We had a great time sponsoring the WWD Digital Forum in NYC last year, and were equally excited to sponsor the WWD Digital Forum in LA, which took place yesterday (actually more excited, since this time involved escaping New York's Polar Vortex).
One apparent theme in today's event was personalization and one-to-one marketing communication: How do you, the e-commerce marketer, connect with your customer in a more relevant, personalized way, across all marketing touchpoints? How can social media be leveraged to create meaningful (and profitable) conversations with current and future buyers?
Here's what some leading retail brands had to say:
Aaron Carpenter, VP of Global Marketing at North Face, discussed how North Face utilizes a loyalty program that rewards its customers not only for making purchases, but also for engaging with the brand on social media. Their goal is to inspire their customers to explore, and share their experiences to inspire others. With mobile already driving 40% of their sales and traffic, e-commerce is the cornerstone of North Face's five year growth plan.
Matt Hiscock, Senior Vice President, ASOS US discussed how ASOS incorporates social media as part of the customer’s natural lifecycle. They embrace the path that customers take from browse to buy to share (and finally resell). Their digital experience is designed to highlight how customers are wearing and sharing, and encourage customers to share experiences. The challenge for them is predicting what customers will want to share and which products will go viral.
Chris Murphy, Director, Brand Communications & Digital Marketing, Adidas US, talked about how Adidas employs social media in an authentic, grassroots way. They produce content that customers want to share (like engaging images of high school sports teams they support, and the local stars). They have found it challenging to measure social media ROI: The brand teams focus on ROR (Return on Relationship), but the e-commerce team is thinking about real ROI of online efforts, including social media. For example, they might ask themselves what is the value of a new customer who finds you on Instagram - not just how many shares and likes you get.
Paul Friedland, Director, Marketing at Levi Strauss & Co., emphasized the importance of knowing your customers - and being creative about achieving this goal: Talk to your customers, design content for them, and make things relevant. While the preferred medium to reach consumers continues to change, the tactics are still very similar, and so is the overarching goal: Make your communication relevant.
All retailers underscored the importance of tailoring communications to individual customers, that is magnified by the growth of the millennial generation. Millennials (ages 14 - 33) are on pace to outspend baby boomers in 3 years. They contribute over $200 billion in direct annual spend to the US economy, and they are everywhere online. Tapping into this growing segment of shoppers is all about finding great new millennials and investing in meaningful relationships with them.
Custora's Take and How We Can Help
Custora provides a customer-centric marketing platform that helps e-commerce teams make customer acquisition and retention programs more profitable. Custora’s software uses advanced statistical models to identify distinct customer segments and predict how customers will behave in the future. This enables e-commerce companies to deliver more relevant and effective communications that promote long-term customer relationships. Custora is proud to work with some of the world’s leading e-commerce retailers, including LivingSocial, Etsy, Fab, Bonobos, Revolve Clothing, and One Kings Lane.
If you’re interested in learning more about Custora, you can request a demo here. If you’d like to learn more about e-commerce analytics, check out our free, quick (promise!), online courses on Custora U.