by Fronetics | Nov 27, 2017 | Blog, Current Events, Marketing
It’s time for retailers to cut their dependence on holiday season shopping, and take advantage of opportunities to generate demand over a more sustained period of time.
When was the last time you stood in a pre-dawn line at a Black Friday doorbuster sale? If it was within the past years, you’re actually part of a dwindling minority of shoppers. Increasingly, customers are in shopping mode all the time, and deals that are restricted to a limited timeframe or buying mode are only a source of frustration.
In a recent Harvard Business Review article, brand-building expert Denise Lee Yohn makes the argument that retailers are over-dependent on the holiday shopping season, as the retail landscape has shifted seismically in the past decade. “It no longer makes sense to rely on disproportionate revenue from the holiday season to make up for the softness in sales during the rest of the year,” she argues.
Accommodate the way people shop today
So what does this mean for marketers? Yohn suggests that it’s time for brands to rethink how they promote themselves during the holidays and beyond, with marketing dollars better spent accommodating the ways people shop now.
“Customers don’t want retailers to dictate their shopping schedule,” says Yohn. Shoppers at every price point are becoming more accustomed to buying whenever the interest strikes them. They often shop from their mobile devices or in the stores during post-season sales, rather than at times traditionally associated with peak retail activity.
In their book Absolute Value, Itamar Simonsen and Emanuel Rosen posit the idea that people are now engaging in what they call “couch tracking,” or “keeping track of what they learn about products from reviews, friends, and news items on an ongoing basis.” This means that customers are likely to have well-formed preferences long before they have a specific plan to purchase. “Therefore,” concludes Yohn, “it doesn’t make sense for retailers to try to influence product or brand decisions only during discrete windows of time.”
In case you need further convincing, Yohn also points out that a disproportionate emphasis on the holiday season isn’t to a retailer’s best advantage even from a logistic perspective. “The large fluctuations in demand wreak havoc on supply chain, labor management, and accounting.”
It’s time for retailers to cut their dependence on holiday season shopping, and take advantage of opportunities to generate demand over a more sustained period of time. Millennials and other shoppers are increasingly choosing to spend discretionary dollars on experiences like recreation, travel, and eating out, rather than on products like clothing and shoes. To keep pace, Yohn suggests that “a year-round approach would likely help retailers compete with restaurants and other experiences which people seek out throughout the year.”
How to better distribute your marketing dollars
Here are three key takeaways for retailers looking to put marketing dollars to better use:
1) Encourage year-round “self-gifting”
Millennials are nearly as likely to buy something for themselves as someone else during the holiday season. Encouraging this tendency year-round could lead to more consistent purchasing rather than waiting for a holiday occasion.
2) Delay holiday-specific messaging
This one may seem counter-intuitive, but not having a holiday-specific message during fall months will actually help you capture wider demand. You also buck the trend of creating deal-fatigue, as shoppers quickly get weary of holiday promotions that start in October.
3) Make technology your friend
Says Yohn, “The technology and analytics now exist for retailers to better predict what people want and when they want it, so they should use these capabilities to move away from the traditional seasonal approach.”
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by Fronetics | Nov 22, 2017 | Blog, Leadership, Strategy
Employees are much more than people you employ — they can be your best brand ambassadors.
There are many benefits to having employee brand ambassadors, and one of the biggest is the rise in peer influence in B2B buying. But the benefits don’t stop there. There are the increased social media reach, growth in brand engagement, and elevated employee performances.
But companies can’t force their employees to become brand ambassadors. To be truly effective, the shift from employee to brand ambassador must happen organically. But there are ways to help. Here are 3 ways to use your employees as your greatest marketing tool.
3 ways to cultivate brand ambassadors
1. Create a work environment people enjoy coming to.
One of the best ways to get employees to speak honestly and positively about your brand is to have employees that enjoy coming to work. Make sure that your office is an environment that promotes a positive culture. Being flexible, recognizing a job well done, and offering opportunities for professional growth are ways to cultivate satisfied, productive employees.
When an employee feels valued, s/he is more likely to promote your brand. Opportunities for professional development and recognition for hard work may seem like small gestures, but they contribute to happy employees. This breeds the most effective brand ambassadors.
2. Improve employee engagement.
The more excited your employees are about their jobs, the more engaged they will be. And what’s more, companies with highly engaged employees see a 20% increase in sales and a 10% in customer ratings.
Improve engagement by encouraging open lines of communication with your employees. Make sure they are in-the-know with company happenings. Encourage their feedback. Work to implement suggestions employees make to improve processes. If you want employees to invest in your brand, you must build the bridge between being an employee and feeling like a part of the team. When employees feel like an insider, they are engaged with your brand and will naturally want to promote it.
3. Provide incentives.
When you have employees that are passionate about your brand, it’s important to find ways to recognize the work they’re doing as brand ambassadors. The obvious incentive is money, but that’s not always the best way to encourage your employees.
Ever heard of motivation crowding theory? This theory states that extrinsic motivators, such as monetary incentives, can undermine intrinsic motivation. If you have happy, productive employees that want to rave about your company, don’t squash their excitement by throwing money at them. This could turn their passion into more work.
There are lots of other incentives that will keep your employees dedicated to being brand ambassadors. One of the easiest to implement is recognition. A shout out on your social media pages or recognition in a staff meeting can go a long way. Other options include product giveaways or discounts with your vendors. Get creative! The incentives don’t have to be expensive, but a little motivation can go a long way.
Don’t miss out on one of your brand’s greatest marketing opportunities — your own employees! Help your team make the leap from employee to brand ambassador, and watch how the shift benefits everyone in your office, including you.
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by Jennifer Hart Yim | Nov 15, 2017 | Blog, Supply Chain, Warehousing & Materials Handling
Tracking these logistics metrics can help you identify and tackle issues in your warehouse before they become a problem.
This guest post comes to us from Demetra Mallios at Catch-Up Logistics, a full-service provider of ambient and temperature-controlled food-grade distribution and warehousing services.
The supply chain plays an integral part in maintaining a well-functioning organization. A well-structured and organized warehouse will help you achieve your distribution goals and adequately analyze metrics.
You can think of it like when you are trying to decide what to make for dinner, but cannot remember what food you have in your fridge. If your items are organized and you are aware of what is in your fridge (the warehouse), then you can properly make your dinner decision (packing and preparing for delivery distribution).
While you may be aware of some metrics to track, you might still be missing others. But, that’s where we come in with our list of the top 10 logistics metrics to measure supply chain efficiency in your warehouse.
10 logistics metrics to measure supply chain efficiency in your warehouse
1. On-Time Shipping
A distribution center’s primary objective is clear in its name: It must accurately and efficiently distribute goods that are coming in and out of the warehouse. In other words, the correct product must be placed on the correct transportation method at the appropriate time. In order to complete this task, you must monitor late shipping departures to the warehouse and early completion of freight loading time.
Although it may seem that finishing shipment loads ahead of schedule is a good idea, in reality it could affect the departure and duties of other shipments. So, your business can be sure to monitor these shipment details via a 3PL system. You should also take into account the varying loading and transportation times needed to shift freights before out-bounding product. (Because delaying shipping can be just as bad as receiving the birthday present you ordered for your mom days later, timing matters.)
2. Warehouse Capacity
While there are measures out there to monitor inventory, it is essential that you complete manual observation as well. A distribution center needs to be aware of its ability to increase or decrease its loading times, create more storage space, and accurately track inventory. Currently, many distribution centers incorporate RFID measures to check inventory. However, you should not underestimate the need for manual observation in order to successfully analyze the listed criteria.
3. Accurate Order Fulfillment
Another highly important metric is, of course, the accuracy of the order picking processes. When your employee goes to retrieve a pallet of a specific product, you want to be able to measure how quickly and accurately that task is completed. However, realistically, human error will sometimes occur, which makes the tracking of the picking and moving process vital. A distribution center does not want to be in a situation in which it is unaware of lost, damaged, or misplaced product.
4. Properly Storing Incoming Product
This metric relates to the previous one about order fulfillment, in that it requires a similar tracking process. Accurate inbound storage is essential for accurate outbound deliveries. Without a well-organized inventory in the receiving end, the outbound end will have trouble accurately and efficiently fulfilling orders.
Additionally, the incoming product needs to be recorded correctly, so that inventory capacity can consistently be updated. Furthermore, incoming product and procedures can vary depending on the type of warehouse and storage facility you are operating. For instance, Catch-Up Logistics focuses on food storage. Therefore, it is essential that the product is placed in the correct freezer, cooler, or ambient temperature zone. If this is not done properly, not only will we ruin the product, but we will also lose credibility in our ability to provide high-quality warehousing services.
5. Peaks in Warehouse Capacity
Changes in product demand can, of course, influence the amount of inventory you are willing to hold in your warehouse distribution center. For instance, the holiday season will result in a peak in inventory, as companies need to store more seasonal product. With Catch-Up Logistics, Thanksgiving is a prime example, as our turkey inventory grows and distribution needs to be timely.
6. Total and Individual Cycle Times
In order to be sure that your warehouse is running efficiently, you should be tracking the cycle times. The total cycle time refers to the time needed to properly place the product in inventory from its time of arrival and then ship it from the distribution center. Individually, you can record the dock-to-load time, picking, packing, and preparing the freight for shipping times. This will enable you to see whether or not a certain process is underperforming and can be improved.
7. Damaged Products
You are bound to deal with damaged product at some point while either receiving inventory or moving it. Thus, it is important to record whether or not the product was already damaged upon arrival or if it was due to mishandling in the distribution center. Knowing this data and taking proper action to reduce such mishaps will help improve the efficiency of your warehouse.
8. Employee Turnover Rate
Because working in a distribution center can be exhausting, it is common for employees to search for other job opportunities. However, being able to minimize the turnover with incentives and an improved working environment can benefit the business. It is best to try and maintain employment, instead of consistently searching for new workers and spending the time and resources to train them, only to have them leave in a few months.
9. Accurate Tracking of Trailers
If your warehouse distribution center makes use of trailers for shipping product, it is essential that you are aware of their location at all times. (For instance, Catch-Up Logistics utilizes trailers for shipping.) A great method for tracking this information is through the use of a GPS tracking system.
10. Recording Temperatures
If you have a food storage warehouse facility, it is essential to install a temperature-monitoring system. At Catch-Up Logistics, we monitor the daily temperatures of all the freezers, coolers, and ambient temperature storage spaces to ensure the optimal temperature for proper food storage and health reasons. Additionally, such a system will notify you of any irregular changes in temperature so that you can immediately solve an arising problem before the food product becomes unusable.
There are many aspects to maintaining a well-functioning warehouse distribution system, as demonstrated from the list of metrics above. Although these tracking suggestions may at first appear excessive and time-consuming, they will help you improve the efficiency of your warehouse.
Being aware of potential issues will allow you to tackle the problem before it has a chance to further develop. So, what are you waiting for? If you have not already begun using these metrics, you should consider implementing them as soon as possible!
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by Fronetics | Nov 9, 2017 | Blog, Content Marketing, Customer Service, Marketing
Case studies have proven to be one of the most effective kinds of content in converting leads to buyers. Here are 4 strategies to getting customers to participate.
The 2017 Content Preferences Survey Report found that 78% of B2B buyers used vendor case studies as part of their purchasing decisions in the past 12 months. So why are customer testimonials and case studies so effective? Because buyers value the opinions of their peers and colleagues.
In fact, 89% of B2B marketers consider customer testimonials and case studies as the most effective kinds of content in converting buyers. It makes sense: User reviews offer an unbiased, credible experience regarding a company’s products or services. So potential customers do not have to rely exclusively on information the organization provides.
With stats like that, it is easy to see that case studies are compelling, but getting customers to participate in case studies can be very challenging. Here are 4 tips to help increase case study participation.
4 strategies to get customers involved in your case study
Create a formal process.
Start by getting support from your sales and marketing teams. With compelling stats about the success of case studies and customer testimonials, your internal teams will be jumping at the chance to help find participants. After all, these customers will help drive new sales.
Next you will need a formal submission process for sales and marketing team members to complete when they want to submit a customer’s name and information. You will also need a detailed document that explains to participants their level of involvement. People are busy! Keep case studies short and sweet so nominees are more likely to participate.
Be smart with your timing.
Case studies are most effective when you have happy, satisfied customers beaming about your products. Be smart with your timing and ask customers who just recently purchased your products or services. These customers are most likely excited about their recent purchase and may even go one step further in their reviews, offering tips and how-tos that will only add to the success of your case study.
Not sure if customers are happy with their recent purchase? Ask them! Send an email that asks if they’re satisfied. If their response shows excitement, ask if they’d be willing to participate.
Treat the case study as a mutual opportunity
Case studies can be beneficial to you and your participants, and should be treated as such. “Many customers already think doing business with you is a favor they did. You should not make them feel like they’re going to be doing you another favor by doing a case study,” writes Ayodeji Onibalusi for Effective Inbound Marketing.
Let customers see your case study as an opportunity for them. Explain the benefits, including publicity, they will achieve from participating. Post your case study to social media, link to your website, and send to existing and potential customers. A case study is something your participants can enjoy and won’t want to miss out on.
Find alternatives if customer polices prohibit case studies
Company policies that restrict or forbid some customers from participating in case studies are a big roadblock. Your company could have strict polices about customer testimonials, or customers might have restrictive company policies that limit their participation. These can be a challenge but don’t have to quash your opportunity to conduct successful case studies.
Get creative if you must! Conduct large group interviews and take samples of customer testimonials. Or use the average results from the interview to create an anonymous case study. If you’re still running into issues, simply ask customers for a one-sentence review that you can post without their information. These short reviews can still have a big impact on potential customers.
Case studies have proven they are worth their time and energy. Recommendations from actual customers are a powerful tool. Use these four strategies to conduct case studies that will help attract new customers and drive sales.
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by Fronetics | Nov 7, 2017 | Blog, Content Marketing, Data/Analytics, Marketing, Social Media
Use these four steps to determine which social media KPIs your business should be tracking to ensure you’re meeting your content marketing goals.
Whenever we create content marketing strategies for clients, we always tailor them to align with their specific business goals. So, for example, if a client is interested in getting more leads, we implement a plan designed to convert website visitors into contacts. And, equally importantly, we make sure lead generation is a metric we are constantly measuring.
Social media management is usually an important part of a comprehensive content marketing program. So, too, do we create a social media strategy specifically tailored to a client’s content goals. And this begins with establishing the right social media KPIs (key performance indicators) for those goals.
I wish I could give you a list of metrics that would work for every business. But, of course, it doesn’t work that way. Depending on what you’re looking to accomplish with your marketing plan, you’ll want to strategize, execute, and measure progress accordingly.
To get you started, here are four steps to help you decide which social media KPIs to measure based on your specific content marketing goals.
4 steps to determining your social media KPIs
1) Understand the difference between metrics and KPIs.
According to social media strategist and author of Going Social and Getting to Like Jeremy Goldman, “It’s completely normal to get metrics and KPIs mixed up to some extent.” Metrics, he says, “are simply measurements quantified,” while KPIs are “metrics that you’ve determined are mission critical to your business.”
Why is this distinction important? While we can measure more than ever before, sometimes too many measurements lead to a loss of organizational focus. In fact, Goldman suggests defining relatively few KPIs in order to maintain focus. “The more KPIs your organization has defined, the less focused it likely is.”
2) Define your business’ specific social media marketing goals.
In order to figure out the most relevant performance indicators, you need to establish and document a set of goals for your social media presence. Once you’ve done that, you can select metrics that help you analyze your progress.
For example, if you’re trying to get as many views as possible on your company’s white paper, your best KPIs are probably going to be visits to the lead-gen form connected to the white paper, as well as the total number of white paper downloads.
3) Start with the basics.
What is your organization’s mission statement; what is its reason for being? “It may sound like a lofty place to start,” says Goldman, “but you can’t succeed without an understanding of the firm and where it’s looking to go.”
Once you’ve got a clear idea of your brand and your company’s mission, make sure you have an understanding of your role within the context of the larger organization. Having an understanding of these basics gives you tools to focus on what serves the whole.
4) Survey your metrics.
Take a close look at all the metrics available to you, making sure not to assume everything is important. By the same token, don’t discount a metric that might not seem at face value to be important — be as objective as possible.
Next, you can determine your KPIs. “Break down your list of metrics and pick a few you’re determined to work night and day to measure your success by,” suggests Goldman.
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