Achieving a Next-level digital marketing strategy
Earlier this month, British retail giant Next reported an outstanding end to 2021. Not only were overall sales £70 million ahead of expectations, online sales were up almost 50% on pre-pandemic levels. As a household name and trusted brand, it may be no surprise that Next’s eCommerce profits have soared so significantly across two years of consecutive lockdowns and high street closures. However, having decided to invest almost all of its marketing budget into digital channels early last year, the brand’s success must be attributed at least in part to its exceptional digital marketing strategy.
The average retailer's marketing budget may be far lower than Next’s, but its priorities shouldn’t be. If you’re a brand looking to achieve an equally effective digital strategy, here are some tips to get you started.
With marketing budgets bouncing back to pre-Covid levels, marketers redirecting their resources to digital strategies have to do so with care. For mid-market businesses, finding affordable martech solutions to support their digital efforts can be a struggle. If they want to avoid vendor bloat, they must invest wisely.
Rather than having one tool per process, businesses should look to flexible tools able to perform multiple functions across their website. A consolidated solution that can power on- and off-site conversion functions in one toolkit is preferable to single-point solutions. Multifunctional tools offer businesses increased operational efficiencies and fewer silos, whilst also ensuring a clean and consistent customer experience.
Listening to your customers
One such capability vital for ensuring a standout digital strategy are tools to interact with and understand consumers. Technology like on-site problem solvers and surveys enable retailers to provide a personalised online service akin to that of an in-store sales assistant, identifying the needs of each individual and guiding them through their purchasing journey. As well as providing direct assistance to customers, tools of this kind help retailers to build up a clearer picture of the purchasing habits and preferences of their customer base, empowering them to apply effective personalised campaigns in real-time.
Timing is everything
There are plenty of tools that allow retailers to interact with customers during their purchasing journey. But timing is everything. Just like a pestering sales assistant in-store, persistent or irrelevant messages can negatively impact the online shopping experience, and cause consumers to look elsewhere. Retailers must adopt ways to engage with their customers at the right time whether it be on-site, through digital assistant technology, or off-site, through automated emails. Understanding the best time to prompt customers is vital for an effective digital marketing strategy, and can make or break a customer’s impression of a brand.
Prioritising multi-functional tools able to empower consumers and boost brands is vital for mid-market retailers looking to improve their digital offer. For more information on how technology can help your brand achieve a Next-level marketing strategy, get in touch with the Ve team today.