Personalization: Finally Consumers and Marketers Agree!

Aug11

 Personalization: Finally Consumers and Marketers Agree!

There is no wonder why Coke’s #shareacoke campaign has had huge success this summer – who wouldn’t want a bottle (from one of the biggest brands in pop) personalized with their name on it?!  For those of you who haven’t seen the campaign, you need to be enlightened by one of the cutest campaigns this summer.

Scores of people are taking road trips to find bottles emblazoned with their names, posting pictures and videos on social networks with many going viral. One couple even hijacked the campaign to make their own personal announcement receiving over 1.5 million views. Part of the reason for the success of the campaign – personalization!

Coke gets it – and more brands need to hop on board. Consumers prefer relevant, personalized offers; while marketing professionals find making content personalized can be a major revenue driver. Marketing professionals and consumers unite: personalization is key!

According to research conducted by Forrester, smartphone owners prefer personalized communications compared to any other form. International Data Center (IDC) also found that about half of consumers preferred relevant, personalized offers from retailers.

Membership in US retail loyalty programs has grown to more than 1 billion, up from less than half that number in 2006. As their experience with these programs deepens, consumers have begun to expect more personalized offers and services in return for their participation. Thanks to the increased sophistication of behavioural and demographic data loyalty programs provide; retailers can satisfy those desires while also addressing their own data requirements, according to eMarketer.

Consumers Will Give You Access – But What Do They Get?

Today’s consumers realize they need to trade some private information to receive more relevant offers. According to Forbes Insights, more than three-quarters of consumers saw the benefit of trading personal information for more relevant discounts and offers, and 62% were willing to do so in return for personalized offers.

Getting personal with your consumer involves gathering mountains of data from various touch points; retail operations, customer volunteered information and data aggregators. Collecting customer data is only part of the marketers’ challenge. There’s a huge leap from gathering data; to having data organized finely enough to provide personalized and individualized recommendations that enhance the customer experience.

Marketers can now take information gleaned from shopping habits and other preferences and then shape the messaging in order to have a greater impact on customers.

Identify Consumer Preferences

Harris Interactive found that the majority of recipients of communications containing personalization from previous shopping experiences and preferences would be more likely to increase their purchases. In fact, 81% of respondents said they were at least somewhat likely to make additional purchases, either online or in-store as a result of those personalized communications.

82% of respondents positively reacted towards receiving more communications, as long as the new correspondence took into account previous shopping habits.

Consumers have already voiced interest in receiving personalized communications, and recent polling suggested that personalization would be a key trend across all consumer communications this year.

The November 2013 Conversant study highlighted that three-quarters of US senior level marketing professionals and agency decision makers agreed that “individualized messages and offers will be more effective than mass messages/offers”– they all say “personalized one-to-one marketing is the future”.

Demand for Personalized Content on the Rise

Heightened consumer demand for messages related to their interests, explains the driver behind the response from executives. Probably the most important reason for the rise of personalization is the high ROI it yields. A recent Tnooz study found that 80% of respondents say personalized content plays a part in their decision to purchase. Marketing professionals also mentioned the same benefits but have also identified increase in repeat purchase as the most desirable benefit. So, not only are consumers more likely to interact with personalized messages, they’re also more likely to spend more money with brands that implement targeted programs.

Not every brand has a product they can personalize like Coke but, it’s clear that communications tailored to your consumer forming 1-to-1 relationships with your audience will increase engagement rates, customer satisfaction and your brand’s revenues.

 

 

 

 

Is Your Retail Brand Ready for the Male Millennial?

Aug07

 

 

Is Your Retail Brand Ready for the Male Millennial?

 

We know millennial females shop more than twice a month, compared to 36% of older females – but what about their male counterparts?

How Do They Shop?

Among millennial males, almost 40% reported shopping for clothing more than twice a month, compared to only 10% of non-millennial men.  Frequency is not the only nugget to notice, male millennials also spend 2X more than men in older generations.

A recent Boston Consulting Group study highlighted the habit that sets millennials apart from other non-millennials – their tendency to shop in groups and seek opinions from others. 49% of millennial males will seek information from a friend, as well as 29% will check online reviews prior to making a purchase; compared to less than 15% of non-millennial males. Unlike the millennial female; millennial males will try fewer brands and have fewer favorite brands.  The good news – when they do try a new brand, they are more likely to convert and stay loyal to the brand contrasting the millennial female.

Keep Them Entertained and Provide Advisors

54% of male millennials seek a fun and energizing shopping experience compared to 39% of non-millennial men; they also value the music and store atmosphere more than their non-millennial counterparts. 46% of millennial males are also more likely to appreciate sales associates who are trendy and wear store merchandise; compared to the 22% of non-millennial males. With these stats its not surprising that male millennials value the store associate as an advisor more than the millennial female.

How to Engage Them

Millennials enjoy going to brick and mortar stores – but their shopping experience is not complete without online retailers, brand sites, social media, and mobile. Millennials want to research products, check prices, make purchases and receive promotions online and on their mobile device.

Is your retail organization communicating with the male millennial on the channel their prefer, providing a consistent and clear message?

 

 

 

Take Notice of the Female Millennial – Or Your Brand Could Get Left Behind!

Jul25

Take Notice of the Female Millennial – Or Your Brand Could Get Left Behind!

Millennials (or adults aged 18 to 33 years) currently represent the generation with the most influence on the retail industry, and marketing professionals are beginning to take notice as this group represents over $600US million annually in sales.

Male and female millennials not only shop and buy more than older generations; they also influence the spending of older generations who look to them for the latest trends, according to the latest report by Punchtab.

Millennial Women Shop Twice As Often

This trend is particularly true for the 47% of millennial women who shop twice a month versus 36% of non-Millennial women. Millennial women are more likely to buy apparel more often for many reasons, one being the cost and perceived value of an item like a t-shirt.  It is more common today for a millennial to buy a $10 t-shirt that will last for a few months, than a $100 t-shirt, which will last for two years.

Millennial Moms Are Savvy & Connected

Millennial moms (who are considered to be savvier than their counterparts in other generations) will spend 4 hours more per week than the average mom on social networks. It is estimated millennial moms spend an approximate 17.4 hours per week on social media networks (source: Weber Shandwick). This provides an opportunity for marketing professionals to connect with this segment in a more meaningful way – the challenge is that few brands are capitalizing on this chance.

The perception of a more connected millennial mom and the size of her personal network has also contributed to the number of times per month (9.6 times per month) she is asked to provide a product recommendation, compared to all other moms who are asked 6.3 times per month (Weber Shandwick). Consumers (especially millennial consumers), have a distrust of brands and advertisers. Waking up to this notion brands are taking aim at the millennial mom for brand recommendations.

Key Take Away: Don’t Underestimate the Millennial Female’s Influence

Armed with the knowledge that millennial women are comfortable engaging with brands across social networks, and that female millennials are 2X to 3X more likely to connect with brands on Facebook and Twitter – how is your brand engaging with the millennial female?

Millennials are a segment not to be missed! They are a population of 80 million empowered, tech-savvy, influential individuals, capable of $10US Trillion in lifetime spending.  How are you and your brand engaging with the females of this generation to ensure the continued success of your retail operation?

How Cross-Channel Marketing Impacts the Buying Cycle

Jul23

How Cross-Channel Marketing Impacts the Buying Cycle

How Cross-Channel Marketing Impacts the Buying Cycle

The importance of Cross Channel to the Buying Cycle

According to Forrester, more than 70% of consumers indicated they personally use three or more devices daily, giving rise to consumers who are connected to their devices 24/7. This affords marketers the opportunity to reach customers during times consumers historically were not available and also provides new marketing opportunities during the buying cycle.

According to Forrester’s Study “ The New Path to Purchase”, 98% of consumers indicated they go online daily, while 85% of them go online several times a day. Two-thirds of respondents also use their desktop, laptop, and mobile devices to access online brand assets.

You will find companies and experts giving them different names, but there are essentially 4 steps in the buying cycle:

  • Discovery
  • Education
  • Purchase
  • Advocacy

The dawn of the connected consumer has not changed any of these steps in the buying cycle but it has greatly altered how the marketing professional can interact with consumers and guide them through the process.

1.  Discovery.  Occurs when a consumer first learns of a specific brand’s product or service. Digital channels are now the primary way consumers first discover a brand – surpassing offline channels two to one. Two-thirds of consumers cited digital resources during discovery whereas; only 27% cited offline channels. Of the digital sources mentioned 1/3 of consumers said search engines were their primary resource.
2.  Education. While a consumer is gathering information on a specific brand, they turn to multiple channels to provide them with the depth of information required to understand the brand and compare it to others. Search engines are the top resource used by 44% of consumers (23% of this coming directly from mobile), while only 25% visit the brand’s website.
3.  Purchase. Digital and mobile channels are also significantly impacting the purchase. One-third of consumers’ recent purchases were completely made online, and the other 15% started their purchase online and completed the transaction offline. Of all ecommerce sales, 15% were made on a mobile device.
4.  Advocacy. Gone are the days consumers believe the reviews from the brand.  The digital consumer is educated, and the information most trusted is from other consumers. 92% of customers will trust a customer review over a brand description. 90% of consumers say online reviews greatly impacted their purchase decision.

Connected Customers Demand Cross-Channel Consistency

As customers advance through the buying cycle, as many as 1/3 of consumers switch devices. As these customers advance through the buying process their expectations of their cross-channel experience also increases. 71% of consumers report a negative feeling towards brands when they run into cross-channel inconsistencies – and 9% will actually stop interacting with the brand.

Key Take-Away: Consistent, Channel-Optimized Content

52% of consumers stated they want to see the same content, but want channel-optimized content as they switch mediums. One in five consumers expect the brand to continue to “know” them across devices, while only 15% expect to remain anonymous.

 

 

 

TAGGA MEDIA ANNOUNCES THE APPOINTMENT OF ROGER LINES AS VICE PRESIDENT OF PRODUCT

May15

VANCOUVER, BRITISH COLUMBIA, May 15, 2014 – Tagga Media, a market leader in cross-channel campaign management software and marketing services, is pleased to announce the appointment of Roger Lines as Vice President of Product. Bringing a wealth of industry experience and knowledge, Lines will oversee the management and development of Tagga’s software products to ensure continuous innovation to the company’s software roadmap. Read more

Tagga Insider

May15

Read insights from a Sport Marketer, Sam Lussier, as she discusses marketing, cross-channel, and Tagga.

In April Sam Lussier, Associate Marketing Manager at an international sports brand, sat with Tagga’s Nicole Steele to discuss how she keeps current with marketing trends, her opinion on marketing professionals’ adoption of new and emerging technologies & her experiences working with Tagga Media. Read more

Why Marketers Need to Understand Facebook Anonymous

May15

Why Marketers Need to Understand Facebook Anonymous

On April 30th Facebook held its f8 Developers Conference for the first time since 2011. The focus, increasing trust among its more than one billion users by providing controls on how much information is shared with the social network. Read more

Demystifying Cross-Channel Marketing

May08

When it comes to cross-channel marketing, knowing whether your social, mobile, email and direct mail campaigns are individually working, much less how they work together is still a major challenge for marketing professionals. Read more

Crossing the Marketing Chasm: How Cross-Channel Marketing Helps Brands Engage Distracted Consumers

May06

CIO’s are from Mars and CMO’s are from Venus, right? Until recently, I believed these business domains and their people lived on different planets. If you had told me 22 years ago that CMOs would be larger consumers of technology than CIOs, I would have laughed. That is, however, very much the reality of where we have arrived.

Read more

Sunwing Launches SMS Flight Alerts System

Feb20

Sunwing Airlines has collaborated with Tagga, a leader in the cross-channel marketing campaign management, to add a SMS (text message) alert function to its online flight reservation system. Conveniently located on the homepage of Sunwing.ca, travelers can sign up to receive updates on their flight status via text message.  Launched in December 2013, SMS alerts will keep passengers up-to-date on any changes to their reserved flights. Sunwing leveraged Tagga’s cross-channel platform API for this implementation.
Read more

Sidebar