13 Multichannel Marketing Tactics (of 35) to Improve E-Marketing Profitability Tomorrow
At the Retail Marketing Virtual Conference & Expo, hosted by our sister magazine Retail Online Integration, Kevin Hillstrom, president of multichannel marketing consulting firm MineThatData presented a session called The Bucket List: Technology's Impact on Catalog Marketing — 35 Strategies That Will Improve Company Profitability Tomorrow.
Hillstrom focused on what he calls "multichannel forensics," analyzing customer interactions as they buy from various channels and brands. Over the years of the study, he's been able to extract many conclusions and trends from the data, from which he assembled this bucket list. "Five years from now," Hillstrom said, "our customers are going to be very different ... I want to be able to test different strategies today so I can have my business prepared for 2015."
While Hillstrom's session focused on these strategies from a direct mail/cross-channel point of view, many of his 35 strategies contained good advice for any company engaged in e-marketing and commerce. Here are 13 of the best; for more, sign up to listen to this session and others on-demand.
Strategy No. 3: Order Starters
"Strongly consider doing an ‘order starter’ analysis," Hillstrom advised, to "identify items first entered when customers make purchases." These items cause customers to start orders, so featuring them in email or on your homepage will lift overall orders.
Strategy No. 6: Online-Only Shoppers
"Customers who purchase exclusively online are often different than customers who shop via traditional direct marketing advertising channels," said Hillstrom. He likens this segment to bank customers using an ATM: "It's like a self-service audience. The customer doesn't necessarily want assistance, and ... customers who don't necessarily want a lot of assistance often don't want to have a deep relationship with your business. They may want to buy one or two items and move on," so you don't have to spend too much marketing to them.
Related story: The Retail Marketing Virtual Conference & Expo is On Demand!