» 4 Ways Store Intelligence Helps Retailers Save Time and Money
According to a 2016 POPAI study, store compliance is merely 40 percent on average, meaning more than half of the display materials retailers produce goes to waste. Seventeen percent of the stores included in the survey displayed POP that was considered “drastically different than planned.” Oftentimes, the wrong-sized materials are sent to the store. Surprisingly, 42 percent of stores didn’t even attempt to meet compliance requirements.
Bringing a cohesive, accurate marketing strategy to life doesn’t have to be time-consuming and costly. By tapping into store intelligence technology, today’s retailers can access real-time, store-specific insights and accurate data that can automate the daunting tasks needed to create successful in-store marketing projects while saving time and money.
Here are four ways to leverage the value of store intelligence at every stage of an in-store marketing campaign:
- Accurate Planning Means No Overage. By starting with good data, there’s no need to build in overage. However, that requires knowing exactly what each store needs. For example, some locations have ordinances preventing certain sign types. Sending team members to manually gather store information and specs from every location could take months and lead to errors. Why waste money printing an abundance of signs, knowing some will never be used? With a store intelligence solution, a quick and easy electronic survey can be sent to each store resulting in same-day details on every location. It’s the fastest way to learn exactly what each store needs, saving time and labor costs. And, once the rollout has been planned, all the information can be stored securely for future use. Store intelligence platforms can even manage quantities freeing up even more time.
- Speed Up Approvals. Getting everyone’s buy-in to obtain the best results means getting key decision-makers across the company on board and asking for their approval at different stages. A Digital Asset Management platform simplifies this complicated task and streamlines the approval process by moving it online. By automating and coordinating design and spend approvals, you’re now given a detailed visual allowing you to view progress and track changes. A store intelligence solution conveniently houses project history in one central location and helps manage all digital assets associated with the project.
- Speak Store Specifically. By using a site-specific intelligence platform, retailers can leverage store profile data to create store-specific marketing guides. These easy-to-follow guides help save time, improve compliance and eliminate confusion by giving store managers the exact information needed to accurately execute store promotions. Marketing guides can even include vendor-supplied collateral, giving managers a detailed look at what to expect and plan for regarding upcoming promotions.
- Execution Is Seamless. A cloud-based store intelligence platform can enable field teams to monitor rollout progress as it happens and access project information even while they’re out visiting stores. Whether using an installation team or store staff members to complete execution, field teams can directly communicate and gain visibility into what’s going on. Team members can upload photos onsite making it simple to immediately troubleshoot possible issues and ensure compliance.
To find out how your retail marketing team can use store intelligence to help optimize planning and achieve flawless execution, visit AccuStore.com.