- March 15, 2019
- Posted by: MarketJon
- Category: Audience Management, Digital Transformation
We live in a fast changing and incredibly competitive business environment. The Wall Street Journal had an excellent article on just that today – How Sears Lost The American Shopper. It’s a cautionary tale on how the biggest retailer of the 1960’s and 70’s essentially collapsed under its own weight because of a variety of factors including overreaching outside their core competency (Allstate, Coldwell Banker, etc.), not correctly seeing consumer trends (Walmart, Home Depot, Lowes, etc.) and interestingly enough, being slightly ahead of their time in digital transformation.
If you’re old enough to remember, Sears was Amazon before Amazon. They had the world’s biggest catalogue shopping experience and made a fortune for themselves and their investors. It was great times for Sears. But the weight of their success coupled with the over reaching and then two decades of one bad decision after the other caused the once retail giant to collapse. As recently as 2006, Sears had 300,000 employees. Today it has under 50,000. Eddie Lampert is trying desperately to save the venerable brand but it’s going to be tough.
Which brings us to today’s digital transformation in our own small business world. How are we adapting? How are we marketing to the changes in consumer behavior? Do we know how are consumers are thinking today vs a year ago or five years ago? Do we know where our consumers thinking will be in a year from now? These are terribly difficult questions but one’s we need to consider when it comes to our marketing plans.
Smart phones as we know are the on-the-go computers we use today and 86%+ of the population is using one today. The phone is the biggest marketing platform opportunity that exists today.
Are your marketing plans including a mobile strategy?
If so, do they include advanced geo-location techniques that can drive attribution to your business?
Our job a MarketJon is to help you develop the right strategies to stay with and ultimately ahead of your consumer. Our job is to help you be Amazon, not Sears.