Some top content opportunities marketers in retail sector should be exploring to remain competitive in the face of the great Amazonian conqueror.
Do you remember where you were on July 11, 2017 – a seemingly random Tuesday in the middle of summer?
If I were to venture a guess, I would say there’s a good chance you spent at least part of your day taking advantage of retail giant Amazon’s one-day shopping extravaganza, Prime Day. According to Amazon, it was the company’s biggest sales day in its history, with tens of millions of customers making purchases in nearly every retail category imaginable. To put that in perspective, Amazon sold more items on Prime Day than it did on Black Friday and Cyber Monday – combined. That’s a lot of shopping carts to ring up!
As the world’s third-largest retailer, Amazon has grown to the point where its inventory practically sells itself. But the brand also has a range of branded content products and technologies it’s developed to speak (literally) on its behalf such as its Echo digital device, its Prime streaming entertainment service, and its digital Dash buttons.
Though Prime Day represents a major benefit for deal-seeking consumers and Amazon’s retail partners alike, it also serves to highlight some of the big content challenges faced by all retail industry marketers – whether their operations are online, brick-and-mortar stores, or a combination.
Let’s look at a few of those challenges, as well as some top content opportunities marketers in this sector should be exploring to remain competitive in the face of the great Amazonian conqueror.
Marketing Cost Containment Is Critical
With the cost of goods constantly rising, profit margins in this industry can be razor-thin, which means retail brands need to be highly strategic when it comes to their marketing budget and content team’s resources.
Complicating the matter is retail’s shorter sales cycles and lower customer lifetime values as compared to high-consideration purchases like automobiles or technology solutions. That can make it tougher for marketers in this segment to get the necessary buy-in for the kind of long-term commitment required for successful content marketing.
Fortunately, content marketing’s overall cost-efficiency makes it a highly accessible technique for retail brands at any budget level. Casandra Campbell, content marketer lead at Shopify and managing editor of the Shopify e-commerce blog, points out that content marketing can even help retail brands to decrease paid-traffic customer acquisition costs (CACs) and build more sustainable businesses. “Using tactics like blogging, you can create warm traffic to remarket to later, with a much lower CAC than cold traffic,” she says.
Source: Content Marketing Institute