An everyday low price strategy can be a winner, but this comes with an asterisk. Such a self-limiting strategy can only work for a specific type of company and it requires a certain approach. And with COVID-19 disrupting any normalcy in retail, we need to examine whether companies embracing EDLP are faring better or worse right now.
How should brands be managing their messaging at this sensitive time, expressing empathy without overdoing it?
Deb Gabor, CEO of brand strategy consultancy Sol Marketing, has led brand and crisis strategy engagements for Dell, Microsoft, HomeAway and others. She discusses brand messaging do’s and don’t’s in the days of COVID-19.
Twenty first century loyalty – the degree to which a brand meets customer expectations for their Ideal in a product category – is a KPI that changes before the brand’s economic structure begins to improve or decline. It’s an early warning signal that your brand may be in trouble. And J. Crew’s recent Chapter 11 filing is a prime example.
Software company Remesh, whose platform uses artificial intelligence to create real-time market research, has raised $25 million in new funding to support expanded product offerings and growth. Founded in 2014, Remesh has raised more than $38 million to fuel its growth in the $71 billion market research industry.
If you’re looking for a strategy to get ahead in customer acquisition, machine learning can be your secret weapon. True AI can think for itself, while ML can automate tasks and apply predictive analytics that drive meaningful growth. ML is the AI focal point for your CRM tool and can be the key to boosting customer acquisition.
Callaway partnered with Groove Jones to create an augmented reality experience at 1,200 retail locations including Dick’s Sporting Goods, PGA Tour Superstore and Worldwide Golf. Pete Avery, director of retail marketing for Callaway, explains how the augmented reality campaign works in this MCM CommerceChat podcast.
There was a time when company-centric content was all you needed for success. But those days are far behind us. Modern consumers are subject to so many sales pitches that most ads are like white noise. But if not through ads, how can you get your brand’s message out there? Simply put, talk to them in a way they will find compelling.
As consumers gain power over their information, the rules are changing. But that doesn’t mean businesses can go back to marketing blindly, ignoring one-to-one relationship building. Data still drives relationships, but permission will be required, unlike the invisible site cookies of the past. Here are some tools for navigating the new reality.