The retail industry is clearly at a crossroads. From the compression of storefronts to the explosion of online options, retail marketers have never been more challenged and somewhat overwhelmed in developing viable marketing strategies and tactics that will resonate with retail consumers. Know-how, innovation and ideation don’t seem to be enough to change the retail marketing game in this ever-evolving climate. It’s time to do more than just check the box. We need to rethink, re-imagine and redefine retail marketing.
Here are some considerations every retail marketing professional should entertain.
They’re not customers, they’re clients. It's time to think of the retail consumer as more than another transactional notch in our marketing belt, but as clients with specific needs and wants. We need to do more than simply satisfy these preferences, but build and maintain a renewed and trusted relationship with our retail clients. Nordstrom, a leader in the retail industry for more than a century, has been a longtime proponent of this viewpoint. By viewing customers as clients, they create real relationships throughout the retail experience and beyond. The client experience is more than a core competency, it is a core value that every associate is passionate about. This client focus has fueled Nordstrom's success for decades.
It’s about the experience. Yes, online retail options provide convenience and service levels that satisfy many consumers’ needs, but retail clients still want to touch and feel. It's time to think about the experience before anything else. What motivates a retail client to think beyond shopping to a retail excursion is more than a purchase — it’s the creation of a memory. This excursion may include a meal, a family activity, an event or another engagement that becomes a shareable moment. The retail experience has a lot more to do with the environment, the culture and the brand promise, rather than just another day at the mall. When we look at the latest retail development projects, we are seeing new levels of innovation that includes a combination of offerings under one retail space. Retail marketers must now provide innovative marketing communications solutions that rise to this evolving physical space and create a renewed experience. These solutions must be delivered in real time and include anything from innovative street-level promotions to new-era smartphone applications.
Integrate or perish. There now needs to be a new obsession with the traditional marketing mix that moves beyond our comfort zone to a newly defined professional marketing DNA. Integration needs to be a clear focus where marketing communications are part of a fine-tuned ecosystem that unites all facets of marketing including customer service, advertising, social media, public relations, events, digital interface, mobile and more. This holistic approach will transcend traditional marketing tactics and create a new professional mindset and a re-tooled direction to all marketing efforts. An integrated marketing communications approach is not only needed but is required to address this new era of retail marketing.
Reconsider demographics. Demographics provide insight into the heart of retail clients, yet the retail industry continues to be one-dimensional in its approach. Retail marketers need to refocus their efforts beyond what they perceive as their demographic sweet spot and consider a psychographic approach that includes sources of motivation that transcend traditional demographic thinking. It’s time to understand what retail clients are passionate about and what they expect from each retail experience. Retail marketers now need to harvest emerging segments and move beyond traditional demographic targeting.
Brands still matter. The retail revolution requires far more than a brand refresh and should include a brand audit that defines a new threshold for your brand promise. Beyond measuring brand recognition and other traditional brand metrics, it's time to concentrate on brand loyalty, your inherent brand promise and your brand’s perception in the marketplace. A brand audit is a timely re-examination of the inherent traits your brand possesses and how it does or does not resonate with your audience. The brand audit needs to be a regular, 360-degree process that includes a thorough re-examination of your internal and external publics, benchmarking your current brand perception.
Every day is a brand new day for retail marketing professionals, where talent, creativity and imagination will always prevail. If we make retail experiential, the best brick-and-mortar or digital interface will only enhance the overall client experience and refocus the retail mindset to the next generation of consumers.
