GVSU Looks to the Used Book Market to Help Students Save
May 17th
The following article, written by Brian McVicar for M Live, stresses the impact used textbooks can have on your students’ savings. The used textbook still offers the best value, in many cases, and can be a great asset to college stores who are trying to stay competitive. MBS has the largest inventory of used textbooks in the industry, so remember to order with us first to get the best selection!
Grand Valley State University says it’s helping drive down the cost of an item that’s often difficult for cash-strapped students to afford: textbooks.
The University Bookstore estimates that it saved GVSU students a total of $1.4 million on textbooks during the 2010-2011 academic year. Savings for the most recent academic year, which started last fall, were not yet available.
“A lot of the times, college bookstores get a bad rap, but it’s important to let students know what we’re doing to keep our prices low,” said Tony Glaab, associate manager at the University Bookstore.
Glaab said the savings – slightly more than the previous year – were achieved by relying more heavily on used textbooks instead of new ones. The strategy makes sense in many entry level courses where little coursework changes when a new edition of a textbook is released.
“Publishers come out with new editions every couple years,” he said. “In most cases, the additions are pretty negligible.”
Prices for books differ based on subject matter, but in some instances, new editions can go for $100 more than used textbooks, Glaab said.
“It’s pretty dramatic,” he said of the price change.
Books Still Pricey
Despite the efforts by GVSU, consumer advocacy groups say the price of textbooks remain stubbornly high.
Changes aimed at reducing prices have been made in recent years, but there’s little evidence that the price of textbooks are falling, said Nicole Allen, who oversees textbook advocacy for the Student Public Interest Research Groups.
“On one hand, we’re seeing the price of textbooks rising as fast as ever,” Allen said, adding that prices are going up four times faster than the rate of inflation. “That means the price of everything else is rising, including used books.”
Students attending a public, 4-year university spend an average of $1,168 on books and supplies a year, according to the College Board’s 2011 Trends in College Pricing. Allen said
Glaab said GVSU hasn’t calculated a figure detailing what the average student spends on books. The amount, he said, would differ widely based upon what type of courses a student takes.
Those pursuing a career in health might spend more than a writing or history major because their textbooks would likely be updated more frequently, he said.
But overall, Glaab said GVSU is often cheaper than other providers because about half the textbooks it carries are used. That’s higher than the industry as a whole, which typically carries a stock of 30 percent used books, he said.
eBooks Not Producing Savings
Meanwhile, textbook rentals and eBooks haven’t produced the savings that many once thought they would, he said. GVSU doesn’t offer textbook rentals.
In some instances, eBooks cost nearly as much as traditional books. And because they can’t be sold back to the bookstore, few students have purchased them.
A recent study at Daytona State College found that some students who purchased eBooks saved only $1 more than students who purchased regular textbooks.
“The more interactive they get, and if they can bring the price down, the more interest we’ll get from students,” Glaab said, adding that eBook sales amounted to less than one percent of overall textbook sales at GVSU.
Brian Page, owner of Brian’s Book, which has stores in Allendale and Grand Rapids, said he’s long championed growing the number of used books available to students.
He says as much of 60 percent of his inventory is used books, and that textbook rentals – where students pay a smaller price for a book but must return it at the end of the semester – is growing in popularity.
“We’re trying to answer the desires of the customers – the lowest price point, plain and simple,” Page said.
He added that textbook rentals are typically cheaper upfront for students, but buying used books might save more in the long run.
That’s because bookstores may by a book back for more than the student spent to rent it. Where rentals save students money is when the bookstore doesn’t end up buying a particular book back because the college is no longer using it, Page said. GVSU offers a buyback guarantee on some books.
Are Federal Rules Working?
Rules passed in 2008 as part of the reauthorization of the Higher Education Act have created a more favorable environment for students to purchase text books, but it remains to be seen how much it has saved students, Allen said.
The changes: requiring textbook publishers to include the price of books when marketing them to college faculty; requiring that items included in a “textbook bundle,” such as a study guide or CD, also be sold separately; and mandating that colleges tell students what textbooks are required when they sign up for courses.
“That’s definitely allowed students to shop around much more than they have in the past,” she said.
But, she added one sobering statistic: One in seven students has foregone purchasing a textbook at least once because of price, according to a survey by U.S. Pirg.
“That’s alarming,” Allen said. “They’re saving money, but not in a way that’s good for their education.”
University Store Sends Students on Scavenger Hunt
May 16th
The following article was written by Stacy Elofir, director of University Store, for Towson University’s Division of Administration and Finance blog, Dollars & Common Sense. Elofir shares her store’s latest promotion and how it helped bring various departments on campus together. It definitely sounds like a fun way to collaborate as well as connect with students! Check it out:
Right before Spring Break the Office of Student Activities and the University Store decided to bring a little March Gnome Madness to Towson University. This was the idea…10 crazy days, 10 student winners, 10 hiding gnomes all over campus. A daily scavenger hunt to find those escaped gnomes. What a fun thing to do to get students involved before Spring Break and partner with departments all over campus.
One of the TU gnomes used in the scavenger hunt. Photo Credit: University Store
All of the departments that we contacted were excited and willing to participate. Each hiding place had its own set of clues given from each area. I was so glad that I didn’t have to write the clues; I am really bad at that sort of thing. What I didn’t know is how great each clue would be and that each clue would reflect the flavor of the department.
Cook Library wrote, “You can always get help wherever you roam. Just Ask a Librarian how to locate a journal and you’ll find that gnome.”
The Glen wrote, “In a room all made of glass, I am in the center of attention, Hansel and Gretel would not venture near.”
Student Affairs, Center for Student Diversity, Athletics, the Center for the Arts, Burdick Gym, The Career Center, and HRL all got involved. I had this clue from one auspicious office, “This aspiring gnome is learning how Towson’s executive office runs.” Can you guess where he was found? I am inspired by the teamwork and the ability for us as staff to do something fun for our students and that showcases the spirit of our school. Thank you, all who participated, helped, cheered and laughed with us. Now let’s come up with something else we can do together. It breaks up the day and it inspires us to do more!
Oh…and these guys are available at the Ustore. Give a Gnome a Home!
How to Launch Facebook Offers in Minutes
May 15th
The following excerpt is from the article, How to Launch Facebook Offers in Minutes, written by James Meyer for SocialMediaToday.com. View the full article.
One of the most powerful features you can use to promote your business is Facebook Offers. Although they have been in beta for nearly two months, Offers are now being rolled out to small businesses slowly and that’s good news! The even better news is that it takes just minutes to create an offer. Here we will go step by step from idea to redemption.
Step by Step:
Photo Credit: SocialMediaToday.com
1. On your page, at the top of your timeline on the left hand side you will see an image listing: Status, Photo/Video, Offer, Event +
2. Click Offer, Event +
3. A dialog box will open. Click Offer. (This area also has other tools such as Event, Milestone, Question aka Polls).
Photo Credit: SocialMediaToday.com
4. A new dialog box will open and here’s where we start to get down to business
Make the Offer
5. Upload an Image – the image should be clean and uncluttered. A simple close up of the item is all that’s needed.
6. Write a Headline – keep it simple and strong. This is the call to action and what will get people in your door.
7. Limit the Number of Offers People Can Claim – two thoughts here; create a large number. This leads people to believe you need a large amount to meet demand or use a small number to create scarcity and urgency. You decide.
8. Set an Expiration Date for your offer – simple enough.
9. Add your Terms and Conditions – 1 per person, 1 per day, 1 per table, cannot be combined with other offers. Whatever is appropriate for your situation.
Example Offer
Here is one I made for a client. It contains a simple image, a strong headline. I like to start my headline with FREE when I can. I also like my headlines to be as simple as possible for clarity. I listed the number of free items, when the offer expires and the term.
At this stage if everything looks OK click the preview button.
Photo Credit: SocialMediaToday.com
Fans Redeem the Offer
Photo Credit: SocialMediaToday.com
When your fans click on “Get Offer” and redeem your fantastic offer they will receive a message and an email. They then have the option to print the email or take their smart phone into your venue and show the staff the redemption message.
Where to Promote
Where should you promote your offer? The answer is everywhere you can! Create a status about it on Facebook, tweet your followers on Twitter, share it through an email, post it to your website, and add it to your in-store promotional materials!
It may sound strange to offer a special once the customer is in the store but just because they are in the store doesn’t necessarily mean they ‘Like’ you on Facebook. On promotional materials, add a message that encourages readers to “Like Us on Facebook” and you may get a new fan.
Bronco Bookstore Generates Excitement with Grad Fair Games
May 14th
In an effort to increase attendance at his store’s Graduation Fair, Clint Aase, director of Bronco Bookstore at California State Polytechnic University, Pomona, began to think of new ways to advertise the event to students.
Students attempted to throw a hulahoop over a mannequin in Grad Hoopla.
“In the past, we’ve sent emails and hung up posters, but we still had students tell us that they hadn’t heard about it,” he explained. “I realized it was time to find a different way to draw attention to the event that would ensure they saw our message.”
Aase and his staff then came up with a set of fun and interactive games to increase students’ awareness. Beginning two weeks before the event, they hosted the graduation-themed activities across campus.
For instance, they dressed a mannequin in a cap and gown and encouraged students to try to throw a hulahoop over it from a distance. Cleverly called ‘Grad Hoopla,’ the game was held outdoors and attracted student passersby who played for the chance to win prizes.
The store also set up Grad Pong, where students attempted to toss a ping pong ball into a formation of cups.
Grad Pong attracted lots of participants!
“They loved it,” he explained. “It definitely showed students the fun side of our store. As they played, we let them know what our Grad Fair is and when it is held; unlike a poster, this message came through loud and clear!”
As an additional way to promote the event, student employees dressed in full regalia and visited highly-populated areas of campus to hand out flyers with information on Grad Fair.
“That was definitely the approach that most impacted attendance,” he said. “Students couldn’t help but take notice of their peers wearing a cap and gown in the middle of the cafeteria or student union; it really helped to spread the word.”
The activity that was most popular with students, however, was the store’s spirited photo booth that allowed them to take pictures with the school’s mascot, Billy Bronco.
“We made 20-30 different signs with graduation-related phrases such as ‘Thanks, Mom!’ or ‘I’ll Miss CPP!’ and gave students the option to choose the one that they wanted to include in their picture,” he described. “After they posed for a photo, we emailed the image to them as a keepsake; we took over 200 pictures, so it was really popular!”
The store created 20-30 unique signs and let students choose which to pose with.
After implementing their new advertising strategy, the store saw a significant increase in attendance at their Grad Fair, making it more than worth the effort!
“Grad Fair 2012 was a huge success and students had a blast,” he said. “We’re definitely going to continue the Grad Fair Games in the future. We’ll plan to mix up the activities to keep it interesting, but we’ve found that it’s a great way to generate excitement!”
Facebook Timeline Changed the Way We See Brand Pages
May 11th
It's easy to see that fans focused heavily on the Cover Photo in the Timeline layout.
When Facebook launched Timeline for brands last month, it wasn’t just marketers’ social media strategies that got turned upside down.
The new format also changed the way consumers experience brands on Facebook.
In a webcam eye-tracking study for Mashable by EyeTrackShop, participants spent less time looking at Wall posts and ads and more time looking at the cover photo on brands’ timelines than they did on their old Facebook Walls.
“The new Facebook Timeline limits the effective branding space, and the top portion of the page must be effectively utilized,” suggest the study’s authors.
EyeTrackShop recorded eye movements of 30 participants as they were shown brand profiles — before and after being converted to timeline — from the Dallas Cowboys, Good Morning America, “The Muppets” and Pepsi in 10-second intervals. What participants looked at on each webpage, for how long and in what order is recorded in the images below.
Results suggests a few ways our perception of Brands on Facebook has changed:
- Ads on Facebook Timeline are less visible than ads on Facebook Brand Pages. While 30%-40% of study participants looked at ads on brand Timeline pages, 80% looked at them on Brand Pages. In both cases, ads placed higher up on the page fared better than those below them.
- Cover photos are the new Facebook Wall (at least as far as attention goes). On brand pages, Wall posts were the star attraction. Viewers on average looked at them first and for the longest amount of time.On the brand Timelines, however, viewers always looked at the cover photo first. In all but one case, they spent a longer time looking at it than at Timeline content.
- Everyone will notice your cover photo. It’s larger than anything else and at the top of the page for a reason, and 100% of viewers looked at it. On average, they saw it in 0.5 seconds or less. Meanwhile, only 65% to 92% of viewers noticed profile photos on Brand Pages.
- Viewers see Timeline content last. In every case, viewers looked at either the left or right column of Timeline content last — after ads, navigation buttons and brand logos.
- Information that was invisible is now a focal point.Facebook moved the number of Likes, events and apps to prime top-and-center territory. It now gets more attention than when it was listed on the right-hand side of the page.In the case of Good Morning America, for instance, the show’s 585,000 Likes went from being completely ignored on its Brand Page to being the biggest attention-getter on its Timeline.
- Cover photos with faces attract the most attention. Good Morning America and “The Muppets” have cover photos with faces, whereas the Dallas Cowboys and Pepsi do not. The cover photos with faces attracted more attention.
Still don’t have a cover photo? That’s okay, we have options for you! Take a look at the 16 Cover Photos we created just for college stores and choose your favorite. Even if you decide to design your own, just make sure you have something in place for Fans to focus on at the top of your page – it’s the best way to make a good first impression!
Share Your Input On Symposium 2012!
May 10th
With over 300 collegiate retail professionals in attendance, Symposium 2011 was a huge hit and this year’s event is sure to be no exception.
You may have read in your email that we’d like your input as we prepare for the 8th Annual MBS Systems Users’ Symposium. If you haven’t already, please share your feedback and suggestions with us in a brief survey. Click here to get started; it should take no more than 5 minutes!
We’re already excited for Symposium 2012 and we hope that you are too! In fact, Executive Vice President, David Henderson, would like to personally invite you to join us October 16-18; listen to his special message!
6 Management Lessons From The Duck Store’s Jim Williams
May 9th
The following article, written by Daniel W. Rasmus for FastCompany.com, offers excellent insight on succeeding in the collegiate retail industry from one of our longtime partners and friends, Jim Williams, manager of The Duck Store. Congratulations on your upcoming retirement, Jim, from all of us at MBS!
I recently had an opportunity to sit down with Jim Williams, the soon-to-retire manager of Oregon’s The Duck Store, to discuss what he has learned about management during his 36-year relationship with The Duck Store. Although The Duck Store, like all college stores, sits at the evolutionary vortex of retail, education, and content, Williams doesn’t believe the future of college stores or retail will be driven by technology, but by service.
Williams is only the third manager to nurture The Duck Store over its 92-year history. At $42 million in revenue and a staff that varies seasonally between 300 and 350 people, The Duck Store is not a minor operation. And in all of its locations, the mantra of Ducks serving Ducks is reinforced by practices built on respect, leadership, and empowerment. Here are six lessons that embody those traits.
Lesson One: Reflective Learning
The Duck Store is part of a learning institution. Williams and his team don’t just hire people to stand behind counters or help locate merchandize. They hire people who know about their topics.
The Digital Duck, which exists through a wide corridor just off the main floor of the Eugene store, sells all things digital, from tablets and laptops, to mice and memory. The people who sell them know the difference between i3 and i7 Intel processors, as well as which programs tend to Mac and which ones to PC.
In the basement, the Creative Duck offer supplies for art students and designers, sold not by clerks, but by art students and designers who not only know which aisle houses the paint brushes, but which paint brushes are best for the project you are about to undertake.
For retailers to be relevant, they need to differentiate themselves on the knowledge they provide, not just the products they offer.
Lesson Two: Orchestration
With talented individuals, not just workers or employees in his care, Williams perceives his General Manager role as one of orchestration, not management. He fancies himself a conductor of bright, dedicated musicians, all specialists in their fields.
Organizations that want to retain high-quality retail talent need to think about creating a respectful, learning environment where management is focused on outcomes, not output.
Lesson Three: Rapid Innovation
Because of this environment, new innovations at The Duck Store can be turned around in as little as one hour. One recent example was a viral video featuring the Oregon Duck. The video was developed by student to promote Oregon’s 2010 Rose Bowl run (I Love My Ducks). As the only licensed Disney character outside of the Disney cannon, using the Oregon Duck for anything comes with some strings. Williams and his team got involved, creatively transforming the video from a random post into the promotion for an “I Love My Ducks” line. The store worked with students, their attorney, and the store to create what Williams calls a win-win-win-win (students, Duck Store-university, and Duck fans) situation. The contract, executed from idea to a handwritten agreement scrawled on a blank piece of paper, took 30 minutes and lead to the sale of over 90,000 shirts and an exclusive deal to sell other merchandise derived from the “I Love My Ducks” theme.
Innovation also means adapting to change. If college stores are to survive, Williams asserts, they need to build strong relationships with all constituencies: students, parents, alumni. Those they see in the store and those that they encounter on the web through their online retail arm. It is through these relationships that resiliency overcomes technical change. As long as you serve people, you can deliver that service through whatever channels evolve.
Other organizations would still be quaking about why they couldn’t do something in the first 30 minutes of an innovation discussion. Williams becomes a bit Yoda-like as he says: “We don’t ask if we can, we figure out how we will.”
Lesson Four: Drive Fearless Service from the Floor
Executives may see customers, and they interact with employees, but they aren’t the front line. At The Duck Store, the front line drives customer perception, and management knows that, so that front line also drives the perception of management.
Bottom-up reviews effectively invert the organization so the store’s learning derives from those closest to the customers. And even the newest employee knows he or she can act fearlessly in service to the customer. The review process gives managers direct feedback about respect, communication, participation, and mentoring–managers are evaluated by how fearless their employees feel around them.
Lesson Five: Be a destination
At the corner of 13th and Kincaid, across the street from a main University of Oregon pedestrian entrance, The Duck Store is a fixture in the community. A large part of its success comes from being close to campus, but that wouldn’t mean anything if it wasn’t integrated into the lifestyle of the students. When families visit, seeing the dorms makes their sons or daughters college experience real, and eating in one of the many campus eateries engenders a nostalgic experience. But parents spend hours in The Duck Store. In some ways, that’s where the real campus orientation takes place, as the green and yellow somehow osmotically seeps into one’s skin.
Retailers need to recognize that people don’t just come to shop, they come to experience.
Lesson Six: Ownership
Being in control of one’s own destiny is a good lesson. Many college stores remain captive, sometimes outsourced arms of the central campus. Not so at The Duck Store, which has been owned independently by faculty, students, and staff since 1920, when it was acquired from a local pharmacy owner after being sold to school to finance Oregon’s 1918 Rose Bowl berth. Ownership allows the store to create its own culture while supporting the needs of the college and the community. And while public institutions of higher learning struggle to maintain learning excellence amid shrinking budgets, The Duck Store can stay above any issues facing Oregon. The store has no long-term debt and owns its buildings (expect where it leases satellite operations in retail areas around the state). Ownership means self-determination.
36 Years of Learning
Williams sees service at the core of his philosophy and his experience. He harkens back to January 1969, the day before he was to leave to serve in the Vietnam War–a day filled with snow and delays. He had already said his goodbyes to colleagues and friends and readied himself to head off to boot camp. But the snow delayed that trip. And when the phone rang, Williams unquestioningly answered the call to remove the three feet of snow weighing down the roof of the iconic corner store.
The college store is changing, and rather than sit back and complain, waiting for technology and business models to roll over them, The Duck Store leads change rather than resisting it. They are currently exploring expansion plans that include a state-of-the-art retail location as well as a hotel with extended food services to complement their already cozy coffee corner. And as more retail moves online, The Duck Store is prepared to complement their physical location with state-of-the-art e-commerce tools and effective Internet marketing.
All of the strategic concerns of the college bookstore store industry seem less daunting if you decide that the answer lies in creating a caring culture that adapts, not by overthinking the future, but by paying attention to the present. It won’t matter to The Duck Store if the Kindle surpasses the iPad, if e-books become as easily bootlegged as MP3 songs, or if open-source courseware predominates. Whatever products, technology, or channels evolve, The Duck Store will unflinchingly apply its management principals and find a way to cloak the future in its own unique veneer of yellow and green.
Watch an interview with Williams conducted by the Oregon Daily Emerald here.
Are Your Prices Too Complicated?
May 8th
The following article, Are Your Prices Too Complicated?, was written by Minda Zetlin Co-author of The Geek Gap and published on Inc.com.
Sometimes customers don’t need lower prices—they just need prices they can easily understand.
That’s a lesson Brian Altomare, brand manager and co-founder of LugLess learned recently. He started out with a company called MadTravelers that shipped and stored college students’ belongings under the brands BoxMyDorm and Ship2School. It was a solid business, though obviously highly seasonal.
A new opportunity
Then, in 2007, airlines began charging for the privilege of traveling with luggage, and Altomare saw an opportunity to branch out. Since 2001, companies had sprung up to transport travelers’ bags to and from their destinations, reducing the hassle of travel in a post-9/11 world. But this was considered a luxury service, and the firms that offered it charged luxury prices. Altomare knew he could charge less and even undercut the airlines themselves in certain situations. And his service would have a lot more appeal. “Travelers are schlepping bags to the airport and then paying the airlines to carry them,” he says. Instead, they could use LugLess, launched in 2009, to have their bags transported from door to door, saving the 15 to 20 minutes it typically takes to retrieve one’s luggage from baggage claim.
But for how much? MadTravelers uses Federal Express, UPS, and many local courier services to transport students’ belongings. These shippers charge by weight, and so do BoxMyDorm and Ship2School. It seemed logical for LugLess to do the same. “We started out with a simple algorithm for what our rates were with major couriers, where we could still run the business profitably,” Altomare says.
Why it didn’t work
But paying by the pound didn’t seem logical to travelers accustomed to a flat fee for airline baggage. “We were seeing a lot of site traffic but not a lot of orders,” he recalls.
So about a year ago, LugLess switched to a simple three-level pricing system: Within the continental United States it costs $39 to ship a small bag, $59 for a standard bag, and $79 to $89 for things like skis or golf clubs. The goal, Altomare says, was to set prices at a level where the company would still make an overall profit shipping luggage, even though some of the longest trips might not be very profitable.
The new pricing did the trick. “Traffic stayed the same but orders increased,” Altomare reports.
Simplicity sells
There was an added benefit: “People stopped calling up and asking all these questions about our per-pound pricing, or what if it’s a pound over?” he says. Since the company’s No. 1 cost center is customer service, this added directly to the bottom line.
The lowest price of $39 is somewhat higher than the $25 or so that airlines typically charge for a first or second bag. But it’s lower than the $50 or more airlines often charge per bag for travelers with more than two bags. As prices for additional bags go up, LugLess becomes a less expensive option. And many customers are willing to pay extra to avoid dragging their luggage to and from airports.
And the pricing picture is about to get better. LugLess will be lowering its prices in the next few months probably by $10 or more. Simplified pricing led to more orders and higher volume with LugLess’ shipping partners. That, in turn, has led to a more generous volume discount. It’s also helping to build revenue: LugLess is on track to bring in $500,000 this year and about $1 million next year, with projected revenues of $10 to $30 million as the service gets more established, Altomare says.
Volume should continue to grow, since those who use the service typically become repeat customers, he adds. “Once you use us once, you use us for the rest of the year.”
The same pricing dilemma often applies to college store’s main commodity: textbooks. Not understanding that a price is derived from publishers, students see only a steep price tag and attribute its cost as the store’s revenue, creating a negative perception. As a result, they often turn to online retailers, without realizing the added costs associated with the purchase including shipping, risk of loss, and inconvenience.
For this reason, it’s important for college stores to take the time to educate students on each of these myths. Services such as price comparison and dynamic pricing can both assist in adding transparency to your pricing practices and showing how competitive your offerings really are. In addition, consider creating marketing materials that explain these issues to students in a simple and straightforward way.
By helping them learn how textbooks costs are calculated, students will be more likely to adjust their perceptions and choose the college store over other options.
Andrews University Bookstore Boosts On-Time Adoptions by 30%
May 7th
In an effort to create a better working relationship with the faculty on campus, Cindy Swanson, Textbook Manager at Andrews University Bookstore, began looking for ways to both educate them on adoptions as well as recognize them for their contributions on campus.
Faculty are asked to sign-in to the event for the chance to win door prizes.
“I wanted to make them feel special,” she explained. “Everything on campus centers around students, so I think it’s important for our store to take the time to focus on all that the faculty does, as well.”
To accomplish that goal, Cindy and her staff decided to host a Faculty Appreciation event and, since its inception three years ago, it’s been a tremendous success!
“We hold an open house every Spring typically from 10am-12pm, which is long enough that most professors are able to find a break in their schedule to attend,” Swanson said. “It’s a very casual atmosphere, which makes everyone feel welcome.”
To spread the word, Swanson takes advantage of MBS’ Focus on Faculty materials, including invitations and adoption deadline reminders.
Nearly all of the food provided is homemade, thanks to Swanson's dedicated efforts.
“They take care of all the printing and customization, which makes it much easier for us!” she added.
As faculty enter the event, they’re asked to sign-in for a chance to win door prizes and are often given a freebie just for stopping by.
“Everyone typically leaves with a door prize, most of which are donated by our vendors, and then we use registration to select a grand prize winner,” Swanson described. “That person is given a $50 gift certificate to the store to use toward whatever merchandise they’d like.”
Going above and beyond, Swanson also makes all of the refreshments for the event by herself!
“We’re a vegetarian campus, so I try to stick with that guideline for all of my appetizers and desserts,” she added. “It can be a difficult task, but I enjoy it, and I know our faculty members do too!”
At the end of the food table, Swanson sets up an informational area with handouts on everything from how online buyback works to the importance of their One Planets Books program.
“It’s a great time to provide information on how both adoptions and buyback work because you have a captive audience,” she said. “Everyone seems more apt to ask questions because it’s a no-pressure environment.”
Faculty have the chance to mingle both with store staff and MBS Representatives throughout the two-hour event.
Throughout the open house, faculty have a chance to mingle with store staff as well as the store’s MBS Representatives.
“A lot of my interaction with faculty is over the phone or by email, so it’s so nice to be able to be able to put a face to a name,” Swanson explained. “It’s great to have our MBS Reps there to field questions, too. It really enhances the communication.”
Swanson isn’t the only one who enjoys the event, though. Faculty have provided nothing but positive feedback, as well!
“It’s our third year now, and attendance has certainly grown,” she said. “Out of the 250 professors on campus, nearly half attended this year. They definitely look forward to it!”
Best of all, the store has seen the success of their Faculty Appreciation event reflected in their on-time adoption rate.
“We’ve seen an increase of approximately 30%!” Swanson described. “It’s been great!”
How do you engage with faculty? Share your experiences and ideas in the comments section below!
Ensure Your Store Doesn’t Become a Showroom
May 4th
The following article, 5 Ways to Fend Off ‘Showrooming’, was written by Jon Bird for New Retail Blog.
Digital Shoplifting. Showrooming. Whatever you call it, it’s disheartening and damaging when shoppers use your store to check things out, suck your salespeople for knowledge, then whip out their smart phones and buy their selection at a better price on the net. In an age where the customer is in control (and loving it), showrooming is not going to go away. In fact, according to the Wall Street Journal (WSJ), “half of shoppers who buy products online first checked them out in a traditional store”.
So…deal with it.
But how?
Here are five strategies for overcoming one of the greatest threats to retail today:
- Sell different stuff. First and most obvious, ensure that you stock well-differentiated merchandise. Push suppliers to offer you more exclusives. Develop your private label offer. Avoid comparison at all costs.
- Level the playing field. Sure it’s tough to match Amazon. But you’d better get darn close. My guess is that you can only expect a 10-20% premium over an e-commerce competitor at most. And make sure that your own online prices match your store prices. As much as possible, take price differences out of the equation.
- Point your customers online. As reported in the WSJ last week, Walmart is now encouraging its sales associates to refer customers to Walmart.com if they can’t find what they’re looking for in store. More and more retailers have terminals or iPads at the ready dedicated to capturing the sale on their own site if it’s not possible to convert customers at the cash register.
- Improve your ‘click and collect’. Not every customer wants to wait for a purchase to be shipped to him from an online retailer. You can play to that urge by dedicating space in store to ‘click and collect’ – pick up purchases made on your website.
- Change the pricing model. In its letter to vendors, Target outlined that it was considering ‘subscription pricing’. The idea is to give customers bonuses if they agree to a regular purchase. (Newspapers, magazines, book clubs, cable TV and Foxtel all utilize the subscription model.) Amazon already has in place a ‘Subscribe & Save’ program, where shoppers enjoy automatic replenishment of basics (like paper towels and detergent), discounts, free shipping and an option to cancel anytime.
While it’s not going to work for all retailers, the “lock ‘em in or lose ‘em” approach of Strategy #5 has some merit. And you can utilize the same philosophy by building a great loyalty program that raises the barrier to exit to customers tempted to stray to an online opponent.
Treat the five strategies above as thought-starters. And get your plan in place to keep your customers within your four walls.
MBS has a solution in place to help you achieve each of these five suggestions. From price comparison tools to a Mobile Point of Sale that can help you more efficiently pick online orders, we’re here to help you stay competitive. Talk with your MBS Representative about how your store can stay away from showroom status!