine the ROI on your social media efforts? In 2011, MDG Advertising released an interesting infographic titled “The ROI of Social Media: Is Social Media Marketing Effective?” Three years later, this infographic is still relevant in our social media marketing campaigns. In particular, the infographic helps us understand the following: our business objectives; the metrics CMOs apply to measure social media undertakings; and the advancement of social network recruiting.Here are some social media marketing highlights to consider, which are also featured in MDG Advertising’s infographic: 4 Factors For Measuring Social Media....
Retail is changing rapidly – both online and offline. Traditionally, retail establishments have always had low profit margins and high volume to produce the business results they needed to survive. We’re seeing rapid turnover in retail nowadays where technology is accelerating growth and increasing efficiency. Retail establishments that aren’t taking advantage are dying… but retailers that are leveraging technology are owning the market.+
Demographic shifts, the tech revolution, and the consumer demand for more personalized service are altering the roadmap for the customer decision journey.
McKinsey on Marketing lays out what they believe are the new Four P’s of Marketing:+
Pervasive – people shop wherever they are – whether it’s in bed with a tablet or while they’re in the middle of your showroom.Participatory – people are going to create and share ratings and reviews online of companies, products and services.Personalized – batch and blast traditional marketing is no longer working. Emotional connections through similar stories is driving conversions.Prescriptive – mobile applications, online research and social tools are helping consumers take control of their shopping through their own process.
Here is a surprisingly controversial statement: The iPad is going to be huge. Tablets, in general, will someday soon not merely outsell personal computers, but actually replace them, even in businesses, and in productive capacities for which people currently believe “only a PC will do.” Quartz's recent coverage of Apple has outlined in detail the problems...
Digital business is changing the way organizations use and think about technology, moving technology from a supporting player to a leading player in innovation, revenue and market growth, according to Gartner, Inc.
Getting the levels right on all four factors produced a competitive advantage. To stay ahead, however, the company had to keep refining its strategy and adapting its business model. Senior executives often find it difficult to conceptualize all the tweaking and retweaking that must be done — let alone explain it to their employees. .A tool that draws on a simple metaphor: the volume control on a computer. Designing and revising strategy requires regular repositioning on key components of competitiveness – that is, moving those sliders up or down to control the “volume” in each area.
Sharing your scoops to your social media accounts is a must to distribute your curated content. Not only will it drive traffic and leads through your content, but it will help show your expertise with your followers.
How to integrate my topics' content to my website?
Integrating your curated content to your website or blog will allow you to increase your website visitors’ engagement, boost SEO and acquire new visitors. By redirecting your social media traffic to your website, Scoop.it will also help you generate more qualified traffic and leads from your curation work.
Distributing your curated content through a newsletter is a great way to nurture and engage your email subscribers will developing your traffic and visibility.
Creating engaging newsletters with your curated content is really easy.