Two weeks ago, I had the extreme pleasure of meeting the marketing mavens of the shopping mall world otherwise known as ICSC ( International Council of Shopping Centers). I was quite enlightened to be exposed to the social business model and the the retail industry.
In a way they are just starting out with the social business paradigm shift. It is unlike anything they have every experienced before and the majority of the feedback came back to the same point. “We have to trust in the voice of our employees outward facing to the public?” No traditional PR/Legal filters?” This industry is very similar to the affiliate industry only it it is more arduous. Brick and mortar businesses were designed to “sell product” but the foundations in the industry could not exist with out their silent “services” counter part. Both affiliate businesses and the retail industry know you and know how to sell to you. It is a perfect science developed over hundreds of years of research. They how you will interact and react when you are on site or in a store. More specifically, what makes you buy their products. With the paradigm shift into the social business model they are now somewhat helpless.
The tell tail traditional signs of success are not as obvious online and so it affecting their sales. Also, as new leases are completed the tenants contribution to the overall shopping centers marketing budget is slowly be negotiated to lower rates, hence putting the squeeze on each individual center. As many tenants are slowly migrating to an online business model more purchases are being made online and NOT onsite at a traditional shopping center and the traditional need to “market” and drive foot traffic to the location dwindles significantly.
My presentation was entitled “I’m On-Site: How Do I Build a Social Marketing Roadmap for My Location?“
I’m in the midst of an EBook (Retail Revolution) that discusses what you can do to improve your chances for success. You may signup to receive it over at BlueBlazingRetail.com
Social Retail People you should follow: