The Consumer Channel
It's really a consumer's world. We just do business in it. That's the underlying meaning of customer-centricity, something retailers have been trying to master for at least five years from a technology standpoint.But the initial phase is coming to an end. Now it's time to take customer-centricity to the next level by using the most intimate channel ever invented -- the mobile phone, the contact point where all channels merge.
What's different today is that consumers are more empowered than ever before. They have networks of friends at their fingertips and access to information 24/7. And, importantly, they require permission for retailers to enter their personal space.
The key to unlocking this challenge is through Social Retailing, which incorporates marketing, merchandising and selling functions through Internet services like Facebook, Twitter, YouTube and others.
Although social media is frequently viewed as an entertainment medium, smart retailers are beginning to derive business value by discovering new customer segments and engaging them to build brand advocates. They are also integrating methods to enable customers to make product discoveries that convert browsers into purchasers.
When successfully combined, these Social Retailing techniques become something new, a Consumer Channel where shoppers are in charge and retailers are welcome participants.