Retail Observer

October 2018

The Retail Observer is an industry leading magazine for INDEPENDENT RETAILERS in Major Appliances, Consumer Electronics and Home Furnishings

Issue link:

Contents of this Issue


Page 57 of 67

RETAILOBSERVER.COM OCTOBER 2018 58 B U Y I N G G R O U P N E W S RO A t BrandSource, it is all about the members. The 2018 Brand- Source National Convention was no different. It was full of energized members and exciting developments! BrandSource returned more money back to the members than ever before, topping $7 million more in 2018, and announced several groundbreaking initiatives that will help members grow their businesses. The Convention was held August 26–29th at Caesar's Palace in Las Vegas, Nevada and featured a jam-packed agenda with best-in-class education workshops and a state- of-the-art vendor show floor. Jim Ristow, chief executive officer, BrandSource made a stunning announcement to the membership that will change the way they market their businesses. On average, 30-40 percent of member co-op advertising dollars go unused throughout the year. Industry experts and vendors said co-op dollars are best utilized through digital marketing spend. BrandSource and their vendor partners decided to put that money to good use, by giving it to the members to allocate for digital marketing and advertising. The BrandSource team announced a co-op dollar match program, worth up to $1,500 per member each month. BrandSource will match co-op dollar for dollar, up to $500 per month, for each member on AVB aligned digital marketing services, making it the best member-focused initiative in the industry. Ristow noted, "The BrandSource 2018 National Convention truly solidified our commitment to retail member success. The BrandSource team is tasked with putting more money in the members pockets each year and helping them grow their business. Everything BrandSource does is for the members and our recent announcements, specifically the $500 co-op match, reflect that guarantee. Our team also put together an incredible industry-first retail sales associate program, called Heavy Hitters, focused on honoring them and educating them for future success. BrandSource is proud to be a member-owned not-for-profit and believes in the importance of the member story and their continued success!" "BrandSource is focused on the bottom line and putting money back in our pockets. They are creating rebates for dealers, not just consumers, and now up to a $500 co-op match per qualifying brand. This is a testament to a member-owned buying group. They are listening to our problems and delivering solutions," said Samuel McVay, Charley's Appliance, El Dorado, Kansas. This year's theme was Tell Your Story. The initiative helps members connect with their customers in a very deep, meaningful way through digital marketing and advertising tools. Ristow, delivered a no-nonsense speech, offering advice to members that they must go "digital or die." Digital marketing has become "today's word of mouth" and BrandSource is helping their members grow in this space through industry-leading initiatives. BrandSource's member-owned in-house marketing company, AVB Marketing, worked specifically with the members to help them put together their "hometown" story. AVB Marketing is the industry leader in member-facing digital marketing strategies, at one-third the cost of the average marketing agency. The marketing company also announced a groundbreaking evolution to help members expand their marketing toolbox by adding 60 new interactive website features. "People don't always connect with the successes, they also connect with the messes. The consumer and the employee have to be the face of the business. Today, 88 percent of consumers are online. Our members need to define their brand and what they stand for, in a way that sparks emotion and response. Storytelling is the best marketing. In order to do that, our members need the best website and digital footprint. AVB marketing offers that solution," said John White, chief marketing officer, BrandSource. The convention included more education than ever before, with over 130 training sessions for members to take home and implement in their stores. Education and training topics ranged from modern digital marketing strategies and trends to succession planning and business finance advice; there was something for every retail business owner. All of this was conveyed to the membership through the industry's best experts. Another new initiative was an industry-first retail sales academy to recognize and train hundreds of the best and brightest retail sales people. The revolutionary "Heavy Hitters" academy was offered with full scholarships and provided over twenty specialized education sessions, engaging networking opportunities and comprehensive product training. At the Heavy Hitter's awards ceremony, the top Heavy Hitters were honored with awards, chosen by BrandSource vendor partners for their outstanding work in retail sales. Looking toward the future, the BrandSource team revealed a luxury badge at the convention, called LUXE, including key luxury vendor partners. "We are very excited about our continued focus on luxury appliances. The luxury category continues to grow and is a bright spot in our portfolio. The luxury category is also an area where the independent dealers can thrive. They are best-in-class at building relationships, servicing builders and specifiers and selling higher-end products," said Chad Evans, general manager of merchandising, BrandSource. BRANDSOURCE FOCUSED ON MORE MONEY IN THE MEMBERS' POCKETS

Articles in this issue

Links on this page

Archives of this issue

view archives of Retail Observer - October 2018