Marketing trends are ever evolving, and as 2017 dawns, it’s important to note what trends will have an impact on retail marketers as they navigate the months ahead and deepen their understanding of their customers. To help retailers understand the trends which will impact their market in 2017, we have listed the top 5 they should be focused on. Knowing your customer allows you to market to them more effectively and ultimately create a better purchase and brand experience.
1. Advanced Cognitive Commerce
While merchants have access to vast amounts of data, it’s hard for them to interpret it into actionable insights. This year, advances in Artificial Intelligence and machine learning will enable more businesses to access and utilize their data streams in comprehensive ways. Cognitive commerce, driven by AI, will become more prominent and will enable businesses to draw insightful conclusions based on customer behavior This, in turn, will help to remarkably improve the efficiency of Sales Operations and Customer Experience.
2. Personalized Messaging and Retargeting
In retail, the number of customers who abandon their online shopping cart is very high. One of the reasons for this is that customers are brought to the shopping cart with aggressive push notifications, such as direct sales pitches etc. Delivering personalized messages tailored to the individual customer’s preferences will be an effective strategy to counteract presumptive customer purchases (or forcing the customer journey)., Sending triggered cart abandonment notifications will also be more effective when they are leveraged with a personalized touch.
3. Social Media Shopping
Any major retailer understands the importance of social media in relation to successful marketing. Much of the focus in this space last year was on customer interactions and community. This year, there will be a greater push to understand WHY customers behave the way they do and to use this information to encourage direct transactions through social media. Facebook’s ‘Buy Now’ and Pinterest’s buyable pins are examples of this type of marketing and will soon play a greater role in the social shopping customer journey.
4. Domain Expertize in Brick and Mortar Stores
In today’s world, customers tend to extensively research products before making purchasing decisions. Retail brick and mortar stores are finding that they must either adapt or die, due to the changing expectations of their customers. Store assistants must have extensive domain knowledge about the products they sell in order to demonstrate their utility and features, helping customers to narrow down their choices before finalizing the purchase.
5. Integrated Marketing Efforts
Customers seamlessly jump across channels to research, buy, and share their experiences with products. More and more, customers are rewarding retailers who provide seamless and personal customer experiences across multiple channels setting the expectation that retailers will be “advanced” and deliver an Amazon-like experience.