Creativity and Innovation to get the edge

In these uncertain times, many of us are looking at our businesses and wondering – where to from here? Everyone seems to function slower, in wait of a clear direction. Marketing budgets are down or blocked. Just cut back on everything and try to weather the storm is the mantra of many.

Few are those who are going to see the glass half full. Yet, times like these are an opportunity. And this is how it should be seized:

What is the role of Marketing in an organization?

Depending on the type of business product or service, marketing will be involved at different levels, but if its role were to be summarized in one sentence, I would say that marketing is here to add value to the business proposition.

And what drives Value in the market?

In a word, Uniqueness. I would define this as the sum of tangible benefits and points of difference that make your product or service a better fit for your target market, and trigger consumption / purchase and re-purchase.

So I propose that the role of Marketing is to create and sustain that “Uniqueness”.

I recently ran a survey on Linkedin asking what one should expect of their marketing team in times of recession. The answers I received were showed the mood of the times – ‘make greater direct impact on sales’ was highest on the wish list. While this is an undoubtedly practical expectation, how do we deliver it?

I think the more visionary amongst the respondents had the right answer when they chose ‘more creativity than ever’ and ‘outside the box innovation’ – as these are the most effective tools for delivering to expectations. I certainly empathize that in the midst of today’s reality it is challenging to maintain a focused strategic vision. Nevertheless, we need to act now in ways that will ensure we come out fighting fit when this climate ends. Times of recessions are a strategic opportunity for those who can avoid myopia – they are a time to leave the competition behind. Let’s not forget that in growth mode everyone finds something to survive on, and gaining the edge is harder.

Encouraging creativity and innovation is what everyone should do. R&D is not only for product development. Creativity and Innovation need fostering at all levels of a business. New ways to reach consumers, innovative promotions, smarter trade tools, sharper communications, and better market insights. We need to get businesses in fighting order if they want to preserve their market share and push the weakest out of the market.

So by all means review your marketing investments, challenge their efficiency, that but don’t stop all activities or you will suffer deeply from the loss of momentum and will lose Brand equity.

Take this opportunity to explore new avenues of reaching out to your consumers. Drive innovation within your teams. You just have to open the tap and facilitate participation and individual initiatives. You will probably find out that everyone in your business has his own idea on how things could be done better and cheaper.

Good Luck.

Building successful Retail displays – Making heroes

Most businesses who are thinking of creating retail displays for their products are focused on brand image and communicating product features & characteristics.

But a Retail display strategy is not only about demonstrating your hero products, it is about making retailers your hero. It is about making them true ambassadors of your products because you cannot physically be behind them 100% of the time. Because of that your displays must ENABLE not DETRACT.

Here are from my experience the key success factors to consider in building your retail display strategy:

• Remember retailers own the space, even if you end up paying a subsidy, space in retail is scarce. Optimize the space – think product storage & additional shelf space not just product demo. ROI is king - think Turnover / m2 used. At the end of the day aren’t you in it for the same reasons = to sell more products.
  
• Try to make retailers life easier = address their concerns – How to sell your products / and how to sell more of it. Your display is a silent sales man. It can also become an education tool to the sales people in the store and show them how to sell your product.
  
• Think modular / changeable / mobile. Remember nobody wants a piece of decor forever. Stores are an ever changing environment, refreshing the layout is always good. If your display is getting in the way of the retailer’s operations it will end up in the bin or at the back. This should force you to think about telling a story, and come up with regular upgrades and refreshes.
• Think location, make sure you grab appropriate locations (beware of shelf contagion issues – they may be products you do not want to be next to). Think foot traffic and circulation within the store. Think visibility (and try not to obstruct visibility – retailers can be very itchy about line of sight).
  
• Adopt the snowball strategy. Setup trial locations, and use the results to sell the setup to others. Retailers can be very jealous of each others, it can block you but it can also work in your favour. Prove your worth first and replicate. Also if you do not get the best location right away, you can still re-adjust and improve your next sites. Get accepted first.
  
• And finally do not think your work stops once you have setup your display locations. It does not... keeping them clean, tidy and up to date is critical... making sure the material is aging properly against the day to day grind. Nothing worse than a broken or half working display. Make sure you have the resources to re-visit and maintain your displays on a regular basis.
  

Good luck.