Disruptive Marketing For the High Street
In 2018 the high street took a bit of a battering as reported by the BBC:
In the three months to September, there were 93,000 fewer jobs in retail in the UK compared with the same period the previous year, according to the Office for National Statistics.
Two years ago, the British Retail Consortium warned there could be up to 900,000 fewer jobs in retail over the next decade – an industry that’s the biggest employer in the private sector.
That prediction is now starting to play out in what’s been a turbulent year.
Stores are struggling to compete with their own online success.
“The problem for most big retailers is that they’ve signed up in the past, when it seemed like a good idea, on, say, 25 or 30-year leases. The one thing you can’t alter is your biggest single cost. The fact that you can’t get out of those leases is the ultimate killer blow,” says Sir Ian Cheshire, the former chief executive of B&Q who is now chairman of Debenhams.
With one in every five pounds being spent online we have to stop the online v instore battle and use technology to supplement the high street.
Continual discounting is even causing online stores such as ASOS to struggle too.
It’s time for disruptive marketing.
What is disruptive marketing?
According to this article, it is described as follows:
In the traditional approach to marketing, companies develop products or services and then implement strategies to help attract new customers to their business. (See also Traditional Marketing)
But times have changed. Today’s consumers drive a market, not just a business. Therefore, companies must tap into a market’s mood and provide what consumers want. This is where disruptive marketing takes its cue.
In truth, disruption is more a business model than a marketing approach. Most companies still tend to market through traditional means, which provide plenty of opportunities for rival companies to disrupt current messages. However, consumers have become stubbornly resilient to shifting messages, thanks to an increasingly crowded market. To combat this, a company’s product or service must innovate and and pay attention to consumers, delivering exactly what the market wants.
Disruptive low-cost advertising?
The moola rewards platform is a self-service web-based application that retailers use to reach students directly, offering deals and discounts to cover slack periods within the day or week.
Students discover offers and deals through a free to download app which uses geo-targeting to update as the student walks from street to street.
For the high street to compete with online it needs to work hard to rediscover itself. It can’t simply die and probably won’t. High street shopping is an event that people enjoy. It’s entertainment. With moola rewards, retailers can create an unlimited number of vouchers to cover as many events as the retailer can think of.
For £9.99 + VAT per month, per location it’s would be hard to find a reason not to give moola a trial.