Sales & Marketing Management - November/December 2008 - (Page 21) TRAVEL/MEETINGS INCENTIVES TECHNOLOGY TRAINING Keeping the holidays happy Online retailers can still lure in skittish consumers W ith the economy suffering, there’s no way to spin the fact times are tough. But hitting the “panic button” is not a solution, as serious matters are never properly solved through reactive measures. In the case of online marketing professionals, it is essential they remain proactive in their strategies to gain and retain customers. Retailers need to take a pragmatic approach and make sensible business decisions that encompass cost savings, while continuing to invest for the future. Rather than falling back to a knee-jerk With the holidays on the horizon, retailers must take the time now to explore ways to attract, retain and maximize visits from customers. and ultimately counterproductive reaction such as across-the-board cost-cutting, companies would be better off utilizing this time as an opportunity to explore new business models and methodologies. History has shown us that loss of faith in the economy and inertia amplifies downturns into market crashes. Fear tends to lead to paralysis, and the last thing marketing professionals need is to be further handcuffed due to external circumstances. It is essential that retailers continue to develop their online entities with a critical eye toward mitigating www.salesandmarketingmanagement.com costs and investing for the future. This is not an impossible task. Finding the right solutions at the right price is the key. Fortunately for marketers looking to increase order values of online purchases, the answer can be very simple. A social behavioral merchandizing platform designed to cater to each shopper’s needs is an affordable investment that will assist during this down time, while providing a framework for future success. Deployment of this kind of technology does not require a capital investment. Working with a vendor built on a performance-based business model ensures that only the uplift in sales directly affected by the system is counted for share fees. While purse strings may tighten, consumers are unlikely to stop spending entirely. With the holidays on the horizon, retailers must take the time now to explore ways to attract, retain and maximize customer visits. What do customers want? Shoppers today want what they have always wanted: convenience, affordable prices and products that fit their tastes. Yesteryear’s multi-channel landscape is cluttered with “big box” and discount stores, online sites and so on. The Internet has changed the face of shopping forever and will play an enormous role in the rebounding of the retail industry. With consumers flocking to the Web to comparison shop and read consumer reviews, eCommerce sites must be adequately prepared to meet these needs. More importantly, retailers must be prepared to convert these browsers into buyers. Rolf Elmér, Ph.D., is CEO of Avail Intelligence. He previously served as CEO of Carl Bro Energy and managing director of Sigma Exallon AB, in addition to several years as a management consultant at Accenture. istock photo; composite illustration by Beth Meyers NOVEMBER/DECEMBER 2008 SALES &MARKETING MANAGEMENT 21 http://www.salesandmarketingmanagement.com
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