Target
May 25, 2010
Retailers are pulling out all the stops to eliminate waste and reduce costs. Major catalog marketers nationwide have hopped on the “tighten your belt” trend, with an increased demand for smaller, letter-rate catalogs. Dropping millions of large catalogs to underperforming mailing lists is passé, while green design and consumer perceptions are hot, and postage is at an all-time high.
April 20, 2010
Tasked with generating higher revenues on smaller budgets in more crowded marketplaces, today's marketers must take advantage of every tool at their disposal. One such resource is the power of word-of-mouth, an approach that uses the innate behavior of a unique group of consumers, known as influencers, to extend the reach of your efforts via “talkability.” A recent whitepaper from ICOM, a division of Epsilon Targeting, examines how to best tap into this rich resource.
Based on the latest findings from ICOM, previous profiles of influencers have to be adjusted. Consider the following:
- consumers are influencers strictly within product categories, not across them all;
- few commonalities exist within influencer demographics, as they cross gender, age, income levels and channels; and
- influencers do their talking in person — at the kitchen table, on the phone, etc. — but opportunities exist to take their messages to new realms, such as social media.
Influencers also have a higher propensity for connecting with friends and family than random consumers, the whitepaper finds. Therefore, their comments carry more credibility, regardless of the size of their networks, because they tend to be more active within social communities. Because they've established themselves as authorities, influencers are more likely to be sought after for their opinions, the whitepaper says. That's why it's so valuable for an influencer to tout your specific brand or product.
Once you've identified influencers, track their behaviors. Influencers' audiences include not just the assumed demographic, but also unexpected sets of consumers, according to the research. People who are influencers recommend in three categories or fewer, the whitepaper finds. And these recommendations are typically made in personal settings. Regardless of how influencers receive product information — via email, first-hand experience or in-store promotion — about 90 percent of word-of-mouth communication occurs face-to-face or via phone, reports ICOM.
March 30, 2010
Under Armour recently entered into an agreement with the Junior Tennis Champion Center, where it will outfit the players at the College Park facility that trains some of the best young talent in the game. Trainers, coaches and instructors also will wear the gear and test out new products for the company. Also, the South Baltimore company says it will soon announce some new names on its list of tennis endorsements, which already includes top-ranked American player Robby Ginepri.
March 12, 2010
Retail brand consultants Interbrand Design Forum today released the Most Valuable U.S. Retail Brands report, the second ranking of the top 50 retail brands. Walmart claimed top honors as the most valuable retail brand, followed by Target (No. 2), Best Buy (No. 3), The Home Depot (No. 4) and Walgreens (No. 5).
March 1, 2010
If you're wondering, "How am I going to increase my online sales and profits in 2010?" here's an easy answer: TEST! An e-commerce site should run at least one test a month with the potential to increase sales by 10 percent. These are seven keys to a successful online testing program. Plus: Download the Chi-Square Test spreadsheet to prove your tests are statisically valid.
February 1, 2010
Pop-up Stores Attract New Shoppers for Target; Staples' Goal-Setting Program Brings Retailer Prospects; Untapped Networks.
February 1, 2010
The jury will be out for some time on just how much money can be made directly from social media. But retailers rooted in stores, catalogs and the web have worked diligently to explore ways they can squeeze incremental revenue from this emerging channel.
January 26, 2010
Weymouth, MA & Philadelphia, PA, January 25, 2010 -- InfoTrends and North American Publishing Company (NAPCO) announced today the launch of InterACT!, an educational forum for marketers, brand owners and service providers on cross-media direct marketing opportunities and strategies. The event is scheduled for August 10-11, 2010 at the Crowne Plaza Chicago O’Hare in Rosemont, IL.
January 25, 2010
From a return on investment standpoint, it's important to segment customers based on pricing preferences. Once customers are placed into various pricing segments, carefully analyze year-over-year performance to see if they're willing to move from low-price item segments to discount/promo segments to full-price/high-priced items.
December 18, 2009
The biggest snowstorm of the season to date is scheduled to arrive along major population centers on the East Coast on Sat. Dec. 19, the final Saturday before Christmas, also known as Super Saturday, which is traditionally one of the biggest shopping days of the year.
