The Re­tail TRP

Build on trust, rev­enue and profit.

Progressive Grocer (India) - - Memory Lane -

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.