Know Thy Online Consumer

Jul 31, 2003

By George Anderson

Ken Treske, chief marketing officer, CoolSavings, writes in the latest issue
of the company newsletter, Know Thy Customer, “By and large, retail has
missed the opportunity to embrace the Internet for what it truly is – a versatile
marketing medium that is singular in its ability to influence consumers and
drive purchases, not just online, but in a variety of channels.”

In the article, Organizing Retail Strategies Around Today ‘s Online Consumer,
Mr. Treske points to studies demonstrating the growing number of consumers who
use the Internet to research a product before making an offline purchase.

He references the results of email campaigns run by three different retailers

“54% of recipients surveyed made a store visit after viewing the promotion,
with nearly 47% of those consumers having been prompted by the e-mail alone.”

Moderator’s Comment: Are retailers fully taking advantage
of the Internet as a marketing medium? What do retailers need to do to grow
their business using the Net?

Ken Treske offers the following advice. “Admitting we
have an opportunity is the first step to rewards.”

Anderson – Moderator

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