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 Fronetics | Nov 21, 2017 | Blog, Current Events, Marketing
These 10 podcasts for marketers discuss the latest news and trends in the marketing world relevant to the supply chain and logistics industries.
Podcasts have surged in popularity over the past few years. At least 112 million Americans have listened to podcasts, a figure up 11% from last year, with 67 million listening at least monthly. So why are they so popular?
Podcasts are a series of digital audio files that listeners can subscribe to. With the flexibility to listen at their convenience, followers are drawn to the ease and mobility of podcasts. And the available topics are endless.
For supply chain and logistics marketers, podcasts provide the latest digital marketing news, as well as innovative trends that are new to your industry. Here are 10 podcasts that deliver the most up-to-date news in marketing for supply chain and logistics companies.
10 supply chain and logistics marketing podcasts
Millions of dollars are being left on the table right now by supply chain companies because of poor marketing! Supply Chain Gold delivers actionable marketing strategies and information to logistics and 3PL companies, distribution centers, and fulfillment centers to help bring in more sales and increase profit margins. The Supply Chain Gold podcast warehouses internet marketing secrets that your company can leverage to lower customer acquisition costs, grow revenue, increase net profits, drive brand recognition, and dominate your industry.
- #AskGaryVee
Gary Vaynerchuk — author, speaker, and owner of multi-million dollar marketing company VaynerMedia — uses his podcast to answer questions about marketing, social media, and general entrepreneurial topics that his followers ask on social media. If you’re looking for a high-intensity host whose responses are no-fluff, honest, and a tad explicit from time to time, Gary might be just the straight-talking expert you need.
The Marketing Book podcast helps business owners and marketers keep up with the smartest thinking in the quickly changing field of modern marketing. Each episode interviews authors and marketers to give you actionable marketing insights, tips, tactics and resources to help grow your business.
Social Media Examiner’s weekly podcast is hosted by Michael Stelzner and other members of SME’s team. Each podcast focuses on new social media features and strategies, providing listeners with actionable tips they can use to improve their social media results.
Copyblogger FM is a weekly, short-form broadcast hosted by Sonia Simone. Each week she and a team of rotating experts discuss the week’s news and updates in the field of content marketing, email marketing, copywriting, conversion optimization, and more.
John J. Wall and Christopher S. Penn host a 20-minute, weekly show recorded in a local coffee shop. The podcast is designed to be casual and conversational. They share tips on social marketing, SEO, search marketing, copywriting, affiliate marketing, and more. They also take listener questions.
Industry experts Eric Siu and Neil Patel offer users unconventional marketing wisdom that will make you want to kick some of your traditional strategies to the curb. Their goal is to bring valuable, actionable marketing tips in just 10 minutes.
Buffer’s blog is highly successful, so no wonder its podcast is equally informative. The content will appeal to anyone who practices social media marketing, whether you’re brand new to marketing or you’re a social media practitioner. They regularly have industry leaders on the show, including Mari Smith and Neil Patel.
Know Your Audience is a weekly podcast that interviews journalists, bloggers, data scientists, and analytics/audience development professionals. The goal is to start a meaningful conversation about what it takes to create engaging content and learn from the people who are shaping the future of media.
Listen and learn from interviews with social business leaders representing top brands and agencies. Host Bernie Borges leads an educational format as guests share their experiences and insights on social business topics including marketing, selling, customer service, employee advocacy, recruiting and commerce to fuel your social business journey.
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by Fronetics | Nov 20, 2017 | Blog, Content Marketing, Marketing, Social Media
Measuring brand awareness has been notoriously difficult. But these 4 metrics can help you evaluate if potential customers are encountering your content.
Companies work hard to get their products and services out into the world. It’s a key step in gaining exposure among potential customers and earning new business. This process is called brand awareness, the extent to which consumers are familiar with your brand.
Heightening the public’s knowledge of your business will generate leads, some of which will turn into sales. But this knowledge, or brand awareness, has proven difficult to measure. Do potential customers know your name, what you sell, and where to contact you? Creating ways to measure how recognizable your business is will show you what people think of your company, as well as where you should be focusing your time and money to help grow your exposure.
Here are 4 metrics to measure your brand awareness.
1. Social media reach
The larger your social media reach, the larger the potential audience. The reach of your social media content has a big impact on your brand awareness. Tracking engagements on each network will help you measure progress, build a greater following, and, ultimately, generate more site visits.
Use tools like Sharedcount, a free online tool that tracks the number of times a piece of content has been shared on the most popular social media sites — including Facebook, Twitter and LinkedIn — to easily keep track of your social reach.
2. Blog shares
Your blog content is the perfect fodder for organic brand awareness, especially if sharing your posts is easy. Create a share bar on your blog to allow your readers to quickly share your content through social media networks. Measure your number of shares to track your most popular blogs, monitor your growing brand awareness, and help guide the topics of your future blog posts.
3. Brand mentions
Are customers talking about your brand online? There’s a great deal of value in knowing what they’re saying. Monitoring brand mentions online can provide honest feedback and objective insight from current and potential customers.
There are several tools to help you track brand mentions online. Here at Fronetics, we prefer the ease of Google Alerts, which allows you to set up custom alerts when your brand is mentioned online. We also use Hootsuite, where you can track brand mentions, as well as keywords and phrases across all of your social media platforms.
4. Website traffic
Every visit to your website represents someone who is familiar with your brand. The question is: How are people finding your website? Think of web traffic in terms of sources:
- Organic traffic – users come across your website from search engines
- Direct traffic – users type in the name of your website or brand directly
- Referral traffic – users find your website from links on other websites
- Social traffic – users come across your website from social media content
- Paid search/social – users click on one of your paid digital ads, which drives them to your site
- Email traffic – users click through one of your marketing emails
You’ll want a healthy balance of each source to ensure your brand awareness campaign is diversified. Measure each of these metrics using a platform like Google Analytics or HubSpot. As each grows, you’ll know your brand awareness is growing alongside.
Use these 4 metrics to measure your brand awareness and track your progress as you work to grow your exposure. See where you’re having the most success and where you need improvement, and adjust your strategy accordingly.
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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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