Increase retail sales through streetsmart digital segmentation ssv

1,267 views
1,129 views

Published on

How Do you Increase Retail Sales by 50%?

Answer: Through Effective Digital Segmentation of People who walk-in to your Retail Store. Count. Classify. Communicate.

The Aida, Lorna and Fe analogy represents a simple but effective segmentation of Walk-ins.

This 20 minute lecture was created for the Merchant Meeting of Ayala Center Cebu held at the City Sports Club last Nov. 25, 2011. Attendees included around 200 tenants of the mall.

The event was made possible through the leadership of Ms. Joy Polloso, GM of Ayala Center Cebu and the generous support of the Ayala group and Moldex Products Inc.

Published in: Business, News & Politics
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,267
On SlideShare
0
From Embeds
0
Number of Embeds
357
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Increase retail sales through streetsmart digital segmentation ssv

  1. 1. Si Aida, si Lorna o si Fe? Increase Sales by 50% •Thru Street-Smart Digital Marketing Bong De Ungria Certified Digital Marketer
  2. 2. BackgroundThis 20 minute lecture was created for the Merchant Meeting of Ayala Center Cebu held at the City Sports Club last Nov. 25, 2011. Attendees included around 200 tenants of the mall.The lecture was made possible through the leadership of Ms. Joy Polloso, GM of Ayala Center Cebu, and the generous support of the Ayala group and Moldex Products Inc. Bong De Ungria COO, Moldex Products Inc Marketing Professor, Ateneo
  3. 3. Outline: Si Aida o si Lorna o si Fe?Increase Sales by 50%1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  4. 4. Outline: Si Aida o si Lorna o si Fe?Increase Sales by 50%1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  5. 5. We live in a new linked &digitized world, Web 2.0 http://www.hypermarketing2.com/2011/06/web-20-whole-new-world.html
  6. 6. http://www.hypermarketing2.com/2011/06/web-20-whole-new-world.html
  7. 7. Digital stuff in last 3 daysthat were not possible 3years ago…1. On-line booking, check-in2. SMS of son school entry/exit3. Virtual Class on Facebook4. This lecture available 24/7 forever…5. What some retailers are doing…
  8. 8. Outline: Si Aida o si Lorna o si Fe?Increase Sales by 50%1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  9. 9. Virtual retail sellers are nowsending 50% off promos via email
  10. 10. Even mall- based retailersuse email to sell…
  11. 11. Even leading malls use customer-segmented VIP programs
  12. 12. Promo only for a selectedfew but only if they SWIPE
  13. 13. Regular email (not 100% read)has a chance. No email = zerochance of sale
  14. 14. Groupon offers options of daily or weeklyemail, but I have not shifted weekly for fearof missing an important offer! Unread emailis not intrusive
  15. 15. Pizza Hut uses email from itsPalm Card campaign for an emailpromotion
  16. 16. Modern retail rule-Complement your mall-basedretail store with a virtual store!
  17. 17. Outline: Si Aida o si Lorna o si Fe?The only acceptable responseto the retail challenge? 1. Our Digital Perspective 2. The Retail Challenge 3. Marketing Basics 4. Street Smart Research 5. Guaranteeing Long Term Growth
  18. 18. Transform from where youare right now!
  19. 19. Transform!
  20. 20. Effective branding works! Especially when there is competition You don’t have to use a sales discount to SELL!
  21. 21. The “Joy” of being thepreferred brand… http://www.hypermarketing2.com/2011/11/coke-vs-pepsi-example-of-brand-loyalty.html
  22. 22. The “Joy” of competition…Extra mile = 2 cans http://www.hypermarketing2.com/2011/11/coke-vs-pepsi-example-of-brand-loyalty.html
  23. 23. Outline: Si Aida o si Lorna o si Fe?Increase Sales by 50%1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  24. 24. I use a Heart model to explainmarketing principles…
  25. 25. Learn on-line:“I Love Marketing” basics http://www.josephdeungria.com/2011/08/marketing-101.html
  26. 26. How to SEGMENT, TARGET, POSITION (Ready, Aim, Fire!) Excerpts from the “I Love Marketing Model” Developed by Prof. Bong De Ungriafor the Ateneo Graduate School of Business
  27. 27. From the “I Love Marketing Model” of Prof. Bong De Ungria Step 1Divide the market into Segments (similar needs, wants & demands)
  28. 28. From the “I Love Marketing Model” of Prof. Bong De Ungria Step 1aEffective segmentation is when distinct,accessible, measurable groups are produced 28
  29. 29. From the “I Love Marketing Model” of Coach Bong De Ungria Step 2Choose your primary target market (PTM)Apologies to SM Shoemart and Ayala Malls, but marketing says… BUT, YOU CAN’T HAVE IT ALL, YOU CAN’T LOVE ‘EM ALL
  30. 30. From the “I Love Marketing Model” of Coach Bong De Ungria Step 3Target your PTM with your positioning(communicate benefits)
  31. 31. From the “I Love Marketing Model” of Coach Bong De Ungria Step 3a To hit your PTM, adjust your marketing mix (4Ps) PromoProduct Place Price
  32. 32. From the “I Love Marketing Model” of Coach Bong De Ungria Step 3b Some PTMs require a mix which emphasize product and promo PromoProduct Place Price
  33. 33. From the “I Love Marketing Model” of Coach Bong De Ungria Step 3c Many PTMs require a heavy price mix PromoProduct Place Price
  34. 34. From the “I Love Marketing Model” of Coach Bong De Ungria Step 3d Your PTM requires strategic and tactical mix adjustments PromoProduct Place Price
  35. 35. From the “I Love Marketing Model” of Coach Bong De Ungria Step 3e Aim well as your competitors are targetting the same PTMs PromoProduct Place Price
  36. 36. 3. Marketing BasicsDiff. Strokes for Diff. folksAida Lorna Fe
  37. 37. What do you do when Aida,Lorna, Fe enter your store?1. Do you give them the same treatment?2. Do you get the same revenue from them?3. Will all of them come back?
  38. 38. Not all customers are equalSome are more important than others!
  39. 39. Not all customers are equalSome are more important than others! PARETO principle: 80% of revenue comes from 20% of customers
  40. 40. 4. Street Smart- Market Research Aida, Lorna or Fe?1. LORNA2. AIDA3. FE
  41. 41. 4. Street Smart- Market Research Aida, Lorna or Fe?1. LORNA – REPEAT BUYER2. AIDA - SWITCHERS3. FE - NOT YOUR TARGET MARKET; - LOW CHANCE
  42. 42. 4. Street Smart- Market Research Aida, Lorna or Fe?1. LORNA – REPEAT BUYER 10%2. AIDA - SWITCHERS 60%3. FE - NOT YOUR TARGET MARKET; 30%
  43. 43. 4. Street Smart- Market Research Aida, Lorna or Fe? pax Peso1. LORNA – REPEAT BUYER 10% 40%2. AIDA - SWITCHERS 60% 50%3. FE - NOT YOUR TARGET MARKET; 30% 10%
  44. 44. What is Ayala Center Cebuto a retailer?1. Problem Solver  People Magnet (Gatherer)  Customer Comfort (Aircon, CR)  Security  Transport Convenience2. Brand Builder
  45. 45. Retailers are Problem Solvers;Solution Providers New Retail Mindset
  46. 46. Retailers are Problem Solvers;Solution ProvidersSolve the problems of your customers!
  47. 47. Outline: Si Aida o si Lorna o si Fe?Increase Sales by 50%1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  48. 48. 4. Street Smart- Market Research Understand your customer!1. Counter2. Classifier3. Analyze your sales mix4. Record what they looked at but didn’t buy5. Be their friend on FB6. Find a way to get their cellphone number or email!7. Bottomline, may them REPEAT, Lifetime customers
  49. 49. Outline: Si Aida o si Lorna o si Fe?Increase Sales by 50%1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  50. 50. Everyone who enters your retail store Is an Aida, a Lorna or a Fe!
  51. 51. 5. Guarantee Long Term Growth Aida, Lorna or Fe? Pax Peso Increase!1. LORNA – REPEAT BUYER 10% 40% return!2. AIDA - SWITCHERS 60% 50% convert!3. FE - NOT TARGET 30% 10% try! - LOW CHANCE
  52. 52. Come On!
  53. 53. In Summary,What Do We do In Retail?
  54. 54. Serve Aida, Lorna & Fe
  55. 55. Serve Aida, Lorna & Fe Dance with Aida,
  56. 56. Serve Aida, Lorna & Fe Dance with Aida, Marry Lorna
  57. 57. Summary: Si Aida o si Lorna o si Fe?Increase Sales by 50% thruStreet-Smart Digital Marketing1. Our Digital Perspective2. The Retail Challenge3. Marketing Basics4. Street Smart Research5. Guaranteeing Long Term Growth
  58. 58. Si Aida, si Lorna o si Fe?Was made possible through the generous support of
  59. 59. Si Aida, si Lorna o si Fe? Increase Sales by 50% •Thru Street-Smart Digital Marketing Bong De Ungria Certified Digital Marketer

×