This week, Flowhaven had the pleasure of sponsoring Licensing International’s inaugural Global Virtual Young Professionals Network event: “Looking Good: Visual Displays Can Impact Your Bottom Line”
The discussion focused on the value of visual displays and trend forecasting at a time when customers are increasingly interested in e-commerce, and brick and mortar retailers are changing the rules of the game to stay current and keep customers engaged. The event sought to answer the following questions:
· What makes a great display?
· How can you create one on a budget?
· Are retailers the only ones who should care?
Who better to answer than two retail dynamos with more than 50 years of collective experience under their belts.
Trend forecaster Michelle Lamb, co-founder, and chairman of Minneapolis-based Marketing Directions works extensively with clients to provide individual direction and color specification for retail. Past clients include Pier 1 Imports, ACCO, Hunter Douglas, Target Stores, Home Depot, Walmart, Gerber Baby.
Marketing and licensing expert Leigh Ann Schwarzkopf, co-founder, Project Partners Network, led General Mills’ trademark licensing team for six years overseeing the Betty Crocker, the Pillsbury Doughboy, Wheaties, and Cheerios brands. She’s largely credited with integrated Pillsbury’s properties into General Mills’ portfolio during the billion-dollar food giants’ merger, redeveloped the company’s licensee summits, and structured programs to improve licensees’ start-up and speed-to-market time.
In short, this webinar offered tips to licensing professionals of all levels interested in leveraging design to increase revenue. To give you a glimpse, here are some key takeaways from the webinar.
1. First Impressions Matter
The way a customer first experiences your product can be the difference between a brand evangelist and a lost sale. It's important for retailers, both online and physical, to build store window treatments, home pages and advertisements that ensure potential customers are compelled to engage with the brand as soon as they become aware of it.
2. Today's Trends Have Shorter Life Cycles
Thanks to the internet and social media, today, trends change more quickly than they ever have in human history. When planning visual displays, be sure you know where a trend is in its lifecycle and allocate resources to stay adaptable to quick changes in consumer tastes.
3. Know Your Buyers
Not all visual imagery speaks to all buyers (i.e. pastel unicorn patterns may not do well at a heavy metal-focused retail outlet). Conduct thorough research to understand what products your customers want and what images speak to them. Then, combine your insights to come up with displays that feel perfectly tailored to their tastes.
4. Don’t Fear Digital
Some retailers who have excelled at visual displays at brick and mortar have failed to replicate the same feeling on their e-commerce sites and social channels. Online, existing customers look for consistency. New customers want to establish a connection before deciding to visit their physical locations (if at all).
5. Brand values matter
In recent surveys, more than half of modern consumers said they would not support a brand that did not align with their beliefs and values. If your brand has a commitment to a cause, compelling narrative, or bold mission statement, find creative ways to include that in your visual displays.
"Looking Good: Visual Displays Can Impact Your Bottom Line" was one of many exciting seminars/webinars presented by Licensing International in an effort to educate and engage its Young Professional's Network. If you weren’t able to attend but would like to view the recording, you can check out the video here.