Showing posts with label sales. Show all posts

Wednesday, 18 December 2013

SALES & MARKETING: PRIVATE LABEL, NATIONAL BRANDS HAVE OPPORTUNITY FOR GROWTH

PRIVATE LABEL, NATIONAL BRANDS HAVE OPPORTUNITY FOR GROWTH

Published in Food Product Design December 18, 2013

Posted in News, Market Research, Market Trends, Private Label, Economics, Retail, Consumer Preference, Packaging, Vitamins / Minerals, Quality, Business, Costs

CHICAGO—Private label and national brands' shares of sales remained unchanged this past year, with private label and share of dollar sales increasing slightly due to above-average price inflation within the private label sector, according to new market data from Information Resources Inc. (IRI). However, thePrivate Label and National Brands report shows that the "new normal" puts value in the crosshairs of every purchase decision and paves new roads of opportunity for private label and national brand consumer packaged goods (CPG) marketers.

“While some industry experts believe private label has ‘had its day,’ IRI believes that private label and national brand marketers can enjoy mutual growth by not simply co-existing, but rather evolving and working together to serve the full spectrum of consumers’ needs and wants," Susan Viamari, editor of Times & Trends, IRI said. “Of course, consumers are shopping conservatively and looking for money-saving options, so they have embraced private label. However, national brands remain critical. In this environment, manufacturers and retailers must work together to provide a balanced assortment of national and private label solutions, targeted at the store level, to offer the best overarching value."
The grocery channel has seen the highest private label share at 21.9% of unit sales and 18.2% of dollar sales. In addition, the grocery private label landscape demonstrated the highest infiltration at 96.9%.
Private label share of volume increased across five of the 10 largest private label categories during the past three years. These categories are viewed as “staple" categories, since consumers tend to see little differentiation between private label and national brand options in these categories. Combined, share victories brought more than $2.6 billion to private label marketers’ top lines during the past year alone.

National brands are also demonstrating strength in important private label categories. During the same period, national brand marketers gained ground in the remaining top five private label categories, increasing the revenue they generate in these categories by a combined total of more than $1.7 billion across IRI’s multi-outlet geography. The biggest win for national brands is in the vitamins category, where volume share climbed 6.9 points since 2010.

In the coming months and years, consumers will continue to look to both national brands and private label solutions to find the best value for their money.

“Private label is clearly here to stay," Viamari said. “For private label to prosper, it is critical for private label marketers to understand the role of their brands in relation to competing national brands. And, national and private brand marketers must step up their collaborative focus, directing their efforts to retailer/manufacturer partners that ‘best fit’ their strategic goals and objectives. This type of strategic collaborative marketing partnership will increase sales and strengthen customer loyalty by getting the right products to the right place at the right time, with a targeted value proposition."

Sources:

IRi: New IRI Report Finds Opportunity for Private Label and National Brand Marketers to Combine Strengths for Mutual Growth

Check out my new e-book entitled: "Social Media Marketing in Agri-Foods: Endless Profit and Painless Gain"

Thanks for taking the time

Tuesday, 7 May 2013

Want to ‘wow’ customers? Stop asking them to buy stuff

LISA OSTRIKOFF

Special to The Globe and Mail

Published Thursday, Feb. 14 2013, 5:00 AM EST

Last updated Monday, Apr. 15 2013, 9:10 AM EDT

My last column on brand journalism sparked some great discussion and more questions from my network on exactly how businesses can implement a brand journalism strategy. Just to recap: Brand journalism is a useful way for brands, big and small, to use the approach of professional journalists to create, curate and share expert content in the form of blogs, articles and video. Businesses are essentially becoming their own media houses too, whether hiring internally or contracting out to people with journalism backgrounds.

Home Depot, Cisco and Boeing are just some of the more commonly talked about larger brand journalism examples, producing relevant media for their audiences in the forms of how-to content, demonstration videos as well as pages upon pages of industry-relevant information. You’ll never see any of the content pieces screaming ‘buy now.’ Rather – the aim is to educate, inform and even entertain its consumers.

RedBull, for example, constantly strives to ‘wow’ its fans through its brand journalism efforts.

The Austrian energy drink company has essentially created its own media network that pushes its content strategy via Red Bull Media House. Dubbing it as “Fascinating people, inspiring stories,” it’s content marketing library boasts thousands of professional videos on it’sYouTube channel. With 1.6-million subscribers and 550-million video views – its strategy is something to take a second look at.

RedBull’s content focuses on sports and events and, of course, athletes. It’s exciting and captivating content distributed via a variety of digital platforms including web video and social media. But YouTube is where it re ally rules. In fact, RedBull is one of the top five YouTube sports content producers in the world, and has launched more than a dozen web TV shows featuring its sponsored athletes.

The brand placement itself is minimal, if non existent, as the emphasis is instead on simulating and exciting content. RedBull’s magic brand journalism formula: create content people want to watch and share, while ensuring whatever it is in alignment with their image and message.

The idea central to brand journalism is that a brand needs to offer value in order to get something valuable back. Consumers are smarter than ever before and demand more respect. If a company can tell those stories in an authentic and non-intrusive way, it’ll start building a loyal community that wants to live, breathe and share this brand.

Businesses, marketers and advertisers can all learn a thing or two from Red Bull’s brand journalism approach. Next time you’re thinking about launching a ‘push’ commercial, bend your mind a bit. Instead, become the show.

Special to The Globe and Mail

Lisa Ostrikoff is a TV journalist and anchor-turned-creator of BizBOXTV, a Canadian online video production, advertising and social media marketing agency. You can find her on Twitter and Facebook.

Check out my latest e-book entitled: "Social Media Marketing in Agri-Foods: Endless Profit and Painless Gain".

The book is available on Amazon and Kindle for $4.99 USD. Visit amazon/Kindle to order now:
http://www.amazon.ca/Social-Media-Marketing-Agri-Foods-ebook/dp/B00C42OB3E/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1364756966&sr=1-1

Written by Bruce MacDonald, a 30 year veteran of the Agri-food industry, in "Social Media Marketing in Agri-Foods: Endless Profit and Painless Gain", Bruce applies his background and expertise in Agri-foods and social media to the latest trends, tools and methodologies needed to craft a successful on-line campaign. While the book focuses on the Agri-food market specifically, I believe that many of the points Bruce makes are equally applicable to most other industries.

Monday, 6 May 2013

Why your business needs video testimonials

LISA OSTRIKOFF

Special to The Globe and Mail

Published Thursday, Apr. 11 2013, 5:00 AM EDT

Last updated Monday, Apr. 15 2013, 9:11 AM EDT

Whether your company is selling a product or service, professional video testimonials have the power to swing purchasing decisions in your favour in a big way. Here’s why:

Consumers have a voracious appetite for video

Video consumption is increasing year after year: 92 per cent of Canadians now tune in at home or work, according to comScore, with more consumers scouring the second-largest search engine, YouTube, for business, service and product information.

Furthermore, video seems to offer a higher degree of authenticity as it allows viewers to see and hear from a client delivering the testimonial.

Real recommendations rock

You may think your products and services are great, but do your customers feel the same way? The reason platforms such as TripAdvisorand Yelp are so popular is that they present real stories about customer experiences and feedback, which carry a lot more weight than what a company has to say about itself.

Establish trust with the brand

Giving your clients the opportunity to offer their opinions adds a powerful layer of transparency to your brand. Viewers can watch real people provide genuine feedback, and the topics they cover will often address their main concerns about your business.

Content is king

When working with a company to produce your business’s video testimonials, it’s important to be clear on your messaging. Vague testimonials won’t spark the same response as topic-specific testimonials.

For example, if you have a car dealership, you may want to focus on questions such as: What was the experience like working with your sales team? How much money did your customers save? How did they find the process of buying a car through your dealership? What exactly do you love about your car? Why would they recommend others work with your clients?

Any unique features you would promote about your business tend to be great areas around which to produce testimonial videos.

An effective selling tool

If positioned properly, professional-looking videos are some of the most powerful tools a business can have in its marketing toolbox. The top places to promote your testimonial videos are: on your website, on relevant social media platforms, in e-mail signature, in-store displays, presentations, trade shows, client quotes and proposals.

Loyal clients will be happy to help

Video is such a powerful vehicle to communicate experience, and using it strategically will work wonders for any business. Leverage your loyal customers by asking them to provide testimonials about your business. If the video testimonials come across as honest and trustworthy, more and more potential customers will respond, translating into great results for your bottom line.

Special to The Globe and Mail

Lisa Ostrikoff is a TV journalist and anchor-turned-creator of BizBOXTV, a Canadian online video production, advertising and social media marketing agency. You can find her on Twitter and Facebook.

Check out my latest e-book entitled: "Social Media Marketing in Agri-Foods: Endless Profit and Painless Gain".

Saturday, 4 May 2013

Five secrets to winning more sales

GRANT CARDONE

Special to The Globe and Mail

Published Monday, Apr. 29 2013, 5:00 AM EDT

Last updated Thursday, Apr. 25 2013, 1:55 PM EDT

Sales is king in the new economy. Your success will be determined by your ability to generate revenue and sell, not just your products and services, but also yourself.

Here are five signs you’re well positioned to succeed at the art of selling:

1. Remember you’re in the people business. Lots of salespeople get caught up in what they are selling and forget that they’re in the people business. Your customer wants to be treated personally. I was recently at a dental office that had clearly forgotten they were not in the business of teeth, but of making patients happy and comfortable.

Getting attention and maintaining your customers’ interest is a huge problem today. But walk into any big-box outlet, restaurant or professional office and you might not even be acknowledged. Before I visit or work with any client, I remind myself, “This is a unique individual who deserves distinct treatment.”

2. Focus on the results, not the effort. The sales game is not one of organizing, planning or meetings – it’s about getting results. Sales people often spend time kidding themselves about doing busy work and don’t get in front of customers who can buy their products.

Your success in selling is about getting results and that means getting your products into the hands of more customers. A great salesperson knows how to get the customer’s attention and present their product or service in a way that causes the customer to buy. Don’t confuse results with efforts. You don’t try to get an appointment – you either get it or you don’t.

3. Do the uncomfortable thing. The best sales people I have ever known are willing to throw themselves into harms way. So convinced of their offer, they are willing to get in front of the tough customers, ask the hard questions and go for the close. Doing the uncomfortable thing is where the top performers live.

I always call my toughest clients first and keep calling on them long after everyone else has given up. Once a month, I make a list of our company’s most difficult customers and create an attack plan on how to get those accounts. The first month we incorporated this strategy, I landed one of the biggest deals of my career. You can’t bring the big deals home without getting into the deep waters where the big fish swim.

More from Entrepreneur:

4. Wow the customer. Great sales people look for ways to inspire a customer’s emotional involvement and create the urgency to take ownership. When you wow a customer you make a difference and cause them to want to hold onto that experience. You can take any product – even a boring one – and make it a wow presentation.

I once showed a client the glass doors on a home by demonstrating how they would be hurricane proof, slapping on both sides to evidence their construction quality. This immediately got the customer’s full attention and set apart the product and me from the competition. Average doesn’t pay in sales. Wow them with your presentation, your dress, your belief in the product and the service you offer.

5. Ask for the sale. This may seem very simple, but most salespeople never ask for the sale. This is hard to believe, but it’s true. We recently did a mystery shop on over 500 businesses and at more than 70 per cent of them, the salespeople never asked us to do business. Regardless of your product, price or how professional you are, if you don’t ask, you will only sell to those who are going to buy regardless.

I keep a tally of every time I ask a customer to do business with me. This keeps me focused and increases my sales.