CONSUMERS 2018, PART 2

Reach, Attract, Capture and Retain

Part 1 of this two-part Special Report focused on the current data and insights on consumers rsquo; behaviors, perceptions and attitudes. Brands and retailers can rsquo;t develop, implement and manage strategies and tactics to ldquo;reach, attract, capture and retain rdquo; consumers until they understand how consumers think about the buying process and the path they choose for each unique purchase journey.

Some experts and analysts advocate a strategy that targets individual consumers rather than using demographics or personas, which is the approach of traditional advertising/media. They aren rsquo;t necessarily wrong; it rsquo;s just the reality of the marketplace doesn rsquo;t yet match a somewhat utopian approach to engaging with each consumer individually.

Research from Bazaarvoice, a company that provides advertising and personalization solutions, indicates ldquo;only 17% of marketers can see customer behavior beyond their own properties. rdquo; The reality is a vast majority of brands and retailers are unable to identify consumers as early in their purchase journey as they should to maximize the number with which they engage and attract.