This is a reprint from a piece I did in Mobile Commerce Daily on December 27, 2012. I figure it can’t hurt to re-post the abstract here, but head over to Mobile Commerce Daily for the full text.
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With more than 114 million U.S. consumers using smartphones as of July 2012, and retail being one of the fastest-growing sectors in mobile, smart devices are quickly opening new revenue channels for retailers.
However, although most retailers understand the importance of mobile and have started investigating ways to engage their customers, many have not used the medium to its full potential. This shift provides significant opportunities for retailers to drive revenue, but it requires a proactive rather than a reactive approach.
A retailer’s investment in its mobile application should return direct results by generating revenue. Based on my experience helping dozens of retailers implement mobile solutions, here are three specific ways retailers drive revenue in this brave new shopping world.
Go Big Data to deliver better customer experiences
Mobile apps hold vast amounts of real-time data. With mobile app analytics, retailers have access to customer behavior, giving them the ability to know and understand their customer better than ever, while creating the means to deliver a customized experience. Here are some specific ways to deliver better customer experiences:
• Customize communications: Communications can be timed to best meet a customer’s schedule and the content can be tailored to the user. Is the user more interested in a deal on jeans or a new store location close to her house?
• Influence purchase decisions in-store: App data on coupon usage or shopping habits can be used to offer in-store details or upsell the customer on specific items.
• Cater and streamline business: Retailers now have access to data on a customer’s reaction to their offerings, in the form of reviews and ratings. This data will allow retailers to be more agile, collect feedback quicker and cater their offerings to their customers’ wants.
Intelligent targeting: Use smarter push notifications
In today’s connected and mobile-driven world, traditional advertising alone is no longer sufficient to drive revenue. With the penetration of smartphones, retailers need to take advantage of the opportunity to connect with customers anywhere at any time.
Using push notifications, retailers can….
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Head over to Mobile Commerce Daily for the full text.