Silos and Spreadsheets in a Big Data, Always On World
By Aptaris / December 2014Insights
By Guest Blogger Gary Hawkins of Hawkins Strategic
Retail industry marketing is dramatically transforming as mass promotion gives way to marketing personalization on an ever-expanding scale.
Big Data and Precision Targeting Promotions
An increasing number of retailers are leveraging shopper data and other big data initiatives to precision target promotions to specific shoppers or shopper households with a goal of efficiently growing basket size, shopping visits, and retention of shoppers over time. In addition, growing numbers of retailers are personalizing even their traditional weekly (mass) ad flyers, parsing the specials against the shopper’s purchase history to present the most relevant promotions.
Empowered Always-On Consumer
This trend being driven by consumers who increasingly expect – even demand – that marketing communications be relevant to them. As a shopper, ‘If I do not have pets do not waste my time making me look at the pet food promotions in the weekly circular as I search for savings on products I want to buy’.
For the Right Promo to Right Shopper at Right Time in Right Place–You Need the Right Technology
Determining and delivering the right promotion to the right shopper at the right time and in the right place requires sophisticated technology. Shopper analytics, algorithms to power promotion targeting and optimization, and fluency across multiple digital channels all must come together to drive meaningful engagement with the shopper. And we can’t forget about direct mail which, although costly, still retains a place in the world of personalized communications. Often overlooked in the technologies required to do this kind of marketing personalization on a significant scale is the need to insure the right product image, text, and promotion copy are being used. In an age of shopper-specific marketing, when there is no shelf sign to identify the promoted product, conveying accurate promotion details – especially the product graphic used – is mission-critical in helping the shopper choose the right product when in the store. Nothing destroys the personalization experience like the shopper getting to checkout and being told they have the wrong product or package size. This calls out the need for Enterprise Marketing and Promotion Management systems designed to support retailers in this new world. This is an emerging solution need in the marketplace today and is being addressed by only a few solution providers, one of whom is Aptaris. As a retail marketer, it’s vitally important to focus on execution-based solutions that help deliver a good shopping experience. Presenting the right promotion elements to the shopper is fundamental to success in the new world of marketing personalization.
Gary Hawkins is a retail industry thought leader and is the head of Hawkins Strategic, which provides high-level consulting and advisory services to retailers, brand manufacturers, and technology firms focused on the understanding and use of shopper data to create business gain.