Business retailers worldwide are navigating their way through uncharted waters. They began 2020 already dealing with the ongoing shift towards eCommerce and now are struggling to reach the finish line amidst a Covid-19 pandemic-driven recession, as well as renewed physical restrictions on business activities.
Some might think a retail strategy is ill-fated, but even with all these obstacles, a look at the available data suggests that’s not true. Shopper surveys have shown that 76% of Amazon Prime members prefer to make purchases at a small, independent local retailer, even if they had to spend more.
That trend doesn’t look to be going away anytime soon. A Mastercard Pulse survey also showed that a full 75% of shoppers plan to patron local businesses aligning with their values going forward.
Reaching new audiences through eCommerce is crucial to diversify revenue. Besides, it also shows the growing importance of staying relevant in local markets. Retail entrepreneurs can use some strategies to target and bring in local shoppers.
How does data-driven marketing personalization work?
Many retailers are restricted to curbside pickup or other pandemic-limited operations. As a result, they lose a critical advantage: face-time with shoppers.
However, such a reality makes customer data collection more important than ever. First of all, data makes it possible to personalize marketing messaging, which can help build a relationship with a customer. Keeping tabs on dates important to customers like anniversaries or birthdays can help retailers craft marketing suggestions and messages that are specific and relevant, thus helping to recreate the intimacy of in-person interactions.
Furthermore, tracking local customer shopping habits can give you valuable marketing intelligence. For example, a retailer may identify the hours that a particular customer tends to shop. As a result, they can target them with an SMS marketing message to draw them into the store’s location.
What about digital Advertising geofencing?
One of the most effective ways for retailers to reach local shoppers is by making digital ad campaigns that target customers based on their geographic location. Retailers can restrict their ads to viewers to specific areas while using geofencing. That can be very useful for increasing foot traffic, as well as driving impulse purchases.
Local programmatic advertising is also very effective
Small retailers can use AI-driven programmatic advertising. It will help them to target high-value demographics in their area. Besides, it allows small retailers to use their limited advertising funds to great effect without micromanaging their campaigns. Some platforms can help small retailers unify their in-person and eCommerce marketing operations.
- Trading Instrument