Have you seen Easy Ways To Make Marketing Pay?

This is the marketing playbook that will help keep your business at the top of every customer's mind - and wallet - and help you increase Profits, Customer Satisfaction, Customer Retention, Customer Loyalty and Word-of-Mouth Advocacy, both online and offline.

Get it on Amazon (Kindle/Print)

Food retailers to gain from customer-centric loyalty

Looking for the holy trinity of loyalty strategies

According to a newly released report from the Food Marketing Institute and Precima, titled Next Generation Loyalty: Get It Right In Food Retail Part 2: Loyalty In 3D, food retailers have the ability compete successfully and sustainably in today's highly competitive market by understanding and consistently satisfying shopper needs better than the competition. But retailers need to realize that they can't assume that their current customers will remain loyal - they need to consistently earn the loyalty of their shoppers by aligning their resources and decisions with customer needs.

The report, the second of two on the topic, provides a framework and roadmap for how food retailers can successfully approach Loyalty in 3D and take their efforts to earn customer loyalty to the next level. The intangible benefits from a comprehensive approach that includes all of these elements include the advantages of having a very loyal customer base and a purpose driven workforce that is energized and committed to delivering a higher level of value to customers. This one-two combination is difficult for any competitor to replicate or steal and provides an almost unassailable competitive advantage.

From a tangible perspective, next generation loyalty enables retailers to grow their number of valuable shoppers, sales per shopper and lifetime value per shopper. It allows the retailer to do this in the most cost-effective and lowest risk way by understanding and satisfying customer needs better than the competition. By way of a bottom line example, the report shows that for a $2B retailer with a gross margin of 25% this equates to $70M per year of incremental sales and $30M per year of incremental gross profit.

The report, which is based on survey of more than 3,000 shoppers and 200 retailers, provides guidelines for how retailers should implement a next generation approach to loyalty. Central to the suggested approach is a Crawl, Walk, Jog, Run strategy to capture then retain the attention of the customer and build momentum at the company and with its trading partners.

Note to editors: Graeme McVie and Pat Walsh are available for interviews through the media contacts. Both reports are available for download at www.FMI.org/Store.

"Food retailers need to reboot the way they think about loyalty, taking advantage of the latest tools to truly engage shoppers and earn their loyalty across all customer touchpoints and not merely through a loyalty program"

"Food retailers need to reboot the way they think about loyalty, taking advantage of the latest tools to truly engage shoppers and earn their loyalty across all customer touchpoints and not merely through a loyalty program," explains Graeme McVie, Chief Business Development Officer at Precima. "They need to align their strategic, tactical and operational decisions across merchandising, marketing, store operations and supplier collaboration so a clear and consistent message is sent to the market that the retailer is working hard to earn the shopper's loyalty."

"With the intangible and tangible benefits that are possible from taking a shopper-centric approach, it is surely time for retailers to embrace next generation loyalty. As one of our member CEOs told us, 'if you don't like change, you"re going to like irrelevance a lot less,'" says Pat Walsh, senior vice president for industry relations at FMI.

Have you seen Easy Ways To Make Marketing Pay?

This is the marketing playbook that will help keep your business at the top of every customer's mind - and wallet - and help you increase Profits, Customer Satisfaction, Customer Retention, Customer Loyalty and Word-of-Mouth Advocacy, both online and offline.

This 120+ page report distils a whole spectrum of marketing best practices, do's and don'ts, practical how-to's, research and wisdom from respected global marketing veterans, explaining both emerging and established marketing techniques, technologies, strategies and practices, and providing you with the data you need to support the best decisions for your new, more profitable, more engaging marketing strategy.

In this comprehensive report you'll find all the information and support you need to build and improve a profitable, effective Marketing Strategy that covers all aspects of your business and customer base.

It also highlights all the hard facts, practical know-how and trends drawn by our experts from the global Marketing Factbook's vast database of market data, studies, research and white papers, and presents you with an invaluable library of ideas and practical support you can call upon at will.

This is no average 'state of play' report; it's the only 'Fact Book' that helps you implement and manage meaningful and profitable change, and help you grow your bottom line despite a slowing economy.

You'll gain a true goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, research and market data, plus all the supporting arguments you need to build a solid, profit-generating marketing strategy.

Get it on Amazon (Kindle/Print)