Making Moves: What Have We Learned And What Is The Plan?
It’s time for a game plan. After reading our previous posts on competition and trends, you should have all of the tools necessary in order to propel your business forward. Have you identified your competitors? Check. Have you identified the trends within your company’s wins and losses? Check. Have you placed your company’s trends within the context of your industry’s trends and provided a gap analysis in an aggregate report? Wondering what a Competitive Tracking Service is? Do not fret – you are about to find out.
Knowing your competition and noticing the trends within your company are extremely valuable practices that will certainly help you make moves towards success, but without a game plan, those practices do not hold nearly as much value. A Competitive Tracking Service will place all of the trends you need to be aware of in one place so that you may make the most informed decisions possible while assessing your company goals. Short of having an insider planted within the four walls of your competitors’ offices, most companies do not give their sales information to their direct competition, which will leave you coming up short when looking for certain reporting trends. Taking a look at the bigger picture and setting those results against your company’s own picture will keep you in tune with what is growing and what is declining.
The amount of channels within the bulk gift card industry can make trend reporting extremely difficult to decipher. Looking at overall sales, are, of course, important to any company’s growth, but there are many other categories that you can report on. Restaurant brands, retail brands, novelty brands, department store brands, and luxury brands are just a few examples of categories pulled from an aggregate report. If this type of reporting sounds like a daunting task, you are not wrong. In fact, some companies choose to outsource when it comes to specialized reporting in order to focus on the day to day tasks that do not leave time for such projects. The marketing and data team here at Stoner Bunting Gift Cards is dedicated to capitalizing on growing trends, finding success within the bigger picture, and providing quality reporting to our trusted clients and partners. If you find yourself wanting to learn more, but not having the time and are wondering where to begin, leave the work to us and let us help you make the next move.