May 04, 2017

Closing Stores - Digital Marketers Play A Crucial Role, Don't They?

Ok, you've been through the routine now, you've seen how I approach the topic. The overall theme of the week is outlined in this presentation.



Now, why do you think that Digital Marketers play a crucial role in store closures?

The answer is obvious, isn't it?

I showed you how customers behaved after a store is closed ... and then we simulated the behavior out five years. The most important part of a store closure is getting online support from the Digital Marketing Team. We "have" to move customers away from memory of the store and keep 'em purchasing, or all is lost, right?

The best retailers have a "transition team" of digital marketers who partner with brand marketers to develop a strategy to save customers who are being abandoned by the closed store. Via email marketing a clear communication strategy is developed. If you crave discounts and promotions, then you give these customers the 30% off plus free shipping offer you've been just itching to offer somebody. You leverage your CRM system to communicate with these customers. And your digital team blows out social to tell a story about why online convenience is important, right?

And then you give your digital marketing team spot bonuses for beating the sales forecast for the trade area of the closed store, right?

I know, I know, there's a bunch of catalog marketers out here who are saying, "What About Us?"  Well, you were already sending your catalogs out prior to closing the store, right? Did you do anything different, anything innovative? If the answer is yes, then hop on board, I'm ready to reward you! If not? Sorry, no dice.

You have specific trade-area plans for each market, right?

Right?

If you need help forecasting trade areas to determine if stores should be closed, give me a holler (kevinh@minethatdata.com) ... I'm here and am ready to help!!