Whether you want to increase product visibility or boost revenue, a retail marketing platform is a game-changing investment. There are four key benefits you should expect from a fully-integrated solution. Identify inactive customers and run win-back campaigns. This tactic can encourage new customer referrals and build loyalty with existing ones. Retailers should embrace digital marketing to attract customers from all over. It allows them to increase profits, improve customer service and reduce costs.
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Personalized Messaging
The best retail marketing platform provides a streamlined and effective means for marketers to deliver personalized messaging at scale. Messages that are targeted to a specific segment of your audience can be delivered via email, mobile app, social media, and web. For example, if you have an audience interested in music, you can send them alerts when a new album by their favorite artist is released. This type of personalized messaging can increase your app engagement and ultimately drive more conversions. Using your data and consumer insight, you can target customers with relevant messages that will make them feel valued by your brand. The 4 Ps of marketing can be daunting, but a retail marketing platform makes it easier for your team to get organized and focus on driving results. Keep your database clean and current by reducing duplicates and unsubscribes. Keep your customers engaged with automated welcome and re-engagement programs. Send timely and relevant messages like password reset reminders, order updates, and shipping notifications. Respond to changing conditions and seasonal demands with campaigns that are quick to launch and easy to manage.
Streamlined Management
Streamlining business processes can help employees clearly understand the tasks they need to complete and save time for everyone. This may also reduce employee absenteeism or turnover. Streamlined management systems are often more cost-effective since they decrease paper use and require less staff. Retail media networks allow stores and brands to advertise directly to consumers digitally. These networks can include social media platforms reaching billions of users worldwide. Unlike traditional advertising, retail media networks connect retailers and brand marketers with a shared ad tech platform that provides supply and demand for each other. The result is a more authentic, personalized way for retailers to reach shoppers. In addition to ad targeting, retail marketing platforms have built-in content distribution capabilities that enable marketers to create and distribute digital ads to local audiences across the network. This allows advertisers to reach shoppers at all buyer journeys, from research to conversion.
Real-Time Reporting
Whether you’re an account manager who creates weekly or monthly performance reports for clients or an executive who reviews those reports and aligns marketing strategy accordingly, real-time reporting can make your life much easier. Rather than waiting for data to be collected and reported in advance, the ability to access information immediately can help you detect a positive or negative impact on sales — and quickly respond accordingly. Moreover, real-time reporting allows you to test your analytics system’s effectiveness without waiting for static report results. This is especially useful for measuring marketing initiatives that have a temporal nature, like a social media campaign. When retail media needed to emerge first, there needed to be more integration between marketing and merchandising. Now, with a retail marketing platform, marketing and merchandising are integrated throughout the customer journey. Unlike aggregated ad networks, your campaigns will be tailored to shopper needs and deliver measurable, meaningful results. This is the real benefit of retail marketing platforms.
Analytics
Using data analytics, retailers can keep track of current market conditions to determine what products and services are in demand. They can also improve their pricing by analyzing the number of people who abandon their online shopping carts, competitors’ prices for the same product or service, and so on. By doing this, they can ensure they get the best price for their product or service and still make a profit. Retail marketing platforms provide the insight necessary to take advantage of these benefits. They integrate and unify targeting, messaging, and attribution across all channels. As a result, shoppers enjoy a seamless branded experience.
Additionally, these systems make it easier for retailers to demonstrate ROI to CPGs. With a retail marketing platform, marketers can confidently demonstrate how their strategy has impacted revenue performance, customer acquisition, purchase frequency, and more. A retail marketing platform also supports collaborative commercial planning by facilitating cross-team communication and eliminating siloed marketing and merchandising teams.
Increased Revenue
You increase revenue by making purchasing your products or services easier for customers. This can be done in various ways, including offering free shipping, coupons, and other promotions. These strategies can also help you build brand loyalty and encourage repeat purchases. Delivering relevant, personalized messages to your customers has become essential for retailers. A retail marketing platform provides a fully integrated solution that unifies targeting, messaging, and attribution so you can see the true impact of your campaigns. With a retail marketing platform, you can continually learn and improve based on the data you collect.
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