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RETAILERS are among the world’s most powerful
brands, and at 22squared we believe that’s no accident.
Our deep experience in the retail world has given
us inside perspective on how retailers can unlock
the full potential of their business. We know
retail never rests, which is why we’ve identified
13 ESSENTIAL TIPS
that can help retail marketers survive in this
ever-shifting landscape.
3. 22SQRD RSG-2014 3
fig.1
SURVIVAL TIP #
1:
EXPERIENCE IS EVERYTHING.
When assessing your brand’s value proposition, seek a
bird’s-eye view – or risk becoming mired in the transactional
space. Merchants and products will come and go, but a
differentiated experience is what defines you. Elevate that
experience beyond just the physical setting through deft
marketing, online touchpoints and employee-customer
interactions. Savvy retailers don’t just sell things. They
leverage the power of experience to entice customers along
the purchase journey.
4. 22SQRD RSG-2014 4
fig.2
SURVIVAL TIP #
2:
CULTIVATE YOUR
MESSENGERS.
Employees are your most powerful media. Select, train and
feed them well, and they will serve as ambassadors of your
brand. Hire staff that understands your customers’ needs,
passion points and use of your products – this will help
employees build authentic connections with shoppers.
Service shouldn’t just happen in-store; you must find ways
to reach customers beyond the physical location to bring
the experience full-circle.
5. 22SQRD RSG-2014 5
fig.3
SURVIVAL TIP #
3:
FORGE THE PATH.
If experience is the heart of your brand, traffic is your
lifeline. Consumers stay on the move, and steering them
in your direction means staying several steps ahead.
Convenience is the number-one driver of retail choice,
so eliminate barriers to visit or make it worthwhile for
customers to jump over them through the power of your
brand experience. Consider traffic not an end in itself but
a virtuous cycle: entice, reward, repeat.
6. 22SQRD RSG-2014 6
fig.4
SURVIVAL TIP #
4:
HARNESS HIDDEN PATTERNS.
Retail lives and dies by the promotional calendar. Learn it
well and you can bend it to your will. Create additional
occasions for visit or purchase, rooted in insight about your
customers’ habits. Remember that the most meaningful
cycle for your business may not conform to the calendar
year. Are there other patterns you can tap into? Triggering
a craving can ultimately trigger a visit.
7. 22SQRD RSG-2014 7
fig.5
SURVIVAL TIP #
5:
LEARN TO DISTINGUISH
DISCOUNTING FROM
PROMOTION.
The discerning customer appreciates genuine value, so
don’t confuse the concept with having the lowest cost. If
you understand what your customers value, you can tailor
your offering to hit their sweet spot. There’s no limit to
sales when you give things away, but the flip-side is also
true: there’s no limit to profit when you provide unique
value to your customers’ lives.
8. 22SQRD RSG-2014 8
fig.6
SURVIVAL TIP #
6:
BE LOCAL. ACT NATURAL.
Much like the man-child reared by wolves, assimilation
inevitably leads to acceptance and, in turn, authenticity.
Such is the power of integrating within your community.
Even if you’re a national brand, connecting locally is key to
humanizing your retail experience and bringing relevance to
your customers’ daily lives. Collaboration and communication
across store locations is also crucial so learnings can be
shared and adapted to the specific nature of each community
and customer base.
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TAKE A LITTLE TIME TO
ENJOY THE JOURNEY.
OKAY. THAT’S ENOUGH.
MORE CHALLENGES AHEAD.
10. 22SQRD RSG-2014 10
fig.7
SURVIVAL TIP #
7:
FOCUS RIGHT IN FRONT
OF YOU. BUT ALSO WAY
AHEAD OF YOU.
The boundaries between brand building and traffic driving
aren’t as clearly demarcated as you might hope – but both
paths share common ground en route to business growth.
While traffic is all about getting customers in the door
day-to-day, brand building is the uniquely valueable
experience that keeps them constantly coming back.
Finding the balance, and recognizing where the paths
connect, allows retailers to prioritize budgets and focus
their efforts to achieve long-term growth.
11. 22SQRD RSG-2014 11
fig.8
SURVIVAL TIP #
8:
OBSERVE. ADAPT. REPEAT.
Luck is the meeting of preparation and circumstance, and
nowhere is this more true than in the ever-changing retail
environment. Survival hinges on the ability to anticipate
external challenges – and opportunities – and pivot them
to your advantage. This requires flexibility, as well as an
openness to letting customers illuminate your path toward
innovation. However, truly savvy retailers can also lead
change by helping to guide a market where they ultimately
want it to go.
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fig.9
SURVIVAL TIP #
9:
DATA IS YOUR SECRET
WEAPON.
The rise of Big Data has placed new-found power in our
hands. But what separates savvy retailers from the rest of the
pack is their ability to wield it with finesse. Insights gleaned
from deep data can tell meaningful stories about customers’
lives, behaviors and purchase patterns. Recognize that not
every customer is of equal value and you’ll be able to better
segment and serve those who will fuel your core growth.
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fig.10
SURVIVAL TIP #
10:
LOYALTY MUST BE EARNED.
You can lure a bear with honey, but you’d better be nice to
him once he takes his first taste. Meaningful loyalty is based
on a relationship, one that can be enhanced with rewards
and incentives but must begin from a place of true emotional
connection. A winning loyalty program is one that builds
from your brand strengths and deepens the experience your
customers have already come to love.
14. 22SQRD RSG-2014 14
fig.11
SURVIVAL TIP #
11:
LET THE CUSTOMER JOURNEY
GUIDE YOUR GROWTH.
The observant bird eats around the worm’s schedule. Build
opportunities around your customer journey and don’t be
afraid to be opportunistic when a new insight presents itself.
Oftentimes, your shoppers can lead you to growth when you
pay close attention to their shopping process, purchase
drivers and consumption habits. Tap into key moments of
engagement to pair the right message with the right consumer
mindset and create a relevant connection.
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fig.12
SURVIVAL TIP #
12:
REMAIN TIP-OF-TONGUE.
You’re only as good as what your customers are saying about
you at any moment. Find ways to fuel positive conversation,
and be proactive about quelling negative feedback before it
snowballs. Your communication levels may wax and wane,
but never go dark on your customers. Instead, let them do
some of the work by making every element of your experience
shareable and talk-worthy.
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fig.13
SURVIVAL TIP #
13:
YOU’RE IN IT TOGETHER.
It’s a jungle out there. To navigate safely and successfully
requires clarity of purpose – and clarity of action. Successful
retailers are able to align internally around a clear vision that
informs every decision the brand makes. This core positioning
drives all aspects of the brand experience. Define it clearly,
carefully and in a way that no one can replicate.
17. 22squared is a full-service advertising agency that works with some
of the nation's leading brands and retailers including The Home
Depot, Baskin-Robbins, Dunkin’ Donuts, Aaron's, Publix Super
Markets, PGA TOUR Superstore, Shoe Carnival, and Toyota.
For more information, contact:
Jen Grant, SVP, Director of Brand Planning
jen.grant@22squared.com
Christy Cross, Business Development
christy.cross@22squared.com 22squared.com | @22squared
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