The Times Australia
Small Business News

.

Leveraging data & insights to drive deeper customer connections and efficiencies in the new retail landscape

  • Written by Leah Pope, CMO of Datorama, A Salesforce Company


The retail industry is undergoing tremendous transformation driven by the impacts of the COVID-19 pandemic. Social distancing regulations and mandatory closure of physical stores have resulted in the rapid proliferation of e-commerce. The volume of online purchases has skyrocketed since the lockdown laws have been implemented–Australia Post saw a 90 per cent increase in parcel volumes compared to last year. As a result, retail marketers have the opportunity to engage customers in new ways and provide them with more relevant and helpful experiences, at a time when purchasing behaviors are constantly evolving.

Marketing budgets are also in flux and resources are limited, as businesses adjust to the shifting landscape. Marketers need to ensure they are being efficient and effective across all of their investments and are agile in their decision-making in order to reach short-term goals and plan for long-term growth.

Connecting and analyzing your marketing data for deeper insight at scale is the key to driving connections with customers across their omni-channel journey and optimizing the full marketing budget.

Data opens up the door, but making it intelligent and actionable is still a challenge

More than ever, marketers are changing the way they interact with customers and are using a multitude of online platforms and channels to reach them throughout their purchasing journey. This results in a high volume of data from a multitude of different sources. With so much data, marketers have the potential to create highly personalised and relevant experiences for their customers.

However, over half (55 per cent) of retailers struggle to establish relationships with customers due to their inability to turn data into actionable insights, and disparate systems and data sources within the company. Without a holistic view of their marketing data, retail marketers risk wasting ad dollars on ineffective campaigns that are missing the mark and losing customers who feel that messages are disjointed and inauthentic.

Real-time insights allow marketers to be agile and create exceptional campaigns

At a time where the retail industry is ramping up their digital operations, marketers need to transform their messages and customer experiences to fit new strategies. For example, Australian retailer, THE ICONIC, which has the largest online fashion fulfilment centre in Australia, recently had to pivot its marketing strategies to reflect the altered needs of customers. During lockdown, loungewear sales increased by 156 per cent and sleepwear was up 193 per cent, while spending in popular categories such as work and formal wear plummeted. This prompted the retailer to alter their marketing to promote a new #stayhome section of products in order to reflect new preferences of customers who weren’t invested in fashion for the time being.

84% of customers say that the experience a company provides is as important as its products and services — up from 80% in 2018. With retail marketers pivoting strategies to account for change, using data and real-time insights allows them to test and understand the impact of their messages and content, ensuring they are delivering personalised, optimised customer experiences through the right channels, at the right time, throughout the entire customer journey.

Especially during times where customer behaviors and preferences are so dynamic, it is critical to also have an understanding of brand sentiment. Social listening platforms can provide an overview of customer feedback while providing a sentiment analysis to guide campaigns that resonate. But social listening is just one aspect of overall brand health–marketers need to connect their social data with other media performance in order to gain a holistic view of brand health and better inform their strategy.

Marketing intelligence enables marketers to navigate new shopping behaviors and business priorities

A measurement strategy founded in marketing intelligence is the key to effectively navigating the unique and quickly evolving retail landscape through a single system of record for all of fragmented marketing data sources.

Marketing intelligence platforms help automate manual, time-intensive, and error-prone data management processes, giving retail marketers back the time to focus on operational efficiencies and business objectives. A transparent view of all marketing activities also means achieving greater effectiveness across the marketing budget.

Cross-platform and cross-channel analytics, instant and data visualisation, and intelligent recommendations can help optimise campaigns on the fly. With access to real-time data, retailers can use the insights to reshape their campaigns to immediately resonate with customers. The ways retail marketers connect with their customers in times of uncertainty will not only drive business resilience and short term sales, but also form lasting customer relationships long into the future.

Property Times

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial intricacies of real estate demand more than just basic bookkeeping. A si...

Duke of Dural to Get Rooftop Bar as New Owners Invest in Venue Upgrade

The Duke of Dural, in Sydney’s north-west, is set for a major uplift under new ownership, following its acquisition by hospitality group Good Beer Company this week. Led by respected private hotelier John Azar, the Good Beer Company has a proven t...

Top Tips for Finding the Ideal Block to Build Your Home

There’s something deeply personal and exciting about building your own home. You’re not just choosing paint colours or furniture, you’re creating a space that reflects your lifestyle, your dreams, and your future. However, before you start sketchin...

Food & Dining

West HQ is bringing in a season of culinary celebration this July

Western Sydney’s leading entertainment and lifestyle precinct is bringing the fire this July and not just in the kitchen. From $29 lobster feasts and award-winning Asian banquets to Sydney’s first-ever Acquapole fitness classes and family fun gal...

Onsite Caterer vs a Full Service Venue: 9 important things to explore

Choosing between an external catering company and an all-inclusive venue is a major decision that affects cost, flexibility, food quality, and the overall event experience. Venues with in-house catering offer convenience and streamlined coordinatio...

Meal Prep as Self-Care? The One Small Habit That Could Improve Your Mood, Focus & Confidence

What if the secret to feeling calmer, more focused, and emotionally resilient wasn’t found in a supplement or self-help book — but in your fridge? That’s the surprising link uncovered by leading dietitians Anna Debenham and Alex Parker from The Biti...

Cult Favourite, TokyoTaco, Opens Beachfront at Mooloolaba this June

FREE Tokyo Tacos to Celebrate!  Cult favourite Japanese-Mexican restaurant TokyoTaco is opening a beachfront venue at the Mooloolaba Esplanade on Queensland’s Sunshine Coast this June.  The doors of the new venue will open on 18 June and to cel...

Business Times

Understanding Energy Use Patterns by Season

Australia’s climate changes noticeably across the year. These seasonal changes don’t just affect what we wear or how we trave...

How Businesses Turn Data into Actionable Insights

In today's digital landscape, businesses are drowning in data yet thirsting for meaningful direction. The challenge isn't...

Ricoh Launches IM C401F A4 Colour MFP to Boost Speed and Security…

Ricoh, a leading provider of smart workplace technology, today launched the RICOH IM C401F, an enterprise-grade A4 colour d...

The Times Features

How to Choose a Cosmetic Clinic That Aligns With Your Aesthetic Goals

Clinics that align with your goals prioritise subtlety, safety, and client input Strong results come from experience, not trends or treatment bundles A proper consultation fe...

7 Non-Invasive Options That Can Subtly Enhance Your Features

Non-invasive treatments can refresh your appearance with minimal downtime Options range from anti-wrinkle treatments to advanced skin therapies Many results appear gradually ...

What is creatine? What does the science say about its claims to build muscle and boost brain health?

If you’ve walked down the wellness aisle at your local supermarket recently, or scrolled the latest wellness trends on social media, you’ve likely heard about creatine. Creati...

Whole House Water Filters: Essential or Optional for Australian Homes?

Access to clean, safe water is something most Australians take for granted—but the reality can be more complex. Our country’s unique climate, frequent droughts, and occasional ...

How Businesses Turn Data into Actionable Insights

In today's digital landscape, businesses are drowning in data yet thirsting for meaningful direction. The challenge isn't collecting information—it's knowing how to turn data i...

Why Mobile Allied Therapy Services Are Essential in Post-Hospital Recovery

Mobile allied health services matter more than ever under recent NDIA travel funding cuts. A quiet but critical shift is unfolding in Australia’s healthcare landscape. Mobile all...