LiveRamp and Teemo have partnered up to enable brick-and-mortar retail stores to thrive by making retail marketing more effortless and effective.
With all of these companies now extracting location-based insights on consumers, retailers have an opportunity to adapt. Is this the silver bullet against fierce eCommerce competition? Will consumers embrace a more personalized form of marketing, or will it prompt privacy concerns?
I spoke with Benoit Grouchko, CEO & Co-Founder at Teemo, to find out if location-based insights on consumers will enable brick-and-mortar to endure and potentially thrive. Grouchko noted that driving traffic in stores has become the number one strategic priority for many retailers. He co-founded Teemo because “there used to be a gap between the offline world of brick-and-mortar and the online world of digital marketing.” In the past, retail marketing was static whereas eCommerce businesses had access to better tools, allowing them “to personalize the digital marketing user experience, to target the right people, to measure the impact of the marketing program, and to optimize performance.” Teemo now offers these capabilities to brick-and-mortar. Grouchko also notes that “offline sales are still by far the biggest channel source of revenues for retailers.”
Location-Based Analytics Could Boost Retail Sales by David Pring-Mill