Created by Erin Nelson at Seattle Good Business Network and moderated by Ralph Allora from TRAY Creative, The Winning Recipe: Add Local Flavor was the first in a three part series called Advantage Local; it’s mission is to support Seattle’s local business – but the learning from research conducted and the panel discussions extends beyond Seattle.
The event was hosted at Impact Hub Seattle.
Here is an interesting breakdown on the demographic of Seattle market on how they feel about buying local.
21% – Local Loyalists- don’t need to be convinced
12% – Price Shoppers – buying on value (not prime audience)
67% – Fence Sitters – looking for more convenience or something to convince them to buy local
Here is the clincher on that 67%: 4 in 10 of the Fence Sitters would buy local if they knew they would get excellent customer service - they are drawn in by positive reviews from review sites and WOM.
- Has his mission on his website, clear market distinction
- Does not do online sales
- His store provides a filter, something that online experience cannot
- In store experience builds customer loyalty
- Does nothing to get reviews (wants to be doing more)
- Can’t mark up a lot – prices lean
- Has multiple price point for similar toys
- Leverages shared values with employees and charities
- Lots of sponsoring of events that Top Ten Towys are aligned with
- Does tree planting and binder take-back programs
- Works with people where they are
- Provides online chat
- Does nothing to solicit reviewsart of an independent coop – talks to new customers about competitive cost
- Sales and referrals are the best way they stay in from of customers
- She looks for ways to support employees to extend their mission
- Credit Union’s have the benefit of a built in set of principles
- Alignment on mission helps to convert new customers
- They only use real members in advertising campaigns to tell the BECU story
- They encourage feedback – and engage when appropriate
- They have an external brand and an internal brand
- BECU diligently to convey that the external brand is the inspiration of the internal experience – everyone on the BECU team has the member first focus.
One question I had for Stephen after the event was specifically on the brass tacks of getting to that 67%. How do we do it?
He said that they focus on the strong referral component from that 21% and leverage some incentive programs. They rely a bit on advertising, but he also recommended research groups (which I found very interesting). Even in a small setting, if you can isolate a group of people, buy them lunch or something and really get to what their objection is, and find out how they would get off the fence.
I really like this idea, and am going to recommend it to some business that would benefit from it.
What are your thoughts on getting to that elusive 67% of your market that could just be sitting on the fence?