Have you considered investing in content marketing as part of your retail branding strategy? Even if you haven’t, your competitors probably have, according to a recent report from the National Retail Association (NRA), content marketing agency Edge, SKUvantage and Retail Oasis.
The report – “Leading the Content Revolution” – found that an impressive 70 per cent of Australian retail marketing professionals are using content marketing. However, there are a significant number of challenges that need to be addressed before adopting this popular retail trend, to ensure your business can make the most of content marketing services.
With the world’s population heading online in increasing numbers, the amount of content available on the internet is growing exponentially each day. Standing out from the crowd and reaching your audience is perhaps the most significant challenge you will face with a content marketing retail strategy.
Once you have created content that can make itself heard amongst the noise online, another key challenge is engaging and retaining consumers. With competitor content available at the press of a button, holding the attention of your audience is important to reduce bounce rates and customer churn.
“With 72 per cent of retail marketers recognising the biggest challenge is to create the right content, retail brands need to get to know their audience better, their routines, personalities, habits and interests. They also need to create a strategy which outlines what they are trying to achieve with their content marketing,” Edge Director Fergus Stoddart explained.
“Retail is an extremely competitive environment and businesses need to make sure they are developing content which is delivering the best results. Retailers who have set up strong content strategies to repeatedly engage customers and an effective evaluation plan see the greatest return on investment.”
Despite these challenges, retailers in Australia often fail to set up effective content marketing strategies. The report found that one in four retail marketers do not have a content marketing strategy in place, and close to one-fifth (18 per cent) are not measuring their retail marketing effectiveness.
This shows that many local retailers are potentially not realising the full potential of their retail marketing campaigns. For more information, contact Retail Oasis today.