Tomás Puig, Global CMO at Emarsys, the marketing and branding experts, reminds us that while the quest for new clients must go on, the pot of gold is to be found in the clients who are already buying from us.
"It was interesting to hear about the tales from the frontline and the next stage of the digitally-led transformation that kicked off the 10th annual Internet Retailing Conference. It's an opportune moment for marketers to reflect on the ever changing eCommerce landscape as well as look ahead to how the industry can improve and evolve.
"Too much of a retailer's resources and focus is placed on getting first time buyers, but maximizing revenue from returning and loyal customers is the key to success in today's hyper competitive market. 80% of marketing budgets are spent on getting first-time shoppers, only 2% of visitors actually buy and just 30% of first-time buyers will purchase again. It's essential to build unified customer profiles to "re-active" customers through digital automation, and then reach them by different channels such as emails, social media ads and even SMS.
"Customers are not static - they use different devices and many channels at all times of the day to access their favorite brands' website. With a significant rise in mobile use, consumers want products and services instantly at the touch of a screen. Messaging and services need to remain relevant for consumers, and the challenge remains to create entirely fluid user experiences, with customers being able to seamlessly access products and services with consistency across a range of devices and channels. Accessing and leveraging customer data is the most efficient way for brands to do this in the future.
"Customers expect brands to take the time to get to know them. Customer insight technology reveals how often customers buy from a specific site, or what they've bought. This information helps marketers automate relevant messaging to their clients. Meanwhile predictive technology advertises other items they may like to buy in the future.
"The next ten years will see further development in innovative marketing technology, personalization and multichannel interactions with customers. This will help brands better understand their customers and therefore connect with them in ways that are highly relevant to their shopping interests and purchasing preferences."
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