20 Ideas Worth Stealing
Credit Where Credit's Due
Talking about providing additional value to customers is one thing; delivering solutions that show empathy to shoppers — especially in tough financial times – is something else entirely.
Late last year, Sears began offering its credit cardholders free access to their credit scores on a 24/7 basis. The card comes with a new “credit score simulator tool” to educate consumers on how credit scores are calculated and how they can take steps to raise their credit scores. At the same time, Sears announced plans to provide special deals and discounts to cardholders, along with deferred interest financing offers.
Tweaking credit card programs is just one way Sears is trying to ease shoppers’ financial woes. The retailer turned up the lights on its layaway program and created a Christmas Club Card that adds a 3 percent bonus to the money shoppers deposited in the account by mid-November.
Tweet Success
Can a retailer profit from the use of Twitter? Ask Dell and Kogi BBQ.
In June, the PC maker announced that it had raked in more than $3 million from Twitter followers who made purchases at its websites after clicking through links embedded in its “tweets.”
Dell was an early adopter of Twitter; the company began using it more than two years ago and tracks sales using proprietary software.
Kogi BBQ has built a cult-like following thanks in large part to its use of Twitter. The Los Angeles-based company, which sells Korean BBQ, tacos and tortillas via a roving truck, takes the concept of mobile marketing quite literally.
With no bricks-and-mortar location – or a website, for that matter — the founders tapped into the brand-building power of Twitter. It used it to alert potential customers as to where it had set up shop for the day; early on, followers were rewarded with free food in exchange for “tweeting” about their experiences.
In a matter of weeks, Kogi BBQ was finding lines lasting as long as two hours. The Twitter conversations continue, with Kogi sharing specials and menu changes with its followers.
Putting the Gas in Gastronomy
Kogi BBQ has quickly become a legend in the food-service industry, but food trucks are rolling out different types of fare in major cities across the country. They are an ideal vehicle for entrepreneurs who don’t have the capital to invest in all the trappings of a bricks-and-mortar restaurant, but have the culinary and social-networking skills to make a living selling meals on wheels.
Other noteworthy players are Sky’s Gourmet Tacos in Los Angeles; Jay Jay’s Good Food Truck in Franklin, Tenn.; and New York City can choose from the Treats Truck, Endless Summer Tacos, Wafels & Dinges, CupcakeStop and Cravings.
Rolling along the streets of the nation’s capital is the latest iteration of the food truck. Described as a cross between a natural market, a quick-serve restaurant and a vending cart, On The Fly’s smartkarts offer hot and cold fare around a central culinary theme, often in partnership with a local restaurant. Healthy pre-packaged sandwiches, soups, salads and more are created in On The Fly’s kitchen; snacks and beverages are chemical-free and sourced locally whenever possible.
Channel Shifting
Build-A-Bear understands the value of seamless interaction between its stores and the web — specifically its buildabearville.com virtual world.
Since the site’s launch, the critters’ birth certificates carry a special code. As soon as a child returns home she can log into the website, enter the special code and watch the toy she created in-store spring to life online. The toy appears in a backpack carried by the child’s avatar.
Buildabearville.com has more than eight million registered avatars and averages between one million and two million unique visitors monthly.
Smart Assist: A Bright Idea
The economy seems to be showing signs of improvement, but unemployment remains a very real concern for millions of Americans. Kmart recently announced the Smart Assist Savings Card, which gives unemployed customers a 20 percent discount on more than 1,500 private label grocery and drug store staples for up to six months.
The plan, which debuted in Michigan last summer, is a welcome relief for many and a gesture of goodwill that will linger long after the six months are up.
Verifiably unemployed citizens can register at Kmart’s website to receive a non-transferable Kmart Smart Assist Savings Card valid for up to six months. Although Kmart in-store associates are available to answer questions about the program, registration is a private, online process.
Prime the Sales Pump
It seems Amazon.com has a bottomless bag of tricks when it comes to figuring out how to lure shoppers and turn them into loyal customers. A terrific example of that prowess is Amazon Prime. For an annual fee of $79, Amazon shoppers are assured free, two-day shipping on more than one million in-stock items, and can upgrade to overnight delivery for $3.99 per item.
One of the greatest inhibitors to consumers clicking the “buy” button is the line on the invoice that details shipping fees. This program takes concerns about shipping charges off the table and lifts impulse buys that are often abandoned once shoppers factor in the cost of delivery.
