Earlier this year, we attended the world’s most important retail conference, the NRF (National Retail Federation) 2018. We witnessed and participated in the future of retail and got an unparalleled view into how retail brands of all sizes are transforming themselves for the digital age.
Digital transformation has disrupted the retail industry as the digital customer has emerged and evolved. Let us look at how the customer journey has evolved.
In the traditional funnel metaphor, consumers start with a set of potential brands and methodically reduce that number to make a purchase:
The decision-making process is now a circular journey with four phases:
- Initial consideration
- Active evaluation, or the process of researching potential purchases
- Closure, when consumers buy brands
- Post-purchase when consumers experience them
- Understand who your customer is and what they want – Identifying the phase of the customer journey that helps you give them exactly what they are looking for. Looking at data trends help, you identify demand.
- Create target audience specific content – Once the customer journey stage and demand is identified, creating content for a specific audience in the form of blog posts, videos, guides, special offers, will help you engage with and convert your customer.
- Integrate and optimize content across multiple platforms – Enable brand recall by delivering consistent customer experience across channels.
- Measure performance – Tracking and highlighting the channels that drive revenue ties back to marketers being able to make decisions on business value delivered.