Ewr preso
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Lipic's met with Emerson White-Rodgers management to discuss wholesaler merchandising events, channel incentives, and social media marketing, and developed a proposal with recommendations for modular yet integrated programs focused on ensuring product visibility at key wholesaler accounts, developing performance metrics, and social media strategies. The proposal included budgets and plans for wholesaler merchandising events, a channel incentives program called "Changing the Channel", and recommendations for social media best practices.
Ewr preso
- 2. On July 1 Lipics met with Emerson White-Rodgers management and the following topics were discussed: 1. Wholesaler Merchandising Events 2. Channel Incentives 3. Social Media/Social Influence Marketing Based on this discussion, Lipics has developed the following proposal to address these three key opportunities. Our recommendations are designed as modular, yet fully-integrated programs.
- 4. As we understand, the following are critical success factors in support of EWRs FY 11 sales and marketing goals: Ensure product availability/visibility at 1,000 key accounts in the wholesale channel in FY 11. Development/implementation of a turnkey performance metrics/reporting system to monitor results and to make adjustments on an ongoing basis. Lipics has identified appropriate resources to merchandise these key accounts based on the following assumptions...
- 5. Timing: Clients Fiscal Year 2011 (September August) Locations: 1,000 Wholesale Outlets Product/ Merchandising Materials: For planning purposes, we have assumed that all required materials would be drop-shipped from Lipics Saint Louis headquarters to wholesaler locations in advance of in-store merchandising events. Event Production Schedule: As part of our merchandising effort, an Event Production Schedule will be created to keep wholesaler principals/staff and EWR management/sales force apprised of progress/logistics/special requirements/arrangements/etc. Reporting/ Proof-of- Performance: Lipics will develop/implement/maintain an Online Reporting Microsite to capture all relevant Wholesaler data/information from Merchandising Event Field Reps. The system will facilitate timely reports (i.e., wholesaler contact verification, time of visit, duration of visit, verbatim wholesaler comments/questions, digital photographic proof-of-performance, etc.) documenting the event.
- 6. Successful Wholesaler Merchandising Events are a critical success factor in the achievement of EWRs important business goals. Your Lipics team has a proven track record in executing events of this magnitude for many of Americas largest corporations. We are excited to begin work on this important project.
- 8. In our initial discussion, EWR requested recommendations on an incentive strategy to target each link in the sales channel: EWR Account/Sales Management Wholesaler Principal/Owner Branch Manager Counter/Sales Staff In addition, EWR voiced concern over ROI metrics and reporting procedures for current initiatives. Following are Lipics recommendations to address these challenges
- 9. Building on the Wholesaler Merchandising Events outlined in Opportunity One, we will introduce an incentive initiative entitled Changing the Channel This incentive will address EWRs important business objectives using fresh, relevant marketing tools in a manner that is consistent with EWRs corporate guidelines.
- 10. Overview Theme: Changing the Channel Objectives: Merchandising Establish/maintain a permanent presence of EWR product/marketing materials in 1,000 key Wholesaler locations, nationwide. Wiki Wisdom Develop an educated/engaged wholesale channel at all levels. Orders/Sales Increase EWR orders/sales in FY 11 by 20%+ over Y/A. Participants: Registered EWR Account/Sales Managers (10) Registered Wholesaler Principals (1000) Registered Wholesaler Branch Managers (1000) Registered Wholesaler Counter/Sales Staff (3000) Timing: FY 2011 (Sept/Aug) Products: Selected EWR Blue Touchscreen Thermostats
- 11. Establishing A Baseline/Source of Funding A national Wholesaler order/sales objective will be established for the Blue Touchscreen Thermostat line based on Y/A historical performance. Assumptions for discussion purposes: FY2010 national product orders/sales of $10MM. FY2011 Changing the Channel sales/marketing efforts will generate $12MM+ in orders/sales or a 20% sales lift ($2MM in incremental revenue). Incentive funding of 15% of incremental sales or $300K based on standard industry practices. 1,000 eligible Wholesalers = an average $12K order/sales commitment per Wholesaler. Apply the 80/20 rule = 20% (200) participating Wholesalers = 80% of performance.
- 12. Defining Measurement Criteria Measurable performance criteria will be established to address each of the following objectives, as follows: OBJECTIVE ONE: MERCHANDISING (Wholesaler Team Score) The entire Changing the Channel Incentive is built on the successful Wholesaler merchandising effort outlined in the previous section. MEASUREMENT CRITERIA: Following the initial merchandising event, beginning in Q2 each Wholesaler location will be Mystery Shopped a total of three (3) times throughout the remainder of FY 11 to ensure proper merchandising procedures are being followed and that Wholesaler staff is well-versed on EWR product attributes. Mystery Shoppers will include: Third-party Event Merchandising Field Reps (as required) EWR Field Sales Management (as available) All Mystery Shoppers will input their findings via the Online Reporting Microsite established for the Wholesaler Merchandising Events.
- 13. Defining Measurement Criteria OBJECTIVE TWO: WIKI WISDOM (Wholesaler Team Score) To address this important objective, we will develop an educated/engaged wholesale channel at all levels through ongoing dialog/interaction among: Emerson White-Rodgers management Wholesaler Principals Wholesaler Branch Managers Wholesaler Counter/Sales Staff By providing an open forum for idea-sharing and discussion regarding best practices, product attributes, ad hoc solutions, and customer feedback, the EWR Brand will be defined by the collective impressions of everyone involved in these discussions. In our new social world, the Brand truly is what our customer says it is. MEASUREMENT CRITERIA: As part of the Online Reporting Microsite, we will build-in a Wiki Wisdom social feature. Registered participants will earn points based on log-in frequency, length of visit, and for interaction with the Wiki (e.g., adding content, liking/sharing content, comments, etc.).
- 14. Defining Measurement Criteria OBJECTIVE THREE: ORDERS/SALES (Wholesaler Team Score) Increase Emerson White-Rodgers orders/sales in FY 11 by 20%+ over Y/A. Based on input from EWR management, when wholesale locations are merchandised properly, the product WILL sell. In fact, our understanding is that, at the Wholesaler level, the sale of three thermostat units funds the entire display effort! MEASUREMENT CRITERIA: For this measurement, each EWR Wholesaler will be assigned an order/sales objective of Y/A actual orders/sales plus 20%. Objective attainment (order/sales) will be appended to the wholesaler record by EWR via the Online Reporting Microsite based on product shipped/orders processed.
- 15. Program Mechanics ANNOUNCEMENT/REGISTRATION/PROGRAM RULES: Changing the Channel will be announced to the wholesale channel via: Scheduled EWR channel communications (Newsletters, eWires, trade publications, etc.) Social Network sites (LinkedIn, Twitter, Facebook) EWR Changing the Channel microsite To facilitate timely dialog (communications, performance tracking/reporting/award issuance, etc.) eligible participants must register at the Changing the Channel microsite (which will be developed as an extension to the Online Reporting microsite). The registration process will capture all appropriate participant information (e.g., name, address, etc.) to facilitate accurate program communications. Upon receipt of registration information, participants can access all relevant program information. Complete Rules to be developed based on approval to proceed.
- 16. EXAMPLE
- 17. According to the 2010 Social Media Marketing Report , 67% of marketers plan to increase their use of social media channels including blogs, Twitter, and Facebook.
- 18. Social Media is a complex, organic Online Conversation an open- communication network powered by: Social Networks Newsfeeds Microblogs Content Sharing Message boards Wikis Podcasts RSS Feeds And more
- 19. Look whos talking Customers..Stockholders .. Employees Advocates Competitors Social Media sites are the fastest-growing category, doubling in usage over the past year: 73% of online users have read a blog 45% have started their own blog 39% subscribe to an RSS feed 57% have joined a social network 55% have uploaded photos 83% have watched video clips From: Social Media Magic
- 20. Best Practices: 5-Steps to Success Regardless of industry, all successful entrepreneurs, executives and career professionals follow a repeating 5-step process to generate increased ROI. 1. Develop a Social Media strategy that addresses your business goals 2. Establish a presence in the various Social Media channels 3. Expand Reach 4. Nurture Relationships by engaging with your network 5. Maintain Presence and manage expectations From: Social Media Magic
- 21. Wholesaler Merchandising Events: $XXXX Channel Incentives: $XXXX Social Media/Social Influence Marketing: $XXXX