In this episode of The Retail Pilot - Tech Talk, Ken Pilot speaks with Vic Drabicky and Josh Krepon about performance marketing in the Retail/Fashion Industry.
Summary
In this conversation, Vic Drabicky, CEO and founder of January Digital, and Josh Krepon, President of US D2C and Global Digital at Steve Madden, discuss the current state of performance marketing and the importance of balancing algorithmic marketing with inspirational and influential marketing. They also touch on the challenges of creating and managing content, the role of video in marketing, and the rise of TikTok shops. The conversation covers various topics related to retail and marketing, including the impact of consumer behavior shifts, the role of video commerce, the importance of collaborations and influencers, the use of MarTech in loyalty and data management, and the potential impact of the election on the retail environment.
Key Takeaways
- Performance marketing has dominated the marketing landscape in the past decade, but brands now need to find a balance between algorithmic marketing and inspirational/influential marketing.
- Creating and managing content can be challenging, and brands need to strike a balance between volume and quality.
- Video marketing is becoming increasingly important, and brands need to adapt to the changing landscape of platforms like TikTok.
- The rise of TikTok shops and partnerships with platforms like Amazon indicate that video commerce is on the horizon. Consumer behavior takes time to shift, and it may not always align with predictions or trends.
- Video commerce is a growing trend, but it may take a long time for people to change their behaviors and adopt it on a large scale.
- Collaborations and partnerships with influencers or other brands can be successful if they are authentic, aligned with the brand's values, and provide value to the customers.
- MarTech tools can be used for retention and loyalty programs, as well as data management and analysis.
- The outcome of the election can impact the retail environment, with consistency and confidence being important factors for stability and growth.
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