Retailers with Benefits: When Giving Up Personal Information Really Pays Off

The rise of social media creates new opportunities and challenges for retailers


The IBM research also showed that when people are discussing brands, they will often highlight certain characteristics about a brand, for example, a shoe’s construction or its sole, as opposed to its color or style. The matters in a product attribute is insightful because it can give manufacturers and retailers a better sense of what they are known for in the market, and help them capitalize on those insights in a smarter way.

How Technology Can Help

With the volume of conversations happening online, retailers must listen to and learn from their customers using sophisticated analytics technology to gain insight and adjust their marketing messages to address what they are hearing on the wire. Retailers must now deploy an evolved strategy for redefining the customer experience to deepen the brand relationship and create brand advocates who will promote the retailer to others. At the same time, retailers must improve operational efficiency in order to protect profitability and enhance agility.

For more information, visit www.ibm.com/iibv.

 

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