WRITTEN BY: KATE MACCABE
Just two months ago, the Flywheel Strategy team trekked to Los Angeles along with other ecommerce leaders, coming from across the country to kick off the state of global retail, ecommerce and retail trends in 2024. For over a decade, the Global Ecommerce Leadership Forum, led by Kent Allen and Jim Okamura, brings together thought leaders to tap into where the opportunities and challenges are for businesses who are unlocking the power of thinking globally for their growth plans.
In the morning sessions, our founder, Kate MacCabe, led the Global Marketing Showcase, diving into how marketing leaders balance diversification and innovation in their marketing channels with traditional approaches.
Highlights of the session:
- Q: How are companies thinking about international growth strategies, as it relates to marketing strategies:
- A: Kim Walls, Co-Founder of Furtuna Skin, explained the necessity of expanding beyond the four classic P’s of marketing mix: Product, Pricing, Placement and Promotion to also include People (think customer service), Processes (.e. User and customer journeys), and Physical evidence (from website -> to social platform -> to instore).
- Q: Where are AI and predictive models driving customer acquisition for international expansion?
- A: Rita Zahir, leading Growth at High Light Rituals, shared that her teams are finding unlocks with the testing structures AI are opening the doors for. Not only can A/B testing leveraging AI lead businesses to learnings on winning creatives, it also provides insights into exactly what aspects the various customer audiences prefer.
- Q: How are you leveraging technology to find the unlocks for marketing growth in 2024?
- A: At Kut from the Kloth, Steve Morales is leveraging tech stack consolidation as a strategic advantage for the Growth function he’s leading. Through those efforts, Steve is unveiling wins for not only the P&L through reducing expenses, he’s also breaking down the invisible walls between platforms that often block personalization opportunities.
- Q: What is one key takeaway or trend are you focused on for unlocking growth?
- A: As CMO at RealDefense, Jeff Campbell is keenly aware of the changing landscape when it comes to data privacy and GDPR, and the increasing challenges it brings to first targeting and retargeting audiences in Europe. He brings a focus to the product development process, as a way to buoy conversion rates – to bolster and lift the strain these data privacy changes bring to marketing metrics.
The Global Ecommerce Leadership Forum in Los Angeles was a melting pot of innovative strategies and keen insights from leading experts in the field. During the Global Marketing Showcase, the panel exemplified the forward-thinking approaches necessary for international growth; with a focus on expanded marketing frameworks and technological consolidation.
The use of AI for customer acquisition and the broader application of the marketing mix highlighted a dynamic shift towards more inclusive and technically integrated marketing strategies. As ecommerce and retail continues to evolve, the insights shared by the leaders at the forum underscore the importance of adaptability and the pursuit of technological synergies in driving global retail success in 2024 and beyond.
Working to refine and empower your approach to international expansion?
BE THE FIRST TO COMMENT: