Understanding the Future of Retail Marketing (it’s mobile!) ROI – 2012-2015

The retail industry is one of the most competitive markets today that pushes retailers to continuously create new and innovate methods of retaining customers’ interests and patronage. Companies are in a position where they need to address a variety of internal and external challenges in order to adapt to the market accordingly. These various challenges have been identified as having an impact on revenue, market share, and competitiveness, which all result in any company’s success.

The core factors that drive internal challenges for retailers range from increasing profitability and cross-channel business processes, all while external expectations from consumers constantly change making competition even fiercer. All of these factors need to be addressed head on, and in order to do so, retailers need to come up with new strategic ways to attract and retain their customers. 80.3% of retailers expressed that implementing technology enhancements was the top strategy for addressing change through 2015. These technology enhancements are being made to improve their customer relationship management (CRM) and the collection and analysis of customer feedback. One of the hottest new channels that retailers are allocating budget for is mobile. Retailers are dabbling with different mobile strategies such as QR, SMS/MMS, and Apps to figure out which piece fits in their marketing mix the best and gives them the highest ROI.

In order to pinpoint the long-term strategies and priorities, Retail Redefined conducted a survey with more than 100 industry leaders in a variety of retail verticals and range of revenue levels:

  • 38.9% of respondents said changing consumer expectations topped the list of their most difficultexternal challenges.
  • 51.9% of saw profitability pressure as the greatest internal challenge.
  • 36.1% of mobility and 27.0% of business intelligence optimization were the top two technology implementations believed best for refocusing retail companies.
  • 70.9% said they will increase their focus on online marketing and selling to address critical internal and external challenges
  • 5.1% only, reported that they will decrease brick-and-mortar locations, making this strategy the least prevalent for battling market challenges.
  • 32.1% of respondents indicated CRM their number-one investment focus, with inventory management at 19.6% and financial reporting (ERP) at 18.4%, ranking second and third.

The retailers and companies that embrace new emerging technologies with strategic implementation will be the retailers that succeed and grow along with their ever-changing target audience.

To read the full white paper by Retail TouchPoints about this topic, click here.

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About Mogreet
With all of the clutter and confusion about mobile marketing and MMS message marketing on the internet, this blog is to help you with news and tips in mobile marketing. About Mogreet We help brands & agencies communicate via mobile messaging - in vibrant video, images, & audio MMS. Text MMS to 21534 for a live MMS demo. Msg&Data rates may apply.

3 Responses to Understanding the Future of Retail Marketing (it’s mobile!) ROI – 2012-2015

  1. Yordie Sands says:

    This is a huge statistic, “70.9% said they will increase their focus on online marketing and selling to address critical internal and external challenges”

    Good article, great point of view.

  2. Pingback: e-Dialog's Top 10 Don't Miss Marketing Links of the Week | e-Dialog Marketing Blog

  3. Very interesting post! Thx for sharing. I just published an introduction to M-Commerce as well:

    Chapter IX – What Is M-Commerce? http://wp.me/p2lLHI-m8

    Looking forward to hearing from you!

    Best,

    Johannes

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