Tag Archives: Sales

Deloitte | Retail & Distribution

For everyone in the holiday sales arena, particularly all of our retail small businesses.

Articles Included – Insights
Excerpt:

No debate here — shoppers’ spirits are brighterDeloitte’s 2012 annual holiday survey: Omnichannel shoppers to spend 71 percent more on gifts than store-only shoppers.

Mobile retailing: Are you ready for radical change? Mobile technology is affecting many parts of a retailer’s business: from inventory management to cross-channel integration, talent recruitment, and more. This report outlines seven important mobile retailing implications that are emerging as universal.

Retail global expansion For retailers, entering new foreign markets is not as simple as signing a lease and opening the doors. Deloitte examines three primary market-entry methods, franchising, joint venture and owned expansion, and explores the potential trade-offs that each model presents.

The dawn of mobile influence Mobile is having a major impact on store-based sales and its influence is increasing. Deloitte examines the current and potential future effect of mobile on traditional in-store sales.

Pricing from ahead: Helping retailers win in the age of the connected consumerAccess to information through digital technology has changed the tide in retail. How might retailers build an effective pricing strategy to address today’s connected consumer and achieve positive business results?

Check out the articles on November update via Deloitte | Retail & Distribution.

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Four New Charts That Show the Value of Small Business Blogging

Need more proof that blogging is important to your small business?  Check out the stats in these newly issued charts.

Excerpt:  Of course, it’s not just about quantity — quality is also important here. But the HubSpot charts and statistics echo what I’ve seen with my own clients in the past. It takes a little time to gain traction and see results, but when a small business consistently publishes quality content each month, and keeps doing so for several months to a year (and more), website traffic goes up along with other goals — whether it be lead gen or product sales or whatever.

Read full article via Four New Charts That Show the Value of Small Business Blogging.  From Small Business Search Marketing

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Google Is Testing Same-Day Delivery for Shoppers

Competition heats up with same day delivery in the works by major companies and retailers.

Excerpt:   Google is now in the same-day delivery business. In San Francisco, some people affiliated with Google can buy a product, using their phones or computers, and have it delivered to their homes in a matter of hours.Plans for the new service have been under way for more than a year. But it recently went live for some Google employees and their friends, according to two people briefed on the service who were not authorized to discuss it because Google has not yet publicly introduced it. At least one national apparel chain is involved, one of these people said. A Google spokesman, Nate Tyler, declined to comment.Google is just one company tackling same-day delivery. So are Wal-Mart Stores, Amazon.com, eBay and the United States Postal Service.

Read full article via Google Is Testing Same-Day Delivery for Shoppers – NYTimes.com.

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Supreme Court Ruling Threatens Resellers

As the introduction states, if you resell goods, pay attention to the outcome of this case.  It could have a major impact on your business.

Excerpt:  If you’re a small business owner handling re-sold goods, you may want to pay attention to what happens in the Supreme Court this week.

Read full article via Supreme Court Ruling Threatens Resellers | Inc.com.

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Filed under Small Business

Know Your Customers Wherever They Are – HBR

Good read on today’s customer actions in buying a product.   Business needs to address how to collect and use the data.  Sales

Excerpt: Jane wants to buy a TV and starts her shopping journey with a Google search. She finds an electronics review site, clicks on a banner ad, reads about the product details, and decides to go into the store to see the model. She speaks with a sales associate and posts a picture of the TV on Facebook for her friends’ feedback. She also uses her smartphone to do a quick price comparison, and scans the QR code to get additional product information.

Welcome to problem #1 for retailers: The company knows that a potential customer has interacted with it across a lot of touch points but it has no idea that all these interactions are with Jane. It can track each of these interactions across touchpoints, but doesn’t know how to tie them to an individual customer. Since each touchpoint yields a particular piece of data, this becomes a complex data management challenge.

Retailers are desperate to unlock this intelligence so they can make more personalized offers. Research shows that personalization can deliver five to eight times the ROI on marketing spend and lift sales 10% or more.

Here are four keys to tracking today’s multichannel customers.

Read full article via Know Your Customers Wherever They Are – Josh Leibowitz, Kelly Ungerman and Maher Masri – Harvard Business Review.

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Why Price Match Guarantees Can Be Bad For Consumers – HBR

A push toward price matching a competitor  —  article describes the results could be a much bigger problem.  Sales management

Excerpt:  So price matching policies are good for consumers, right? Not necessarily. Consider the following three reasons:

Read full article via Why Price Match Guarantees Can Be Bad For Consumers – Rafi Mohammed – Harvard Business Review.

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Increase Your Revenue $$ With Gift Cards (Infographic)

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Find more amazing infographics on NerdGraph Infographics

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Don’t Make These Mistakes When Entering a New Market – HBR

Marketing and sales.  Great how-to lessons in this article.  What looks good on paper may not be!

Excerpt: Before targeting a white space do a simple thought experiment: put yourself in the shoes of its natural “owner.” As Innosight Ventures Partner Pete Bonee explains it, “Ask yourself, with some degree of discipline: Why hasn’t this been done before? Who are the people who might have done it? Did they try? Why did they or didn’t they? If the business opportunity is obvious to us why hasn’t it been obvious to other smart people? What do they know that we don’t?”

Read full article via Don’t Make These Mistakes When Entering a New Market – Scott Anthony – Harvard Business Review.

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The Ins and Outs of Creating a Saleable Product

Guest Post by PR Food Company (see byline)

“You can’t sell ice to Eskimos,” as they always say – even with the smoothest sales pitch, the product itself needs to be worth buying in order to secure a sale.

But there are certain products that push even the limits of this tongue-in-cheek rule, such as the successful market for bottled water, a commodity that literally falls from the sky on a daily basis.

So how do you eke the maximum possible success from your new product? Well, from its initial formulation, to appointing a specialist food PR company – here are just a few things to keep in mind.

1. Source Your Ingredients

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Whether you’re manufacturing foods for retail sales, working in a hospitality environment, or even supplying ingredients for use further down the supply chain, think about where those ingredients come from.

More and more people now look for ethical ingredients – Fairtrade, organic, or simply locally sourced produce are all watchwords in the modern food and drinks industry.

2. Carve Your Niche

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On top of the credentials of your ingredients, think about what niche your finished product is filling. It doesn’t need to be rocket science – The Saucy Fish Co. are an example of how a simple idea – packaging fish with sauce – can create a distinctive and successful business model almost without any effort.

3. Choose Your Allies

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It’s not just about finding customers – you can also partner with other producers to show off your goods in knockout pairings.

Fish and chips, strawberries and cream, wine and cheese – food and drink have gone together in perfect pairings for generations, so if you’re producing half of one of those classic couplings, think about teaming up with another producer who complements your product range.

4. Plan Your Launch

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Once you’re ready to launch your product, make sure you’ve planned when, where and how you’re going to do it.

From high-street samples of energy drinks, to farmer’s markets and invitation-only restaurant launches, there are countless options open to you, whatever food or drink you create.

5. Expand Your Range

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Got one good product? As it becomes better established, you might want to start thinking about expanding your range into related areas or different flavours.

The same rules apply – make sure you’re building on your brand’s existing credentials, and filling a legitimate niche, and your new products have a greater chance of success.

6. Find Your Voice

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Even if your product doesn’t have a distinguishing element of its own, you can create a unique identity through your marketing efforts.

Take Innocent Drinks as an example – simple smoothies, but instantly recognisable by their quirky packaging, chatty text style, and underlying commitment to environmental issues.

7. Tell Your Story

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Food is a uniquely emotional industry – people are passionate about good food, and that includes the people who produce food and the people who consume it.

If your business has its own back-story – like Levi Roots’ Reggae Reggae Sauce – don’t be afraid to put that passion on display and let people know that a real labour of love went into your recipe development.

8. Spread the Word

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The best of products is no good if nobody knows it exists. Get the word out there about your new delicacy, whatever it may be.

Whatever your area of specialty, there’ll be a marketing company out there to match it, and that gives you the best chance of promoting your product in a way that connects best with your target audience.

This article was presented to you by food PR company – Sauce Communications in London’s Woodstock Grove studios, a specialised food and drink public relations agency, marketing, branding and design consultancy for bars, pubs restaurants hotels.   Sauce Communications have worked with top-name chefs, Michelin-starred restaurants and premium drinks brands, among others.

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Demand and Sales Aren’t Equivalent – HBR

Good read sales management.

Excerpt:  Steve Carlotti, CEO of the company where I work, likes to say: “Sales is what you buy. Demand is what you want. Growth comes from bringing the two together.” As companies try to exploit the opportunities presented by Big Data, the difference between those two things is an essential insight.

Most executives assume that sales equal demand. Very often, this couldn’t be further from the truth. The challenge with sales data is that it is too superficial. First, shopping occurs at the household level, but demand is at the individual level.

Read full article via Demand and Sales Aren’t Equivalent – Eddie Yoon – Harvard Business Review.

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Analyzing a Startup, and Pivoting

Recommended for all entrepreneurs and startups.  The article addresses the basic thought process and includes some how-to —  important launch direction in your role as entrepreneur

Excerpt:  I’m involved in two startups. In both cases, we are going through the process of developing a model that evaluates all aspects of the business — our target customers, products and services, organization, infrastructure, channels, financial projections, and funding needs.

In particular, the process of building a solid financial model forces you to think through things like payroll costs, equipment purchases, research and development, sales channels, and even office space. I found myself adding new elements to every part of our business model as I focused on the financial aspects.

I was reminded this week of how important it is to view them all as a whole instead of as the individual parts. I will share the details on one of those startups in this article.

Read full article via Analyzing a Startup, and Pivoting | Practical eCommerce.

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The Logic Behind E-Tailers’ Mercurial Pricing – HBR

Hey guys, did you know this?   I can say as a consumer I was aware but this article is really a heads up that is far beyond my awareness.  As an retailer, are you matching your competitors in taking advantage offered with the internet marketplace?  Recommended read from either consumer or retailer side of the fence!

 Excerpt:  The Wall Street Journal recently broke a story which revealed two surprises about the pricing practices of Internet retailers: Prices change often and widely. The Wall Street Journal highlighted, for example, the range of prices for a GE microwave. In one day, sellers on Amazon.com changed their prices nine times, resulting in prices fluctuating between $744.46 and $871.49. During that same period, rival Best Buy raised its price on the same kitchen appliance to $899.99 and then later dropped it to $809.99.

So what’s going on here?

Internet retailers have discovered that the web is a perfect setting to optimize prices. It is almost costless for e-tailers to change prices, and it’s equally easy to measure customer reactions. Given this fertile price-changing environment, Internet retailers are varying prices for 5 key reasons:

Read full article via The Logic Behind E-Tailers’ Mercurial Pricing – Rafi Mohammed – Harvard Business Review.

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Your Company Needs A Mobile Strategy Yesterday–And These Numbers Prove It

More advice on your mobile campaign — or if you don’t yet have a mobile campaign, this is a serious heads up.

Excerpt:  …….  seen how powerful mobile marketing has been for my clients and others. Here are a few examples:

A mobile-based loyalty program for Maurices, a chain of women’s clothing stores, was directly responsible for jump-starting $1 million in sales in only four months.

A text message list helped Pacha, a New York City nightclub, realize $12,400 in additional income.

A Foursquare check-in campaign boosted short-term revenues at Angelo & Maxie’s, a Manhattan restaurant, by $18,000.

These are only three examples of many success stories I’ve witnessed–and yet, the really shocking statistic when it comes to mobile marketing is how few big brands are doing it. According to a report from eMarketer, mobile advertising accounted for less than 1% of worldwide ad spending in 2011.

Read full article via Your Company Needs A Mobile Strategy Yesterday–And These Numbers Prove It | Fast Company.

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Filed under Business Intelligence, IT, Data Management, Metrics, Cloud & Mobile, Marketing, Branding, Sales, Advertising, eCommerce & Social Media

For Social Media Buy-in, Lead with the “Why” – HBR

Good read and great advice.   Your campaigns, as we have been saying in many other posts in the past, need to use what science, namely neuroscience, can now show you is your customer’s motivators.  Marketing, advertising and sales.

Excerpt:  It’s been said that people don’t buy what you do, they buy why you do it. So the goal is not to connect with people who want what you have; the goal is to connect with people who believe what you believe. This isn’t my opinion. It’s a powerfully proven fact based on the study of the human brain, which Simon Sinek explains here.

Traditional advertising and marketing leads with the what, such as, “We make desirable cars with great gas mileage.” Then it moves to the how, such as “We do this with great engineers and the best materials.” If you’re lucky, you may get a why at the end, but the why really usually boils down to, “We want to sell you a car.”

Now we have evidence — science! — that says you’ll get a better response by leading with the why.

Read full article via For Social Media Buy-in, Lead with the “Why” – Amy Jo Martin – Harvard Business Review.

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“I’m Still Standing,” Say Consumers

For all small business with year end holiday sales in mind.   Study gives you results to help you plan your campaigns.

Excerpt:  This holiday season, U.S. polls are reporting more confidence in the economy — but not because consumers have more money to spend than they did last year. Indeed, because the economy is still sputtering, overall retail sales this holiday season are likely to be flat or only slightly up. The confidence may instead be coming from a shift in expectations and habits. Recession-driven consumer shopping patterns that many people assumed were temporary are now becoming permanent. Retailers have adjusted many old practices since 2008, and they have some grounds for optimism — but only if they continue to be capable of rapid change.

Read full article via “I’m Still Standing,” Say Consumers.  From Strategy + Business –  Booz & Co

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