The Five Yeses of Retail Tech Marketing

five yeses tensers tirades

IF YOU HAVE a great retail technology solution to offer, five yeses control your future.

You already know – more or less – who the decision-makers are at each target account: the CIO, the head of store operations, the head of merchandising, the CFO, and the CEO.

Each of these individuals has the power to say “no.” If your solution doesn’t seem to align with one of their objectives, the game may be over. You need all their heads nodding to close the sale. Is your story designed to be persuasive to all five yeses?

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Millennials: The Next ‘Pig in the Python’

FOR GRAYING BABY BOOMERS like me, the awesome power of demographics has in many ways defined our lives. There are a lot of us. We clogged our kindergartens, our universities, our workplaces, our media, our politics and our communities with sheer numerical might; and the retail marketing universe seemed to revolve around our needs and our sense of entitlement.

In his 1980 book, Great Expectations, author Langdon Y. Jones called this phenomenon “a pig in a python” – a rather visceral visualization of how the boomers’ demographic bulge has traveled through America’s culture, distorting as it goes.

Along the way we also had a lot of kids. So many, in fact that we engendered an echo boom that is numerically larger than our own. In case you haven’t noticed, those 75 million “millennials,” as the demographers like to call them, now largely dominate cultural, political and marketing discourse. Not to mention our consumer economy – the 18-34 cohort wields $2 trillion in purchasing power.

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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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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.)
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