Tag Archives: mmgroupusa.com montreal

DATA COLLECTION: MARKETING MANAGEMENT GROUP SOLUTION

Data is at the heart of any business. It should be collected at every point where there is interaction with customers. However, when businesses consider collecting data, they should think about what they want, why they want it and where they can get it from.

Sounds obvious? The trouble is that many businesses store data ‘just in case’, creating a database of little use to them and which drains resources. So, here are some key steps to consider:

1. Set objectives

Businesses need to ask some pragmatic questions about what is achievable. Any data capture must be proportionate to the businesses’ relationship with the customer. Businesses should, of course, collect the information they need to market to prospects but they shouldn’t collect in-depth information until they know whether prospects are going to become customers.

2. Capture the right data

More detailed data can be recorded about high value customers than for those with whom the business has fewer dealings. It’s also very useful to learn how the customer heard about the firm, to check on the efficacy of your own marketing and to see who’s recommending your business.

Some data capture – particularly factual data – can be automated with the customer effectively filling in a form.

Once such data is collected, the data house should rank and dovetail it into the database in a useable form. However, human contact is important when collecting information about the customer’s relationship with the company, why they like or dislike the product or service and how the business can serve their needs. A greater degree of depth can be gained through manual data capture – client reactions, intonations, nuances, etc.

4. Capture lifestyle data

Businesses often capture data for two specific reasons. Firstly, in larger organisations the more marketers understand about individual contacts, the more they are able to tailor their marketing. Secondly, many small businesses are managed by their owners, so understanding the owner becomes critical. Collecting consumer-type information can be done direct from the individual and then be enhanced from a third-party data source.

5. Get collegues on board

Once businesses have decided what data they need and why, they have to motivate their staff to collect it. It is vital that staff understand why the data they are capturing is important. Staff renumeration and recognition packages need to reflect success and accuracy in data capture.

Data should be collected at all touch points by any member of staff who has communication with customers.

TO FIND OUR MORE ABOUT THE DATA COLLECTION COMPONENT OF THE MARKETING MANAGEMENT GROUP WWW.MMGROUPUSA.COM     MMGROUPUSA.COM Continue reading

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MMGROUPUSA.COM – Our definition of what marketing is…

We are often ask to define our position on what marketing is and should be…Find below the answer to the question:  what is marketing…?

We believe that marketing is (and should be) :

1-the “continual education of a customer or prospect for the life of that customer on the advantages and benefits of the retail operation and what a transactional relationship with your location will bring them more or different then any other retailer will;

2-  the intelligently formulated process of increasing their demand or desire for your products;

3-  the strategic process of bringing clients and prospects to closure and to completed action through relationships and communication.

In other words 1- To educate prospects and customers on your unique selling proposition

                          2- To communicate in order to increase the demand for your product 

  3- To bring prospects and clients to closure with a transaction or a sale

We are adamant about the fact that Marketing cannot be executed without a tangible way of reaching your customers and prospects ( therefore a database)…And the right database cannot be created without a data collection process…

To market effectively you need to create a list of prospects and clients with as much contact information as possible, and then create and execute marketing campaigns to reach out to your lists and convert transactions from it!

Become a student of possibilities and practice the art of marketing!

mmgroupusa.com

Three ways of increasing the income of any retail operation… Two “retailer attitudes” that can be adopted!!!

There are only 3 ways of increasing the income of any retail operation:

1- Increase your number of new clients

2– Get your regular clients that have transacted with you in the past to transact more often with you …

3- Increase the amount of money spent in your location for each transaction (through up selling and/or cross selling…)

No matter what you do, it always comes back to one of those 3 strategies…

As a retailer two different attitudes can be adopted towards the first 2 strategies…(we are assuming that as a retailer you and/or your team are skilled at the art of ethically up selling and cross selling your clients in order to maximize each of your transactions)

Attitude 1—->     Relying on organic or natural growth (word of mouth, street or mall traffic exposure, posting sale signs in windows, internet exposure via website, Facebook etc…In our jargon we call this the “sit and wait” strategy…(often adopted by retailers because every dollar spent on advertising in the past have never yielded any return or results…)

The problem with relying on organic growth is that so many retailers do the same things, that it has less and less effect on the marketplace. When new retailers pop up in a given market and when established competition fights to artificially increase their organic growth,  some kind of driving force pulling clients and prospects to a location has to be exploited otherwise the “spending value” of the market gets diluted and therefore the income of retailers suffers…

Another issue with organic growth is that the performance of any business is usually measured on a 12 month time line… Organic growth does not work, rely or care about this 12 month time line…In other words, “it marches to the beat of its own drum” (a bit like word of mouth)…

Attitude 2—->     a) Artificially accelerating your organic growth for new transactions…  Through a marketing plan implemented and executed using a a mix of advertising and marketing with an objective to drive in new clients via specific campaigns, or ads…

                             b) Artificially accelerating organic growth for residual transactions. In other words reaching out via physical mail, email and/or phone calls to clients that have transacted in the retailer’s location in the past in order to increase the ratio of repeat transactions they do in a year…

We have found over the years, that the greatest advantage of a retailer adopting the attitude of artificially accelerating growth can be found in their belief system. They are usually resolved about standing out and being pro-active when it comes to fighting for clients and prospects in their marketplace, in order to maximize their sales on a 12 month time line… As an interesting analogy, they want to strategically shout their presence rather than calmly announce it…We have noticed that this attitude and mindset can find its origin sometimes to a survival instinct for the retail business and at other times to the burning desire to always increase the performance of the retail operation year after year.

Corporate retailers as a culture will always adopt a strategic mix of artificially accelerating growth for new clients and residual transactions…

-The greatest success stories in stand alone retail operations often have adopted this  attitude as well…

-The ultra high end brands have had no choice but to slowly incorporate this attitude into their culture to stand a chance and compete… 

As a marketing firm dedicated to driving new business and increasing residual transactions, we are firm believers that organic growth is a thing of the past when it comes to surviving in a retail marketplace… Since striving rather then surviving should be every retailers reality and focus it makes all the sense in the world to perfect the skill of artificially increasing your organic growth…

In any marketing approach, the path to obtaining results is not invented but rather learned through adjustments made from trial and error… Interestingly enough the solutions implemented today to achieve results might not be the solutions that need to be applied tomorrow…Moving on the technological band wagon too early because it is a trend can cause a retailer expenses with lacking financial results…Technology should carefully be used as a logical evolution that is overwhelmingly craved by your marketplace.

The same way a retailer refers to specialist and skilled experts to manufacture what they sell, retail marketing specialists should be used to exploit new revenue streams; They are in the business of adjusting to trends and responses to achieve measurable results…

Whether you have relied on organic growth in the past or have practiced the art of accelerating it, you need to realize that more aggressive sale objectives are not only a possibility but an obtainable reality and  your current situation is the starting point…

As a retailer if you are a student of possibilities, then a program like the one we offer can teach you the paradigms necessary to increase your sales and implement them for you…

www.mmgroupusa.com , The Marketing Management Group, 

More Then $450 million will be spent in the GTA in retail clothing stores in February of 2014

According to last year numbers between $450 and 500 million will be spent in retail clothing and accessories in January of 2014 in Toronto alone and close to the same amount in February of 2014!

Review the data below for Canada in the chart below. contact mmgroupusa.com – Marketing Management Group for a solution on how to tap into a greater share of the market. support@mmgroupusa.com.

Canada Clothing and Clothing Accessories Stores Retail Sales

Link

Online and Offline Marketing plans...   Neither one can be neglected!

There are a number of ways in which you can market a retail operation but there does seem to be an on-going debate between traditional offline marketing and utilizing online marketing to capture that new audience and increase frequency of purchase of your regular clients.

The truth is that either one can be neglected or else anyone one ran on as a stand alone strategy becomes weakened without the other.

Offline Marketing by www.mmgroupusa.com

The Power of Direct Mail in 2014: Once you have collected a database of information of both customers and potential customers you have the chance to send them direct mail. Direct mail allows you to target individuals with specific messages that are tailored to them, while also keeping your operation in their minds on a semi-regular basis, offering incentive, rewards, relational communications. The shift in direct mail pricing and policies have made mail boxes  less and less cluttered as opposed to 5 years ago…This creates a real opportunity for greater response rates when executing direct mail campaigns… As long as your communications deliver first and foremost your brand and are addressed personalized to each respondent of your database you can take advantage of a crucial marketing funnel.

Online Marketing by mmgroupusa.com

As much as results from marketing has its roots traditionally in the offline type in recent years the focus has started to shift towards online marketing and making the most of a world where more and more people from all demographics and locations are using the internet. The danger remains the increase clutter of information found in most email boxes, social media networks as well as the fact that a large portion of a retailer’s target audience never receives any communications…

There are again, a number of different ways in which you can capture a new audience online, from creating a website, blogging, using paid advertising on search engines and utilising the many different social media platform available, and there are a number of benefits:
Cheaper than Offline But…:

By using online marketing  web design and search engine optimization you can run a hefty expense for a portion of your target audience …There is also a lot you can do online yourself for free or with a low budget, especially when it comes to social media.
Wider Variety of Options: With the internet expanding in capability and users you have a much wider set of options to use in order to entice new customers. From website to blogs, videos to paid advertising, you can test out different ideas and tweak your approach as it is live to ensure the very best outcome for your business. It can be a lot more hands on than offline marketing but there is so much more control in the process.
Track Real Time Results: When marketing online or offline tracking is everything. You have more scope for analysis  as you are able to see what type of people are replying to your communications online and offline, or interacting with you on social media. Quite quickly you can build up a profile of your perfect customer in this way. You also have the ability to put in place tracking codes to determine real time results as they occur, seeing a real return on investment.

For a turn key online and offline marketing program that provides real results contact us :

By phone: (855) 904-6644

website www.mmgroupusa.com or

email: support@mmgroupusa.com