Increase retail sales through streetsmart digital segmentation ssv

Si Aida, si Lorna o si Fe? Increase Sales by 50% •Thru Street-Smart Digital Marketing Bong De Ungria Certified Digital Marketer

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

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

We live in a new linked &digitized world, Web 2.0 http://www.hypermarketing2.com/2011/06/web-20-whole-new-world.html

http://www.hypermarketing2.com/2011/06/web-20-whole-new-world.html

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…

Virtual retail sellers are nowsending 50% off promos via email

Even mall- based retailersuse email to sell…

Even leading malls use customer-segmented VIP programs

Promo only for a selectedfew but only if they SWIPE

Regular email (not 100% read)has a chance. No email = zerochance of sale

Groupon offers options of daily or weeklyemail, but I have not shifted weekly for fearof missing an important offer! Unread emailis not intrusive

Pizza Hut uses email from itsPalm Card campaign for an emailpromotion

Modern retail rule-Complement your mall-basedretail store with a virtual store!

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

Transform from where youare right now!

Transform!

Effective branding works! Especially when there is competition You don’t have to use a sales discount to SELL!

The “Joy” of being thepreferred brand… http://www.hypermarketing2.com/2011/11/coke-vs-pepsi-example-of-brand-loyalty.html

The “Joy” of competition…Extra mile = 2 cans http://www.hypermarketing2.com/2011/11/coke-vs-pepsi-example-of-brand-loyalty.html

I use a Heart model to explainmarketing principles…

Learn on-line:“I Love Marketing” basics http://www.josephdeungria.com/2011/08/marketing-101.html

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

From the “I Love Marketing Model” of Prof. Bong De Ungria Step 1Divide the market into Segments (similar needs, wants & demands)

From the “I Love Marketing Model” of Prof. Bong De Ungria Step 1aEffective segmentation is when distinct,accessible, measurable groups are produced 28

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

From the “I Love Marketing Model” of Coach Bong De Ungria Step 3Target your PTM with your positioning(communicate benefits)

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

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

From the “I Love Marketing Model” of Coach Bong De Ungria Step 3c Many PTMs require a heavy price mix PromoProduct Place Price

From the “I Love Marketing Model” of Coach Bong De Ungria Step 3d Your PTM requires strategic and tactical mix adjustments PromoProduct Place Price

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

3. Marketing BasicsDiff. Strokes for Diff. folksAida Lorna Fe

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?

Not all customers are equalSome are more important than others!

Not all customers are equalSome are more important than others! PARETO principle: 80% of revenue comes from 20% of customers

4. Street Smart- Market Research Aida, Lorna or Fe?1. LORNA2. AIDA3. FE

4. Street Smart- Market Research Aida, Lorna or Fe?1. LORNA – REPEAT BUYER2. AIDA - SWITCHERS3. FE - NOT YOUR TARGET MARKET; - LOW CHANCE

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%

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%

What is Ayala Center Cebuto a retailer?1. Problem Solver  People Magnet (Gatherer)  Customer Comfort (Aircon, CR)  Security  Transport Convenience2. Brand Builder

Retailers are Problem Solvers;Solution Providers New Retail Mindset

Retailers are Problem Solvers;Solution ProvidersSolve the problems of your customers!

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

Everyone who enters your retail store Is an Aida, a Lorna or a Fe!

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

Come On!

In Summary,What Do We do In Retail?

Serve Aida, Lorna & Fe

Serve Aida, Lorna & Fe Dance with Aida,

Serve Aida, Lorna & Fe Dance with Aida, Marry Lorna

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

Si Aida, si Lorna o si Fe?Was made possible through the generous support of

Si Aida, si Lorna o si Fe? Increase Sales by 50% •Thru Street-Smart Digital Marketing Bong De Ungria Certified Digital Marketer

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Increase retail sales through streetsmart digital segmentation ssv

by Remigio Joseph DeUngria on Nov 25, 2011

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Increase retail sales through streetsmart digital segmentation ssv — Presentation Transcript