How can a Retail Business improve their Digital Marketing Strategy?

Written by Lashaun on October 30, 2014.

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Improving your digital presence is about more than just adopting new technology and adding social media to your website.  The key for retailers is to align their digital marketing strategy to the consumers’ expectations, one that is consistent with the in-store buying process.  Additionally, you should consider the idea of the Internet of Things [IOT] and how it connects every aspect of the buying process, not just the technology and devices, but the actual customer as well.  In doing so you can optimize your digital marketing strategy to stay connected, build a strong brand and increase sales. 

Here a few things to consider when developing a digital marketing strategy for your retail business.  
Meet your customers’ digital expectations
Today’s consumers have more choices than ever for how and when they want to access content, allowing them to take a multi-channel approach in researching and buying products.  By understanding these expectations retailers can align their online purchase processes with their in-store process, which increases the likelihood that a consumer will transition from browser to buyer.  The smartphone, for example, has replaced the tablet as the leading device for researching purchases.  They have also introduced retailers to what has become known as the connected consumer-a consumer who accepts to be able to shop wherever, whenever, and however they like. 
 
Moreover, consumers expect to reach your store are ready to buy, and in some cases have the transaction completed ty the time they actually arrive at your store, resulting in  la seamless buying experience- online and in store. Additionally, digital applications  like Radio-Frequency Identification (RFID) RFID, and other retailer technology can  benefit  your business  as  well by  allowing employees to  do inventory faster and more accurately, As well provide   a higher level of customer service, by streamlined the checkout process.  The more value you are able to provide to your customers, the more business money they will spend.  
Make it a one stop shop  
Set your business apart from other brands by offering e-commerce--shipments, returns and price matching, etc., to increase their opportunity to build brand loyalty and maintain customers.  Take Amazon, for example.  This major e-retailer         has made the entire purchase process easy for customer by providing everything they need—from initial research, to price comparisons and product reviews, all the way to making the purchase.  As a result, consumers feel empowered and in control of the process, while they continue to gain more insight into buyer’s behaviors and habits from the information they share on the site. 
Social media = social commerce
With the advent of social media came social shopping, allowing customers to interact with their favorite brands.  A retailer that actively using multiple social media platforms can build relationships that will drive traffic to your website and create brand ambassadors through ‘Liking’ and sharing.  Utilize your social media pages to talk to consumers, share new product information, and announce specials. However, take it a step further by making it possible for them to begin the buying process on your social media page. An example of this is Target. With the use of Like2Buy, Target fans can shop via Instagram, by simply selecting the image, and being linked directly to Targets main website to complete the check-out.   
 

Final thoughts
Every business is different, and the way in which you execute these tips will be based on your business needs. When it comes to your digital marketing strategy social media efforts, your business will benefit the most if you use a more service-focused approach rather simply pushing your products on to customers. 

ChangeU: for your independent study ...

Retailing 2015: New Frontiers - PwC http://goo.gl/rJkcAG

PricewaterhouseCoopers and TNS Retail Forward collaborate to report on this overview of the retail industry through 2015.

2015 Retail IT Spending Predicted to Surpass $190 Billion http://goo.gl/bCQSqh
The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5 percent over 2014  and surpass $190 billion worldwide, according to a new report by IHL,  a global research and advisory firm specializing in technologies for the retail and hospitality industries.

ConversantTM Retail Marketer Insights Study 2014 http://goo.gl/tMI16Q  

New research with important insights into the digital opportunities and challenges faced by leading senior level retail marketers. 


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How can a Retail Business improve their Digital Marketing Strategy?

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