COVID-19, as a pandemic, left the world with the worst, and it continues to do so in 2021 as well. With positive cases reported across the globe, the governments are looking forward to a complete or partial lockdown to suppress the spread of new variants. Not a single industry is pandemic proof, and everyone is eyeing digital opportunities, but space is already crowded. Creating an awesome omnichannel retail experience is the only way out!?
So as a business, how to adapt and make a technological shift with confidence? Pandemic or not, consumer behavior and interests have changed. Now users are more cautious about spending their money than ever before. From affordability to choices, everything has changed. How to track the pulse of the customers that are getting seriously affected by the pandemic and post-pandemic situations?
Below are a few critical points gathered from top business research guides.
Accelerate as per the trend:
Things that are expected to happen decades later have accelerated and been accomplished within a couple of days, with lockdowns imposed across all nations. Hence, what we have planned for the future needs to be implemented right now. Going digital is a basic necessity, and omnipresence is a must to grab the users’ attention. So it’s high time that as a business owner, you should focus on lean methodology and get things done on the fly.
Be omnichannel :
How, where, and what consumers purchase really matters. With the increase in ecommerce sales, telemedicine, work from home opportunities, users tend to spend more money on necessities and basics than fashion and travel. With the majority of time spent at home – household products and hygiene kits have seen a steep peak in sales. The attention now should shift towards changing consumer habits and what they are looking for. This is possible with omnichannel retail experience using user behavior tracking to find what they are searching, researching, buying, including their basket size, and offering usage. Thus there is a need for creating new user personas and segments around their interests and retarget to increase the cart value with competitive pricing and personalization.
Sell great experiences:
Users are more conscious now when it comes to buying something online. Thus grab the attention of the users and create excellent first impressions. Try unique approaches to engage, retain and convert users. For example, try gamification tactics like minigames, weekly contests to generate some buzz around. Try to sell an experience rather than just products. Today the world expects everyone to be more generous and empathetic. Hence, add few empathy goals as well to the list.
Use videos for promoting:
Videos being the top 3 influencers for brand and product selection, most of the users are discovering new products and brands via product videos and advertisements. Thus, invest some time in creating compelling video tutorials, adverts, and images on digital platforms and social media to grab the attention of the majority of the buyers.
User segments matters:
There is no one such marketing strategy that fits all. Any business needs to segment its users and advertise/communicate segment-wise to maximize the chances of conversion. For example, below is how you can segment your users based on their behavior across different digital platforms.
Brand Lovers: Loves brands, follows them but doesn’t necessarily love shopping.
Premium shoppers: Loves to shop and takes time to research online to find the best products.
Ethical buyers: Prefers ethical and socially responsible brands.
Value buyers: Looks for the best deal and value for money
Quality lovers: Prefers quality and ready to pay for it.
Quick buyers: Spends very little time shopping.
The above-listed segments are just an example; you can make many of these based on your user behavior studies and create a unique omnichannel retail experience for every user. Brands need to ensure that their value proposition and messaging are tailored to the local context and the local distribution of consumer segments.
Building brand communities:
We all know how influential social media is in product selection and purchase decisions. This has made many retailers integrate social media communities within their apps. These platforms are gamified to reward the most active users in the community for content generation. With time the community users are proven to be most loyal compared to the regular app users.
Myntra insider and Nykaa network are examples of retailers who inserted social media into their platforms and succeeded.
Seek feedback :
No matter how many patterns you discover and insights you make out of the user’s data, seeking feedback to confirm those assumptions and insights is an excellent idea as they make users feel valued and cared for. Seek feedback, ask for improvement opportunities, what they like and dislike about your product or service.
Experiment – Execute – Evaluate:
There is nothing wrong with experimenting with caution, and for rapid growth, every business should experiment a lot with their branding and communications. Once the experiment feels like working for a small bunch of people, now it’s time to execute it for all users.
After execution is live, it’s time to precisely monitor every KPI and every segment behavioral insights to correlate the campaign’s effectiveness that the campaign manager executed.
Experimentation with mindful execution and evaluating minute details to find relative campaign success is the key for small startups emerging as unicorns within no time.
Upshot.ai is an omnichannel, user engagement, and gamification platform that helps digital product owners and marketers improve their product adoption and conversions. Fortune 1000 companies such as GE, UHG, Puma, Sony, ITC, Tenet healthcare are using Upshot.ai and observed a massive increase in product adoption YoY increment in revenues.
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Also read : Gamification strategies guide of 2021