The Next Generation Retail Summit brings together senior level decision makers from across American retail, offering an opportunity to meet with international solution providers who can help them achieve their goals.
Marketing is the engine of your business that scales your brand's sales and revenue generation. Its practice focuses on delivering your brand's message to its audience at the right time, pushing consumers through the sales funnel and turning them into happy customers. However, online marketing is currently an inefficient practice, as brand messaging can easily become forgotten by audiences at each step of the funnel. Retargeting fixes this by keeping your brand message in front of your audience, a psychologically effective tactic that drives revenue and keeps brands top of mind. A great marketing strategy will drive people through the sales funnel and ultimately generate revenue. From brand awareness, through the initial sell, resell, and upsell, great marketing strategies focus attention on consumers at every stage of the funnel.
In our second annual marketing survey, we surveyed CMOs in The CMO Club about their use, expectations, and measurement of social media, then compared the results to the previous year's survey. In short, 2009 marked the year CMOs embraced social media marketing but struggled to tie their strategies to the bottom line. Many evaluated engagement metrics created from social media - such as the number of click-throughs to the website or number of fans or followers - instead of evaluating business metrics like revenues and conversion. In 2009, CMOs aspired to tie social to the bottom line. In 2010, CMOs reported similar challenges in tying social media to revenues. In 2011, revenues remain critical, but the additional value of these consumer interactions - even beyond the site - lies within the key insights customers share with brands. These aggregated insights, when analyzed and put into action, create value far beyond the marketing organization, impacting products, vendor relationships, and corporate strategic initiatives.
Thieves follow the money and there is a lot of it to be found in e-commerce. With consumers more comfortable than ever shopping online, e-retail sales are again enjoying exceptional growth. Worldwide e-retail sales are projected to grow at an annual rate of 19.4% and hit $963 billion in annual dollar volume by 2013 states a report by investment bank Goldman Sachs entitled “Nothing But Net: 2011 Internet Investment Guide.” A Retail Decisions Fraud Prevention Whitepaper
Retailers face intense performance pressure from a host of sources. These include increased competition for new customers from aggressive competitors, declining customer loyalty due in part to a saturation of programs and cost/value conscious consumers, and pricing and discounting pressures that consumers have been trained to search for, enabled by new media. The need to be relevant to the customer is more vital than ever as consumers take control of the ways they choose to engage with your brand. The digital revolution is enabling this shift from marketing push to consumer pull, while simultaneously propelling an incrase in marketing complexity due to the convergence of multiple media. Retailers need to transform to leverage customer behaviors and engagement and need to react quickly to create relevance and trust with today's consumer.
“A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” (Wayne Gretzky, hockey legend) This famous quote is as applicable to hockey as it is to retail, where it is important to play where the customer is going to be. In an industry that is capital intensive, planning for today means you are already several steps behind.
What’s the real value of the customer voice? A Bazaarvoice Whitepaper
Everyone from category managers, sales persons and merchandisers to strategic decision makers will have all the facts available and easily accessible in drillable data visualizations, with no answer more than three mouse-clicks away. Information once hidden or delayed becomes immediate and actionable. Salient enables your managers to: Rationalize Promotions; Optimize SKU Mix; Eliminate Sales Gaps; Optimize Price Points; Maximize Profit per Square Foot; Pay for Performance
For Richie Morgan, President of Holiday Quality Foods, Salient became a tool that allowed him and his team to slice and dice data in a way that was highly efficient and fast – as well as easy to use and understand. Salient’s system is used in different ways throughout Holiday Quality Foods’ organization, from the president to buyers to store management.
Office supplies giant OfficeMax, like many retailers in 2009, faced significant challenges. Consumers were hardly spending – they bought only what they absolutely needed, and often held out for dramatic discounts. And when it came to stocking merchandise, OfficeMax was uncertain about what and how much to order. After reviewing a total of 13 database products, OfficeMax selected the ParAccel Analytic Database (PADB).
Consumers today have unprecedented access to information – including price comparisons, advice, expert opinions and peer reviews – about products and services they are considering for purchase. Once limited to media such as newspapers, magazines, radio, TV and phone directories, growing numbers of shoppers and diners now seek input through websites, email, blog posts, text messages, tweets and more. In response, many retailers and restaurants offer their customers the opportunity to interact and transact through the additional channels that have emerged in the digital age. An NCR Whitepaper
Source: www.ngrsummit.com
