I think too many shoot for perfection and in getting a 1:1 relationship with a customer. And while we always want to strive for excellence in this way, we have to make progress. Getting better and better day by day, customer by customer. This means as we get stronger and better tools, more data we can get more intimate with the customer. Think about the messaging you get in your email or targeted ads on your device or TV. How relevant are they for you? Does it hurt or help? We have tools to make these add more value to the consumer and business.
We live in a more frictionless world. Amazon has changed the way we think about putting the consumer in control and also how brands partner with a retailer to provide the customer what they want. These tools should be similar for all retail businesses but this has not been the focus. Shifting the paradigm from task to customer is vital and will open up so much for brands and retailers, ultimately, providing the best experience for the shopper.
The only true way to know if you are successful is measurement. This requires transparency from all sides and an understanding that switching or shifting is not a measure of a sustainable success for a retailer. The lift of just the brand is short lived success and ultimately does more harm than good. You have to understand all the other factors and have realistic expectations and goals and work toward them.
Just like any media planning you must decide where to invest your resources. If they are owned channels like the retailer’s website or POP or external like SEO or industry placement or publications, the key is to pick the right channels and be agnostic. It is always easiest to go with what you know, however, it isn’t always the best. Experiment with controlled groups and look for expanding the channels. Measure Measure and Measure.
The position continues to grow and evolve. This is an exciting time for these people. The first factor I look for is openness and flexibility in the person. Next I look for someone that is very focused on data and facts and leave emotion out of the decision. Lastly, the person must be a student of the industry and always exploring and looking for what’s around the corner.
The change we see in the way the shopper interacts with retailers has shifted dramatically as the expectations of a better customer experience is required. What this means to a retailer, depends on the “brand promise” they are trying to deliver. Like anything else if you are passionate about the customer/shopper you will realize the shortcomings and make the adjustments real time. While this sounds easy, retailers are usually cautious and slow to move and change. Covid-19 has shown new agility for retailers and new muscles. Now is the time to take advantage of those new capabilities and stay out in front.
Yes it was probably not called a campaign at that time (2005) but it was successful and fun to execute. I can’t share details, but it was at Walmart and we leveraged data to look at a few things prior to the campaign. Price elasticity was the most important as we needed to understand if the effort would be worth it. We found what we thought was a sweet spot for the items and look at channels to get our message out regarding the messaging. As a reminder, Walmart is an Everyday Low Price retailer, meaning they don’t use coupons and have sales. We decided to move the retail on most of this category for Walmart’s private label and use
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