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Why you need a living, breathing store profiling system

Centralising information about your stores

Working with retailers over the years, we’ve heard the same story so many times – how difficult it is to collect and share accurate and comprehensive information about stores, and how often this information is saved on a spreadsheet.

Sound familiar?

Your ERP systems may hold stock data and they might also house information about store layouts. You may have paid for an audit, for people to go out to your stores and count the fixtures inside them and then give you all this data (likely on a spreadsheet).

You then have to bring it all together to try and make decisions on your marketing spend.  You want to make sure any allocations you do for in-store POS, match each stores’ requirements. Ideally, you only ever want to produce and send stores the materials that they actually need.

You might want to use your store information to better target your marketing messages, for example using demographic information or knowledge about competitors in a store’s local area.

All too often, this is too difficult to manage on spreadsheets. The result? Generic marketing packs, lots of waste and missed opportunities to maximise sales with more targeted promotions.

A physical store audit (you can read more about your store audit options here) is a bit like a census; as soon as it has been completed, someone else is born so it’s very quickly out of date. Store audit data is really of little use unless it’s housed in a living, breathing store profiling system that’s constantly updated with the latest information.

And, if you’ve found you need an easier way to access store information to optimise your in-store marketing, it’s more than likely other departments in your organisation also want to be able to get quick data about your stores for refurbishments, space planning, installations and any other in-store activities!

Store Profiling: Where Colateral StoreEstate comes in

Our platform has always housed detailed data about stores, with a focus on allowing accurate in-store marketing allocations. But, we wanted to create a store profiling solution that had even more value for retailers, that can be used outside of marketing teams, that can centralise all this incredibly important store information.

The result? Our flexible, online store profiling tool, Colateral StoreEstate.

You can read a summary of what it has to offer here.

If you’ve had an audit done, you can load all the data collected into your store profiles. If you haven’t, then we can help you to conduct one, and you can use our platform to coordinate a low-cost self-service way to populate and/or refresh your information.

You can make it win-win with your stores or regional managers; if they share information to help you to update their stores, they get more specific POS and easier implementation of campaigns (and a much less chock-a-block POS cupboard!).

And for departments outside marketing? You can share store profile information with anyone in your organisation that needs it. They can access it easily via a web browser, whenever and wherever they are.

You decide who’s responsible for keeping it up to date. You can see when the latest update to a store profile took place. You have complete control.

And, you no longer have to work from a spreadsheet!

If you’re looking to simplify the way you manage, update and utilise store information across your organisation, get in touch and we’ll show you how Colateral can help.

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