Mark Hunter talks to Bart Flaherty and Phil Lauria about RORI.
Excitement is building for the, “RORI: Return on Retail Investment - The Key to a Fact-Based and Profitable Shopper Marketing Strategy,” session scheduled for Monday, April 19th at 2:00 PM at the NARMS Spring Conference. The speakers will include: Bart Flaherty, Phil Lauria, Jerry O’Brien, Don Koller, Mary Jo Bastuba and Dr. Nancy Wong of UW. The session will include videos on the shopping experience, research and a handout available on www.narms.com. But it does not end there. Attendees can stay on to attend a hands-on training session on how to use the findings and end products of the ground breaking study. The breakout session, “NARMS RORI Program - Capture Your Fair Share of the $93 Million Display Merchandising Opportunity …Train on the RORI Display Selling Calculator,” is scheduled for 3:30 PM immediately following the RORI General Session.
The new, 30 minute, breakout session promises to position your company for a fair share of the $93,000,000 revenue opportunity that has been qualified by the new RORI display study. The mini-meeting, led by Bart Flaherty, will show you how the RORI Display Calculator can help your company create a financially grounded sales proposition that you can take to your manufacturer and retailer clients immediately. This simple to use spread sheet is backed by deep research and loaded with the crucial benchmarks needed for a practical and credible discussion with your clients.
Other exciting research scheduled to be unveiled in Tampa includes, “2010 Sampling Survey Findings,” by Dr. Kenny Herbst of Wake Forest University on Sunday April 18th at 4:00 PM. That session will be repeated on Tuesday, April 20 at 2:00 PM. Also, Chris Dammann of The Christopher Group will be presenting the PIC related study, “Continuing to Build Out the Future of Retail,” on Tuesday at 7:30 AM.
Access to all of these research and educational opportunities are exclusive benefits of NARMS Membership. Make sure you are in attendance as these new exciting tools are rolled-out to the membership next week at the 15th Annual NARMS Spring Conference at the Saddlebrook Resort in Tampa, Florida.
The NARMS RORI™ Industry Research Study reached an important benchmark last week when it was presented to a group of industry professionals at GlobalShop in Las Vegas. Additional RORI details will be presented at the NARMS Spring Conference scheduled for April 17 through 20 in Tampa, Florida. A group of over one hundred witnessed a panel discussion lead by Phil Lauria of Pelco Advisors. The blue ribbon panel consisted of Don Unser of NPD, Bill Harvey of TRA Global Inc., John Dranow of Smart Revenue and Jerry O’Brien of the Kohl Department Store Center of Retailing Excellence at the University of Wisconsin Madison.
The hour-long session introduced the concept of RORI™, highlighted the benefits to the various trading partners in the go-to-market process, and solicited additional participation from the audience. Many of those in attendance stayed after to participate in a lively Q&A session and follow-up with interested parties is ongoing.
By way of introduction, The NARMS RORI™ Industry Research Study is an open research study conducted by GroupM, the University of Wisconsin, Madison Kohl’s Department Stores Center for Retailing Excellence, and sponsored by NARMS. It is a 360 degree analysis of in-market retail execution based on real world experiments executed in carefully controlled test designs. All research analytics will be conducted by GroupM along with design development by the University of Wisconsin Madison. All aspects of retail go-to-market activities are candidates for testing in the RORI™ Study framework.
Audience members learned the scope and framework for the study and were given specific expected outcomes of participation. Panel members also took time to explain the new set of metrics that will be used to deliver return on investment information to the key four retail marketing constituent groups namely manufacturers, retailers, service providers and industry suppliers. Additional deliverables include fact-based selling stories and common language across all the constituents.
Participation in the RORI™ research study is open and available to any manufacturer, retailer and industry product or service providers. To learn more about the study and how your company can participate contact either NARMS or Bart Flaherty of GroupM Business Sciences at firstname.lastname@example.org.
As mentioned previous, the next big event on the RORI™ schedule will take place at NARMS Spring Conference on Monday, April 19th from 2:00-3:30 PM. Make sure you circle this event on your NARMS conference agenda.
Last April in Colorado Springs, we introduced the RORI project. RORI stands for Return on Retail Investment. The announcement had the gathering buzzing with excitement and anticipation. Today, we take a quick look at the status of the project and what we can expect to see and hear at the upcoming NARMS Spring Conference at the Saddlebrook Resort in Tampa. On Monday, April 19, a General Session featuring Bart Flaherty of GroupM, Phil Lauria of Pelco Advisors, Jerry O’Brien of the Kohl Center for Retail Excellence at the University of Wisconsin - Madison, and Mary Jo Bastuba of Nintendo will bring us up to speed on this industry changing movement.
RORI is a consortium of companies who are coming together to use data and analysis to develop a fact based understanding about how in-store activities drive return on investment. The movement has already created a common language between retailers, manufacturers and suppliers. It requires agreement from manufacturers and/or retailers to analyze actual retail programs being executed in-market. These real examples and case studies will be used to develop white papers, presentations and databases that contribute to true understanding. This knowledge will be used in PR initiatives and by NARMS members to chart a new strategic direction for their companies. And will provide the knowledge assets to sell in their programs at higher success rates.
RORI is not a static 200 page power point presentation. It is data in a live dashboard that can be queried by any NARMS member to build custom presentations, selling templates, reports and analysis on how specific retail program deliver lift and ROI.
Sponsorship of RORI will give NARMS high visibility when case studies and results become available. It will position NARMS as the thought leader in retail. It is also designed to further expand membership to include manufacturers and suppliers not currently involved in the industry, invigorating the Association with new ideas and fresh perspectives.
To date, the study has been designed and launched, gained an objective educational engagement through the University of Wisconsin, and achieved its first four foundational members. In addition to Spring Conference, RORI will be participating in GlobalShop in March and The ARF Conference in June.
There is still plenty of room for NARMS members to get involved. Foundational membership will remain open through March. Any clients can be invited to join and Bart Flaherty will be happy to help pitch RORI. He can be contacted at: email@example.com.
The business climate today is unlike anything in the past. Business models are being challenged as never before with mutual expectations changing by the minute. The next NARMS Webinar - TCE: Total Customer Experience, A Business to Business Experience - will discuss methodologies and strategies for improving business communications and relationships between companies and their client partners. Join Phil Lauria as he leads this hour-long session on Thursday, Jan 28 at 1:00 PM CST. The NARMS Webinar series, part of the NARMS-U educational platform, is sponsored by Natural Insight and brought to you through the technology of ReadyTalk.
While the item that appears on everyone’s strategic agenda is ROI, there remains an essential component that needs to be addressed. It is essential to create a vibrant business relationship environment that fosters a desire to want to do more business together. Lauria will discuss the fundamental drivers creating a successful “Total Customer Experience” with a focus on how to think about creating lasting value driven relationships with clients that encourage multi-level business building opportunities.
An industry thought leader and frequent speaker and panel moderator, Lauria is founder and Managing Director of Pelco Advisors, LLC., a global retail marketing and merchandising consulting practice. He began his career with Kraft General Foods, founded LCA, Inc, and was the CEO of a leading MSO for several years. Lauria is an advisor to several companies and an active member of NARMS having recently developed the association’s strategic plan.
The session is complimentary to NARMS members as a valuable membership benefit and is made available to non-members for a nominal fee. We hope you will join us for this exciting and timely topic and we encourage you to share this invitation with other co-workers and anyone else who might gain value from this information-sharing opportunity. You can register by clicking here.
After just having completed the summer MSO Division Committee meeting yesterday, I thought it would be a good idea to bring the membership up-to-date on the types of things that your leadership group is up to. The meeting took place on Monday and Tuesday, July 13 and 14, in Grapevine, Texas at the Gaylord Texan Resort and Conference Center. The meeting kicks off our mid-year meeting schedule which culminates in NARMS Summer Board of Directors Meeting during the last week of July in Bloomington, Minnesota.
During our time in Texas, our MSO Division was called to order at 1:00 PM on Monday and immediately broke into a very lively and productive afternoon session. The first order of business was to hear from Chris Dammann who presented a preliminary look at the 2009 Survey of At-Retail Merchandising and Marketing Practices. Dammann shared the results of the survey, some key findings that the data seems to indicate and the next steps toward publishing the results in a few weeks. There is still an opportunity for manufacturers and retailers to participate, so if you know of a contact who would like to help us out, please direct them to these links: Manufacturer Survey, Retailer Survey.
Phil Lauria next took the podium and delivered an update on the landmark RORI Study. Lauria briefed the committee on activity that has been taking place since the announcement of the project during 2009 Spring Conference. In general, RORI is generating tremendous interest in the marketplace with many key players lining up to participate. Those interested in participating should contact Dan Borschke for details. Lauria also shared a timeline for the project leading up to the 2010 Spring Conference.
The afternoon finished out with Vicki Alarie sharing some feedback from our Manufacturers Division. Alarie facilitated the division’s roundtable discussions at the 2009 Spring Conference and has been in close contact with the members since that time. The feedback centered on how manufacturers feel the Association can be of better service, how Spring Conference could be improved, and general observations of the marketplace. Incidentally, the information shared by Alarie closely tracked with information shared by Dammann earlier. The discussions led directly into Lauria again addressing the group on additions to the NARMS Strategic Plan that he plans to share with the Board of Directors in Minneapolis.
On Tuesday morning, the group was brought up-to-date on the state of the Association and spent the balance of the morning discussing and making plans for the MSO agenda at the 2010 Spring Conference.
On Tuesday-Thursday, July 28-30, the NARMS Board of Directors will be meeting in the Minneapolis area at the Hilton Minneapolis/Bloomington. I will share more about the three day agenda in the near future. One of the more exciting items is a Manufacturer/Retailer Reception scheduled for Tuesday evening. This is designed to introduce new Trading Partners members to the organization. If you have a contact in the Twin Cities area that you think would be interested in attending and meeting association leadership, please pass along this invitation. NARMS 7/15/09