During a live speech at Furniture Today’s first ever virtual Bedding Conference, Mark Kinsley and Mark Quinn recorded a podcast and gave the audience two big takeaways for 2020.
1. You win in the transitions — and during transitions (like this one). When a customer steps out of their car and walks to the door of your store, that’s a transition. After a shopper selects their mattress, there’s a transition from that moment until they walk out the door with their receipt. In broader terms, there’s a massive transition taking place due to COVID and how retailers will adjust to new realities. Thoughtful businesses win in the transitions because that’s where there are opportunities for delight—or to address failures that can be fixed. Listen to the Jesse Cole episode for more flavor.
2. Media effect of stores. Doug Stephens introduced Dos Marcos to this idea this idea in his crystal ball podcast. When a brand places their products in a store, often the store acts more like a media outlet that introduces customers to the product. Customers may not buy from the store at that moment, but instead go online to complete the purchase. During the conference, Resident Home’s Bob Muenkel described how Nectar is partnering with like minded retailers and investing ad dollars in those markets. Nectar will likely see a boost in online sales in those markets, which speaks to the media effect. It’s important that retailers understand the media effect of having certain goods in their store and develop strategies to open a relationship with every person who walks through the door. Doorcounts is one way to ensure each footprint becomes a prospect instead of letting that person leave and go buy online from a competitor.
Thanks to Dave Perry and the team at Furniture Today for having Dos Marcos speak and for hosting a great conference.
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