What's Your Philosophy?

July 31, 2012  by in UnCategorized   

By Home Furnishings Business in on August 2012

As I began to gather my thoughts about this column, my mind was racing in different directions on where to begin. Do I discuss how the marketing world has changed? How in the past, marketing consisted of mostly print, television and the Real Yellow Pages?

Maybe I discuss how the Internet and things like YouTube, Hulu and Facebook have changed the landscape of how we deliver our message to our customers. For sure this would be an excellent direction, but I just can€™t help but think­€”you need to have a clear understanding of your message before you can even begin to think about telling your customer.

Case in point: Early this year, JC Penney announced its €œfair and square€ pricing strategy. Gone are the days of sales, early bird specials and coupons. The consumer will receive the best price every day, no more concerns that a big sale is just around the corner. Same price today or next week, €œfair and square€, this is a good thing, right? Well maybe not for JCP. The retailer just announced in June that it will now bring back the weekly and monthly promotions, but the discounts will not be as steep as they have been in the past. It seems the company has now concluded that the customer likes the word €œsale€.

While I feel the word €œsale€ can stop most people in their tracks, I do believe a €œno sale€ strategy can be a success. I like doing business that way. Give me your best offer, fair and square. I€™m not opposed to you making a profit; just don€™t try and make it all from me. What the consumer needs to believe is that your product has value to them at this price. JCP flip-flopping now has the consumer questioning the value proposition. This will have to be repaired before the no-sale strategy will have the opportunity to succeed.

The next step in a no-sale strategy is to get your team on board with this philosophy. Let them tell the story; this is the exciting stuff! No sales gimmicks, no sleight of hand needed. Just straightforward, honest, respectful and offering a solid value. These are the qualities most would look for from a company or brand when deciding to make a purchase. This is not something that is created overnight. It has to become your corporate philosophy.
With a clear understanding of your company message, employees on board and feeling good about the new philosophy, now is the time to advertise it! Take your story and philosophy to your customers.
The no-sale approach can be successful, but not overnight. It€™s not a marketing campaign; it€™s a change in your entire company. Tell your customers via all channels€”direct mail, print, TV, company Web site, Facebook, YouTube€”you just need to define your target audience and make sure it sees your message. In today€™s busy world you need to have a bit of each to grab attention.
In the pages that follow, we have put together information gathered from our retailer friends and some industry experts. Maybe you will see a fresh new idea or an idea that has been successful from a retailer in another part of the country. What€™s important is we are sharing ideas to keep the creative juices flowing€”thanks for joining our discussions!