3 Ways to Improve Your Retail Marketing Efforts

In my last post, I wrote about the top 5 ways smartphone shopping and social media sharing are changing the face of retail marketing (based on a fantastic infographic called The Meaning of Like).

Here are the 3 trends you can use to improve your retail marketing efforts and thus keep up with the changing retail landscape:

1. Mobile point of sale (POS)

You know how Apple stores do not have traditional check-out lines and cash registers?  That’s the future. Long lines translate into lost sales (which has affected me as a consumer – I will absolutely not stand in a long line at H&M). If you can set up mobile point of sale transactions in your retail outlets, I bet you will increase sales.

Three mobile POS options are: Revel Systems, NCR Counterpoint Mobile and POSGuys (I am not affiliated with any of these companies).

2. Social-local-mobile marketing

Social, local and mobile all collide in Facebook Places, Foursquare and Yelp, all of which I know you have heard of.  These social marketing tools let you do so much more than just set up shop online. Customers can share reviews, you can engage with customers, and you can offer geo-targeted deals (to passers-by or all residents within a mile radius, for example).

3. Big data analytics

Want to increase your operating margins? Get comfortable with data. Your point of sale system analyzes sales and consumer data. Your Web analytics software analyzes website behavior. Your loyalty program analyzes individual behavior and trends. Pull in social media analytics, and you will have a robust view of customer spending patterns, allowing you to improve sales campaign targeting and marketing efforts.

Unfortunately, there is no single analytics tool that will do all of this for you. It’s up to you to connect the dots.

If you are a retailer, what will you be doing differently this holiday season and beyond to improve your marketing efforts?

Image courtesy of nature.org

This entry was posted on Thursday, November 15th, 2012 at 9:00 am and is filed under Marketing. You can follow any responses to this entry through the RSS 2.0 feed.


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