mikefarrar@fico.com

You Thought You Were In Charge? Guess Again

Blog Post created by mikefarrar@fico.com on Jul 3, 2014

A recent study caught my eye about "digital hypertaskers." Despite the giddy name, the point it tries to make is that the retail battle can't be fought over price. That's been fought. It's over. Win, lose, or anywhere in-between, price transparency is here to stay. Anyone can check prices online from PC, tablet, or smartphone instantly and conveniently.

 

Neither can it be fought over making oneself available in multiple channels. Every retailer tweets. Everyone emails. What retailer doesn't Facebook? Websites have been around for decades.

 

This time it's going to be fought over how well you let the customer market to herself.

 

The study claims that 24% of consumers are shopping all the time through multiple channels, and most important, co-creating their own experiences with the brand. In other words, retailers are putting the experiential tools out there, and the consumers are constructing their own personalized experiences out of them.

 

http://www.destinationcrm.com/articles/CRM-News/CRM-Featured-News/Twenty-Four-Percent-of-Consumers-Are-Digital-Hypertask…

 

This is the promise of 1:1 integrated marketing turned sideways. This isn't just slapping the same piece of creative on every piece you send out, nor is it a coordinated multimedia campaign spread out with a series of strategic media buys.

 

This is making the the lunatics step back and stop trying to run the asylum all by themselves.

 

It's a whole new battle. Who can coordinate their experiential toolset the best? What actually makes for the best brand-relevant experience across all channels? How can you even predict what it will be?

 

I especially see threats and opportunities for marketing analytics and how it's always been done. More on that later. Stay tuned...

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