As a result of the economic crisis, retailers are more concerned than ever about the return their marketing dollars are generating. In this video from SMX West, Ryan Gibson of The Rimm-Kaufman Group explains how retailers need to understand which online and offline programs are profiting them the most and capitalize on those areas.
Offline marketing interactions with customers involve TV, radio, print, direct mail, or catalogs. Online marketing interactions include social media, content/display, search, and email. Offline conversions come by phone or by going into the store. Online conversions occur through a website or by email.
In a perfect world, all customers would either react only to online marketing methods or only to offline marketing efforts. Unfortunately for marketers and retailers, it’s not a perfect world and customers mix it up. Customers may search online, place a call to the calling center, go to the website, or go into the store before they take action. Every customer behaves differently which makes if difficult for marketers to track their online and offline marketing programs.
Ryan says marketers and retailers have to understand their customers. Observe the customer and be aware when they’re talking about you. If they are talking about you on social media sites, listen to them first and maybe even connect with them.
Do not however, forget about offline marketing efforts. Understand the customers sequence of action and which programs they are using to find you. Once you realize where your value lies, maximize those programs to their fullest potential so that you do not miss out on any profit.