Have you seen The Marketing Factbook?

The Marketing Factbook will help you up your marketing game, walking you through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations you need for a hgih-profit, high-rentention marketing strategy. This comprehensive marketing guide has 400+ packed pages of marketing strategy, trends, best practices, do's and don'ts, practical know-how, facts and figures, and tons of ideas to boost sales revenue, market share, ROI, and profits.

Get it on Amazon (Kindle/Print)

Shopper marketing: 5 Steps for retail growth

Digital technology is now creating a much more transparent and open landscape for retailing where the ability to browse, research and price compare is intensifying competition. This transparency, together with the current harsh economic climate, has led many retailers to focus on price as the main source of competitive advantage. While price is an important element in a mix of strategies for influencing customer behaviour, it does not provide the differentiation required to build long term sustainable growth.

Moreover, the price reductions are potentially harming a vital source of support. Suppliers have a deep understanding of their categories and can provide valuable additional knowledge as well as product innovation to help drive a strategic advantage. What's more, in a more transparent environment where retailers have only a short window to correct mistakes or failures, a strong partnership with suppliers will be needed to help spot changes in consumer preference early and formulate effective responses.

Shopper marketing provides a means for retailers to share insight and work with suppliers to grow incremental revenues for both parties. However, achieving success through shopper marketing can be challenging and often requires a change in approach for both retailer and supplier. Experience gathered from around the world suggests that the five key steps for success are:

1. Opportunity analysis
   Retailers should use their ability to understand customer preferences, shopping missions and behaviours to identify gaps in their offer and therefore opportunities to create innovative and targeted propositions to meet specific needs.
2. Partners
   Having identified potential opportunities, consider the most appropriate brands and manufacturers to work with on meeting the needs of the target segments. This should include considerations such as the additional insight they can provide and the strategic fit for such collaboration.
3. Insight sharing
   One of most significant challenges to overcome is creating a unified approach to understanding customers and integrating a retail view with that of a brand owner. An ability to share segmented shopper insight through tools can provide a significant advantage in this process and enable the creation of joint objectives around a common theme.
4. Relevant execution
   Ensuring that all the tactics used to influence the consumer are relevant to the target group and enable competitive differentiation including trade and brand marketing as well as in-store layout and merchandising.
5. Measurement
   To be able to quickly isolate and analyse the effects of the campaign on the target group using a number of criteria relevant to manufacturer and retailer such as, changes in shopping behaviour, media effectiveness and sales uplift together with any negative consequences within the brand or the category.

"After a few years of focusing on price, we anticipate that retailers will look for a more sustainable source of competitive advantage," concluded Maxime Brunet of Emnos. "Success will be found in differentiating their propositions and enhancing their engagement with relevant offers and communication. Shared shopper insights and collaboration with suppliers will enable the development of these propositions to drive long term competitive advantage."

Have you seen The Marketing Factbook?

The Marketing Factbook will help you up your marketing game, walking you through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations you need for a hgih-profit, high-rentention marketing strategy.

This comprehensive marketing guide has 400+ packed pages of marketing strategy, trends, best practices, do's and don'ts, practical know-how, facts and figures, and tons of ideas to boost sales revenue, market share, ROI, and profits. It's the report no marketer can afford to be without.

Find out the best ways to gather, analyse, and act on customer data to increase profitability, build your brand, empower your customers, beat the competition, reduce churn, and increase customer profitability.

Find out what works and what doesn't, who's succeeded and how they did it, and how the world's top brands keep their competitive edge against all odds. This report gives you the data you need for the best decisions for a more profitable, more engaging marketing strategy.

Get the hard facts, forecasts and trends identified by our experts from the global Marketing Factbook's vast database of market data, studies, research and white papers, and gain an invaluable library of ideas and practical support you can call upon at will.

With The Marketing Factbook at your side, you'll have 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, profitable marketing strategy: All the know-how, strategies and ideas you need to get your own Marketing Playbook right, first time.

Get it on Amazon (Kindle/Print)