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With the coronavirus pandemic forcing businesses to shutter their brick-and-mortar outlets and target customers online to simply stay afloat, many have had to drastically increase their digital marketingspend. However, with the crisis decimating so many companies, most don’t have the funds to do so.
For example, if a clothing retailer is struggling with supply chain issues and has an abundance of items from previous seasons, and limited inventory of new items, it can leverage influencers to create in-time content that promotes out-of-season and older inventory, making what’s old new again.
Additionally, tapping into data around shopping behavior will allow you to provide personalized promotions and deals. If they’re shopping for a shirt, teach them how to complete the outfit by showing accessories that complement it. So much promotional effort is spent telling people about products. Get Experiential.
Efficient MarketingSpend Acquiring new customers is typically more expensive than retaining existing ones. Upselling allows you to capitalize on your current customer base, making your marketing efforts more cost-effective. For example, if a customer frequently buys running shoes, suggest premium athletic socks or accessories.
that’s why marketing teams are allocating more of their spend towards them. research found that 74% of marketersspend one-third or more of their budgets on social advertising. In-store traffic data also can help “fill in the blanks” for marketers looking at why promoted products don’t sell or grab customer attention.
Brands that are kind of infiltrating the baseball and softball world but it’s very much like an accessories like they might be a Brandon sunglasses or a bad brain and batting gloves but there’s not really a big brand kind of doing it all, and there’s almost no direct-to-consumer penetration so it’s something that. [14:34]
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