Does closing brick-and-mortar stores mean losing business? Not necessarily. According to this Marketing Science Institute (MSI) working paper, retailers can retain most, if not all their sales, by helping consumers adapt to local closings. Maintaining sufficient density of locations and customer loyalty are paramount. Retailers who employ an omnichannel strategy can even shift in-store purchasing online or to their app.
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On July 13, 2023, the ARF Young Pros gathered in New York City to examine the methodologies and insights that make for a better marketing experience. Industry leaders shared their unique perspectives to encourage attendees to reflect on society’s biases and blind spots more broadly, as well as how they echo through the media landscape.
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Promoting diversity through creative content is the right thing to do and can be highly beneficial for brands if done correctly. It’s important for the context to be in sync with the changing context of public opinion. The study featured in this latest MSI white paper, found that Black actors’ share of ads can increase purchase intent, but only when the ads were processed peripherally. If the ad’s aim was to increase the public’s attention to inequality, this could actually inhibit the effect.
Engaging consumers on social media platforms is extremely advantageous for firms. Yet, sustaining engagement is not always easy. Usership often drops off. The field experiment described in this Marketing Science Institute (MSI) working paper shows helpful ways to sustain social media engagement and offers insights into the positive effects of offering certain members power in their online community (OC).