Business Tip 21
Enhancing Shopper Insights Through a Collaborative Model

Collaboration is not a dirty word, if used correctly

It is no surprise that shoppers today are spending less time in the store and are frequenting retailers fewer times per month. Given the tumultuous times and the pervasiveness of technology, shoppers' behaviors and attitudes are transforming at a quickening pace and retailers and manufacturers are noticing. While shopper insights have always been a reliable measure in determining which promotions and marketing campaigns work, shopper emotions at the point of purchase are infinitely more complex than they appear on the surface. Data from multiple sources such as syndicated, point of sale, planogram and market research will only get you to a certain point. In order to fully understand the driving motivations behind shoppers' purchasing patterns, retailers and manufacturers must work together collaboratively to understand the complex and intricate shopper story at all levels including pre-store, in-store and post-store.

Collaboration always seems to be one of those ideas that sound good in theory but usually fails when put into practice. Much of the failure in collaboration lies in the communication, or lack thereof, between the parties involved. Here are some ideas that will increase the success of your collaborative efforts.

Know What You Are Talking About

Sounds simple enough, right? However, with so many different views of data coming in whether it is syndicated, point of sale, market research or even planogram data, manufacturers and retailers can become overwhelmed with data that is confusing, complex and contradictory. Keeping things simple, yet insightful, will win you points. Being knowledgeable means knowing things that your competition may not know which includes understanding not only your brand, but the category as a whole. If you can prove to your retailer that you know who their shoppers are, what they are looking for and what drives them to pick up a product and purchase it, they will look at you as a value added partner.

Come In Armed and Dangerous

Well, not in the action movie sense, but always come prepared. Knowing is half the battle. Most people today follow the "I'll believe it when I see it" mentality, therefore convincing them is the second half of the struggle. If you know what you are talking about, as conveyed in the first idea, the data should be there to support your suggestions. To convince retailers, manufacturers should come in equipped with arguments that are backed up and solidified by data. The more you can convey to your retailer that your suggestions and ideas will drive growth and profit for them and you can back up those assumptions with concrete evidence, the more successful you will be.

Make It Visual and Interactive

Maybe this sounds simple, but it is amazing what a polished and professional presentation can do to sway a retailer's mind. Retailers stare at numbers all the time so show them something different and unique by giviing them presentations that are not only visually appealing, but also interactive. Utilize interactive presentation tools such as Interactive Edge's XP3 Presentation Viewer which allows sales teams to interactively work with presentations in front of the retailer. Long gone are the days of saying "I'll get back to you with an answer on that." In fact, most retailers will not even accept that as an answer. With technology tools like XP3, sales forces can now actively drill down into business questions that make for better, more collaborative decision making.

Benefits of Collaborating Effectively

Even though collaboration seems like a giant headache at first given the fact that retailers and manufacturers need to work in partnership together to secure shopper sales, there are huge benefits to delivering an effective collaboration model. Brand equity for both manufacturers and the retailers will see significant ROI as will customer loyalty and retention. One of the great effects of collaboration is the feeling that shoppers experience in store. They begin to feel that someone is speaking directly to them and understands their individual needs. If shoppers' needs are satisfied in the store, they will always come back for more, and that's the point.