opportunities in the retail market
DESCRIPTION
For most print service providers, their biggest challenge is identifying and capturing new clients--especially in this highly competitive marketplace. One often overlooked strategy is looking to vertical markets for new revenue opportunities. To better assess your capabilities to serve vertical markets, you need to first understand their behaviors and service needs.This presentation on the Retail Market is part of a series of PowerPoints created to help you better understand, and target, six of the highest value verticals according to InfoTrends.Let’s get started. Do you have any retail clients in your portfolio? If not, you may be missing out. The retail industry consists of over 725,500 firms employing more than 15 million people, according to US Census data.Brought to you by Mohawk MakeReady, this presentation can be used for your internal training purposes.TRANSCRIPT
September 2011 | Opportunities in the Retail Market
A vertical focus for approaching new clients
September 2011
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Research by InfoTrends 2011
September 2011 | Opportunities in the Retail Market
Companies you interact with
The Market Defined
Retailers sell merchandise, generally without altering it
and deliver services related to the sale of those products.
Retailers fall into two categories: store retailers and non-
store retailers.
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Source: InfoTrends 2011
September 2011 | Opportunities in the Retail Market
Top Trends For This Market
• Retail companies have more customer data than ever before
• Mall attendance is in decline… retail business need to be mobile,
social and engage in precision marketing
• Increased number of media channels used to reach customers
• More than half of the marketing spend is allocated to print
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Source: InfoTrends Capturing the Cross Media Direct Marketing Opportunity 2010
September 2011 | Opportunities in the Retail Market 4
Channels Used in Direct Marketing
Retail has been quick to embrace
using multiple channels in their direct
marketing efforts. If you’re company
can provide more than print, there’s
definitely opportunity to grab a piece
of the pie (or donut, rather).
Source: InfoTrends Capturing the Cross Media Direct Marketing Opportunity 2010
September 2011 | Opportunities in the Retail Market 5
Cost:Provide alternatives to show flexibility
Multiple Channels:Are they being used as effectively as they can?
September 2011 | Opportunities in the Retail Market
Did you know that the average annual external print spend in the retail
segment equals $28,000?
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According to InfoTrends…
Source: InfoTrends’ Capturing the SMB Communication Services Opportunity 2009
September 2011 | Opportunities in the Retail Market
Retail organizations have a wide
variety of marketing communications
needs. All of these needs provide a
tangible opportunity for your
company’s services.
So, what are they producing?
• Signage
• Point of sale advertising
• E-Mail marketing
• Print directories
• Printed direct mail
• Newspaper advertising
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September 2011 | Opportunities in the Retail Market
Bringing More Value
One way to differentiate your
company is to provide unique
materials that enable higher value
printed products to be created. Let’s
take a look at how Mohawk Bravo
Digital Substrates can help you
provide this value to your retail
customers.
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September 2011 | Opportunities in the Retail Market
Hair Care Salon:Build rewards programs to reduce guest churn
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September 2011 | Opportunities in the Retail Market
Campaign Results
• Response rates between 14% - 20 % depending on segment
• Advertising to sales ratio: 6 to 14 pieces for one sale
• Members using Fantastic Rewards spent almost 33% more than
an average transaction
• Strong up-sell performance, particularly with female guests who
never had a color service
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Source: PODi.org
September 2011 | Opportunities in the Retail Market
The retail market provides many
revenue opportunities for you as a
print service provider. The
opportunities include these key
products and services:
Why You Should Consider Pursuing this Market
• Campaign management
• Database management
• Data-driven personalization
• Cross media services
• High-quality digital print
• Mailing & Fulfillment
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September 2011 | Opportunities in the Retail Market
Mohawk MakeReady provides practical tools
and actionable information for digital
printers like you.
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We can help…
Visit: www.MohawkMakeReady.com for more tools, to request a meeting, or to join the community.