What's Happening?
Retailers are facing challenges due to the divide between brand and performance marketing, which is impacting revenue. The traditional marketing funnel of awareness followed by conversion is no longer
effective as customers interact with brands across multiple platforms unpredictably. This siloed approach leads to missed opportunities and frustrated customers who expect seamless experiences. Retailers are urged to adopt shared intelligence and align marketing, UX, and product teams to optimize the customer journey and improve conversion rates.
Why It's Important?
The divide between brand and performance marketing can lead to inefficiencies and lost revenue for retailers. By integrating these functions and using shared data, retailers can enhance customer experiences and drive growth. Successful examples from brands like Kendra Scott and Clarins show that unified data and cross-functional collaboration can lead to significant improvements in conversion rates and customer satisfaction. Retailers that fail to adapt risk losing customers to competitors who offer smoother, more intuitive shopping experiences.
What's Next?
Retailers are encouraged to rethink their organizational structures and adopt journey-based KPIs to capture the full customer experience. Implementing real-time feedback loops and shared decision-making processes can help teams act collectively on insights. Investing in connected intelligence tools can further support this transformation, enabling faster and more informed decision-making across teams.
