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Life Cycle and the new WWW in Retail Marketing

 

If you haven’t noticed, your customer is more empowered than ever by information to make decisions. The amount of information made available by the supercomputer that lives in our jacket pockets (read: smartphone) is mind boggling, and yet made simple by shopping comparison, and location-based apps that allow us the convenience of single taps of a thumb to research, order, review and reorder product on demand.

The new WWW

The world of convenience has opened to us. 2 Day, then 24 hour, then same day shipping have become ready realities in ecommerce. But you know all this already, because you’ve likely just ordered some toilet roll on two-hour delivery from your local Amazon fulfillment center. No longer just the web, WWW has grown to mean what it has implied for years:

What I want, when I want, where I want it

This ‘convenience on demand’ has some scary implications for retailers who are behind the technology curve – if we aren’t anticipating our customer’s needs and standing ready to answer to them, we’re undoubtedly losing market share to competitors who are.

Are you subscribed to your customer’s behaviors?

Savvy marketers are well aware of the decision tree taken by their prospective customers. The intersection of wants, needs and circumstances which precede a purchase are well known, but which part of your communication touch points are you automating to be in front of your customer when they raise their hand?

Target is famous for their predictive analyses of purchase habits, but it’s not necessary to go all George Orwell on your customers to reach these kinds of takeaways. Your customers exhibit purchase behavior all the time. Are you responding to them?

Programming the life cycle

The gist of lifecycle marketing lies in one basic premise, injecting a little inelasticity into the economy of our customers. By providing some small impetus ahead of an expected behavior, we encourage the necessary step to bring a prospect back into the fold. But timing, as they say, is everything. Pushy can become desperate; desperate can become unsubscribed.

In short, the technology, processes and capabilities are all available for you to make your customer’s life (and yours) a lot easier. Is your brand ready for the new WWW?