Transcript Slide 1

T E N N E S S E E VA L L E Y A U T H O R I T Y E C O N O M I C D E V E L O P M E N T
Retail Target Marketing
How to Connect with Your Best Customers
Henry County, Tennessee
June 24, 2010
Goal
To provide your retail or commercial businesses with
actionable information
2
Approach
1. An overview of your community’s trade area,
including demographics, psychographics and
retail opportunity gaps
2. A primer on electronic marketing that targets
key households
3. The Five Senses of Retail
4. Questions and observations
3
Acknowledgement
eMarketer-Digital
Intelligence
Lon Safko
www.lonsafko.com
www.Emarketer.com
Varun Bihani
Knowledge Bank
www.kpmrs.com/blog/
Keyword Position
Monitoring
Report Services
www.kpmrs.com
Duct Tape Marketing
http://www.ducttapema
rketing.com/blog/2010/
04/23/adding-thefacebook-like-buttonto-your-site//
Thunder Data
Systems
www.thunderdata.c
om/wiki/Main/Home
Page
John Schallert
Destination University
www.destinationuniversity.com
Ogilvy Action
www.ogilvyaction.com
Dave Luna
http://blog.lunaw
eb.com/dave-bio/
Stephanie Holland
Holland+Holland Advertising
www.she-conomy.com
Top Ten Reviews
www.TopTenRev
iews.com
John Jantsch
Kellie D’Andrea
www.kelliedandrea.com
http://www.ductt
apemarketing.co
m/johnjantsch.htm
And, prior Consumer Connection participants (retail businesses and communities)
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Strategic Information
Fortune 500 companies use competitive information to
optimize:
•
Customer targeting
•
Media strategies
•
Site analysis decisions
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Answers to the Questions Your Retailers are Asking
•
Where should I be marketing and how can I leverage the
internet?
•
Does this area really support my business?
•
What are the opportunities in the area that I am missing?
•
What are the shoppers like in this area and how can I
connect with them?
•
How do I sell the products that my customers want?
•
How do I create a unique shopping experience?
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What is a Trade Area?
•
A geographic area from
which a retail facility
consistently draws most of its
customers
•
Also called a “market area”
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Henry County, TN Trade Area: By the Numbers
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Henry County, TN Trade Area: By the Numbers
Population - 2009
Annual Population Growth 2009 to 2014
45,402
-0.05%
Number of Households - 2009
Percent of Homes - Owner
Occupied
19,107
63.2%
Average Household Income 2009
Households Earning at least
$50,000 per year
$46,092
53.5%
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Henry County, TN Trade Area: By the Numbers
Millions
$400
$361
$350
$300
$283
$250
$200
$150
$100
$78
$50
$0
Total Retail Sales
2009
Total Retail Demand
2009
Total Retail
Out-Leakage
(Area Demand>Area
Supply)
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Henry County, TN Major Retail Out-Leakage
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Henry County, TN Trade Area: By the Numbers
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Kizer & Bender “50 Ideas to Increase Store Sales”
•
Outperforming competitors
requires daring new approaches
for running your business
•
Compete for the customer’s mind
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Lifestyle Data
•
Combines demographic, consumer behavior, and
geographic data to help marketers identify,
understand and target their customers and prospects
•
Segmentation provides marketers a better
understanding of their customers and prospects in
order to target with tailored messages and products
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Top Tapestry Segments
4.7%
Rooted Rural
25.6%
15.9%
Southern Satellites
23.3%
4.2%
Heart Lander
18.4%
TN
Site
6.0%
Salt of the Earth
9.9%
3.0%
Senior Fun Seekers
8.1%
3.0%
Hometown
7.0%
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Tapestry Segmentation Reference Guide
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Sector Product & Consumer Behavior
Reports available
 Automotive
 Medical
 Electronics
 Pets
 Internet
 Recreation
 Financial
 Restaurant
 Health & Beauty
 Sports & Leisure
 Hotel & Motel
 General Retail
 House & Home
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Answers to Retail Questions – Recap
•
Where should I be marketing and how can I leverage the
internet?
•
Does this area really support my business?
•
What are the opportunities in the area that I am missing?
•
What are the shoppers like in this area and how can I
connect with them?
•
How do I sell the products that my customers want?
•
How do I create a unique shopping experience?
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Products for Segmentation Marketing
www.InfoUSA.com
www.MyMarketProfile.com
www.USAData.com
www.BestTargetMarketing.com
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Email Marketing Campaign – Where do I start?
Email Marketing - Top Ten Reviews
•
Which service is the best?
•
What options are available?
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Elements to a Great Marketing Email
 Define your target
audience
 Include a brief benefit
statement
 Create a sense of
urgency
 Present a call to action
 Capture all new contacts
 Confirmation of removal
 “Tell a friend” option
 “Five second read”
 Personal and unique
email blasts
 Monthly email blasts
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Web Marketing Resources - Service
•
Web Hosting Review
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What is Search Engine Marketing?
•
A technique to make web pages more useful to customers and
more transparent and understandable to search engines (like
Google )
TM
•
Inexpensive way to achieve higher rankings among search
engines
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Ideas to Improve Search Engine Marketing
 Targeted keyword
 Business blog
 Correct title website
 Traffic analyzer
 Meta keywords and
descriptions
 Website ranking
 Profile maintenance
 Unique homepage
content
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Local Search Answers
•
Make sure your listing is
complete and accurate.
•
Choose the most appropriate,
specific categories for your
business.
•
Establish a strong, accurate
presence on the web.
•
Sign up to be a favorite place
on Google™
.
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Google™ Tools
«Google™ Insights for Search:
www.google.com/support/insights/bin/answer.py
?hl=en-US&answer=96693
»Google™ Website Optimizer:
www.google.com/accounts/ServiceLogin?continue=http://ww
w.google.com/analytics/siteopt/?hl=en&service=websiteopti
mizer&hl=en
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Social Media Networking - Facebook™
•
More than 350 million users are active on Facebook™.
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50% of active users log in on any given day.
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The average user spends 55 minutes a day on Facebook™.
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More than 1.6 million active Facebook™ fan pages have been created.
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Marketing Tips
o
Keep Content Fresh
o
Engage New Visitors
o
Promote a Contest Via Facebook™
o
Give Fans Something They Can’t Get
Anywhere Else
o
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Encourage Interaction
Top Rank Online Marketing Blog
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Facebook™ Tools
«www.facebook.com/advertising/
»www.facebook.com/facebook-widgets/
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Making Your Store a Delightful Place to Shop: Sight
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Customer’s first impression
•
Signage
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Convenient store hours
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Item placement
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Store windows
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Employees “hang out”
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Dress code
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Cross merchandise
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Shopping carts
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Fixtures
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Making Your Store a Delightful Place to Shop: Feel
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Customer interaction
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Mirrors/open tables
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Item of the day
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Brand choice
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Impulse buy
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Making Your Store a Delightful Place to Shop: Sound
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Customized music
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Telephone greeting/response time
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Seven-tile rule
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Customer conversations
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Associate training
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Add-on selling
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Courteous response
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Making Your Store a Delightful Place to Shop: Taste
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Refreshments
•
Partner with a local restaurant
•
Do not forget to
let the kids know
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Making Your Store a Delightful Place to Shop: Smell
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Of all the senses, smell is the most powerful memory trigger
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Commercial Energy Services
•
Using electricity efficiently saves your business money and
conserves natural resources while preserving our environment.
•
TVA will be providing information on new energy efficiency
products and services for business and industry.
http://www.tva.com/commercial/
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Presentation Approach
• Questions and
observations
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LinkedIn Resource
Join me and others at:
•
www.linkedin.com
o
Search: Groups

Tennessee Valley Existing Retailers
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T E N N E S S E E VA L L E Y A U T H O R I T Y E C O N O M I C D E V E L O P M E N T
Put the TVA Economic Development team to work for you
Contact: Chuck Marquis
(901) 619-4304
[email protected]
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