I love nothing better than a procedural television show. Whether it’s a real-life murder mystery on Dateline or a fictional CSI case, I like trying to solve a whodunit. In everyday life, I also enjoy making connections between things I hear and see through conversations and observations — putting together the pieces of the puzzle to get a full picture. So it’s no wonder that one bit of wisdom I heard recently jumped out at me. During a speech, an apparel executive said, “Whether you’re a retailer or a wholesaler, your job is to find the balance between listening to and leading your customer.”
By Jeremy Richardson - Tuesday, February 14th 2012
A new mom goes into her local baby products store to shop for a stroller. The store has all the best brands and latest models, a friendly and knowledgeable staff, and sufficient on-hand inventory. The new mom kicks the tires, trades stories with the salesperson, and focuses in on the brand, model, and color that she wants. After noting the price, when she has a minute away from the salesperson, she scans the barcode using a price finder app on her smartphone and purchases the stroller from an online discounter at a lower price. Does this scenario sound familiar?
By Insights Discovered - Wednesday, February 8th 2012
I happen to live in Las Vegas, where slogans such as “You can’t win if you don’t play,” define our local gaming community. I have to admit it’s hard to argue with that logic, Who can win at slots, poker or blackjack without opting in to play? Bystanders don’t reap any rewards. Only those who are willing to put up the cash and potentially lose it, have the chance to win and win big dependent upon the size of their bet. Most don’t win big but some do; some break even, while others lose. The same is true when it comes to marketing. Without it, you are like those bystanders, watching your competitors play.
By Insights Discovered - Friday, January 20th 2012
There’s something motivating about a fresh start. That must be why each year we think about what resolutions we will make for the New Year. We list our aspirations and resolve with confidence to realize these goals. For many, just weeks into the new year we fall back into our old ways and the resolutions seem to fade away until the next new year when we once again make resolutions. Even after a few weeks into January, it’s not too late to start anew and resolve to make positive changes. Those who achieve success are the ones who apply a structure to their efforts, assign accountability to the goals, and define measurable milestones to ensure progress is being made.
Getting a retailer to buy your line is great — and especially exciting if the collection is new to the market — but convincing them to reorder should be your ultimate goal. And reorders are always based on how well your goods sold the previous season. If items flew off the racks, buyers will naturally seek you out the next time around. If too much of your line landed in the sale bin, however, your name will likely plummet from their must-shop list. Despite the importance of sell-throughs, it seems vendors sometimes forget the role they have in ensuring their lines take off at retail. Without you, your products are left to fly solo in the face of whatever headwinds come their way…
By Jeremy Richardson - Tuesday, December 13th 2011
Whether you have a great children’s brand that you want to expand, or a great children’s product that could use the powerful boost of a well-known name, a licensing agreement can take your business to the next level of success. But to get the most out of a licensing opportunity, you need to find the right partner who knows the industry and understands your vision and goals for your brand or product. The benefits can be significant, but licensing partnerships are not without risks.
By Insights Discovered - Thursday, December 8th 2011
It’s that time of the year when we all feel the philanthropist in us calling to help others in need. During these tough economic times it is not difficult to find worthy targets for our generous hearts. Most people donate cash, food or even their time to help those in need. We want to do these charitable labors and that’s awesome! Some feel it’s not sincere if our efforts are reciprocal, meaning both sides receive something, but that’s not necessarily true. There are many instances where giving can give back and everybody benefits.
Marketing is filled with commonly used adages, though some of them are clearly half-baked. One that I hear often is, “Consumers are no longer brand loyal.” And while there’s a kernel of truth to that maxim, you could get burned if you simply accepted it on face value. True, most of us will not carry a flame for one store, product or experience from cradle to grave, but that doesn’t mean we can’t form affinities for certain items or shops. So even as marketers bemoan consumers’ fickle tastes, they spend millions of dollars a year trying to cook up ways to stoke our devotion…
By Insights Discovered - Tuesday, November 8th 2011
Not unlike a hiker who discovers he is lost and begins to panic, some business owners have experienced similar distress when their business fails to perform at an expected level. The hiker hopefully remembers some basic survival tools to help him out of his situation. For example, S.T.O.P. (Sit-Think-Observe-Plan) is an acronym survivalists use to remember how to remain calm and keep a level head when trying to figure out how to get back to safety. Company managers of any business type can use this same acronym if they find themselves in an uncomfortable position and would like to get their business back to a safe place.