Marketing Articles About Profitability Search Results
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- Retailers Reprogram Workers...Should Reprogram Customers. In an article in yesterday's Wall Street Journal, Ann Taylor and stores like it were profiled for their use of systems like Atlas (Ann Taylor Labor Allocation System), developed by RedPrairie Corp, that track employee sales and activities and adjust their schedules to match the store's busy times, thus maximizing profitability. While I understand this is a great productivity tool, it's taking a bit of the humanity out of retailing...somewhat.
The sluggish national economy has put pressure on many retailers to pinch pennies. "The single biggest controllable cost in retail is people," says Carl Steidtmann, chief economist at Deloitte LLP. Because few retail workers belong to unions, he says, it is easier for employers to "move people around." Vendors of the systems claim they can boost productivity by 15% or more, and can help cut labor costs by 5% or more.
What I find even more interesting, and this is JUST for Ann Taylor (having a wife who's a fan of their clothes) is the heavy discounting that they've trained their customers to come to expect! Just last night, she produced a series of coupons, some for actual dollar amounts off of the merchandise and some for large percentages like 20% to 30% off any purchase over a certain figure.
I understand margins, I know that they're high in the fashion industry, and I'm sure that there's good reason for this. However, customers of Ann Taylor and other brands like them (some of those mentioned in the article, most likely) have trained their customers to shop based on price and incentives. Period. Sure, the clothes fit...but seriously - 30% off on a regular basis?
Action Item: So, what have you trained your customers to do? Expect things on sale, expect things you don't like doing? This is a great opportunity (and I'm doing this too) to look at your customer base from the perspective of lifetime value, and re-segment them based on 'those who should be with you in the future' and 'those who aren't going to be with you in the future'.
(02/24/09 09:00 AM)
- New Event! What's Your Marketing Stimulus Plan?.
I've just launched the first of a series of marketing, thought leaderships and social media events that I'll be running in Wisconsin in 2009. If you're up for some 'marketing stimulus', I recommend that you check out this program!
The MarketingSavant Group invites you to attend the Marketing Stimulus Plan Boot-Camp, a one-day in-depth workshop that will jumpstart or revitalize your marketing efforts in these tough times. The best companies don't cut marketing spend in a downturn, they do the opposite. They know that even the toughest market conditions still provide plenty of opportunity.
Attend this one-day workshop to refine and revitalize your marketing strategy to help you swim upstream during the recession and position your company for long-term success.
Who: The MarketingSavant Group
What: What's Your Marketing Stimulus Plan? Workshop
When: January 27th, 2009 from 8:30 to 4:45
Where: De Pere, WI at the F.K. Bemis Center - St. Norbert College
How Much: $295 early reg / $395 after 1/9/09
Where do I Sign Up: At the Eventbrite websiteMarketing managers, sales professionals, business owners, and executives within small to medium sized companies responsible for sustaining profitability and striving growth in a downturn will learn how to:
* Develop a road map for putting frugal, ethical and effective marketing strategies in place immediately
* Understand how new approaches in digital and social media marketing can catapult your company into new market opportunities
* Adapt your marketing spend for today's unpredictable economy
* Adjust prices and promotions without sacrificing market share or brand image
* Focus on accountability and obtaining measurable results from your investments
* Improve strategic and tactical planning with marketing ROI techniques and tools
* Manage your marketing budget and collaborate CFO and CEOIt's been said that "Every adversity carries a seed of equal or greater benefit." This program will help you and your business find the silver lining in those dark clouds by adopting creative, compelling, and low-cost/high-return marketing strategies. We'll discuss and learn new ways to devise new strategies to overcome economic turmoil, and execute new tactics to win, sustain and grow new business.
Bonus Item for Attendees:All attendees will receive a copy of Marketing in a Downturn: Recession-Proof Strategies for Smart Marketers, a 90-page e-book featuring over 25 interviews with leading marketers, consultants, managers and business owners sharing their most effective marketing strategies for remaining profitable and sustaining growth during a downturn.
Who Should Attend?
* Marketing and communications professionals
* Small business owners
* Channel and brand managers
* Entrepreneurs and start-up managers
* Advertising and public relations professionals seeking new client solutionsYou'll Walk Away With:
* Dozens of low-cost and effective ideas that you can implement immediately to jumpstart your marketing in the recession of 2009
* The tools, templates and action plans you'll need to succeed in the world of digital and social media marketing
* An idea packed e-book, Marketing in a Downturn: Recession-Proof Marketing Strategies for Smart Marketers, on how to make the most of your marketing in a recession
(02/24/09 09:00 AM)
- New Event! What's Your Marketing Stimulus Plan?.
I've just launched the first of a series of marketing, thought leaderships and social media events that I'll be running in Wisconsin in 2009. If you're up for some 'marketing stimulus', I recommend that you check out this program!
The MarketingSavant Group invites you to attend the Marketing Stimulus Plan Boot-Camp, a one-day in-depth workshop that will jumpstart or revitalize your marketing efforts in these tough times. The best companies don't cut marketing spend in a downturn, they do the opposite. They know that even the toughest market conditions still provide plenty of opportunity.
Attend this one-day workshop to refine and revitalize your marketing strategy to help you swim upstream during the recession and position your company for long-term success.
Who: The MarketingSavant Group
What: What's Your Marketing Stimulus Plan? Workshop
When: January 27th, 2009 from 8:30 to 4:45
Where: De Pere, WI at the F.K. Bemis Center - St. Norbert College
How Much: $295 early reg / $395 after 1/9/09
Where do I Sign Up: At the Eventbrite websiteMarketing managers, sales professionals, business owners, and executives within small to medium sized companies responsible for sustaining profitability and striving growth in a downturn will learn how to:
* Develop a road map for putting frugal, ethical and effective marketing strategies in place immediately
* Understand how new approaches in digital and social media marketing can catapult your company into new market opportunities
* Adapt your marketing spend for today's unpredictable economy
* Adjust prices and promotions without sacrificing market share or brand image
* Focus on accountability and obtaining measurable results from your investments
* Improve strategic and tactical planning with marketing ROI techniques and tools
* Manage your marketing budget and collaborate CFO and CEOIt's been said that "Every adversity carries a seed of equal or greater benefit." This program will help you and your business find the silver lining in those dark clouds by adopting creative, compelling, and low-cost/high-return marketing strategies. We'll discuss and learn new ways to devise new strategies to overcome economic turmoil, and execute new tactics to win, sustain and grow new business.
Bonus Item for Attendees:All attendees will receive a copy of Marketing in a Downturn: Recession-Proof Strategies for Smart Marketers, a 90-page e-book featuring over 25 interviews with leading marketers, consultants, managers and business owners sharing their most effective marketing strategies for remaining profitable and sustaining growth during a downturn.
Who Should Attend?
* Marketing and communications professionals
* Small business owners
* Channel and brand managers
* Entrepreneurs and start-up managers
* Advertising and public relations professionals seeking new client solutionsYou'll Walk Away With:
* Dozens of low-cost and effective ideas that you can implement immediately to jumpstart your marketing in the recession of 2009
* The tools, templates and action plans you'll need to succeed in the world of digital and social media marketing
* An idea packed e-book, Marketing in a Downturn: Recession-Proof Marketing Strategies for Smart Marketers, on how to make the most of your marketing in a recession
- Retailers Reprogram Workers...Should Reprogram Customers. In an article in yesterday's Wall Street Journal, Ann Taylor and stores like it were profiled for their use of systems like Atlas (Ann Taylor Labor Allocation System), developed by RedPrairie Corp, that track employee sales and activities and adjust their schedules to match the store's busy times, thus maximizing profitability. While I understand this is a great productivity tool, it's taking a bit of the humanity out of retailing...somewhat.
The sluggish national economy has put pressure on many retailers to pinch pennies. "The single biggest controllable cost in retail is people," says Carl Steidtmann, chief economist at Deloitte LLP. Because few retail workers belong to unions, he says, it is easier for employers to "move people around." Vendors of the systems claim they can boost productivity by 15% or more, and can help cut labor costs by 5% or more.
What I find even more interesting, and this is JUST for Ann Taylor (having a wife who's a fan of their clothes) is the heavy discounting that they've trained their customers to come to expect! Just last night, she produced a series of coupons, some for actual dollar amounts off of the merchandise and some for large percentages like 20% to 30% off any purchase over a certain figure.
I understand margins, I know that they're high in the fashion industry, and I'm sure that there's good reason for this. However, customers of Ann Taylor and other brands like them (some of those mentioned in the article, most likely) have trained their customers to shop based on price and incentives. Period. Sure, the clothes fit...but seriously - 30% off on a regular basis?
Action Item: So, what have you trained your customers to do? Expect things on sale, expect things you don't like doing? This is a great opportunity (and I'm doing this too) to look at your customer base from the perspective of lifetime value, and re-segment them based on 'those who should be with you in the future' and 'those who aren't going to be with you in the future'.
- Profitability for Bazaarvoice! (our company). I'm proud to announce that our company, Bazaarvoice, has achieved profitability! See our release below. I wanted to share this with my personal blog audience because part of this achievement is practicing many principles and suggestions I’ve shared over the years here. I've even been called a Cheap Ass Marketer to help achieve this goal….but I take this as a compliment because it's really about hitting the marketing bulls-eye! At the highest level, this achievement underscores the fundamental steps to build a startup that are sometimes forgotten in heady times: Find a need or a problem in a large enough market that needs to be solved Provide product or service of value to customer to solve that problem Keep costs low without sacrificing customer experience Continue to supply value to client (customer satisfaction), at a cost less than price, and profitability will occur I like to all this “A Business! Prior to Bazaarvoice and Dell, I've been through 3 startups in the frothy late 90's in the Bay Area / Silicon Valley. While my first startup was profitable early on (largely due to Apple's help), the other two were built on what I like to call Venture Charity. Here’s how those organizations work… Build something cool that may have value to someone Search for someone willing to pay for that value Keep searching. If still not found, try creating something else until money runs out. 9 times out of 10 -- notwithstanding the rare ebay/google -- money runs out We're...
(05/01/07 09:01 PM)
