Transform your Marketing to Make Money with Technology
The world is certainly changing, and technology is ever more quickly transforming how sellers make money. In the United States online retailers report sales are up 14% from 2011. European online consumers this year will spend more than 305 billion euros, approximately $396.5 billion, up 20% from 254 billion euros ($330.2 billion) in 2011, according to a projection from Ecommerce Europe. Tradition retail is flat.
Trying to fight back, traditional “brick and mortar” retailers are using technology as well. Email marketing, mobile shopping, and on-site promotions have all played an important role in traditional stores as they try to fight the online encroachment of their customers.
About 23% who took part in a Bizrate survey said that they used a smartphone or tablet to shop online during the much hyped “Black Friday” and “Cyber Monday” sales. Perhaps more impressive is that 70% of those surveyed said they went on to make purchases based on the online research / email that they had done.
The moral? Customer market segmentation (good old CRM — customer relationship management) tools allow saavy traditional and online retailers to target customers most interested in their products. Using a combination of business intelligence to identify who buys from you and then targeting them at the right time in the right way (less email, no calls please and yes send me a text when I’m in the store) results in higher sales at the register — whether it is the in store register or the e-shopping cart.