Monthly Archives: September 2017

Content Marketing – Stories that Add Value to Your Target Audience

Content marketing is the only marketing left. Teaching your customers and giving your customers the resources to believe you are new marketing, said Seth Godin, renowned marketing author. Seth was right in 1999, and he is still spot on.

The internet provides numerous opportunities for retailers to share information about their brand and products. And this is what customers want. According to the Content Marketing Institute 1, 70% of people would rather learn about a company via an article than an ad.

In fact, “Nine out of ten organizations are now marketing with content – that is, going beyond the traditional sales pitches and instead enhancing brands by publishing (or passing along) relevant information, ideas, and entertainment that customers will value” confirmed Alexander Jutkowitz 2 back in 2014.

What is Content?

Before discussing the “content marketing’ construct, we must first understand what ‘content’ is. Content is everything that a web user reads, hears or experience when he/she visits and interacts with a digital communication.

Dr Dave Chaffey 3 refers to content as the combination of static content forming web pages, but also dynamic rich-media content which encourages interaction such as videos, podcasts, user-generated content and interactive product selectors. But what is the best content for retailers to use?

James Yankey identified the following as best content for retailers to use:

  • Reviews – customer reviews ensure that shoppers feel confident in their purchases. It also let retailers know where they can improve or respond to negativity.
  • Personalized recommendations – knowing your shoppers’ purchase history and what they’re currently in the market for is the best way to offer personalized recommendations.
  • How-to articles and videos – retailers can capture more traffic by providing in-depth how-to’s on their website to help customers get the most out of a new purchase.
  • User generated content – is the fastest growing content type. It helps you create emotional connections with your shoppers and shows that you value your customers’ experience with your products.
  • In-store remarketing – Display ads: similar to ads used by digital marketers, however they’re designed for customers who have browsed in-store rather than browsed online. Email campaigns: to remind shoppers of the products they saw and loved during and instore visit.
  • Loyalty offers – loyalty programs are the second most prominent driver of repeat business (AccessDevelopment.com). Things like offering 10% off a next purchase or creating a loyalty points system helps to establish loyal customers.

All content needs to be marketed…

Content Marketing

What is content marketing? The concept of content marketing can be defined as a marketing approach, which aims to find products produced according to customers’ needs and create customer satisfaction and fulfilment in this way 4.  Conveniently, we live and work  in the digital age…

Digital media allow retailers to target prospects with a defined need. With content marketing, which is proactive and self-selecting, little advertising is wasted 3. Jayson DeMers, contributing in Forbes mentioned three key advantages of content marketing:

Key advantages of content marketing:

  1. Customer relationships. Retailers have the opportunity to build and solidify a customer relationship. The customers, on the other hand, experience a sense of empowerment when digesting the content of retailers. They feel the retailer knows what they want and speaks directly to them. In return, retailers gain satisfied, loyal customers with higher retention rates.
  2. Cost efficiency. It is far less costly to communicate with your customers via content marketing. Creating a valuable blog post might only take a few hours of your time, and it will continue to create value for your brand indefinitely. A paid ad campaign, on the other hand, can be expensive, and its long-term value is comparatively fleeting.
  3. Long-term returns. Content marketing has a higher potential for long-term returns as well. Because paid ads disappear the moment you stop paying for them, there’s a finite and linear value to your investment. Content, on the other hand, offers compounding returns over time.

However, for retailers to enjoy the benefits of content marketing, they should do it the right way.

How to make content marketing work

Important for retailers is that the content they and their users create is managed properly. Therefore a strategic approach is needed…

When you develop a content strategy, there are some key things to consider according to Justin McGill:

  • Who you’re creating it for
  • The problem it’s going to solve for that audience
  • How it will be unique
  • The formats you’ll focus on
  • The channels where it will be published
  • How you will schedule and manage creation and publication

Ok, you’ve tried your best, but are getting nowhere with content marketing. What on earth could be the problem?

Neil Patel, a lifelong evangelist of Kissmetrics proposed the following 10 reasons way your content marketing effort may have failed:

  1. You haven’t refined your strategy. Like any other form of marketing, you need a strategy if you expect to be successful.
  2. You don’t spend much on content marketing. Retailers who spend a lot on marketing are able to grow their markets faster than companies who don’t spend as much.
  3. You aren’t promoting your content. The quickest way to kill your content marketing is to do nothing after you create your content.
  4. Your content sucks. Sometimes, the content just plain sucks.
  5. You’re in a tough niche. The content marketers who are struggling the most are those that are in really hard industries.
  6. You’re up against a goliath of a competitor. There are times when you’re simply facing a dominating competitive landscape.
  7. You haven’t waited long enough. Content marketing takes time. Don’t expect results in a matter of a few weeks or even a few months.
  8. You have horrible SEO. If you’re doing content marketing, but have poor SEO, you might as well not even be creating content. No one is going to find it.
  9. Your expectations are too high. Take a step back and get realistic about content marketing. You might not double your traffic or triple your revenue.
  10. You’re not having any fun with it. Have some fun with content marketing. It’s not supposed to be a painful, awful and dark journey through despondency.

If you’re still battling with content marketing in spite of trying everything, best is to consult a digital marketing expert. Now let’s conclude…

Concluding

Everyone has a story to tell, so they say. Your story, however, may be a good one – a story that your customers value and enjoy. With billions of stories on the web you should take care that it’s your story that is read, hear or seen. Hence the necessity of content marketing.

Read also: Content Marketing Tips for Retailers

Notes

1 Walters, T. and Rose, R. 2015. Is native advertising the new black? Content Marketing Institute, Northeast Ohio Media Group.

2 Jutkowitz, A. 2014. The Content Marketing Revolution, Harvard Business Review.

3 Chaffey, D. 2015. Digital business and E-commerce management, Pearson Education Limited.

4 Köse, U. and Sert, S. 2016. Intelligent Content Marketing with Artificial Intelligence, In International Conference of Scientific Cooperation for Future.

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Video

Fast Adapting Customers Leave Inert Retailers Behind

Fast adapting customers are leaving obstinate retailers in droves. Hence the headlines dominating retail news portals are about thousands of retail stores closing their doors. That’s happening because retail customers are adapting quickly and easily to the digital world of today.

Many retailers, on the other hand, aren’t keeping up with the changing buying habits of their customers. Indeed, they are ignorant at best and stubborn to keep on doing what they did for decades…

The sad result is that retail brands are disappearing. The Centre of Retail Research reports that during the first eight months of 2017, 35 companies failed in the UK, closing 1,194 stores and affecting 10,611 workers.

There may be many reasons for retailers closing down. However, it may be because the retailers fail to react to the opportunities and threats of the digitized world…

How fast adapting customers are on top of the world

Tech savvy retail customers have never had it better. It doesn’t matter whether they are shopping online or at their favourite Bricks and Mortar store. They can do either shopping effortlessly. In fact, retail customers can shop how and wherever they want in the omni-retail channel. The benefits for adapting retail customers in the omni-retail channel are:

  • Omni-channel retail is customer focused. It is a powerful strategy adopted by retailers for improving customer experience, says Brad Arsenault (FithQuadrant).
  • Retail customers expect the same basic brand experience across all channels. Omni-channel retail allows customers to buy from any channel.
  • The fast adapting customers feel more valued. They have a seamless journey from online to offline and is more likely to return to the brand who they feel gives them a fully personalised experience.

Retail customers in the digital world expect every retailer to offer them the greatest shopping experience they’ve ever had. If retailers can’t achieve that, they’ll probably soon close their doors (if they haven’t already done so). As result thereof, retailers should change the way they’re doing business to keep up with their fast adapting customers, or perish…

How can retailers keep up with their fast adapting customers?

Start right now to change the direction of your business, a turnaround – 180 degrees. Yes, you should get out of that box (the one you’ve been hiding in for decades…), and think out of the box! More importantly, you should be the revolutionary leader (or at least appoint one). Disrupt and destroy the old culture of your business. Burn your vision and mission statements. Therefore, appoint leaders that are humble, adaptable, visionary and engaged. Let go of the rest…

Then, find out what shopping experience your customers most want. And give it to them!

Concluding

Do what you have to do now! Oh, and good luck!

Read also:

  1. Success in the Digital Age Requires Extraordinary Retail Leaders
  2. How successful are Retailers in the Omnichannel?

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Bricks2Clicks

 

Voice-Activated Shopping an Effortless Customer Experience

Is voice-activated shopping the digital outcome that retailers need to offer their customers an effortless shopping experience? Or is it taking AI and machine learning a step too far?

Humans are what we are because of our ability to speak with one another, to listen what’s said, to comprehend the info and to react on what we perceive. We also like to be part of a group, to socialize. Said MacFarlane 2, (2014): “Because our evolutionary heritage provides us with genetic material open to forces and influences from the physical environment, we also require a social environment for brain development and for the acquisition of skills such as speech and written communication.”

So we learn from others and learn others by using our voices. But that is now changing. Now, after millions of years of being humans, we’re learning machines how to listen to voices, to recognize and analyze the message and then to respond in a ‘sensible’ way.

So, if you’re still able to speak, say Hallo! to voice-activated shopping. Because, according to Hailee Sosnowski’s post in DigitalCommerce, voice search is projected to account for half of online searches by 2020.

What is Voice-Activated Shopping?

Voice-activated shopping (VAS) means that a customer can use his or her natural voice to control technology whilst shopping. There is no need to touch anything and the customers can do voice-activated shopping by using their smartphones. VAS is already adopted by some retailers.

Laura Agadoni (JLL) remarked the following about voice-activated shopping: “Right now it’s being used for ordering groceries, pizza or coffee. For consumers there’s no driving to stores, logging onto a computer, or pulling out smartphones to open an app. They simply say what they want to one of the new voice activated devices coming onto the market from the likes of Google and Amazon.”

Take the example of Alexa, the AI-based personal assistant from Amazon. With Alexa in your kitchen, adding an item to your Ocado order is a breeze, says Holly Godwin (OcadoTechnology). Run out of biscuits and have a friend coming for tea? – Just tell Alexa “Alexa, ask Ocado to add biscuits”.

Alexa converts the audio stream into a command (for example, “add to trolley”) and a search term (such as “biscuits”). Alexa most probably will find exactly what you want, because Ocado has ‘trained’ Alexa to recognize the top 15,000 commonly search terms from Ocado.com.

How will Voice-Activated Shopping affect the retail market?

In today’s age of digital driven technology, it’s no shame to ask how voice-activated shopping may further disrupt the retail market. However, there is no consensus about what the opportunities or challenges of VAS are for retailers.

Opportunities using VAS (OnlyRetail.com)

  • More sales. Amazon found that sales of its Echo devices increased nine fold compared to 2015. Also, they also spend 10% more and their buying frequency went up by 6%.
  • Shopping for customers is now effortless. VAS allows householders to buy groceries just by talking to the fridge.
  • Gathering data for an omnichannel approach. Voice-enablement could be the unifying force omnichannel has been missing.
  • Investing for the future. It’s been reported that 55% of 13- to 18-year-olds use voice search every day, so clearly there is an appetite (Emma Lyons, Campaign US).
  • Speed of ordering. The ability to immediately order household essentials is the most obvious use for voice-enabled retail.

Challenges using VAS

  • “It’s still quite a new market and quite complex, so it requires advice and people will want to come talk to someone who can explain how it works, so we see it as an opportunity in that respect,” according to Grace Bowen, RetailWeek.com.
  • Tailoring search algorithms for Voice-enablement. “We know that shoppers will not go past the second or third page of a Google search result – voice will be like that on steroids” (Luke Tugby Retail Week).
  • Acceptance of VAS. Older generations may take a bit more convincing to adopt voice-activated technology.
  • Universal use of VAS in retail. A big question is whether voice recognition technology can work for all retail. What about fashion? Consumers can’t very well order a “black dress,” for example, and get exactly what they want, wonders Laura Agadoni (JJL).

Concluding

Speech has been argued to be the most natural and comfortable way to communicate 1. So it came as no surprise that it is now integrated in AI technology. So, what do commentators say about voice-activated shopping technology?

“Voice recognition technology is the next iteration of online shopping as consumers increasingly prize ways to complete chores or get the information they need easily and quickly,” Laura Agadoni (JJL).

“The convenience of voice search makes it instantly attractive to consumers, but it also introduces new complexities that retailers who want to survive the age of voice must fully understand,” Hailee Sosnowski, paid search planner, BKV (DigitalCommerce360.com).

My advice? Are your business performing as planned? If not, revisit your business’s digital marketing plan and identify the problem areas. If the most important reason why your business is losing sales is that your customers seeks VAS, then do VAS!

Read also: Artificial Intelligence – Digital Outcomes or Digital Disruptions for Retailers?

Notes:

1 Kääriä, A.  2017. Technology acceptance of voice assistants: anthropomorphism as factor, Master’s Thesis, University of Jyväskylä.

2 MacFarlane, A.E. 2014. Voice activated: exploring the effects of voices on behaviours., PhD Thesis, University of Canterbury.

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