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Can Your Retail Marketing Strategy Be Measured?
The retail industry is changing rapidly. And there’s no shortage of retail alarmism across the industry and media – technological innovations are altering the way that consumers shop and experience brands, while brands struggle to pivot the way they plan and execute their interactions with those consumers. New brands are rising and old brands are falling on their ability to keep up with these changes and create meaningful experiences.
Retailers small and large are evolving their marketing strategies to meet these demands. But when everything is said and done, how do marketers determine whether they’ve actually executed that strategy and, ultimately, whether or not it performed?
In many companies, marketing strategy takes the form of unstructured data. The elements of your strategy are likely qualitative directives or attributes of your content, campaigns, products, or promotions that while compelling on paper (or PowerPoint) cannot be analyzed by a computer and thus have little chance of scaling or being measured. For example, if you’ve created a customer journey map with distinct stages, and you want to serve specific content on specific channels for customers to consume at each stage, you can’t pull dynamic reports, calendar views, or cuts of your projects and tactics against these criteria.
However, innovative retail brands are beginning to rethink the way they plan, visualize, and measure the success of their strategy by translating key strategic elements into structured data and managing their retail calendaring within a Content Marketing Platform.
Representing your marketing strategy as structured data is one step in a larger process of developing a truly valuable, flexible, and scalable retail marketing calendar. For retail marketers, we’ve broken this process into four primary steps.
- Document your strategy
- Translate it into structure data
- Determine the most important views of this data
- Build out your views in a spreadsheet, CMP, or other software system
To begin measuring your marketing strategy and upping the insights you get out of your calendar on a daily basis, download our free Retail Marketer’s Calendar Template.