marketing and sales strategy Archives - Business Intelligence

Tag: marketing and sales strategy

Redesigning Your Marketing Strategies to Suit New-Age Consumers

Marketing organizations seem to have lagged behind when compared to other sectors in terms of technological transformations and customer expectations. From the growth in popularity of online shopping channels to personalized ad campaigns for specific customer groups, consumer marketing strategies have evolved drastically over the past decade. Although the channels and technologies used by modern marketing companies have changed considerably, the manner in which tasks are approached remains more or less the same even today, and that is not a good sign. Organizations that continue to roll out large and infrequent campaigns, rely on media purchasing agencies, and are organized by geography or by product fail to take full advantage of the latest digital and advanced analytics tools. They can be used as effective marketing tools to chalk out marketing strategies that are more engaging, effective, and agile. Making use of these capabilities for effective marketing strategies require new management approaches.

Failing to have a comprehensive understanding of the target customers can result in failed marketing strategies. Request a free proposal to know how we can help your business streamline processes and build the right marketing strategies.

Building New age marketing strategies

Marketing strategiesManage internal and external partnerships

Organizations must leverage opportunities for advanced marketing strategies available today including search, social, programmatic, and content management. Internal and external teams that deliver these services must aim to function as an interconnected ecosystem. A key decision relating to marketing strategies to be made here is to figure out what needs to be handled internally and what must be outsourced to an external partner. It is advisable for the brand to handle core competencies such as strategy, while execution functions such as experimenting with new media or channels can be outsourced to external partners.

Build globally dispersed networks

Over the years, a common practice followed by brands to manage marketing strategies is by putting a global team under control of global marketing campaigns and assigning a local team to locally execute these campaigns. This could often create a clash between teams, especially with local teams thinking that the global team lacks a comprehensive understanding of their market. To combat this issue while promoting marketing strategies, a new age concept brand tribe have emerged. Brand tribes refer to an informal and globally dispersed network of marketers who come together to identify and share their best assets. Instead of the conventional top-down approach, these brand tribes have community managers who foster global collaboration, post insights, promote assets for particular markets, and discourage off-brand execution. This can also act as a way to reinforce brand standards.

Your marketing strategies proving to be ineffective? Marketing campaigns not generating the expected ROI? Tell us your business challenge and learn how our solutions can help.

Identify new growth channels

With the rising market competition, brands are under extreme pressure to identify and pursue new sources of growth that may be internal or external to the core business. Fastest growers in any industry are those that develop new products or services while maintaining their baseline capabilities. One way to achieve this is to create a dedicated new-ventures unit in the company that examines and identifies new growth opportunities for the company. Another way to do this is by partnering with start-ups that can provide a larger pool of opportunities in terms of emerging technologies and innovation.

 Building an agile operating model

Building marketing strategies to attract new age consumers have become extremely challenging. As a result, now brands are even taking inspiration from companies in other sectors to innovate their operations. The concept of agile is one such strategy that has originated from software development wherein small, self-organizing, cross-functional teams that work towards specific goals by breaking down large tasks in smaller units, assigning responsibility to team members, and constantly reviewing progress. Agile operating models can help identify profitable opportunities in real-time, rapidly deploy tests, evaluate results, and constantly reiterate.

Learn more about our solutions and how we can help you combat your key business challenges.

Opening the Door to Millennial Customers with Infiniti’s Retail Marketing Strategy Engagement

As the younger generation begins to finally get some relief from financial woes, they are likely to become extremely important for retail brands.

With the millennial group becoming the generation with more buying power in the European market, it’s becoming more important than ever for retailers to understand what makes millennials open their digital wallets. Also, with major retailers taking advantage of various avenues of digital social networking promotions, today’s marketers cannot solely rely on their brand name and traditional advertising techniques to drive sales. As such, companies are partnering with firms like Infiniti Research to leverage their expertise in formulating an efficient retail marketing strategy.

To capture the enormous purchasing power of millennials, retailers need to shift their techniques to match the preferences of younger consumers. Request a FREE proposal to know how our retail marketing strategy can help your company to formulate an efficient retail marketing strategy plan.

Business Challenge

The client, a retail company based out of Central Europe, witnessed a huge loss in their marketing spend as they solely relied on TVs and print advertising techniques to promote their product offerings. Also, these traditional sales and retail marketing strategies turned out to be costly for the company due to dynamically changing millennial customers’ needs and requirements. Furthermore, the company witnessed a huge loss in their marketing spend and this subsequently impacted their sales rate.

The client, therefore needed a partner to play a key role in helping them formulate an efficient retail marketing strategy to attract the millennial group. The company, therefore, approached Infiniti Research to leverage their expertise in formulating an efficient retail marketing strategy.

Key objectives the client aimed to achieve by leveraging Infiniti’s retail marketing strategy engagement were:

  • Build and maintain brand awareness to drive sales
  • Create targeted promotions and enhance return on investment in marketing
  • Enhance customer loyalty by consistently reinforcing brand messages

The increased access to technology has given young consumers an unprecedented degree of connectivity. For retail brands, this trend will bring both challenges and equally attractive opportunities. CONTACT US to know how our experts can help you to efficiently formulate a retail marketing strategy to capture customers’ attraction and drive sales.

Solutions Offered and Value Delivered

To help the client formulate an efficient retail marketing strategy, the experts at Infiniti Research followed a four-phased approach. The initial phase of the engagement involved analyzing the needs and purchasing platforms of millennial customers and segmenting them into various groups based upon their characteristics and needs. In the next phase of the engagement, the experts conducted an optimized multi-channel campaign and monitored the incremental sales lift. The third phase involved tracking and analyzing channels that brought maximum engagement and sales. In the last phase of the engagement, the experts formulated an effective retail marketing strategy for the client based on the insights obtained.

Infiniti’s retail marketing strategy helped the client to efficiently utilize their marketing budget and attract the millennial group through targeted marketing and promotional campaigns. This improvised the sales and further helped the client to align their business strategies to the expectations of their customer segments. In addition, with Infiniti’s retail marketing strategy, the client was able to curtail the marketing spend and reach a large pool of prospective customers. Furthermore, Infiniti’s retail marketing strategy engagement helped the company to enhance their profit margins by 27%.

Interested to gain more insights into our retail marketing strategy engagement and know their benefits for your business? Request for more information.

Retail Marketing Strategy Benefits

retail marketing strategies

Request a FREE brochure to gain more insights into our services portfolio.

Close
Infiti Logo

Hello there!

Contact us to know more about our cost-effective custom market research offerings to support efficient market penetration, new product launch, and devise strategies to monitor and outperform your competitors.

Cookie Policy

The Site uses cookies to record users' preferences in relation to the functionality of accessibility. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice