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Retail Therapy- Women’s online shopping habits

July28

According a study by AOL on Women’s online shopping habits – women control over $4.3 trillion, roughly 73 percent of US household spending. No surprise that many of these women squeeze 27 hours of activities into the standard 24-hour day. This is a fabulous study to put a number of your marketing programs into perspective. Download the study here. We have also recently taken a look at retailers catering for women and their families.

We already knew this right now? But there are some staggering figures below.

Women love to share their product and brand opinions, as we saw on the fierce competitiveness on the Australian Target blogging mums page on Kidspot recently.

40 % percent say they spend equal time shopping online and offline.

Clothing is the number one purchase choice for women online, with books and movies in second place.

60 % of women respond to email offers, making it the most influential driver of purchases.

The most popular day for shopping was Friday, so you know when to get your promo’s out!

Seven out of ten women sign up for retailers’ email alerts.

The study did label women complicated shoppers, which is irrelevant and unfounded. But the results are simple – just give them what they won’t, in the easiest most convenient time possible!

posted under Target Market, Tricks & Tips, Women Consumers | 3 Comments »

Nurture Your Niche

July19

image via flickr by aussiegall

Despite all the talk about having a niche, many businesses still operate without one. Your must have something that sets you apart from anyone else either in product, distribution or promotion at all times. Doing this type of regular activity, protects your business from competing on price.

Now do not over think this. It does not have to be a new invention. It can simply be a new feature added to one of your current offerings. This is strategy to the core!

So below are three methods of uncovering your niche:

1. Call your top 6 clients.

They know what they want and need. Take detailed notes during the conversations and follow up on a least one idea that comes out in the conversation within a month. Keep the client involved in the progress too!

2. Do a ‘documented’ competitive analysis.

In a 3 column table, the headings should read ‘Unique Differences’ /’Risk Low -1 High -5′/ ‘Action’. List your competitors unique differences, the level of risk to your business and the actions you will take to combat them. Do a separate table for each client and review for possible feature combinations and brainstorm.

3. Compare against leaders in other industries.

If you are an IT company compare your product offering to a business in the restaurant industry or any category killer for that matter. It sounds odd, but list out all of your product or services for both you and them next to each other. You will be surprised how quickly a new offering idea can come to you and how creatively satisfying this can be.

Do this every quarter or half year and also pop it in your business plan.

If this is the first time you have done this, it will be a much needed reality check. I get to do this for clients all the time and it is quite scary how long they operate without a niche and wonder why is always comes down to price.

It is also advisable to have somebody outside of your business do this on your behalf and provide a report back to you. Business ‘owners’ and ‘founders’ in particular make ill judgements about the products or services and they never know that they are doing it

posted under Business Growth, Business Niche, Business Strategy, Tricks & Tips | No Comments »

Marketing for a Cause

July5

So in line with my recent Meet a Tweet a Week post, I caught up with Philip Brookes (@philipb4), Founder and Director of Aktiv, a marketing consulting firm that specialises in marketing for charity organisations.

On the eve of his 7th trip to the Philippines, I quickly discovered his passion for changing the world through responsible commercial enterprise in developing countries. “I want to see more successful joint ventures between charities and business partnerships”.

So was there any advice for charities? “Look at marketing as more than just advertising – how they shape their programs, and looking for creative new models of helping communities – particularly financial self-sustainability”.

Philip began specialising in non for profits when he read a very impactful piece in Time Magazine. “Statistics and numbers on the degree of poverty have very little impact in calling a person to action on an issue. What changes this is hearing the personal stories of people in need”. So what is the one more tip Philip would charities to take away – “Focus on finding your distinction (some call that a Niche) and powerfully communicate it in a manner that stirs hearts (emotions) amongst your unique audience”.

Philip will be sharing the latest pictures, video and stories from this trip on his blog.

posted under Meet a Tweet a Week, Tricks & Tips | No Comments »