It is an interesting and somewhat confusing time for retailers in trying to decide how to spend their limited marketing dollars. I have spoken to many small businesses recently who just don’t know what approach is now getting the biggest bang for the buck. Should I put coupons in an FSI? Should I just use in store promotions? Should I advertise on my website? Should I use social media? Today, the answer to all of these questions is yes!
Make no mistake; there is a transition taking place. Consumers are moving online …but the transition is still occurring. Today, according to an article in internet Retailer, “More than half, 54% to be precise, of U.S. consumers who regularly shop on the web research products online before making a purchase, whether they buy in a store, on the web, via a mobile device, or through a catalog call center, according to a study released this week by research and advisory firm The E-tailing Group Inc.” And, according to the same article/study, “at least 76% of consumers research 30% of their purchases online.” To ignore these trends would be shortsighted, and in the long run, probably fatal.
However, consumers still look to the traditional methods to find products that meet their needs and budgets. In this challenging economy, consumers are better planning purchase decisions. They are looking for any source that can provide them with value. In a recent study conducted by Kantar Media, Retailer FSI pages (Free Standing Inserts) grew 31% to more than 17 billion pages last year. Although, the first half of 2012 is down slightly to prior year, the number of pages is still up significantly over 4 years ago. In 2011, according to a Valassis study, 80.6% of consumers reported using coupons regularly. 89.4% of all coupons were distributed in the free-standing insert.Surprisingly, “the total quantity of digital coupons did not yet exceed 1% of all coupons distributed in the United States.”
Out of this somewhat contradictory information an effective marketing plan and budget can be crafted. The approach any retailer needs to take in planning how to spend their marketing dollars should be balanced. The earlier a retailer can impact a consumer’s decision making process, the better chance that consumer will visit your place of business. It is critical to jump into online marketing with both feet to capture the emerging trends, but it is also key to any marketing campaign to continue to target existing media at least for the foreseeable future. They are not, and should not be seen, as mutually exclusive. Need help in trying to decide? Leave your contact information…
Make no mistake; there is a transition taking place. Consumers are moving online …but the transition is still occurring. Today, according to an article in internet Retailer, “More than half, 54% to be precise, of U.S. consumers who regularly shop on the web research products online before making a purchase, whether they buy in a store, on the web, via a mobile device, or through a catalog call center, according to a study released this week by research and advisory firm The E-tailing Group Inc.” And, according to the same article/study, “at least 76% of consumers research 30% of their purchases online.” To ignore these trends would be shortsighted, and in the long run, probably fatal.
However, consumers still look to the traditional methods to find products that meet their needs and budgets. In this challenging economy, consumers are better planning purchase decisions. They are looking for any source that can provide them with value. In a recent study conducted by Kantar Media, Retailer FSI pages (Free Standing Inserts) grew 31% to more than 17 billion pages last year. Although, the first half of 2012 is down slightly to prior year, the number of pages is still up significantly over 4 years ago. In 2011, according to a Valassis study, 80.6% of consumers reported using coupons regularly. 89.4% of all coupons were distributed in the free-standing insert.Surprisingly, “the total quantity of digital coupons did not yet exceed 1% of all coupons distributed in the United States.”
Out of this somewhat contradictory information an effective marketing plan and budget can be crafted. The approach any retailer needs to take in planning how to spend their marketing dollars should be balanced. The earlier a retailer can impact a consumer’s decision making process, the better chance that consumer will visit your place of business. It is critical to jump into online marketing with both feet to capture the emerging trends, but it is also key to any marketing campaign to continue to target existing media at least for the foreseeable future. They are not, and should not be seen, as mutually exclusive. Need help in trying to decide? Leave your contact information…
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