Where’s the ROI for Social Media?

AN INSTANT POLL that recently appeared on the home page of CPGmatters.com sheds some light on an important part of social media evaluation; namely, Return On Investment. Every CPG company of consequence has a social media strategy nowadays.

So do marketers think social media is a success?

ShopperTech.org
This article originally appeared on ShopperTech.org

Not really, say nearly nine of ten executives who took part in the poll. Only 12% say that social media is a success in CPG. Three of four respondents say concern over ROI is holding back success:

  • There is not enough ROI so far to be a success (19%)
  • It is very difficult to measure ROI at this time (56%).

Meanwhile, 12% say it’s too early to determine the success of social media in CPG.

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SCAMP: Deconstructing Shopper Experience in a Big Data World

Click to view recorded forumHOW SHALL WE UNDERSTAND SHOPPER EXPERIENCE in the present era of digital and social media immersion outside the store?

I’ve been insisting for some time now that the walls of the store are dissolving before our eyes as shoppers arrive pre-conditioned, pre-considered, even pre-decided due to their SoMoLoMe experiences outside of the building. Earlier this month I had the privilege of sharing some ideas about the flip side of this equation as participant in an excellent webinar, “Digital Disruption and the Retail Experience: Earning Loyalty in the Age of Empowered Consumers.”

The event was part of the Customer eXperience Thought Leader Forum series, produced by our good friends at CustomerThink. Conformit sponsored. I joined Miguel Ramos, Mobile Practice Lead at Confirmit, to explain how the retail enterprise can be re-engineered for success in the age of empowered consumers.

Download Presentation (PDF format)To make my points, I updated SCAMP, a model I developed for understanding customer experience in the physical store. The new wrinkle was to examine with a few examples how social, mobile, and digital experiences are influencing retail experience engineering in an era where Big Data flows can overwhelm store data. SCAMP is a model with five pillars: Service, Convenience, Ambiance, Merchandising, and Price, I originally proposed here in TensersTirades in 2008.

I invite you to click the images above to access the full webinar recording or to download a PDF copy of the slide deck.

© Copyright 2014 James Tenser

Invoking Relevance

RelevanceBEST PRACTICE IN MOBILE ADVERTISING remains an oxymoron, as marketers grapple with the natural tension between intrusiveness and usefulness. There is a strong drive to justify ad spending and validate the business premise behind personalized promotions. Relevance seems to be the key, we are told, and the unique data-capturing and consumer-tracking capabilities of mobile devices should materialize a marketer’s nirvana in which every message is on-target and welcomed.

Recent consumer research from PriceWaterhouseCoopers suggests that this formula may need to be applied with greater subtlty, however.  In Mobile advertising: What do US consumers want?, PwC researchers find, “There is an overall aversion to the prevalence of mobile advertising. Even ads that are relevant to personal interests do not directly translate to ad interest or engagement.”

This poses a challenge indeed, since according to PwC, “The biggest challenge is to leverage the knowledge of how consumers are using mobile to improve monetization from ad delivery.”

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Independent Grocers – 3 Ways to Gain a Trade Promotions Edge

NGA, LAS VEGAS – When it comes to capturing their fair share of impact from trade deals, independent grocers have long struggled to match their crosstown, big-chain rivals. Scale is a key challenge. The effort and resources required to identify, negotiate, accept, implement and publish a single promotion are the same, whether the execution is for 12 stores or 1,200.

Big chains may spread these tasks across more hands, but they also suffer from promotion practice logjams and disconnects that may tend to neutralize their advantage, due to versioning complexity, duplication of effort, review and rework.

Make the Effort-to-Benefit Ratio Work for You

The opportunity is open for smaller retailers – who are inherently more consolidated, nimble and fleet of foot – to gain an edge in the promotions game. It comes down to defining and enabling promotion practices that permit streamlining and collaboration across the enterprise. Independents should explore three areas of present opportunity:

  • Streamline and connect your processes. Neutralize the scale advantage by making promotion decisions faster and adopting disciplined executional processes that offset the differential effort. Use automation to reduce and simplify steps and ensure that correct information is in play across functional areas of your business. Harmony is enabled when you successfully align the creative process with the business decisions.
  • Collaborate within your enterprise. Structure your ad process for collaboration and design connectivity throughout the lifecycle of each promotion, from planning, to execution, to measurement. Establish a consistent workflow with roles defined, assigned and tracked.
  • Collaborate with your vendors. Establish a portal-based system that transfers responsibility to vendors to enter complete information about each offered deal and makes it better for them to do so. Online accuracy will make faxes, emails and paper forms a thing of the past. Negotiations and decisions will commence faster while minimizing the need for reviews, changes and reconciliations.

These trade promotion management capabilities are enabled by software solutions but rooted in best practice. They are quite readily available now, and adopting them can be far less disruptive than you might think, especially where web-based technology is available.

The right promotional tools and processes can enable independents to exploit their natural advantages to win with shoppers and capture a fair share of deal profits.

© Copyright 2014 James Tenser
(This article was originally commissioned by Aptaris LLC. Permalink. Republished here by permission. All other rights reserved.)