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Top 3 tips to improve retail engagement online
While the mobile commerce tipping point is still far in the distance, one expert suggests that while that tipping point isn't here it is still possible for brands to tap into consumers' changing buying habits to improve revenue.
Kristina: Last year buzz began to increase about subscription models for retailers; what are you seeing in that area now?
Craig Vodnik, cleverbridge co-founder: Everybody and their brother is trying to invent ways to implement a subscription model. What we are likely to see soon is that there will be pushback from consumers about paying for things that were previously one-time, but retailers will find value added products/services that are justified to be billed as subscription products so the wave will continue to move forward. The most likely winner in the digital space is usage based subscription billing. This is much more free-market in that consumers only pay for what they use. Consumers could pay more or less than in the traditional all-you-can eat models.
Kristina: What are your top 3 tips for brands to increase engagement and revenue through the first half of 2014?
Craig: 1. Be real - with social media, the consumer is more in control than before to influence others about how good or bad a product/brand is so being real about your product is critical.
2. Experiment - Try innovative things to get the attention of your customers in places where they may be hanging out already. Did you know that YouTube is the second most used search engine? There is an untapped market of consumers that are influenced by YouTube and brands need to be on board.
3. Invest in talent - I am surprised how frequently I see companies want their revenue to rise today, but they have an unrealistic plan for achieving such growth because those companies aren't thinking ahead to when they not only need an employee on staff, but also trained.
You can read part one of my chat with Craig and cleverbridge, including trends to watch in 2014, here.
Image via Shutterstock
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