The Retail TRP
Build on trust, revenue and profit.
The Indian consumer has become global in his strategy of brand selection. In the last three years there has been a steady rise in the number of brands vying for consumers’ attentions in each product and service category.
While there has been a perceptible enhancement in services being offered at retail, both in neighbourhood and structured markets, the consumer is getting more demanding and expecting better information from the brands to take informed decisions about their purchases at the Point of Purchase.
The growing disposable income, access to brands in local markets and general movement towards enhanced lifestyles is leading to the growth of a consumer base that is willing to experiment, provided the value being offered by the brands is optimal. The key challenge for brands to address this set of consumer base is to build “curiosity”, leading to “impulse” at the point where the buying decision can be influenced for the final time.
Traditionally brands have used multiple media to create curiosity among the consumers. These include visibility through different ATL (Above The Line) platforms such as TV, Radio, print, outdoor visibility, BTL (Below The Line) elements at retail, direct mailers, and call centres. While the effectiveness of these media vary based on different parameters, the common feature is the “act of soliciting” without any “person to person touch” forming the basis of interaction. The call centres while initiating a dialogue are still highly impersonal in their approach towards building brand loyalty among the consumers.
Leagueone has undertaken a unique mode of enhancing the “Effectiveness of the Reach” of the brands at the Point of Purchase through “Facilitation” rather than “Solicitation” as a basis to engage the consumer at its “Internetwork of Retail” spread across 1,500 multi-branded independent retail outlets in 17 cities.
All the outlets are owner-driven, which leads to the creation of a “Retail TRP” that is built on “Trust”, “Revenue” and “Profit”. In a recently concluded activity for one of the leading pharma brands for launch of their new OTC product, Leagueone facilitated over 7,500 genuine leads from 70 Leagueone Advantage outlets in seven days using 14 specialised retail executives.
Trust is the basis of interaction between the owner-driven retail outlet and the consumers, and something that has been built over years. Revenue
is the return earned by the brand and the retailer through various retail marketing innovations brought in by Leagueone, while all stakeholders including the consumer, retailer and brands profit from the experience at the retail point.
An optimal mix of “in-store ATL and BTL” is essential for the consumer to experience the brand promise. ATL does add to brand visibility but does not give the same sense of belonging as a combination of BTL with in-store ATL. The entire experience gets highly elevated through “Facilitation Initiatives” built on the fundamentals of “Retail TRP”. Increase in the level of interactivity with the consumer eventually leads to the consumer being a loyal customer for the brand.
A few of the innovations include a “Highly Specialised Lead Generation” programme based on the mutual trust between the outlet and the consumer. The programme is driven by the retail staff or specialised retail executives of Leagueone at the outlets. The lead generation programme enables brands to interact with the consumers in a “facilitative mode” and avoid mere solicitation. The owner of the retail is generally aware of the latent needs of the consumer and their buying criteria. A “Lead Generation” activity facilitated by this knowledge and supported by the trust factor enables the consumer to actively participate in the programme. The leads become invaluable assets for the brands to then interact with the consumer and generate revenue.
The other mode of creating profit or all stakeholders is to enable availability of “Service Products” at outlets of regular visits by the consumers. The service products can range from “Fault Repair bookings”, “AMC solicitation” to even “offering Tickets for Events”. The very fact that the Tickets/passes could be bought or received in their neighbourhood leads to a much higher footfall at the venue thereby creating a “Greater ROI” for the brands for the event. The in-store advertisement – both ATL and BTL – further enhance the brand recall and provides the consumer with a more satisfying experience. In all, everyone “Profits” from the experience.
The growing disposable income, access to brands in local markets and general movement towards enhanced lifestyles is leading to the growth of a consumer base that is willing to experiment, provided the value being offered by the brands is optimal.