Monday, October 20, 2014

Return on Relationships

Think about the most precious relationships in your life . . . I bet my retirement that you have invested a lot of time, energy, sincerity and passion into these relationships, and furthermore that these relationships are the most valuable thing in your life.

Now take a second and think about the relationships in your business life, that you wish more valuable.  Why are these relationships not stronger? What is missing?  Not spending enough time? lacking energy, sincerity and passion?

I did not coin the term ""Return on Relationships" but my friend Ted Rubin CEO of Brand Innovators, author and public speaker did.  I recommend you pick up Ted book today to learn how to increase the currency value of your relationships.

In the most simplistic terms local store marketing is activating the relationships you have within your trade area to grow your business.   

Time to start earning a Return on Relationships!

Tuesday, October 7, 2014

Local Store Marketing - Not A Poor Man's Strategy

At it's most simplistic form local store marketing is the act of fostering relationships with groups and influential community members within your trade area. The objective of local store marketing is to increase awareness, enhance your brands image and most importantly inspire trial.

Local store marketing is a long-term tactic that must be specific, planned, measurable, sincere and consistently executed in your community to create top of mind awareness.  

Yes local store marketing is challenging but when consistently executed, it can make a significant impact within your community, drive sales, awareness, loyalty that is can eliminate the need for other more cost prohibited advertising.

Local store marketing is not a poor man's strategy. . . here are just a few national brands that are committed to local store marketing.

Wednesday, December 12, 2012

Sites That Give Pinterest A Run For "Your" Money

What is Pinterest?
Pinterest is primarily a website where you will find images of pretty table settings, food and desserts, flower arrangements, hair designs, and cute outfits. Some items are available for sale, but not many. 
In my opinion, Pinterest has not done a good job monetizing their site, unlike these sites that are giving Pinterest a run for your money.

Target Demo   Women 16+

Brands that Use Pinterest
Retailers like Payless ShoeSource, Pier 1® Imports, and JCPenney are leveraging Pinterest to showcase fashion looks and design ideas for your home. Grocers and restaurants like Whole Foods Market, Sonic®, and Quiznos® feature menu items, recipes, and fun marketing images to better connect with customers.

Fun Fact
Pinning (verb) means to pin items that you like and add them to your own ‘pin boards.’

What is it Wanelo?
Wanelo is a retailer’s paradise which hosts images of their products and includes a link back to their website so browsers can become customers. Wanelo is very millennial-esque and shares some similarities to Pinterest, but instead of pinning, users "tag" the images of products they like. The images with the most tags are showcased on the site as the hottest trending products. In true millennial fashion, the trending products featured on are displayed on the top of the page,  preceded by a # hashtag so users can tweet about those products.

Target Demographic Women Shoppers 15-40

Brands that are Cashing in on Wanelo
Retailers like Forever21, Foot Locker, Victoria’s Secret, 
Pottery Barn Teen, Amazon and too many others to mention.

Fun Fact  Wanelo means Want - Need - Love.

What is it has been around awhile. It is a site that curates hip and unique items that are primarily design driven. When Fab first launched, I was really impressed because they leveraged the basic principles of economics by creating demand for access to the site, but limited ability/access to members.  After applying  for a membership, I had to wait nearly a week before I was granted access.

Target Demographic Upscale Urban Hipster

Tribute to the Small Guys
Retailers are not mainstream, but, rather, individual artists, galleries, and small manufacturers.

Fun Fact  If you call yourself a hipster, you are not hip.

What is it
The Fancy is a one off of that features unique items 
that redirects you to a buying website.  It is very simplistic and definitely showcases higher end items. While fancy does feature items under  $100 the majority of their products cost $500 or more. I have a feeling this website will not be a huge money maker like or as it is priced itself out of the category.

Target Demographic $$$$$ Urban Hipster 25+

Tribute to the Small Guys 
The site features boutique retailers, manufacturers and galleries.

Fun Fact You can earn cash by inviting your friends.

Retailers Bottom Line 
As a retailer, gallery owner or artist, there are a lot of emerging sites that allow you to feature and sell your products. It is important that you determine the following  . . . 

1. What is your objective?
2. What are the pros and cons of the platform?
3. Does the demographic match your brand?
4. What is your exit strategy if it does not work?