The world of marketing is evolving at a rapid pace, between the need for new strategies in the face of inflationary pressure, strategies to prepare for the coming cookie phase-out and ways to navigate the growing importance of real-time social commerce. And the 2022 holiday season is approaching fast, making it imperative for retailers to come up with plans to meet these challenges.
That’s why marketing playbooks for the second half of 2022 and beyond should include:
- Building loyalty before cookies disappear: The loss of cookies and other third-party tracking tools means retailers will need to focus on first-party data, while respecting privacy by building loyalty with shoppers;
- Humility when branding with a message: Shoppers want to purchase items from brands that share their values — and that means those values, not the retailer, need to take center stage;
- Knowing that livestreaming is about more than sales: Livestreaming is a powerful tool for social commerce, but retailers need to put entertainment and content first while also ensuring they capture valuable viewing data; and
- Marketing, finance and IT breaking down their silos: Modern marketing is too complicated a task to be handled by one team, and CMOs must connect with CFOs and CIOs to combine all their departments’ talents.
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And to learn about the interplay between advertising, marketing and the burgeoning world of retail media check out our Retail Media Guide here.