The Tortoise and the Hare - Part 2
Commentary by Bill Napier, Social4Retail.com
The first part of this series discussed how Amazon is going to build massive local distribution centers near your business and offer customers instant gratification. Also, how Amazon will win the race in search, product selection, price and now delivery. The commoditization of “everything” is now your largest competitor. If you missed the first part, CLICK HERE
to read it before going any further.
Are you scared of technology, confused with all the psychobabble on the internet and social marketing strategies? Or are you subscribing to a strategy of HOPE that everything will be OK soon like the good old days….maybe the internet will go away?
Consider these 3 simple ideas to compete with these huge on-line predators:
1. Price tier #1
- See it, buy it, wait for it and save $$$$ - Use your suppliers and white glove delivery services to perform "direct ship" options to the consumer from the supplier’s warehouse by passing on the savings you’d have with handling/stocking and incremental shipping costs. The suppliers can essentially "cross dock" the product and deliver to the consumer.... (You could offer curbside, threshold or complete white glove. Geez, isn't that the Amazon Model?
2. Price tier #2
- Buy it today - take it home today. Charge consumers a bit more for the convenience of having it in-stock. Show the consumer at the POS how much more they will pay vs. buying on-line and waiting. Either way you win here, think about it
3. Guarantee the pricing formula.
Consumers will shop around, BUT if they believe the low price guarantee platform, they will gravitate to what/who they know and trust first, especially if they can see/talk/interact with a real brick and mortar person/platform should they have a concern or problem. No one wants to be put on hold, go through the ubiquitous PRESS #1, etc, especially on a big ticket item, and especially if you’re having a problem
If your goal is to implement a great brick and mortar strategy, you need to develop a compelling promise! Much like traditional marketing, the goal for a brand is to promote the brand/product as a promise. Give customers all the information, resources, everything they want and need to help them with their buying decision and convince them your store is the place where they will achieve ALL of their purchase and service objectives. If you don’t, believe me someone else will! Take a look at Sheely’s Furniture on-line internet presence at www.sheelys.com
and how they promote their “Brand”.
Sheely’s has made an investment to educate, inspire and motivate the consumer to do business with them. They’ve integrated an awesome website with thousands and thousands of items for consumers to shop, videos that educate the customer as to why Sheely’s is different and why you want to do business with them. Just take a look at these three videos on their website:
1. “Why Shop at Sheely’s”
2. “We Service What We Sell”
3. “A look inside Sheely’s Customer Service”
The on-line “only” sellers don’t and really can’t do this and Sheely’s is taking them head on. KUDO’S To Sherry Sheely!
If you truly study the way consumers shop today “on-line”, understand what they want, how they want to receive the information, where they want to find it and the platforms they want to receive it on, the consumer will respond to your strategic investment with a visit to your store and hopefully purchase your product….if you fulfilled your brand promise. What’s a brand promise you ask? That will be our next discussion. It’s not what you think it is, believe me, the meaning of a Brand Promise has significantly changed today too.
There are many more ways to win here, but I don’t want to write a book in this blog. (You can read and download tons of marketing ideas, internet and social strategies, retail marketing plans and more on our website: www.social4retail.com).
You must change and change requires a lot of time, passion, commitment and yep….money to win.
Consider the alternative; you are the tortoise slowly moving toward the finish line. As you cross the finish line you realize: “You lost the race”. Now you must invest your remaining resources in a Liquidation Sale so people will come and buy your product”.
Comments? Questions? Contact Bill Napier, Napier Marketing Group, Inc.
firstname.lastname@example.org 612-217-1297 or visit www.social4retail.com
About Bill Napier: About Bill Napier: Bill is a specialist in creating, guiding and deploying successful marketing B2B & B2C solutions integrating traditional marketing strategies with the web and social media. He has worked in the home furnishings industry for over 12 years, as the chief marketing officer for some of the industry's largest manufacturers and creating some of the largest promotions ever launched within the industry.
Furniture World Magazine-Business solutions for furniture retailers