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According to the report, 91 percent of retailers currently have a mobile strategy in place or in development, up from 74 percent a year ago. Additionally, 72 percent of retailers say they will increase their spending on social networks this year over last year. The survey of 68 companies also found that

Of the two channels, social is where more retailers focus their energy. Respondents ranked social networks as fourth on the list of successful customer acquisition sources. However, tying social media efforts to ROI is still difficult, as it is for other industries. Of the 68 retailers surveyed, 62 percent said the returns on social marketing strategies are unclear, and nearly the same percentage said the primary ROI from social marketing is listening to -- and gaining a better understanding of -- customers.

Mobile initiatives, meanwhile, still lag behind social in the retail sector. Only 48 percent of retailers report having a mobile-optimized website, 35 percent have an iPhone app, 15 percent offer an Android app and an iPad app. The report's authors suggest that retailers invest more in their mobile strategies to reach customers through this important channels.

Mobile challenges include "differentiating the consumer experience on a tablet versus a smartphone and figuring out features and functionality in dueling app/mobile Web ecosystems," the report states.

As with other industries, retailers know that they need to participate in these valuable channels, but clear best practices and strategies have yet to emerge. Our suggestion is to take any steps based on customer insight and the needs and preferences your specific customers. These channels are important, but will only be successful if part of a larger and integrated customer experience strategy.