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The Key to In-Store Success? Think Like ECommerce

Media Post originally published this article Retailer stores are in a state of turmoil. Traffic is in sharp decline and it’s dropping faster than solutions are being executed.

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Adapting to the Changing Customer

Our team has been thinking about the changing customer quite a bit lately. As a leader in customer insights and customer loyalty, we quite literally see the customer change before our eyes through the actions they take with our clients. What we’ve seen leads us to a critical topic that we don’t cover often. The fallacy of control. Every marketer has this thought at some point that they can control their customer. Through the tools at their disposal they can push customers to perform like a marionette on strings, pulling levers to illicit response.

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Social Trends 2017: Social Channels to Become More Visual

Social media has always been a visual experience. From the invention of Facebook, one of the main attractions was the socialization of pictures that could be shared and viewed. Fast-forward a decade or so and the same holds true, but visual elements are even more aggressive. If we look at the most popular social networks, as well as those that have taken the steepest decline, we can show how visual the medium is for consumers.

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Measuring Loyalty Success

If you remember, all the way back in part one of this loyalty series, we began with foundations of measurement and understanding your customer’s behavior. We identified the importance of clear and concise KPI’s and the dividends they will provide throughout the lifecycle of the program. Now it’s time to harness that foundation. As we started with measurement, we end with measuring your customer and loyalty achievements for incremental gains.

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4 Quick Wins for Capturing Customer Data

We all know first-party data is king. No other form of data provides a better view of the customer than a brand’s own customer data. Having a 360-degree view of your customer lets you understand their shopping behavior by allowing brands to more readily speak to consumers through preferred channels, provide more personalized communications and ultimately increase consumer engagement. This is a win for both consumers and brands. While there are many benefits, capturing data remains elusive.

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Time-Tested Lessons for Launching Loyalty

Executing a loyalty program is a massive undertaking, but we’ve built a solid foundation through research, strategy and financial modeling in previous sections. Even so, tight deadlines, technological barriers and cross-channel fragmentation are just some of the myriad of issues that spring up like a game of Whack-A-Mole. In part 4 of Baesman’s loyalty series, we’ll provide some tips and strategies to secure a successful launch and consistent wins as the program evolves. Data & Technology Real-time data is superior to batching.

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Identifying Profitability for Loyalty

In the initial two phases of loyalty strategy, we identified key KPI’s that will lead to success and influence the program structure. In phase three, we will quantify the program’s likelihood of profitability through a financial model.

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What does successful loyalty look like?

In part I of our loyalty series, we outlined an approach, based on research and intelligence, to build the cornerstones for successful loyalty. By identifying your competition, data, customer segments and cross-functional resources, your team is prepared to build on that foundation to drive success. But what defines success? Setting targets may seem as if it’s designed to help the C-suite sleep well at night, but objectives have a more substantial impact. Mainly those goals will prevent the bureaucracy of cross-functional teams deviating from the bigger picture.

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Is Loyalty Right for my Brand?

Loyalty programs aren’t cookie-cutter—at least not successful ones. Great programs have layers and nuances that harmonize with their brand, customer and goals. Loyalty can’t be an affectation since customers see through insincerity in today’s digitally-saturated world. So how can we provide the best experience for consumers? It all starts with rolling up our sleeves and exploring the data available to us. By researching upfront, marketers garner data to utilize in the later stages of program infrastructure, ensuring a customer-focused program.

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Multi-Country Marketing: How To Market Across Time Zones with Limited Resources

Ecommerce retailers take wildly varied approaches to tackling international markets. For some, the opportunity is obscured by a massive barrier to entry that’s simply too high for the cautious CMO. They isolate and focus resources on efficiencies and optimization for domestic ventures. And while this has often been successful, there’s still an untapped market out there.

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Brand Balance: Utilizing Promotions without Brand Denigration

Promotions are a vexing topic recently as brands struggle with the dichotomy of driving revenue without hurting brand prestige in a saturated market. While the debate stumbles along in classrooms and boardrooms alike, most marketers are simply asking the wrong question. It’s not SHOULD we discount, but how, when and to which consumers are we discounting to reach revenue objectives? First let’s start with why we discount. Inventory Glut – Happens to even the best inventory managers and we need to move through product.

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