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The document discusses a summer intern project at Sherwin-Williams focusing on increasing their market share in the DIY segment. Research found that most DIY customers shop at big box stores due to Sherwin-Williams being perceived as too expensive or inconvenient. The intern recommends strategies like increasing sales promotions, improving marketing, partnering with influencers, holding DIY seminars, and promoting Sherwin-Williams services to attract more DIY customers and gain a 53% return on investment.
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Improve Your Digital Experience to Drive More Revenue - Alp Mimaroglu, Sysco
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PR News Digital PR Summit Feb 16, 2012 San Francisco
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Distribution channels for beginners presentation mar2015
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Similar to intern_presentation (20)
Improve Your Digital Experience to Drive More Revenue - Alp Mimaroglu, Sysco
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intern_presentation
- 1. ROOM TO GROW: A FOCUS ON DIY Summer Intern Program at Sherwin-Williams
- 2. INTRODUCTION • Name: Kristina Miller • College: Southern Illinois University – Carbondale • District: Tri-State (Evansville, IN) • Project Title: Room to Grow: A Focus on DIY
- 3. THE ISSUE PRESENTED • How do you increase market share over big box stores (i.e. Menards, Lowes, Home Depot)? • Examine: DIY v. Contractor Market Segments • Bottom Line: Increased focus on overall DIY market • Figure out who isn’t buying & why • Increase sales • Create market growth • Focus on sundry promotion & sales
- 4. DIY SURVEY RESEARCH • 41.93% under 35 years old • 16.13% shop at S-W for paint products • 74.19% at Big Box • 67% never shopped at S-W • Market suggestions: • More sales and specials • Price match/accept big box deals • Improve marketing Recommend professionals to help DIY Additional Issues at Hand • Why they never shopped with S-W: • 0% didn’t like our products • 13.64% too expensive • 36.36% never considered it an option • 40.91% no location nearby • 9.09% only come in for swatches & to look • 12.5% inconvenient
- 5. ADDITIONAL RESEARCH • Visited local competion • S.I. Paint Supply • Lowes • Please see “Price Comparison Handouts” • SURVEY SAYS: • 25% think S-W is too expensive & not worth the extra money • 3.23% shop at S-W for sundry items • 64% at Big Box
- 6. REASONING AND CONSIDERATION • Price, Cost, Product Value and Quality vary in importance to customers. • Price & Value/Quality Relationship • Brand Image • My DIY Survey and our store’s Guest Satisfaction Surveys indicate: • Price is a contributing factor to less sales frequency • Addressing the inconvenience factor: • S-W is a specialty store • Get in their consideration set!
- 7. STRATEGIZE AND CONQUER • Naturally, people are more inclined to visit during sales. • Therefore: Increase the frequency of sales and boost marketing promotion efforts. • More than ¾ of DIY buyers are women. • Co-Branding & endorsements • Pottery Barn • HGTV • Quarts • Hold DIY seminars & community outreach to educate consumers • Differentiate from the competition! • Promote the S-W services and resources (like “Need a Pro?”). • S-W Apps are highly rated on the Google Play Store. • Have kiosks or iPads available in store to access these apps
- 8. RETURN ON INVESTMENT • Greater profitability from DIY sales • If 36.36% that never considered S-W did & purchased 2 gal. of SuperPaint with a 30% off sale: • SuperPaint Store Cost: $24.17/gallon • 36.36% x 31 people = 11 people never considered S-W • 22 x $37.10/Gallon = $816.05 • $816.05 x approx. 3,500 stores ≈ $2,856,175 • 22 x 247.17 = $531.74 • $531.74 x approx. 3,500 stores ≈ $1,861,090 (Gains-cost) = ROI Cost ($2,856,175 - $1,861,090) = 53.47% ROI $1,861,090
- 9. TO CONCLUDE… • Sherwin-Williams hold the majority of the commercial market segment. • Big Box stores see the majority of DIY sales. • Target DIY via: • Quality economical products • Continue and pursue endorsements & co-branding • Increase # of percent-off sales • Improve and increase marketing efforts • Create new ways to differentiate from the competition. • Ultimately, see a return on investment!