Changing consumer behaviour and the growing demands for data-driven retail management enable global enterprises to digitally transform themselves like never before. There are about 2.5 million e-commerce retailers in the US alone, according to Etailinsights, and many largescale retail storefronts are banking on digital reach and capabilities to drive footfalls & revenue. To compete more efficiently, retailers are also expected to be advanced & agile in marketing operations and technology.
Hybrid Marketing Approach
Hybrid marketing strategies that effectively leverage both in-house marketing and outsourced teams can be a game-changer for retailers. In-house teams will work towards long-term goals like brand positioning & reputation, market diversification, etc. The outsourced marketing teams will primarily take care of operational marketing activities like online demand generation, localized outreach campaigns, content creation, and more. By keeping these teams intact and aligned towards the singular vision of the brand, the retailers can achieve thumping business outcomes for real.
Data & Technology Challenges
Consumers are becoming increasingly adept at avoiding marketing notifications and being aware of their privacy, leaving retailers access to minimal insights. Today, marketers adopt multi-touch campaign models to gather better data and deliver data-driven personalization with customized messaging to the targeted customers at the right time on the right channel. Measuring the impact of these campaigns, gathering customer segmentation data and arriving at actionable insights are among the most complex challenges most organizations deal with today.
Overcoming Marketing Challenges with SRM Tech’s Offerings
As a prodigious digital enabler for many enterprises across industries, SRMTech is pursuing value creation for retailers with its advanced digital practices. SRM Tech offers comprehensive Digital Marketing Operations and MarTech Solutions to help retailers achieve competitive advantage and define the industry benchmarks.
1.Omnichannel Customer Engagement
In the digital era, consumers interact with brands through multiple channels. This usually makes it difficult for the brands to have a single voice, align with the customers, & deliver a personalized user experience. SRM Tech’s Omnichannel Customer Engagement services synchronize multiple channels simultaneously into a single journey with right-fit CRM and MarTech tools and manage the consumer lifecycle successfully enough to offer a contextual experience each time.
We gather significant consumer behaviour data and use them to nurture audiences in every step of their buyer journey. We also plan for and execute high-performing remarketing campaigns by managing, optimizing and automating the consumer lifecycle engagement at its best.
Retailers have traditional demand prediction in place to forecast the sales of existing products based on historical data. We help retailers by doing more than that by predicting the demand for new products, markets and opportunities with the help of advanced AI platforms.
We turn sophisticated data science solutions into actions by using multi-dimensional data such as buyer attributes, demographic information, trend analysis, and other leading indicators of demand. We also boost their organic reach to the next level by implementing Predictive SEO practices for better keyword planning that harness historical search data and trend analytics. Our expertise can position the retailers ahead of the pack by having the demand intelligence to manage inventory efficiently, prepare for scale, plan promotions and price modelling, among others.
3.Visual Search Engine Optimization
Retailers are constantly looking to adopt innovative solutions that enhance customer experience. The way consumers search for products or information has evolved significantly over the last few decades and continues to do so. Visual search is a recent adoption in shopping trends, where consumers search for a product by just uploading or scanning via their smart devices. Reports say that it’s the ideal option for 39% of apparel consumers.
E-retailers who widely incorporate this visual search engine often fail to deliver an enhanced visual experience to their consumers. SRM Tech has developed an AI-powered Dataset Creation Tool to train a background remover tool for image analysis, detecting target objects, and editing at scale. This platform can enhance the retailer’s visual search success rate to 90%, while 60 to 70% is the industry average. We also use existing AI photo editing tools and build custom ones for e-commerce platforms to elevate the visual product experience.
4.Automated Processes with Human Touch
The deployment of various AI-based MarTech tools and next-generation platforms helps streamline processes, personalize the customer experience and automate campaigns for better performance. However, we believe that a certain level of human intervention by content, campaign and data experts at different stages and touchpoints is critical to orchestrating the overall marketing operations and delivering value.
5.One-stop Marketing Solutions
The bottom-level requirements such as Search Engine Optimization, Social Media Marketing, Video and Content Marketing, Digital Advertising, CRM and Influencer Management are all covered by SRM’s team of experts to produce better results.
The pandemic has brought notable changes across the retail industry, potentially changing how customers digitally shop or search for products. Retail marketers are expected to constantly adapt to these changes and the resulting trends in the future if they want to hold a competitive edge in the changing marketplaces. And to do so, it’s crucial to have the right tools, expertise, partners and processes in place for your business.
SRM Tech – The one-stop growth partner who can own and execute day-to-day marketing operations and other digital solutions for retailers. Our marketing approach and technology expertise is sure to amplify the business growth and add more value to the end consumers.
Reach out to us to discuss the roadmap for your digital retail success.