As 2013 has come to a close, many businesses and consumers are hopeful for a better 2014.
It is interesting to note that some economists are predicting that the current workforce climate is the “new norm.” As such, many are predicting that small business start-ups will be the catalyst to help bring the American economy back. If this is truly the case, then as a potential start-up or established small business owner, keeping grounded on the ever-changing marketing landscape is paramount.
While the economy may still be a bit sluggish, consumers have proven many times that they will spend incrementally more for what they see as value. As such, it is critical to ensure that your brand (or product) is within the consideration set to buy. Your brand must be prominent and be able to solve a problem or satisfy a need. Below are a few trends that may be considered as potential strategies to implement in 2014.
Stave off Abandonment
There have been many retargeting efforts to reach shoppers once they have abandoned their cart.
However, consider extending those efforts to those who visit your site but haven’t initiated a purchase. Many shoppers may window shop at your website several times. When you have that consumer who keeps coming back, seek ways to convert them into a buyers.
There are many companies that provide services to capture a specific behavior online and distribute your message across a variety of platforms. Content is key. What your message is surrounded by can also yield a higher probability of that consumer being converted to buy a given product/service. A sample of companies who can assist in native placement within premium publishers on a variety of include the Jun Group, Sharethrough, and YuMe.
Growing Your Database
Many consumers will opt-in to receive emails if they know that they will get something in return. Ensure that your employees are well versed on the benefits of opt-in emails, and that the process is easy for the consumer.
Nothing is worse than to tell a customer it will take an only a couple of minutes and the process takes much longer. In addition, communicate the value of opting in; such as private sale invitation, rewards program, etc.
Today’s customers demand personalized messaging and product/services that satisfy a desired need.
For retailers, consider looking at those who have created an account with you and offer products/services that are similar to past purchases. This also gives you an opportunity to upsell. For business-to-business companies, consider behavior-based content or what stage they are in the purchase cycle to make recommendations. Also, consider providing demonstration videos or customer feedback from those who have purchased.
The Savvy Buyer
Thanks to the internet and the variety of information available, today’s buyers are very well-informed.
Modeling consumer purchase behaviors will assist in developing and delivering the right messages. Consumers share their experiences on social media and make recommendations about products/services.
Seek ways to integrate your brand into discussions via social media. Ensure that this is done naturally and not forced. From an employee stand point, if you have an employee who does an excellent job of up-selling and recalling repeat customer’s purchase patterns, have that employee train others. Don’t forget to reward that employee as a means to incentivize other employees to do the same.
The year is new. Make a point to start off right in order to sustain momentum throughout the year.
Adele Lassere is a marketing/advertising consultant with 20+ years experience, freelance writer and author of “Elements of Buying: A How To Reference Guide on Advertising for Business Owners,” available at Amazon.com. Adele was listed as Black Enterprise’s 2011 Top Execs in Marketing & Advertising and Black Enterprise’s 2013 Top Women Executives in Advertising & Marketing. Contact: firstname.lastname@example.org
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