Listening for Opportunity
The holidays are here, and while everyone else is focused on being thankful and good will toward men, the stakes for retailers have never been higher. Every business is doing everything it can to get the sale: extending hours, slashing prices and even staying open on holidays But the battleground is becoming more than just discounts and availability. The battle is taking place online.
Broadcasting Won't Get You Far
Every business is doing everything it can to tell people about their deals, but eventually, that becomes white noise. Brands need to couple broadcasting with listening for people's needs that they can deliver on.
People vent frustrations with products. They'll tell people where they're shopping, what they're shopping for and solicit recommendations. These are all opportunities for brands to listen, step in and provide support when and where needed. This may be affirming a decision to shop with your brand, converting someone who was about to do business with a competitor or offering value when people find themselves in a tough situation, such as limited product availability.
Many retailers are already turning to Twitter highjacking, exploiting competitors' problems being discussed on Twitter and reaching out to steal the sale, on Black Friday.
Don't Forget to Listen
Marketers have not had the ability to tap into consumer intentions, frustrations and plans in the past more than they do today. The brands that are listening and ready to act are poised for opportunities competitors may not be, but this competitive advantage won't be around for long.