New Re­port Ex­am­ines Shop­per Mar­ket­ing Trans­for­ma­tion

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Times & Trends un­cov­ers enor­mous op­por­tu­nity for com­pa­nies to reestab­lish and hone shop­per re­la­tion­ships. Here’s a de­tailed look. The most amaz­ing prod­ucts, with in­cred­i­ble ad­ver­tis­ing, in an im­pec­ca­ble store with the per­fect as­sort­ment are noth­ing with­out one crit­i­cal fac­tor: shop­pers. And, to­day’s shop­pers are more unique, de­mand­ing and in con­trol than ever be­fore. They make in­di­vid­ual de­ci­sions about what they will buy, how much they will pay for it and where they will go to get it. To pro­vide de­tailed in­sights into the power of shop­per mar­ket­ing trans­for­ma­tion, Sym­pho­nyIRI Group just re­leased its lat­est Times & Trends Re­port, “Shop­per Mar­ket­ing: Ev­ery De­ci­sion Be­gins & Ends with the Shop­per.” It is crit­i­cal to un­der­stand the changes in the mar­ket­place that are driv­ing the evo­lu­tion from prod­uct-based busi­ness philoso­phies to shop­per­fo­cused strate­gies. The com­bi­na­tion of a vast brick-and-mor­tar re­tail space and in­nu­mer­able In­ter­net-based sites means shop­pers have end­less choices of where and how to shop. Thanks to in­cred­i­ble growth in in­stant, eas­ily ac­ces­si­ble dig­i­tal, so­cial and mo­bile com­mu­ni­ca­tion plat­forms, shop­pers can spend just a few min­utes on­line to gather in­for­ma­tion that al­lows them to make smarter choices at home, on-the-go and in the store, and that has fun­da­men­tally changed how shop­pers in­ter­act with com­pa­nies, prod­ucts, ser­vices and stores. “To build strong and grow­ing re­la­tion­ships at the in­di­vid­ual shop­per level, busi­nesses must first trans­form— across all busi­ness lev­els—from the mass mar­ket­ing, prod­uct siloed think­ing of the In­dus­trial Age to the shop­per­based cul­ture of the In­for­ma­tion Age,” says Jim Dip­pold, se­nior vice pres­i­dent, Con­sumer & Shop­per Mar­ket­ing, Sym­pho­nyIRI. “In this new busi­ness model, the pri­mary goal is to en­gage shop­pers to be­come a valu­able as­set to the busi­ness. The key to bol­ster­ing this in­cred­i­ble as­set is to sell the best shop­per as much as pos­si­ble over their life­time, rather than sim­ply at­tempt­ing to sell as many prod­ucts as pos­si­ble to as many shop­pers as pos­si­ble.” One way to fur­ther this goal is to de­velop a grow­ing num­ber of best shop­pers and serve these shop­pers well by cap­tur­ing long-term, ide­ally life­time, pur­chases and loy­alty. Nur­tur­ing gen­uinely loyal shop­pers and ex­pand­ing the breadth and depth of their pur­chases will take the busi­ness to the next level. Of course, high-per­form­ing prod­ucts are re­quired, but get­ting them into the hands of the right and best shop­pers de­liv­ers suc­cess. “To trans­form into a shop­per-cen­tric busi­ness, one first needs to rec­og­nize a shop­per when they come back, whether their re­turn is in per­son or on­line,” says Su­san Via­mari, ed­i­tor of Times & Trends, Sym­pho­nyIRI. “Af­ter all, shop­per re­la­tion­ships are only pos­si­ble with in­di­vid­ual shop­pers, not with mar­kets or seg­ments. Sec­ond, a busi­ness needs to dif­fer­en­ti­ate its shop­pers by their value to the busi­ness and the shop­per needs the busi­ness ful­fills. Only then can the busi­ness fo­cus its re­sources on those who will bring in the most value by ex­e­cut­ing shop­per-spe­cific strate­gies de­signed to sat­isfy the quest for unique and im­pres­sion­able shop­per ex­pe­ri­ences.” Man­u­fac­tur­ers and re­tail­ers look­ing to de­velop an or­ga­ni­za­tion­wide, shop­per­fo­cused strat­egy that cre­ates rel­e­vance, builds re­la­tion­ship value and drives sus­tain­able growth should con­sider the fol­low­ing ac­tion items:

Shop­per Mar­ket­ing: Both man­u­fac­tur­ers and re­tail­ers should es­tab­lish pro­files of ex­ist­ing “cus­tomers” by cre­at­ing dis­crete be­hav­ioral seg­ments based upon their habits, pur­chase re­sponse and his­tory with com­peti­tors. Man­u­fac­tur­ers and re­tail­ers should then col­lab­o­rate with key part­ners to de­velop pro­grams that are tar­geted against the needs/wants of their “com­mon” key shop­per seg­ments.

Prod­uct Mar­ket­ing: Man­u­fac­tur­ers and re­tail­ers should com­mu­ni­cate with shop­pers early and of­ten—in the home, on the Web and mo­bile de­vices and in the store—us­ing highly tar­geted mes­sag­ing. Re­tail­ers should work with man­u­fac­tur­ers to de­velop and man­age core prod­uct of­fer­ings based upon what their pri­or­ity cus­tomers are buy­ing fre­quently.

In-Store Mar­ket­ing: Man­u­fac­tur­ers and re­tail­ers should work col­lab­o­ra­tively to de­velop pro­mo­tional strate­gies based on the needs, wants and ap­petite of their “com­mon” best shop­per.

About the Re­port

This month’s Times & Trends Re­port, “Shop­per Mar­ket­ing: Ev­ery De­ci­sion Be­gins and Ends with the Shop­per,” is a free re­port avail­able from Sym­pho­nyIRI, the world’s lead­ing in­no­va­tion part­ner that en­ables CPG, re­tail and health­care com­pa­nies to cre­ate and max­i­mize new op­por­tu­ni­ties. The find­ings of this re­port were com­piled based on in­for­ma­tion from Ac­count Loy­alty Builder™, Sym­pho­nyIRI Loy­alty Ad­van­tage™, Sy mpho­nyIR I Shop­perSig ht s™ , Sym­pho­nyIRI Trip Ty­pol­ogy™, New Me­dia So­lu­tions, Sym­pho­nyIRI ProS­core™. To down­load the re­port, visit here.

About Sym­pho­nyIRI Group, Inc.

Sym­pho­nyIRI Group, for­merly named In­for­ma­tion Re­sources, Inc. (“IRI”), is the global leader in in­no­va­tive so­lu­tions and ser­vices for driv­ing rev­enue and profit growth in CPG, re­tail and health­care com­pa­nies. Sym­pho­nyIRI of­fers two fam­i­lies of so­lu­tions: Core IRI so­lu­tions for mar­ket mea­sure­ment and Sym­phony Ad­van­tage so­lu­tions for en­abling new growth op­por­tu­ni­ties in mar­ket­ing, sales, shop­per mar­ket­ing and cat­e­gory man­age­ment. Sym­pho­nyIRI so­lu­tions uniquely com­bine con­tent, an­a­lyt­ics and tech­nol­ogy to de­liver max­i­mum im­pact. Sym­pho­nyIRI helps com­pa­nies cre­ate, plan and ex­e­cute for­ward-look­ing, shop­per-cen­tric strate­gies across ev­ery level of the or­ga­ni­za­tion. For more in­for­ma­tion, visit Source: http://www.sym­pho­­sEv­ents/PressRe­leases/tabid/97/ItemID/1489/View/De­tails/De­fault.aspx

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