Using tech-enabled retail strategies to secure your competitive advantage
In a world where technology continues to reshape our lives and businesses, the impact of the digital age has been nothing short of transformative. The pandemic, in particular, accelerated technology adoption across industries, fundamentally changing how we shop and conduct business. Yet, as technology advances, retailers find new hurdles to overcome–particularly with AI and retail media networks. Thankfully, there are companies like Rokt that provide valuable turnkey solutions. Rokt is not a replacement for other solutions, but rather a complementary one that provides a cost-effective way to monetize a site or acquire customers.
While budgets are increasing (a recent survey of retailers found that 42% of companies plan to increase their technology budgets in the coming year), so is the need for consolidation which makes choosing the right tech more meaningful.
In the past, retailers would invest in a wide range of technologies, hoping one would be the silver bullet that would solve all of their problems. However, this approach is no longer sustainable. The industry is constantly evolving, and new technologies are emerging. As a result, retailers need to be more selective about the technologies they invest in.
Here is where Rokt enters the scene, offering white glove service that requires little capital to get started.
Tech-driven changes in retail
Tech is changing the way we shop and do business. Shopping apps make it easy to shop online and in-store, with features like product search, personalized recommendations, price comparisons, and checkout. Upgraded fulfillment systems mean faster and more reliable delivery, even for same-day and overnight orders. Retail media networks give brands a new way to reach customers while they’re shopping. Real-time inventory tracking and data allow brands to manage stock. Tech is transforming retail, making it more convenient, efficient, and personalized for everyone involved.
Advanced machine learning tech like enables businesses to optimize the ecommerce Transaction Moment by delivering personalized offers and relevant content to individuals at the right time and place. This approach allows retailers to monetize their checkout while brands can acquire customers who are actively making purchases. With easy implementation and Rokt’s white-glove service, retailers and advertisers can go live in as little as 14 days, ultimately leading to improved economic outcomes for our ecommerce partners and advertisers.
Top challenges in retail technology selection & adoption
Selecting and adopting the right technology is critical for retailers and brands to remain competitive. However, as the tech landscape evolves, retailers face increasing challenges during this process, especially when it comes to integrating new technology with existing systems. The Total Retail research cites “Seamless integration into our existing tech stack is always tricky. Solutions are never as plug and play as they promise” as one of the biggest challenges reported.
The same report found that 78% of retailers have experienced significant difficulties in seamlessly integrating new technology with their existing systems. Additionally, 92% of respondents expressed concern about the impact of poor integration on their day-to-day operations.
Poor integration can have a devastating impact on retail operations. It can lead to inefficiencies, data silos, disruptions, poor customer experiences, and decreased profitability.
Retailers who want to stay competitive need to invest in reliable and efficient integration solutions. Rokt is a trusted partner that can help retailers overcome the challenges of technology integration with its seamless integration capabilities and straightforward process. Rokt can go live in less than two weeks, and by acting as a trusted intermediary, our platform gives clients complete control of the customer experience, with data, security, and privacy as top priorities.
Essential components of retail technology integration infrastructure
The infrastructure required to integrate technology for retail and retail media can vary. However, common components include:
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- A reliable and secure network
- A scalable and adaptable platform
- A secure robust data management system
- Advanced tooling and experimentation features
- A team of experienced professionals
Embracing new technology in retail offers great promise, but it also presents unique challenges. Imagine compatibility issues that pop up when various systems and platforms don’t work together, causing hiccups in daily operations. Data silos, like locked vaults, hide customer insights, making it difficult to understand customer preferences and behaviors. In an era of common data breaches, safeguarding sensitive information is non-negotiable to ensure trust and peace of mind.
Rokt’s commitment to data security and privacy
Rokt is committed to protecting the data of its clients and customers. Its approach is grounded in four simple yet crucial principles:
Your data stays yours
Client data is only used for its intended purpose, and is never shared with or sold to third parties.
Your data, your rules
With Rokt, you call the shots. You have complete control over how your data is used and shared, putting the power firmly in your hands.
Keeping it separate
We keep your data in its own lane. This separation is key to preserving the privacy of your customers, and it’s a commitment we take seriously.
Compliance is king
We stay on top of all the data privacy laws and regulations to ensure your data is treated with the respect and care it deserves.
Rokt’s dedication to data security and privacy is your ally in safeguarding your customers’ data and making your marketing campaigns not just effective, but also trustworthy.
Why vendor support matters
Vendor support is crucial for retailers during the implementation and post-implementation phases of technology adoption, helping them resolve technical issues, get training, and stay up-to-date on the latest updates and patches. Rokt emphasizes free managed service, where their account service team runs your campaigns end-to-end, optimizing your performance to downstream KPIs, like CPA. This allows you to focus on your core business activities while Rokt takes care of the details of your marketing campaigns.
Here are some of the benefits of free managed services from Rokt:
- Access to a team of professionals who can help you design, launch, and optimize your campaigns
- Confidence that your campaigns are running smoothly and effectively
- Time and money savings by not having to manage your campaigns yourself
Contact Rokt today to learn more
Technology is transforming the retail industry in several ways. Retailers who want to stay competitive need to invest in the right technology solutions and partner with companies like Rokt that can help them overcome the challenges of technology adoption.
Rokt offers a comprehensive solution for retailers who want to get up and running with the right technology quickly and easily. This means that retailers can focus on their core business activities while Rokt takes care of the details of their marketing campaigns.
If you are a retailer looking to embrace new technology and improve your customer experience, contact Rokt today to learn more about how the company can help you succeed.