Warning sign on the horizon: Consumer products executives see a decline in brand loyalty coming, according to recent research reported on by eMarketer. They also believe an increase in online shopping will cause a major disruption in the marketplace.
The leading marketing tactics they plan to use in response to such challenges include creating more personalized customer experiences, increasing mobile and online advertising, and focusing more on social media.
Personalization is key but it is not always easy to implement. According to eMarketer senior analyst Yoram Wurmser, “Although most organizations know that personalization is important, there are a lot of structural impediments that make it hard to do for many companies. The challenge of personalization is that it requires really great integration of customer data across marketing databases and customer relationship management systems. This enterprise-level integration is still pretty rare, and it’s expensive. And even beyond that, a lot of companies are still organized around channels, which can impede full integration.”
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