MANAGEMENT: Create bucket lists
Mark Stroud is a consultant at learning and development organisation AdaptisRead More
Expert: Kate Robertson
Background: Business development director of TTMV, a full service media, creative and digital agency
Today’s rollercoaster retail environment is old news. What’s new is the green shoots of growth emerging in 2013. And the fact that spending is gradually set to rise again over the next two years. But what does this mean for the 2013 big ticket homes consumer? And how should you be adapting your marketing and advertising to reach them?
Today’s consumer is a consummate deal hunter, and more likely to be researching and doing deals online. They expect offers, discounts and loyalty points to be a part of their shopping experience. Telling consumers they can spread the cost to make it easier to buy is also an attractive message. As is beating any quote or offering free white goods.
It’s also worth keeping in mind that consumers are looking at value in a much more 360 degree way, taking into account quality, function and personal preference as well as the price tag. Highlighting your excellent customer service is key in a discerning buyers’ market. And building a strong brand around their needs is more important than ever before.
So, to drive volume, it’s vital that your brand is first meaningful – resonating with your target audience – and then salient – jumping out into their face. Brands that are meaningful, different, and salient generate three times more volume from brand strength than availability or promotions. And they command a 14% higher price.
If you want to be one of those strong kitchen and bathroom brands, start by defining your target audience – who they are, where they are, what they want, how to reach them.
Once you’ve made those key decisions and put a strong advertising plan into action, you’ll be better equipped to ride that rollercoaster of today’s retail environment.