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Macy's Marketing Strategy

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A group project to develop methods to improve the online marketing strategy of Macy's department store Wedding Registry.

Veröffentlicht in: Marketing
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Macy's Marketing Strategy

  1. 1. Online Wedding & Gift Registry
  2. 2. Yadezi Abreu Ashley Pouya Natalia Becerra Phi-Uyen Pham Danavir Sarria Sam Sotomayor
  3. 3. Online Team A Online Team B Personalized Marketing Strategy Personalized Marketing Strategy Danavir Natalia Yadezi Phi Sam Ashley
  4. 4. Pre- SWOT Analysis
  5. 5. Weaknesses • Customers often complained about the inefficiency or hardened use of mobile app • Overwhelming size of store leads to frustrated customers • Antiquated mobile scan capabilities • Somewhat not consistent in regards to following-up Threats • Competitors’ lower prices and variety of selection could pull potential customers • Constant updating of the mobile app due to bugs and gaps may increase expenditures • E-brouchure Opportunities • Partnership with wedding coordinators and/or designers for further Wedding & Registry program promotion should be considered • Growing online shopping popularity should not be undermined • Great Reviews Strengths • Well-trained and friendly staff • Website is easy to operate and completely functional • Strong Brand Recognition • Uses both old and new channels to promote sales/advertise • Dream Fund
  6. 6. Strengths • Well-trained and friendly staff • Website is easy to operate and completely functional • Strong Brand Recognition • Uses both old and new channels to promote sales/advertise • Dream Fund
  7. 7. Weaknesses • Customers often complained about the inefficiency or hardened use of mobile app • Overwhelming size of store leads to frustrated customers • Antiquated mobile scan capabilities • Somewhat not consistent in regards to following-up
  8. 8. Opportunities • Partnership with wedding coordinators and/or designers for further Wedding & Registry program promotion should be considered • Growing online shopping popularity should not be undermined • Great Reviews
  9. 9. Threats • Competitors’ lower prices and variety of selection could pull potential customers • Constant updating of the mobile app due to bugs and gaps may increase expenditures • E-brouchure
  10. 10. Research
  11. 11. Online Team A Online Team B Personalized Marketing Strategy Personalized Marketing Strategy Danavir Natalia Yadezi Phi Sam
  12. 12. Survey Results Team A
  13. 13. Demographics
  14. 14. Age Group Do you prefer having the gift registry process completely online, or do you prefer to make in store visits? Demographics
  15. 15. Survey Results
  16. 16. Which positive experience would make you most want to tell others about Macy's wedding registry program
  17. 17. Survey Results Team B
  18. 18. Demographics (Team B) Age Group
  19. 19. Did you know that Macy’s offers a free mobile app? Did you access your registry in-store or online?
  20. 20. Did you know that Macy’s offers a Dream Fund service? Would you rather receive cash or items from your registry as gifts?
  21. 21. Secret Shopping
  22. 22. Mobile App Yes Yes Yes Registry Welcome Package Yes Yes No Discount Incentives with store credit line 10% back on eligible purchases 5% back on eligible gifts Dream Fund 5 Reward points for every dollar spent in BB&B 1 point for every dollar spent elsewhere 1000 points= 10$ reward card 5% back on all purchases 30 Extra return days Discount Incentive (independent from store credit line) Weekly Specials Exclusive discount for registrants 20% coupons Price match Weekly specials Weekly specials Return Policy 1 year from date of purchase for purchases made through registry(or any product that has the Macys return label) So as long as item was purchased in BB&B and on registry(or accompanied with gift receipt) will be eligible for return/exchange Up to 1 year after your event date to return or exchange items from your Registry Bridal Consultants Yes Yes No Personal Shoppers Yes No No Partial Instore /Online Registry capabilities Yes Yes No Compatible Mobile App Brochure No Yes No
  23. 23. One-on-One Interviews
  24. 24. “We wanted to choose a place where we could find trendy, homey items at an affordable price. It was also important to choose a brand that most people were familiar with, since a lot of our invitees where from Latin America” Interview One Team A
  25. 25. Interview Two Team B • Couple received a gift card that consisted of 5% off of purchased items from the guests (5 months after the wedding) • Took longer to load online and limited display of items per page • More lavish, up-scale, higher end style • Online chat was helpful • Tons of promotional sales and honored price adjustments • Very selective and limited to quantity, selection, and brands to choose from • Couple received 20% off entire purchase since majority guests purchased items • Up to 90 items displayed per page • Reaches out to a younger crowd/fun • Received $20 gift card on Shutterfly and goodie basket filled with stuff • Convenience with selection and brands to choose from Interview Three Team B
  26. 26. • Online portion was simple but took some time to practice navigating it (reluctant to login) • Keeps the couple in the loop with the latest merchandise and promotions even after the wedding • Needs to be based off of more than just their reputation • Needs improvement on reviews that were purchased in the past – Ability to post pictures – Ability to express more of an opinion – Needs an option of: Would you recommend this? • Online portion was easy to navigate • After the wedding, the company only sends monthly advertisements (not relating to wedding registry) • Made the couple feel as if they were a million bucks Interview Three Team B
  27. 27. Recommendations
  28. 28. Create an advertising campaign during June and September, the wedding ‘high seasons’ Utilize the hashtag “#SAYIDOTOMACYS” across social media platforms to increase publicity of Macy’s gift registry program in an environment that is becoming increasingly dependent upon social media #sayidotomacys
  29. 29. #sayidotomacys You can see two sample Instagram posts below from a Macys personal gift registry , as well as a contestant.
  30. 30. Social Media • Snapchat, Instagram, Facebook, Pinterest • Native Content Educate, Entertain, And Sell
  31. 31. When searching for “wedding registry” on Google, Macy’s gift registry comes in 7th, near the bottom of the page Macy’s can utilize a program such as Google Adwords to increase its Google searchability so that its website is higher up on the Google search page results Google Analytics Wedding Registry
  32. 32. Customization
  33. 33. Custom URL • Macy’s should include the name of the couple in the URL for their registry. • Allow the input of the wedding information directly on the couple’s registry site. • Customization of colors and designs of site to match wedding theme.
  34. 34. Custom Registry • Many make use of third-party registry sites that link sales to Macys & other retailers • Couples and their guests are loosing the interaction and attention they would receive from the Macy’s wedding registry department • Partnering with these third party sites will help Macy’s connect with their target market.
  35. 35. Gamification
  36. 36. Smart Scanning • Competitors have developed applications that can pull product information directly from the image of a product in a catalog. • Ease of registry can be enhanced by similar methods and technology. • Bridges the gap between the online and in-store experience.
  37. 37. Group Funding and Rewards • Big ticket items can be intimidating. – Allow guests to “split the bill” • Allow guests to contribute to a fund with the incentive of getting rewarded for reaching various levels of total contributions. – Contributions can be applied toward a single item or the Dream Fund.
  38. 38. Recap • Custom URL • Custom Registry • Free Gift For Registering Smart Scanning • Group Funding And Rewards • Review Upgrade • Dream Fun Honeymoon • Google Adwords • Social Media • #SayIDoToMacys Campaign
  39. 39. Post- SWOT Analysis
  40. 40. Strengths • Exclusive and top quality merchandise • Strong brand recognition • My Macy’s Program rewards • Build awareness from 3rd parties • Advertising on social media Better incentives encourage customers to register with Macy’s Weakness • Expensive products • Limited budget to implement new strategies and recommendations Opportunities • Continually improving online process for customers to manage their registries • Addition of new or trending products • Expanding to more social media platforms • Growing fan base or followers on social media outlets Threats • Competition from other store’s registries • Competitors with more affordable prices • Changes in technology may influence customer’s experience with website and app • Customers who are not tech-savy may not be interested in managing their registries online
  41. 41. Strengths • Strong online presence • My Macy’s Program rewards • Build awareness from 3rd parties • Advertising on social media Better incentives encourage customers to register with Macy’s
  42. 42. Weaknesses • Expensive products • Limited budget to implement new strategies and recommendations
  43. 43. Opportunities • Continually improving online process for customers to manage their registries • Addition of new or trending products • Expanding to more social media platforms • Growing fan base or followers on social media outlets
  44. 44. Threats • Competition from other store’s registries • Competitors with more affordable prices • Changes in technology may influence customer’s experience with website and app • Customers who are not tech-savvy may not be interested in managing their registries online
  45. 45. Step #1: Improve The Product Conclusion Step #2: Provide Value Upfront Step #3: Aggressively Promote

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