What’s your market position? How do you differentiate yourself from your competitors, increase customer value and influence consumer perception of your brand?
Retailers have many hard choices when it comes to determining promotion, price, place and product, and a revenue model is essential in that decision-making process. ‘Front office’ decisions include sales channels (online, offline), sales outlets (branches, franchises, shop-in-shops, wholesale trade) and locations (local, regional, national or international). ‘Back office’ and financial decisions include ways to generate traffic, increase conversion rates and purchase amounts, and improve margins and volumes.
All these choices are based on a good understanding of your opportunities from a customer perspective. Delivering the right product range, service level and market presentation within a distinctive format will lead to the right earning model.
Positioning requires in-depth knowledge of your target group and competition, the size of your market and potential market share, and your current performance level. We’ll help you develop a revenue model that gives you all this information, including financial aspects so you assess your returns. By including current performance levels in the framework, we’ll be able to identify improvements areas. Our aim is not only to build an earning model but also to translate the information into a concrete action plan for the various parts of your organisation.
Go back to basics: who are your target groups? What are the characteristics of these target groups? What brand image do you want your audience to perceive, which values are you incorporating into the brand, and what do those values mean for your marketing formula?
Once you’ve made your brand choices, you need to communicate the brand perception not only externally but also internally. Employees throughout the organisation must be thoroughly educated in the company’s brand values, they must experience them and apply them in their day-to-day work.
Our retail professionals will take you and your organisation on the buying journey of your target group, helping you implement your brand and your formula.