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Nov
29
Goin’ Mobile
Filed Under Interbike, Online Marketing | Leave a Comment
This post is an expanded version of a column appearing in the December, 2011, issue of Bicycle Retailer and Industry News. The blog version includes extra information and media that don’t fit in a printed article.
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The most important and impactful innovation to come down the lane, recently, for retailers has been the phenomenal growth of mobile. Smartphones and other connected devices that consumers can carry in their pocket have changed the shopping experience. For those of you keeping score at home, 38% of all Americans now own smartphones, according to current Nielsen stats, while a full 62% of those in the 25-34 age range do.
I’m sure most of you retailers have experienced customers in your store holding a product in one hand and an iPhone in the other. Perhaps you’ve even seen them scan the bar code on a product with the Red Laser app and effortlessly pull up a wealth of online information. While it’s tempting to get riled up over the thought of your customers comparing prices online, I hope you can come to terms with the fact that there are few mysteries in shopping anymore – and that you can influence what they find online.
As a consumer, I’m an information hound. I want to know anything and everything about a product before I drop my hard earned bike industry dollars on something. Price is important, but as a recent Nielsen survey of digitally connected consumers found, “good value for the money” (61%) beat out “low price” (58%) as the top reason for their choosing a particular place to shop. While you can’t discount (excuse the pun) the role of deals and other financial incentives as a driver of new business, it’s not the only thing consumers are interested in.
(What influences your decision to shop at a particular retailer? – Click to enlarge)
For IBDs this is good news since the experience at your store is about so much more than just price and you have the ability to affect the value proposition with service, education, and your passion for cycling. Just make sure that you communicate this value to your customers where they expect to find it: online. Look at your own – or better yet, your kids’ – shopping habits for examples of where you need to be with your message.
There are new ways to influence your local customers with “hyperlocal” advertising: Google recently announced that the distance between a person and an advertiser’s business location is now a factor in mobile search ads ranking. Think about it. That’s a really powerful new tool for your business to be able to direct your customers to your store.
At Interbike, we understand the power of face-to-face interaction, but the continuing growth and influence of online and mobile can’t be ignored. Social media and peer reviews online have influenced consumer behavior for years, but mobile puts that influence onto your showroom floor. You’re not done influencing your customer before he leaves his house anymore, and mobile can become an ally if you take steps to make it work for you.
Here’s a great recent infographic, also from our colleagues in the Nielsen family, on the mobile digital consumer to illustrate the current reach and influence of mobile.
(Click to enlarge)
I’d love hear how retailers are using these tools to grow their businesses.
Nov
18
Google Streetview Heads Indoors
Filed Under Attendee News, Online Marketing | 3 Comments
Not sure how I missed this news from around Halloween. Maybe I was too focused on dialing in my son”s Ninja Turtle costume to his hyper attentive 6-year-old standards (“Dad! Michaelangelo is the orange turtle. That’s red!”). So what did I miss? Well, it looks like the controversial Google Streetview feature of Google Maps has now headed indoors.
Now, just as you can navigate up and down streets and pan around to see store fronts and unsuspecting pedestrians and sunbathers, you can wander through the insides of stores. You get the whole 360 degree, up-down and all around treatment. I just happened to be Googling one of my favorite local shops yesterday when some photos popped up in the Google Places area of the results. Upon clicking them, I noticed that I could wander through Pacific Coast Cycles’ crowded, but neat, showroom.
I spoke with PCC’s owner Chuck about this, and he said a Google person came by and took pictures not too long ago. I actually remember a few years back being in the store when a Google staffer came by to collect info about his business for Google Places. Here’s Google’s FAQ about the program.
I did a few quick searches for other shops that might have interior views with no luck. I’d love to feature some shops in this way – have any of your local shops had their insides filmed by Google? Any of you shops out there been invited to participate? Let me know. And keep your showrooms neat!
Update: Palo Alto Bicycles has been shot for Street View interiors.
Nov
17
Nielsen: Discounts Drive Brand Love on Social Media
Filed Under Attendee News, Online Marketing | 1 Comment
From our colleagues in the NM Incite division of Nielsen, who work with companies to measure and optimize their online brands (officially: “helps businesses harness the full potential of social media intelligence to drive superior business performance across their organizations.”), comes this report about the most important driver of brand loyalty in the social media world.
There’s been much discussion in the marketing world recently about what motivates consumers to “friend” or “like” brands on sites like Facebook and Twitter. Typically used as a way to stay in touch with, share and communicate with friends, what are we looking for in return for friending a brand? We don’t usually opt-in to receive advertising and branding messages in other media – unless there is an incentive. Think free weekend at the resort in return for sitting in on a presentation about purchasing a time share at the property.
And while it’s all good that we – as brand managers – have been able to use SM to personalize our companies and interact with fans and customers in a more direct, human way, this study shows that, at the end of the day, discounts and deals are still a powerful driver. Other reasons, such as “showing support for the brand” and “be among the first to get news and information” are still significant, but are overshadowed by the almighty discount. Just look at the success of deal/coupon sites like Groupon and Living Social. In the bike and outdoor specific industry, we’ve seen the emergence of companies like The Clymb.
It’s interesting that in North America, this economic incentive is noticeably more powerful than in the rest of the world.
Do you offer deals or discounts to people who like or follow your brand online?
Here’s the chart from the report:
Nov
10
The Product Preview and Introduction Cycle – Make it Work for Your Business
Filed Under BRAIN Column | Comments Off
The bicycle product preview process for suppliers and retailers used to be so simple: both would attend Interbike, new product would be presented, and orders would be written. Case closed. For a growing number of companies, that process now starts in April at the Sea Otter Classic. Suppliers have press events or leak information to the press and tease consumers with new innovations, and then shift gears into their private events in July and August. While this presents some challenges on both sides of the equation (not to mention tradeshow producers), I think it can also benefit both groups in some important ways. Let me explain.
We’ve heard from many retailers over the past few weeks that the show was more productive this year because they were able to finalize their 2012 product purchasing plans. They told us they began seeing product before Interbike, reviewed that information with their staff back home, considered options, and then finalized orders at the show after seeing the whole marketplace. This model makes sense to me. It allows the smart retailer to digest the various presentations, get support from staff, compare products to the competition, and then present orders at Interbike after a final review. It takes away the pressurized guessing game of pre-season and on-the-spot ordering and puts control back in their hands. In theory, as dealers see product earlier in the sales cycle they are better able to manage their inventories, provide smoother transitions for model year changeovers, increase margins, and further enhance vendor relations with key suppliers.
On the supply side, we received tremendous feedback that their sales teams had written more orders or collected more business than at any show over the past 10 years. Why? I believe that it goes back to the way retailers are thinking and acting. Independent bicycle retailers need to have time to absorb product information, compare it to what else is out there, and prepare their own analysis before submitting the order. Placing orders at private dealer events forces dealers to commit to orders with that supplier in a vacuum, without having seen the entire competitive landscape and any new trends. Allowing this slightly longer, but more-informed process to happen will net suppliers better, more well-thought-out orders that better reflect what will happen at retail. Ultimately, isn’t that what everybody wants? As time goes on and retailers learn about product prior to the show, it will actually reinforce Interbike’s vital role as the right place to finalize product decisions and place more intelligent orders.
The industry has evolved. Now armed with some early product knowledge, dealers are exposed to the full marketplace, competitive offerings and trends in one place: Interbike. They can make educated final decisions, meet with suppliers and place orders on their own terms. Orders and commitments become real at Interbike.
Thanks for supporting this year’s show and we look forward to seeing you at an even bigger event next year!
Nov
7
SRAM pART PROJECT Auction
Filed Under Events, Exhibitor News, Industry News | Comments Off
If you were lucky enough to be at Interbike this year, you probably came across the SRAM pART PROJECT displays in a few places while walking the show floor. Now you have a chance to own one for yourself.
SRAM commissioned 50 artists to create these amazing works of art out of the contents of a box of 100 parts from the SRAM family of brands. The 50 sculptures were displayed at Interbike in individual cases mounted on pedestals in two big displays on the street level lining the main aisle and in a space at the very front right corner of the upper level. A smaller group was set up in SRAM’s own booth.
The goal of the project is to raise funds for World Bicycle Relief at an auction of the pieces to be held in Chicago later this month following the exhibition in Las Vegas. Here are a three examples from the project. To see the invitation for the auction from SRAM, scroll down past these examples of the sculptures. Follow the link below to the project’s website to see all of the pieces in higher resolution and learn more about the artists.
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JOIN US:
SRAM President Stanley R. Day and World Bicycle Relief Founder F.K. Day cordially invite you to join us for the grand finale of the SRAM pART PROJECT: A gala pART PROJECT exhibition and auction at Chicago’s Gallery 1028.
You’ll join leading figures in the cycling world in viewing the artwork, meeting the artists, and bidding on favorite pieces. You’ll also enjoy food, drink, and live entertainment. Best of all, simply by attending you’ll be directly supporting the mission of World Bicycle Relief.
Your $134 admission fee is the cost for World Bicycle Relief to donate one bicycle.
DATE: Wednesday, November 30
TIME: 6:00 pm CST
LOCATION: Gallery 1028 1028 North Hooker | Chicago, IL 60642
TICKETS: $134 (the cost for World Bicycle Relief to donate one bicycle)
Visit www.sram.com/partproject and click on Event for more information.
Gallery 1028 in Chicago where the auction will be held:
