Webinar Highlights How To Succeed With Customer Loyalty Programs And Overcome SoMoLo Challenges

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Empowered_ConsumerMany of today’s marketers rely on loyalty programs to improve customer relationships and experiences. In fact, a majority of loyalty program marketers use this tool to manage customer retention and increase revenue, according to a survey conducted by Kobie Marketing.

During a recent Loyalty 360 webinar titled: “Omnichannel Loyalty: Maximizing Your Customers Experience,” industry professionals discussed survey results, trends impacting loyalty programs, and best practices in overcoming challenges from the social, mobile and local (SoMoLo) revolution.

In a Kobie Marketing white paper, titled: “Omnichannel Loyalty: Designing The Ultimate Customer Experience” ― which was based on survey results ― more than half (58%) of loyalty program marketers stated that customer retention drives their loyalty efforts.  Approximately 48% of respondents pointed to revenue as a key consideration. “Not surprisingly, in a continually down or recovering economy, marketers focus on loyalty as a retention strategy,” said Emily Murphy, Customer Intelligence Analyst at Forrester Research. “This directly drives profitability and revenue, and improves engagement.”

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The NRF Integrated Mobile Initiative, Other Industry Partnerships, Help Guide The Future of Mobile Retailing

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J. C. Penney
 and Starbucks are among the countless retailers announcing plans for, or currently moving to, a mobile payment initiative. Advancements in Near Field Communication (NFC) and mobile wallets are moving quickly: Many such developments were spotlighted recently in a Retail TouchPoints feature, and have accelerated even since then.

To keep pace with these advancements, a number of organizations ― including mobile carriers, payment providers and retailers ― are forming partnerships to increase education and acceptance of mobile retailing and payment.

The National Retail Federation (NRF) announced the inception of the Integrated Mobile Initiative (IMI), which was developed to “serve as the single source for information about the challenges and opportunities that exist within mobile retailing,” according to an NRF press release.

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TouchPoints TV: Dominique Schurman, Papyrus

 

Dominique Schurman, Papyrus

Papyrus has successfully stood out in the competitive greeting card market by creating a compelling in-store experience. With locations featuring a plethora of card styles and gifts for all occasions, Papyrus also amps up brick-and-mortar stores by including personalized wrapping stations and do-it-yourself card and stationary design areas. During this episode of TouchPoints TV, Dominique Schurman, CEO of Papyrus, explains how the retailer is using digital mediums, such as social media, to educate shoppers on the unique features of Papyrus stores. Additionally, Schurman shares how the retailer hit a new milestone by partnering with “Project Runway” finalist Rami Kashou on a series of wearable paper gowns.

Episode Notes:

Godiva Improves Average Order Value 15% With Product Image Testing

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Best-in-class retailers are testing and applying new strategies to better engage online consumers. The e-Commerce site in particular presents retailers with an opportunity to customize messaging and offers based on visitors’ browsing and buying histories, as well as geographic locations.

Godiva Chocolatier optimized e-Commerce personalization with the Agility Suite from Monetate, designed to allow retailers to test personalized content, images and offers more quickly and seamlessly. The retailer is recognizing an array of benefits, including a 15% boost in Average Order Value (AOV) and an 18% increase in conversion rates as a result of leveraging multiple images on product pages.

Because Godiva is such a sensory brand, photography is critical to creating a compelling experience for shoppers, Mahender Nathan, VP of Direct for Godiva told Retail TouchPoints. To ensure the best investment, the internal team for the brand conducted A/B testing through Monetate to determine the overall value of providing alternate images on inventory pages.
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6 Strategies To Ensure Your Wireless Network Delivers Enhanced Experiences

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moto_a2_wp_drc_templateWith the rapid pace of technology change and the increased number of requests from their business customers, technology professionals in the retail industry often struggle to identify which solutions they need to prepare for over the next 3-5 years. They’re also searching for the technology that will meet the advanced requirements for leveraging their wireless networks for maximum benefit.

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7 Retailers Win Store Operations Superstar Awards

 
As competition continues to heat among store operators, merchants must find innovative, creative and efficient ways to improve customer engagement and improve long-term loyalty. Along with pressure to hold the line on expenses, store operations executives are faced with an uphill battle.

Additionally, advances in mobile and tablet technology have created the opportunity to hire, train and retain employees more efficiently.

In its first Store Operations Superstar Awards, Retail TouchPoints is recognizing 7 companies that have implemented the most innovative, successful store operations strategies in 4 categories.

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App Happy [Infographic]

 
Most small business owners (78%) are using service and solution mobile apps to become more efficient in running their businesses. More than half (51%) said mobile apps have helped them become more competitive and better able to maneuver through the uncertain economic period. Collectively, small businesses could save 3.78 million hours using mobile apps, according to a recent survey from the Small Business & Entrepreneurship (SBE) Council. This infographic highlights the types of mobile apps used by small businesses as well as the estimated time saved for owners and employees.

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Automation: The Key to E-Commerce Fulfillment

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B_LeberDuring the current and sometimes seemingly endless recession, many brick and mortar stores have struggled. Online businesses, on the other hand, have continued to expand and been a bright spot, if not the only one. According to Datamonitor’s Global Online Retail 2011, the global online retail sector had total revenues of $434.6 billion (USD) in 2010, representing a compound annual growth rate (CAGR) of 16.3% for 2006 to 2010. In the year 2010 the growth rate was 17.8%.

Signs of Growth

E-commerce growth also is spanning all retail sectors which is more good news. Datamonitor reports that electronics sales proved the most lucrative for the global online retail market in 2010, with total revenues of $102.4 billion, equivalent to 23.6% of all online purchases.

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Small Retailers Continue To Outperform National And Regional Chains

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cc_termainl_swipeGrowth at small retailers slowed to 6.0% year-over-year in July 2012, still outperforming national and regional chains on a year-to-date basis, but showing the weakest growth in the past 12 months. MasterCard Advisors, in partnership with Wells Fargo, shared this macroeconomic indicator in the MasterCard SpendingPulse report on small businesses, released August 14, 2012.

 “While this is a notable slowdown in the [small business] category’s year-over-year growth, from prior months and from the first quarter’s very robust 9.1% growth,” stated Michael McNamara, Global Solutions Leader, MasterCard SpendingPulse, “we’re still seeing small retailers outperforming total U.S. retail.”  

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ProofHQ Improves Content Workflows And Approval Processes For Optimal Cross-Channel Marketing

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proofhq_cap2The rise of online browsing and buying has increased the demand for more content across digital channels. Now more than ever, social accounts, e-Commerce sites and mobile-optimized pages and apps are joining traditional print ads, catalogs and brochures in the retail marketing mix.

ProofHQ, an online proofing solution, was designed to help retailers speed internal editing and approval processes throughout content development, allowing marketing materials to be delivered and finalized in a more seamless and time efficient manner. The platform replaces the daunting and time-consuming method of emailing PDFs to team members, printing hard-copy versions and manually routing proofs to garner feedback.

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