News and Analysis
Sleep on This! Mattress Firm sells for $4B
In a cash ($2.7B) and stock ($1.3B) transaction, Tempur Sealy International, Inc. just bought Mattress Firm, the largest multi-location retailer in the U.S. Despite massive changes in the sleep category, Mattress Firm still operates 2,300 brick-and-mortar locations in the U.S. According to a press statement, “[The acquisition will result in] 3,000 retail stores, 30 e-commerce […]
Adobe Survey: 53% of SMBs Plan to Revamp Websites in 2023
Digital marketing can provide small businesses with access to desirable buyers, and potentially level the playing field with larger competitors — but it comes at a price. The average small business spends 8% of its total revenue on marketing, which means that for every $100 in revenue the business brings in, $8 goes right back […]
Brick & Mortar vs Flesh & Blood: An Interview with Ryan Serhant
Even if you’ve never seen “Million Dollar Listing,” you should know who Ryan Serhant is, especially if you’re involved with a multi-location brand. Serhant is the high-energy and visionary media personality successfully breaking almost every real estate marketing and sales rule. Serhant launched his brokerage company (called SERHANT, of course) in 2020. The company now […]
Commentary
Adthena and Adsquare’s New Launches
In this episode of Location Weekly, the Location-Based Marketing Association covers Adthena launching “Local View,” Adsquare launching “Audiences in Motion,” location-based game Breadcrumbs debuting in Singapore and Clark County, and Las Vegas releasing the “FixIt Clark County” app for citizens to report problems.
Improving Satisfaction with Digital Customer Service
Most brands track certain metrics, including customer satisfaction (CSAT), net promoter score (NPS), and customer effort score (CES), to gauge how well they’re serving customers. Each calculation gives a numerical value you can use as a benchmark or leading indicator when making improvements to customer service operations or your brand’s customer journey.
These scores provide insight into which experiences and channels drive the most satisfaction, as well as which pain points are negatively impacting customers. Benchmarking scores against ever-changing industry standards and monitoring even subtle shifts over time allows brands to access valuable information about the quality of their customer care.
How DTC Brands Are Adapting to Covid-19
When Covid shut down the world, it wasn’t just traditional retailers that were hit. DTC brands were, too. Shifts in consumer shopping habits during the pandemic forced DTC brands to alter the ways they think and they still came up on top. As the world continues to navigate our new normal, we hope that others can learn from the strategies DTCs are implementing.
Latest Posts
How Will Influencer Marketing Survive the Covid-19 Crisis?
It is against the backdrop of an unprecedented economic downturn that marketing tech makes its pitches to clients this year. On the one hand, it is fair to say cutting-edge marketing may be as important to businesses as ever. With storefronts closed across dozens of states to promote social distancing, businesses need ways to connect with customers, and they need novel, often tech-driven tactics, like curbside pickup, to sell their goods safely. E-commerce, including mobile and social commerce, are also well-positioned to thrive at a time when customers are often left with hardly any other option. On the other hand, with revenue dramatically down for most retailers and consumers averse to in-store spending, digital tools risk being cut from squeezed budgets.
To assess how the swift economic downturn caused by the coronavirus is affecting one of digital marketing’s hottest new sectors, influencer marketing, I connected with Daniel Schotland, COO of influencer marketing company Linqia.
5 Curbside Pickup Solutions for Retailers to Use During Covid-19
Curbside pickup isn’t just a win from a public health perspective; it also gives stores an additional lifeline as they look for ways to sell products without violating physical distancing guidelines. What’s more, the trend may stick, bringing additional retailers into the process and boosting customer adoption even after social distancing subsides.
These are five technology companies offering platforms and tools that retailers can use to implement curbside pickup during the Covid-19 crisis.
Location Weekly: Unacast, Krowdthink, Inpixon Tackle Coronavirus
In this episode of Location Weekly, the Location-Based Marketing Association covers Unacast releasing a “Social Distancing Dashboard” to share how Americans are complying, Inpixon offering LBS tech to help hospitals with COVID-19, McDonald’s separating its Golden Arches in Brazil, and Yelp offering $25M in free ads to bars and restaurants. The show also features Geoff Revill, the co-founder and CEO of LBMA member company Krowdthink, who discusses the use of Community Krowd to assist the UK Home Office in the coronavirus crisis.
Local Businesses Lean Heavily on Digital Tools During Covid-19
Digital platforms like Facebook, Google, Instagram, Yelp, and Twitter have never been more important for local businesses. With 80% of customers saying they are scaling down their restaurant visits now, restaurants are in uncharted territory. Local businesses in every industry are being forced to adapt their marketing strategies on the fly and use digital channels like Google and Yelp to keep people updated on their status.
Restaurants that were previously hesitant to use delivery services are now jumping on the bandwagon, and apps like DoorDash, Instacart, and UberEats are seeing a surge in businesses using their platforms. Smaller restaurants, retailers, and other local businesses are also beginning to accept more orders through messaging apps like Facebook Messenger and WhatsApp. Larger organizations are managing an influx of customer service calls using chatbots on these same platforms.
Coronavirus and Mobile Advertising: CPMs, Sensitivity, Geographic Comparisons
The Covid-19 crisis is a challenging time for all industries, but for mobile marketers it poses a paradoxical challenge. On the one hand, people are on their phones and engaging with media as much as ever. On the other hand, the economic downturn is putting a strain on marketing budgets, employees are working from home, and messaging during a public health crisis requires unusual sensitivity.
Brian Bowman, CEO of social marketing and user acquisition firm Customer Acquisition, provided Street Fight his takes on the current state of the mobile ad market, where it’s headed in the coming weeks, and how advertisers can approach their work with consideration for the difficulty of these times.
Street Fight’s April Theme: Local Commerce in the Time of Coronavirus
We’ll devote coverage this month to the virus’ continued outbreak and its effect on local business. Of course, the airwaves and ether are already filled with pandemic coverage, and we won’t look to compete with that. Rather, we’ll be writing specifically about the crisis’ impact on local commerce, marketing, and related subjects.
In fact, we’ve already gotten started. Our March theme of reputation management barely got off the ground before we and many of our contributors came to the realization that it didn’t really feel right to talk about anything other than Covid-19. Don’t worry, we’ll give reputation management an encore performance later in the year.
An Overlooked Audience for Digital Marketers: E-Sports Fans
The most obvious way to date to engage with e-sports audiences has been through sponsorships. In a move that took the advertising world by surprise, Louis Vuitton (LVMH) partnered with Riot Games to sponsor the League of Legends World Championship trophy gear, just as it does for the FIFA World Cup and Australian Open. Coca-Cola, Intel, Mountain Dew, Comcast, Airbus and Red Bull are front and center at esports events. Major brands are clearly on board.
But what if you’re not a Fortune 500 with millions of dollars to spend on sponsorships? Just like the “meat-sports,” the Overwatch League canceled its in-person games (or “homestands”) for March and April and moved to online matches, the same way League of Legends has. And that hasn’t made a dent in its value for advertisers. And what if you, like many today who are seeing all these event cancellations, don’t want to waste dollars on unseen impressions?
It’s time to look in your pocket — the mobile device.
This Startup Is Helping Local Stores ID Customers During COVID-19
Chatbots are helping resolve customer service issues when businesses are closed and call centers are slammed, but brick-and-mortar stores are still struggling to adapt to an online-only business format. Pure play ecommerce outlets have spent years developing systems to manage transactions and verify customer identities, but most retailers on Main Street are accustomed to seeing shoppers in person and visually checking IDs.
A San Francisco-based startup called Persona is offering to help those local businesses adapt by giving away its online ID verification service for free during the COVID-19 crisis.
7 Delivery Apps Keeping Restaurants, Grocers Afloat During COVID-19
Dozens of states have banned dine-in service at restaurants, and nearly as many are requiring retailers to close up shop in a bid to slow down the coronavirus outbreak. As local businesses deal with the enormous financial implications that come with closing down to customers, many are trying out delivery services for the very first time.
For restaurants and other local businesses interested in offering their products via on-demand delivery, here are seven delivery platforms with which local businesses can partner during the Covid-19 crisis.
Amid COVID-19 Pandemic, Accurate Location Data Can Save Hassles and Even Lives
Updating your location data management information to reflect new hours, store closures, different contact information or special announcements is important for business success in general. In the midst of the global Covid-19 pandemic, maintaining accurate location data can actually have vital consequences for public health.
Yet a BrandMuscle study found that less than 60% of local business owners had even claimed their online business listings, which can lead to confusion about whether businesses are open or not.
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Meta Is Automating Ads, But Brands Still Face a Bigger Problem