Thursday, January 27, 2011

Creating Shopper Value

Enter 2011 and everywhere I go as a shopper, ‘value’ continues to be a promise I’m surrounded with.

And with this overriding observation comes the cold, hard reality that there’s often a gaping difference between what I’m promised and what I get.

Put plainly, it sucks.

Why? Because I end up feeling devalued, duped and disappointed.

In an era defined by choice, channel, connectedness and community it’s a 101 imperative that brand experiences live up to expectation (and then exceed them).

Last year I suggested a redefinition of value from lowest price to best experience.

I’d like to add an additional thought.

And that is, we need to ensure we’re helping shoppers feel genuinely valued.

I don’t want to get into a long spiel about “loyalty” but suffice to say that valuing shoppers needs to become a far more personal affair. As we move from mass market to mass niche it’s the brands that engage us as friends & allies that will win the day.

Take Moose Jaw for example.

Based in the US, Moose Jaw is everything that their competitors aren't. Which is, I hear you say, arguably why they’re so successful. Take their opening description:

At Moosejaw we want to make shopping as much fun as backpacking the Chilkoot trail, climbing in Yosemite, mountaineering in the Himalayas or playing red rover with the neighbors who you don’t like that much but they’re always ready to play any game in the cul-de-sac so you make do.

Hardly a brand you could say no to, right?

This is a brand that lives and breathes the language & lifestyle of their shoppers, interacting with them across multiple touchpoints. Further to this, they live their values and make the shopping experience personal, fun & rewarding in unexpected ways. Take their ‘guarantee’ for example (or should I say “Living Will” ) as another quirky example.

Five thoughts toward creating new shopper value in 2011:
  1. Reward shoppers for interacting with your retail brand- not just buying from it.
  2. Offer an exchange of value at every touch point through seamless online/ offline integration
  3. Stand for something great - create value by having values that are seen, heard and felt
  4. Surprise and delight in personal, unexpected ways to strengthen differentiation, relevance and loyalty.
  5. Get 'brand mobile' to enable your shoppers to engage and buy from you wherever, whenever.