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MEDC REI Prez

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by

Ryan OToole

on 14 December 2012

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Transcript of MEDC REI Prez

REI Company Profile History
Mission
Sales and Marketing Channels
Management Team Founded 1938
Structured as a consumer co-op with 4.7 million members
11,000 employees
Headquarters in Kent, WA
Distribution centers in WA, PA
120 retail stores in U.S.
Online presence: REI primary site, REI Outlet and REI Travel sites
REI Social media presence: Facebook, Twitter, YouTube and Flickr REI Quick Facts Cooperative: noun
A jointly owned enterprise engaging in the production or distribution of goods or the supplying of services, operated by its members for their mutual benefit, typically organized by consumers or farmers.
 
Source: Dictionary.com REI Structure REI Company Profile History
Mission
Sales and Marketing Channels
Management Team We inspire, educate and outfit for a lifetime of outdoor adventure and stewardship REI Mission Statement REI Company Profile History
Mission
Sales and Marketing Channels
Management Team REI Company Profile History
Mission
Sales and Marketing Channels
Management Team Ex. VP & COO
Brian Unmacht CEO
Sally Jewell REI Current Strategy Co-op structure and membership program
Employees
Lifetime guarantee on products sold
Other differentiating strengths *According to REI's bylaws, an active member is someone who joined the co-op or an existing member that spent at least $10 during the year. Numbers rounded to nearest hundred.
 
Source: "Stewardship Report: Quick Facts about REI." Web Page. Recreational Equipment, Inc. (REI). 14 Mar. 2012. Web. 07 Nov. 2012. < http://www.rei.com/stewardship/report/2011/our-commitment/quick-facts.html >. Active REI Members* Co-op structure and membership program REI Current Strategy Annual Dividend
Voting rights
No receipt returns
Exclusive deals and event invitations
Rental and travel discounts REI Current Strategy Co-op structure and membership program
Employees
Lifetime guarantee on products sold
Other differentiating strengths REI Current Strategy Co-op structure and membership program
Employees
Lifetime guarantee on products sold
Other differentiating strengths REI Current Strategy Co-op structure and membership program
Employees
Lifetime guarantee on products sold
Other differentiating strengths REI Current Strategy Other differentiating strengths
On-site clinics and events
REI affiliate program
REI Adventures
REI is green
REI practices fair trade REI Target Market Demographic
Geographic
Psychographic Source: "2012 Outdoor Recreation Participation Topline Report." Report. The Outdoor Foundation. Web. 06 Nov. 2012. < http://www.outdoorfoundation.org/pdf/ResearchParticipation2012.pdf >. Marital Status in Outdoor Participants
Outdoor Participants Ages 18+ REI Target Market Demographic
Geographic
Psychographic REI Target Market Demographic
Geographic
Psychographic Market Conditions General Economic Conditions
Industry Economic Conditions
REI recent profits and sales trends Market Conditions General Economic Conditions
Industry Economic Conditions
REI recent profits and sales trends Source: "2012 Outdoor Recreation Participation Topline Report." Report. The Outdoor Foundation.
Web. 06 Nov. 2012. < http://www.outdoorfoundation.org/pdf/ResearchParticipation2012.pdf >
; Bureau of Economic Analysis, Personal Consumption Expenditures by Type of Product, based on available 2010 data. Annual Consumer Spending by Sector
In Billions Source: "2012 Outdoor Recreation Participation Topline Report." Report. The Outdoor Foundation. Web. 06 Nov. 2012. < http://www.outdoorfoundation.org/pdf/ResearchParticipation2012.pdf>
; Bureau of Economic Analysis, Personal Consumption Expenditures by Type of Product, based on available 2010 data. Outdoor Recreation Expenditure Split
In Billions Market Conditions General Economic Conditions
Industry Economic Conditions
REI recent profits and sales trends Source: "Stewardship Report: Quick Facts about REI." Web Page. Recreational Equipment, Inc. (REI). 14 Mar. 2012. Web. 07 Nov. 2012. <http://www.rei.com/stewardship/report/2011/our-commitment/quick-facts.html >. REI Annual Sales
In Thousands Source: "2011 Earnings News Release." Report. Recreational Equipment, Inc. (REI). 14 Mar. 2012. Web. 07 Nov. 2012. < http://www.rei.com/about-rei/newsroom/2012/rei-
Announces-2011-revenues-and-new-member-growth.html >. REI Sales Split Discretionary income is tight for consumers in the U.S., but the outdoor recreation industry and outdoor recreation participation continues to thrive. Challenges and Opportunities CEO Sally Jewell has identified employees as the key differentiator for the REI brand. Challenges and Opportunities Objective one: Position REI to capture more market share via online sales REI 2013 Objectives Objective one: Position REI to capture more market share via online sales

Goal: Increase the number of online memberships sold in 2013 by 3 percent to a total of a 6 percent increase year-over-year versus 2012 REI 2013 Objectives Objective one: Position REI to capture more market share via online sales

Goal: Increase the number of online memberships sold in 2013 by 3 percent to a total of a 6 percent increase year-over-year versus 2012

Strategies:
Member-only sale items
“Friends and family" discount coupon
Free shipping on returns
Virtual store/Virtual Sale Ap
Trail Talk Forum
Garage Sale
Beta Crew REI 2013 Objectives Objective two: Position REI to capture more market share via family-oriented products using focused market and promotional programs REI 2013 Objectives Objective two: Position REI to capture more market share via family-oriented products using focused market and promotional programs

Goal: Increase family-oriented product efforts through in-store and online branding and via marketing (e.g., printed ads) within our direct mail program and advertising circulars 10 percent over 2012 products in the same category (in store and online promotions combined.) REI 2013 Objectives Objective two: Position REI to capture more market share via family-oriented products using focused market and promotional programs

Goal: Increase family-oriented product efforts through in-store and online branding and via marketing (e.g., printed ads) within our direct mail program and advertising circulars 10 percent over 2012 products in the same category (in store and online promotions combined.)

Strategies:
REI Kids
First Camp
Trail Talk Family Forum
REI Travels REI 2013 Objectives Objective three: Improve employee retention and acquisition efforts REI 2013 Objectives Objective three: Improve employee retention and acquisition efforts

Goal: Company-wide retention rate increase of 1% in 2013; Turnover rate decrease of 1% in 2013; Increate in total engagement measure REI 2013 Objectives *Annual turnover percentage rate is calculated by dividing terminations (voluntary and involuntary) in a particular year by average headcount across all months of that year.

Source: "Stewardship Report: Employee Engagement and Retention." Web Page. Recreational Equipment, Inc. (REI). 14 Mar. 2012. Web Page. 07 Nov. 2012. <http://www.rei.com/stewardship/report/2011/workplace/employee-engagement-retention.html >. REI Employee Headcount *Annual turnover percentage rate is calculated by dividing terminations (voluntary and involuntary) in a particular year by average headcount across all months of that year.

Source: "Stewardship Report: Employee Engagement and Retention." Web Page. Recreational Equipment, Inc. (REI). 14 Mar. 2012. Web Page. 07 Nov. 2012. <http://www.rei.com/stewardship/report/2011/workplace/employee-engagement-retention.html >. REI Employee Turnover Rate* Objective three: Improve employee retention and acquisition efforts

Goal: Company-wide retention rate increase of 1% in 2013; Turnover rate decrease of 1% in 2013; Increate in total engagement measure

Tactics
Automatic membership and anniversary credit
Beta Crew
Employee referrals
Online moderator program
Survey REI 2013 Objectives Competition includes both brick and mortar and online outdoor equipment and clothing retailers
Direct competitors
LL Bean
Sports Authority
Bass Pro
Campmor.com
Dick’s
Gander Mountain
Cabela’s Relevant Competition Competition includes both brick and mortar and online outdoor equipment and clothing retailers
Smaller specialty stores that sell specific outdoor products in relation to their location (e.g., canoe shops, outfitters, etc.) Relevant Competition Competition includes both brick and mortar and online outdoor equipment and clothing retailers
Competitors as customers
The North Face
Patagonia
Columbia Sportswear
Coleman Relevant Competition Segmentation of internal target market
-Increased communication of business objectives
-Employee engagement survey
Strategic Methods of Internal Communication Plan Integration into Company Return on Investment (ROI) Position REI to capture more market share via online sales
Representations of consumer acceptance and advocacy of brand
Media consumer conversion
Lead types resulting in conversions Return on Investment (ROI) Position REI to capture more market share via family-oriented products using focused market and promotional programs
-Marketing mix model
-Audience metrics-Engagement metrics
-Monetary metrics Return on Investment (ROI) Improve Employee Retention and Acquisition Efforts
Strategic accountability
Employee engagement survey
Measuring and monitoring of turnover Source: Phillips, Patti P., and Jack J. Phillips. “Measuring ROI on Employee Retention.” Southeast Corridor Bank (n.d.): 1-21. Web. 24 Nov. 2012. Measuring and monitoring turnover Key Differentiators

Membership program
Employees as competitive advantage
Life-time guarantee on products sold Conclusion Challenge/Opportunity

Discretionary income is tight, but the industry and participation numbers are growing.

Find outdoor product customers that are already out there. REI online sales make up only 20% of total sales. Conclusion Objective one: Position REI to capture more market share via online sales

Goal: Increase the number of online memberships sold in 2013 by 3 percent to a total of a 6 percent increase year-over-year versus 2012

Strategies:
Member-only sale items
“Friends and family" discount coupon
Free shipping on returns
Virtual store/Virtual Sale Ap
Trail Talk Forum
Garage Sale
Beta Crew REI 2013 Objectives Objective two: Position REI to capture more market share via family-oriented products using focused market and promotional programs

Goal: Increase family-oriented product efforts through in-store and online branding and via marketing (e.g., printed ads) within our direct mail program and advertising circulars 10 percent over 2012 products in the same category (in store and online promotions combined.)

Strategies:
REI Kids
First Camp
Trail Talk Family Forum
REI Travels REI 2013 Objectives Challenge/Opportunity

CEO Sally Jewell has identified employees as the key differentiator for the REI brand, but retention is most challenging during difficult economic times.
 
Retain employees. Find like-minded individuals as employment candidates. Conclusion Objective three: Improve employee retention and acquisition efforts

Goal: Company-wide retention rate increase of 1% in 2013; Turnover rate decrease of 1% in 2013; Increate in total engagement measure

Strategy:
Automatic membership and anniversary credit
Beta Crew
Make It Right (MIR)
Employee referrals
Online moderator program
Survey REI 2013 Objectives Ongoing research to analyze and aggregate
various data.
Results to influence future campaign direction. Research Methods Objective one, Position REI to capture more market share via online sales, Enterprise Class Google Analytics suite
Google’s Flow Visualization, and Goal Funnels
Attribution Modeling tool
Google Analytics for social media reporting Consistent analysis of our sales mix.
Quarterly focus group reporting. Objective two, Position REI to capture more market share via family oriented products using focused market and promotional programs. Gauging involvement in the updated benefits i.e.. Beta Crew, Employee Referral Program.
Conversion of automatic membership enrollment and anniversary credits to in store purchases. Our Third Objective, Improve employee retention and acquisition efforts Total Budget: $4.47 Million
More aggressive than REI typicalTly is.
Heaviest activity in Q1 + Q2.
Heavy social media focus in Q2. Budget Strategy "Roll-outs" to occur during Q-1 but we seek to continue engagement with our passionate consumers through ongoing and residual campaigns during Q-2 and Q-3.
Q-4 is reserved for putting all efforts toward promoting the more traditional pillars of our retail business including Labor
Day, Black Friday and the holiday shopping season

Tactics include in store signage and modular re-designs, various online medias, effective use
of the REI website, magazine and newspaper ad buys, and direct mail. Internal and External Marketing and Communications Plan Challenge/Opportunity

Discretionary income is tight, but the industry and participation numbers are growing.

Find outdoor product customers that are already out there. REI online sales make up only 20% of total sales. Conclusion
Full transcript