What a great Pub Talk! If you haven’t had the pleasure of listening to Kevin Hillstrom, you’re in for a treat. If you are already familiar with Kevin and his Mine That Data blog, sit back and enjoy, this is well worth your time.
The Funny changing world of catalogs
Using his remarkable career with companies like Lands’ End, Eddie Bauer and Nordstroms, Kevin starts off with a cartoon strewn review of the major shifts in the industry, from the heyday of catalogs through the advent of the internet, co-ops and the demographic disconnect we are seeing today.
When marketers look at E-commerce versus catalogs they sometimes miss the inherent differences that shape the selling space and customers for each channel. Kevin presents the different paths each takes and the different outcomes that result from the different paths. It’s an eye opener.
Trend #1 = Merchandise Productivity
Merchandising forensics have taught Kevin that the number one threat to catalogers is the decline of merchandise productivity. He explains both the short term results and the longterm impact of reduced merchandise productivity and offers a fun way for merchants, marketers and creative to compete together in a tournament of success.
Trend #2 = How will We Acquire a New Customer in 2020?
Did you know that Buzzed is getting 37% of it’s traffic through Facebook? Snapchat is another 21%. That is an enormous shift from 10 or even 5 years ago. With such an ever-changing landscape of customer focus how can merchants stay relevant? Kevin offers his view into the future and lays out several ways to look at which direction different companies should be heading.
Trend #3 = How will We Avoid Paying Tolls?
Tolls, (aka expenses) are killing catalogs. How can you reduce those tolls? First you have to know where they are and what they cost. The smartest companies identify low-cost customer acquisition programs that bypass the toll collecting process. Kevin offers some benchmarking to see if you’re paying too much and shows how understanding your customer can show you where to focus your toll reducing efforts. He offers ten tips to help you bypass some of those costs.
This is one of our favorite Pub Talks so far. Let us know what you think and if you have any questions for Kevin he’d love to hear from you as well.