Dr. Herb Sorensen is one of the world’s leading experts in shopper behavior and retail purchase decision-making.
Sorensen has written a book that reveals how customers really behave, and how retailers can use that information to increase sales and profits.
The book relies on his decades of experience analyzing consumer behavior at retail, and a moment-by-moment analysis of millions of shopping trips.
And it’s perfect for tough economic times like these.
Dr. Sorensen answers 5 key questions marketing pros need to know about retail:
1. How can my store appeal to “quick-trip,” “fill-in,” and “stock-up” shoppers?
2.Which of my promotional programs build sales, and which are counterproductive?
3. How can my store use customers’ natural in-store “migration” patterns to drive more sales per minute?
4.What’s the best way to leverage all three customer “moments of truth”?
5. What’s the truth about the “long tail”—and which long-tail myths are costing me a fortune?
Dr. Sorenson also offers these tips for marketing pros who want to get inside the minds of shoppers at retail:
- Your top-selling items (top 5%) have the greatest potential for increased sales.
- Tell shoppers exactly what those top-selling items are.
- Put those items on high traffic pathways that are convenient to the shopper.
- Too many tagged special offers are not really offers at all, just noisy clutter.
- Use reduced pricing very selectively, and prominently, to convey the value message.
Here at CCT Advertising, we’ve made this book required reading for staff members working on retail businesses. If you’re the CMO of a brand that sells at retail, you might want to do the same with your staff. Here’s a link to the book at Amazon.