Blis was thrilled to be a keynote speaker at last week’s MediaPost Retail Brand Insider Summit in Hilton Head, SC. Alex Wright, our Global Insights Director, spoke to top retail marketers about the relationship between location and behavior and the battle for market share in today’s ever-fluctuating landscape.
Alex advised the audience to “Adapt for now, plan for next”. He discussed how digital media has brought a deluge of data, and we’ve become bewitched by metrics – too often at the expense of objectives. Meanwhile, increasing emphasis on data privacy has seen advertising IDs in decline, creating a greater impetus for brands to gather – and capitalize on – first-party data. This has perpetuated the industry preference for retention strategies over acquisition.
Behavior is predictable, but decision-making is not. Behavior is 93% predictable. We’re creatures of routine, of habit, of the path of least resistance, of suggestibility. Because behavior and location have always gone hand-in-hand, location data has provided us with a view of high commitment intent. With this statistic in play, he urged that we explore the relationships between behavior and decision-making, and how recent research into the balance between retention and acquisition strategies can be brought to life in an increasingly omnichannel world.
Learn more about Blis’ Audience Explorer here and explore our new retail hub here.
