News

Report: More than a few retailers not sure what marketing channel is most successful

November 24, 2016

When it comes to identifying the most successful and viable marketing opportunities more than a third of retailers, 36 percent, can't make the determination.

That isn't good news given the increasing shopping channels coming into play, according to a new Yes Lifecycle Marketing report.

While 72 percent of retailers are operating ecommerce channels, just one third are tapping purchase data to build customer profiles and 42 percent aren’t using purchase data to make relevant recommendations on other products – missing a huge up sell and cross sell opportunity.

"In order to fully understand the customer's path to purchase, retailers know data, analysis, and insights have to be at the core of their marketing strategies. But knowing and implementing are two different things," said Michael Fisher, president of Yes Lifecycle Marketing, in a press release. "Retailers must be insights-driven businesses; and as such they need to bridge the gap between siloed channels in order to create a seamless cross-channel shopping experience. If they don't, they will not be able to identify and, more importantly, measure the impact of how their cross-channel campaigns can work together."

Key findings of the report include:

• Only 55 percent of marketers use browse history to craft relevant offers.
• Fifty-two percent of brands do not utilize display advertising or retargeting to drive traffic to their ecommerce sites.
• A mere 6 percent of surveyed retailers plan to make attribution analysis a priority in the next 12 months.