Harnessing mobility in retail_ 5 challenges to overcome _ retail customer experience
The Department of Commerce reported e-commerce sales in the first quarter of 2016 accounted for 7.7 percent of total retail sales. Euro pak rupee exchange rate So, although more than 90 percent of retail transactions are still done in stores, mobile devices are affecting how shopping is done in brick-and-mortar locations.
Consumers are now conducting product research, comparing prices and accessing coupons inside the store, instead of at home on a computer. Text editor windows 10 This creates a wealth of marketing opportunities for retailers who invest in data collection for optimizing the customer experience and mobile technology as the delivery vehicle. Future stock market predictions 2014 However, there are five main challenges to overcome in order to realize these opportunities.
Every retailer has a slightly different customer than the next. Usd rub rate Understanding and segmenting your customer base will be critical when building a mobile marketing strategy, because of the personalized nature of smartphones themselves and because of the way they are used by consumers. 30 in binary Retailers should look closely at customer buying habits, frequency of shopping and distribution of shopping across channels. Gender identity crisis You need to understand how comfortable your customers are to receive marketing messages on their mobile devices. Kurs usd rupiah Strategies must be put in place to help consumers adopt and leverage the mobile technology. New york stock exchange futures Also, policies and privacy should be clearly spelled out to the consumer so they know what they are opting in for.
A mobile marketing strategy must take the uniqueness of the retailers’ brand into account or it could erode the brand image. Australia to us exchange rate Just as a poor in-store or online experience can erode a brand, mobile marketing implemented incorrectly can quickly do the same. Aud usd live chart All mobile marketing initiatives should be tailored to the customer base and be in line with all brand values and standards.
Develop a mobile marketing strategy that is true to your business model. Binary decimal Consider differentiators like loyalty-based, promotional and large product assortment-based retailers. Used future Also, make sure this momentum can be sustained by staff after the technology launch.
According to a recent survey by DMI, about 86 percent of customers are willing to pay more for a better customer experience. Euro forecast Nearly 78 percent of millennials surveyed indicated they’d purchase more from retail stores that offer great mobile in-store shopping tools, and more than 80 percent of high-income shoppers ($100K income) believe such tools would improve the overall in-store shopping experience. Sgd to usd chart This means that a strong way to attract customers is by offering them information that is highly relevant. Current stock market futures today So, how do you do this?
A. Funny quotes about work The first step is to collect and consolidate your marketing data. 1 usd to inr xoom Without a true understanding of your customer buying habits, it will be difficult to personalize the experience. Usd to hkd exchange rate history Arrange the customer data based on customer segments derived from the data, which will in turn optimize your marketing and promotional impact. 1 usd to mxn Build a strategy of pairing offers and marketing messages based on the consolidated data from your CRM, e-commerce platform, loyalty programs and marketing systems.
B. How to use binary code Next, build a mobile website or native application to use as your customer interaction interface and make it location-aware for in-store relevance. Usd to thb exchange rate Look into developing a mobile cross-sell or up-sell strategy to drive incremental sales.
C. Dollar to rupee exchange rate today Lastly, actively promote the availability of the mobile website or native app in-store to inspire adoption. Computer binary code The end result will be a better shopping experience for consumers and higher revenue for you.
A channel-specific approach to marketing leads to inconsistency of not only the shopping experience but also of the brand experience in general. Aud conversion to usd Having consistent offers and promotions across your marketing materials, digital properties and in-store operations requires collaboration and cooperation with a number of departments. Mxn to usd exchange rate For this reason, centralized marketing and merchandising efforts have become critical for omnichannel success.
Even with the growing emphasis on digital marketing, the physical store is still incredibly important. Biliary duct system According to the TimeTrade Retail Survey, store traffic was forecast to be strong in 2016, with 72 percent of respondents planning to shop in-store as much as last year and 18 percent expecting to shop in-store even more than last year. Aud to usd chart The problem is that a significant number of purchases and shopping trips occur anonymously. The millionaire tv show So, an investment must be made to track consumer preferences inside the store. Hex converter to text Adding mobile marketing technology is a crucial cross-channel initiative that should be considered with any omnichannel reorganization.
Retailers that have already implemented mobile websites and apps are seeing traffic numbers continue to rise. Usa today sports The Demandware Shopping Index found that, in Q2 2016, 49 percent of all traffic to retail sites in the U.S. Binary star came from smartphones. Aud usd For those that haven’t, mobile offers an untapped vehicle for personalizing offers and marketing messages both online and in-store. Dow futures marketwatch Technologies such as GPS, beacons and notifications are now being used successfully inside the store to deliver marketing messages aimed at creating awareness and informing the consumer on discounts that will ultimately inspire a purchase.
Using GPS technologies, retailers can target customers with marketing messages and offers as they approach a store to inspire a visit. Usd to inr conversion calculator Beacon and Wi-Fi technology can be used to pinpoint where a consumer is in the store to provide offers when the product is within arm’s reach. Commodity meaning Retailers are now developing native apps that offer convenience for delivering and storing coupons (physical coupons can be entered using the camera to scan QR or barcodes). Today’s conversion rate usd to inr Finally, retailers that have accumulated big data using physical loyalty programs can use native apps to leverage this information to make personalized offers based on previous in-store purchases.
Shelf space is a valuable commodity. Understanding futures markets pdf Retailers are now looking at ways to digitize the shelf space by using native apps on a consumer’s phone as the delivery vehicle. Flower tattoo sleeve Since most competing products are grouped together in stores, this provides an opportunity for consumer brands to steal sales while the consumer is in the aisle making product comparisons. Chicken stock meaning in urdu Retailers can charge the brands for this privilege (most likely a percentage of the sale).
Beacons can be strategically placed around the store to detect where a consumer is via their mobile phone’s Bluetooth. Usd eur When a consumer walks by a beacon, promotions, coupons and cross-sells can be delivered through notifications on the consumer’s mobile device. Euro to pound exchange rate graph It is a very effective marketing medium, but it is costly to purchase and maintain the beacons. Pound euro forecast 2016 It also requires the build-out and maintenance of a mobile app for the delivery vehicle of promotions and coupons.
Product scanning requires a native app and the consumer’s mobile phone camera as the input device. Gold price forecast 2020 When a barcode is scanned using the camera to acquire more product information, a competing product can be displayed, offering a discount or some other promotion. Usd football This is the most accurate way of telling what products a customer is looking at and where they are in the store. Us market futures today It is a relatively inexpensive implementation and offers lower maintenance costs since there are no hardware requirements. Dollar to pound exchange rate history The drawback is that the consumer must scan the product – an extra step that will limit the number of people a retailer can target in the store with offers.
Wi-Fi allows you to triangulate a consumer’s location in the store using the store’s available wireless network. Usd cad exchange rate If the store already has Wi-Fi, this can be a cheaper implementation than using beacons. Marketing in the future Offers can be sent to consumers when they open the app in the aisle. Used book stores phoenix The drawback is that the technology today is only accurate up to 10 feet. Stock value history As this technology is perfected, it should be the most prevalent marketing vehicle.