How to Reduce Waste in Your Monthly Sign Kits
Retail pioneer John Wanamaker is credited with saying, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
In over 100 years of POP advertising, you could say not much has changed when it comes to overcoming this common retail challenge. In fact, it’s probably gotten harder to figure out when you consider the number of stores and different store sizes, as well as all of the mergers and acquisitions that have happened. No matter how much you try to streamline distributions of your monthly POP kit, each store is unique. Inevitably, you hear that the wrong material went to the wrong store. Sure, you can try to accommodate all possible variations with a 75+ page sales planner, but that only exacerbates the problem and makes it nearly impossible to execute. Maybe that’s why a study by the CMO Council’s Marketing Supply Chain Institute still says up to 50% of in-store marketing is wasted.
The answer to improving efficiency and eliminating overage lies in your ability to know exactly what each store needs. So, do you have enough information to go on? Do you trust it to be accurate? How current is that spreadsheet you’re using? The data you receive is only as good as the data you start with.
Each store is unique, and with so many to keep track of, retailers often guess at quantities. That’s why we always recommend a thorough store survey. It’s especially important after a merger or acquisition. This way, you start with a fresh set of data that has been expertly measured and curated into store profiles. From floor to ceiling, every store’s attributes – its square footage, number of windows, doors, asset inventory and equipment details, as well as pertinent municipal sign ordinances – are recorded. A survey provides everyone on the team with confidence that you’re working with accurate information. You can then use it to determine your precise, store-specific distribution needs for your marketing materials. (No more time spent researching every month.) You’ll also be able to save money by reducing unnecessary overage.