Retail Observer

RETAILOBSERVER.COM DECEMBER 2014 54 O ur consumers gather information today in a way that is completely different than it was even five years ago. Today, less than 37% of the public receives a newspaper delivery at home. This is down from 54% as recently as 2000 and dropped from a high of 124% in the '50s. It's a new digital world, where advertising spends on Google has far surpassed that of traditional newspapers. With these changes, come many challenges for independent retailers. We need to become digital marketers seemingly overnight. The days of "yellow page" advertising has evolved into "web page" advertising. This change in consumer behavior leads to huge opportunities for appliance retailers. The use of digital advertising is cost effective and can reach scores of consumers in the click of a mouse. The challenge is where to put your resources. Let's look at a few of the best ways to extend your reach via paid media. • Web Banners—studies show that this is the most frequented section of your website. In fact, consumers will scroll through your banners to see what you have next. So the fear that you need the hottest items and deals first to capture their attention isn't founded. With that said, time should be spent here to ensure that you are delivering your message the right way. You should mix in hard hitting, "call to action" events with some softer, more thematic content. Consider it telling the story of your store in picture book form. This is your opportunity to set yourself apart from your competition. This book is a book that our consumers are eager to read. • Landing Pages—Each web banner should have a linked landing page that brings the consumer to a more descriptive page of your promotion or "story". These landing pages do not need to be "transactional" they can simply be reference pages that inform consumers of your offer and value as a retailer. • Email Marketing—Focused and directed advertising straight to consumer via email. Although this channel is effective, history shows that this is challenging to manage on a case-by-case basis. • Retargeting—Online, targeted advertising that delivers messaging and advertising to consumers based specifically on their prior Internet actions or searches. • Social Postings—these postings help businesses generate new customer contacts and stay in contact with those that already exist. Facebook's own site claims, "Most online advertising reaches only 38% of its intended audience, while Facebook's reach averages 89%." Whether you are a techno savvy principal/owner or a newbie to the world of digital media, it is imperative that you learn as much as you can about this medium. This new generation of consumers is utilizing these unique venues to gather their information when they are in the market. They will be in the market for shorter periods of time and it is important to have your store's brand in that consideration set. The market is changing. Historically strong national retailers are losing market share. Consumer confidence is coming back and we are on the cusp of the largest replacement cycle in the history of our industry. It is imperative that when these consumers enter the market, our stores are top of mind. We spend enormous amounts of time, money and effort setting our floors and merchandising our stores; let's make sure our consumers know our story. You can catch more fish with a net than you can with a lure. The market is changing and the consumers are coming, let's cast a net of digital awareness to capture these new customers. RO Patrick Maloney Appliance Trends LET'S GET DIGITAL Patrick Maloney is the Vice President of Appliances for Nationwide Marketing Group, a leading buying and market- ing organization for independent retailers. To learn more about new ways to grow your appliance business or the many benefits of joining Nationwide Marketing Group, go to www.nationwidemarketinggroup.org.

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