Teavaro and Celtra team up to bring dynamic creative and data-led strategy to the implementation of interconnected retail…
The Interconnected Retail Experience
The rationale for seamless integration of the digital and physical shopping experience (interconnected retail) is quite straight forward:
- While most customers start their shopping journey online, 69% of customers prefer to buy in retail stores. [i]
- Brands in the initial consideration set are more than two times as likely to be purchased as are brands considered only later in the decision journey. [ii]
- Customers interacting with a mobile website not only have an 11% higher conversion rate in store but also an 8% higher average spend. [iii]
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A good interconnected retail experience is characterised by the following six principles:
- Customer Needs: address the requirements of the customer clearly.
- Customer Journeys: support the whole process, not just a single moment.
- Contextual Engagement make engagement dependent on time, location, intent and recent experience events.
- Personalised Engagements: make the experience relevant using insights and knowledge.
- Omnichannel Engagement: enable a seamless transition between channels and make it easy for a consumer to resume the journey.
In summary
- Be There: whenever and wherever a user is shopping.
- Be Useful: in a consumer moment of need, meet them by providing valuable information whether it is video tutorials, product reviews or the ability to purchase without friction.
Putting Interconnected Retail into Practice
In order to implement a good interconnected retail experience, in most cases some traditional practices need to change and new capabilities need to be added:
- Interactions: From predefined campaigns to next best engagements considering context and personalisation.
- Engagement: From single ads to storytelling with the right sequencing and frequencing of engagements.
- Creatives: From a single creative for all users to data-driven dynamic creatives at scale.
- Attribution: From last-click attribution to attribution models that take into account all impressions, contacts and actions throughout the customer journey.
- Metrics: From measuring conversion by channel to measuring customer engagement and total sales uplift.
- Optimisation: From post-campaign analytics generating insights for the next campaign to dynamic optimisation while engagement journeys and campaigns are executed.
But execution – especially in a mobile-first environment – often fails. According to a recent Forrester study, 55% of today’s mobile ad spend is wasted due to ineffective ads, inflated production costs and campaign delays and resulting unused budget. Even worse, 73% of ads seen by consumers elicit a negative or no emotional response. Yet mobile ad spend is predicted to grow again by 32% in 2017 reaching a staggering 143.5bn USD worldwide. But if executed well, mobile and ads perform well: Recall and purchase intent for the top 20% of ads are six times higher than those of the bottom 80%.
To be even more impactful, consumers need to be addressed with regards to their context and there to be needs a tailoring of the messaging to create contextual and personal engagement. In short, targeted, personalised or dynamic creative presents a fantastic opportunity to unlock the value of data and drive more effective marketing outcomes.
In most cases, however, the creative that is shown is typically all the same, not making use of the data to tailor the message (or offer) and make it as relevant as possible to each consumer and context.
Good execution makes all the difference. Ads for example that create a positive experience are doubling the likelihood of a consumer to visit a brick and mortar store or visiting a brand website.
Teavaro and Celtra team up at TM Forum
Teavaro and Celtra have teamed up to demonstrate the power of combining Teavaro’s FunnelConnect® Marketing Middleware Platform with Celtra’s Creative Management Platform to combine great data driven marketing and creative execution.
The pre-integrated solution:
- identifies visitors (customers & prospects) across channels and devices with integrated privacy compliant permission management,
- combines contextual, behavioral and descriptive visitor data for real-time targeting, and
- creates and shows engaging targeted and dynamic creatives at scale triggered by real time data
As part of a TM Forum Catalyst project sponsored by the Orange Group, Ncell an Asian operator (Axiata Group) and ArtOfArc, we show an end-to-end solution for an omnichannel customer journey.
Interested to find out more?
Join us at TM Forum Live Event in Nice on 15th-18th May where the solution will be showcased. If you cannot make Nice, just drop me a line (dirk@teavaro.com) and I will provide you with additional information.
[i] J.D. Power 2016 U.S. Wireless Purchase Experience Full-Service Performance StudySM—Volume 1
[ii] McKinsey Quarterly, February 2017, The new battleground for marketing led growth
[iii] Think with Google, July 2016: Shopping Micro Moments: 3 Steps to Set Your Brand Up for Success.
