So what have we currently been buzzing about? For this week’s installment, our roundup includes why “clicks to bricks” is a staple for the best retailers, where targeting and personalization can fall short, and why your messaging matters:
- “The Best Retailers Combine Clicks to Bricks” by David S. Evans and Richard Schmalensee via Harvard Business Review
Tell us something we don’t know. With the retail industry looking for ways to save their physical store locations from shuttering, it’s not as simple as “reinventing” the way that people shop, but instead, it’s more about adapting to the way people are using technology to “search, shop, and buy.” Brick-and-mortar is still a crucial component to people’s shopping process, and Evans and Schmalensee offer insight into the way the industry must change in order to survive.
- “Chasing the wrong dream – why targeting and personalisation can never replace serendipity” by Dan Plant via The Drum
We’ve advocated for this time and time again – personalization and targeting are crucial to engaging with your consumer. However, Plant brings up the paradox of how consumers say that they both want and don’t want tailored, relevant ads. Confusing, right? That’s where serendipity comes into play. Says Plant, there’s a fine line for consumers between feeling as though they found or were delivered something spontaneously and fortuitously versus being the target of a relevant and personalized ad. Being able to do the latter while making it seem serendipitous is the sweet spot marketers should try to achieve.
- “Geo-Conquesting: It’s Not Just ‘Who, Where & How Often,’ but ‘What to Say’” by Megan Krueger via Gravy
This one’s from one of our partners – Gravy – and Krueger brings up a good point: messaging can be ineffective if not utilizing and understanding context. Now that technology has advanced to understand consumers better, retailers should be taking it a step further by applying their knowledge of what Krueger dubs “Location-based Lifestyle Context”, or, in other words, the things that make people people – their interests, the activities they attend, etc. – and the things that will ultimately make people more receptive to your message.