Shortly before the ball dropped on New Year’s Eve, Mariah Carey reminded everyone just as how tumultuous 2016 was. However, for marketers, the year wasn’t all bad. More and more brands began to introduce tactics that lead to more targeted and personalized marketing. We also saw the first time in history that e-commerce sales surpassed brick and mortar sales. Yet, as we make our way through January, below are four ways marketers can build on the momentum sustained in 2016.
- Take Control & Integrate Your Data. How many marketing vendors do you have? If you’re like most companies you have a different partner across mobile, search, display, social, email, and so on. While we’re not disputing the value point solutions can deliver; too often brands deliver their data across the digital ecosystem and fail to integrate it when it's delivered back to the brand. These disparate data sources lead to an incomplete view of the customer. This fractured view of the customer impedes brands from accurately targeting and communicating with their customers.
- Improve the Quality of Your Database. Over 50% of a customer database is unmarketable, representing a lost revenue opportunity. According to our composite data, customers who are marketable are worth 5-20% more marketable than those who are not marketable. To ameliorate this, marketers can incent customers to share their physical or email address, or phone number in-store or online.
- Implement Lifecycle Marketing Campaigns. Once you improve the quality of your database, it is time to maintain its integrity by using Lifecycle Marketing. Lifecycle Marketing is a dynamic and tailored set of campaigns designed to drive purchases by using targeted communications and offers. These campaigns use personalized product imagery, messaging, and offers based on unique customer insights. Lifecycle Marketing campaigns address customer segments at critical stages to intelligently incent them to make a next purchase.
- Bring Customer Intelligence in-Store. Despite the exponential growth of e-commerce, 90% of all sales happen in a physical retail location. We often refer to the store as the last frontier as it is the last channel to receive digital customer data such as web browsing or email behavior. Savvy retailers are beginning to buck this trend by leveraging clienteling solutions that run on CRM data. By marrying the two, it allows in-store associates to personalize the treatment of customers in-store and fulfill the promise of right time, right channel, and right offer.
These are top initiatives that should be on every marketer's to-do list for 2017. Comment below with how you are enhancing your marketing in the upcoming year.