Business Improvement District
A Business Improvement District (BID) is an aggregation of retailers and shops, that try to answer to the growth and diffusion of the Malls, usually sited outside of the city center.
Instead, a BID aggregates the shops sited in the city center, or in a specific quarter, or in a street; while remaining single and independent entities these retailers gather together in order to activate commercial and marketing strategies, aiming at bringing back the people to shop in the city, at the open air and -probably- in a more human and traditional way compared to how they shop in the malls, always indoor, with constant music and without any human relation between retailer and customer.
BIDs diffusion has recently boosted and they are by now a known reality, which does not have to be an exclusive alternative to the traditional malls; they can both develop at the same time in different contexts.
On one side
- lower prices
- purchasing environment not affected by the weather
- opening hours almost at 24/7/365
On the other
- shopping in relax
- open air
- assistance and human relation with the retailers
Both systems can coexist and solve conflicting problems, provided that the BID manages to activate those customer retention mechanisms that the marketing force of the traditional malls can easily exploit:
- Loyalty card
- Flyer offers
- Discounts&Promotions in real time
Likella is the best answer to this challenge because it does not only use the same IT technologies exploited by the traditional malls, but it also takes advantage of other instruments and reduces the cost for a BID to almost zero.
Attention: Likella enables the BID to attack the traditional mall, like David against Goliath.
Likella enables (in brackets what the malls do):
- Virtual and physical Loyalty Cards (physical Loyalty Cards)
- News on the BID's virtual wall or on those ones of the single shops (Flyer offers)
- News and promotions by e-mail or SMS
For example, with Likella it is possible, at the same time, to differentiate the marketing activities, each shop with its own discounts and point collection (individuality), and to collaborate all together participating to a "reward program" for all the customers (aggregation of common interest). In this way the customer receives:
- Discounts or rewards from the single shop
- Rewards from the BID
- News and promotions from the single retailer
- News, promotions and events from the BID community
do you still think it is not enough ??
Likella activates 2 more levels for the BID
- BID - basic association
The association only sends news and invitations to events -> low managing costs, but with a loyalty card of the BID
- BID - evolved association
The association governs the BID community recommending forms and methods of marketing
in both cases, the HW & SW costs using Likella are extremely low: just a small monthly subscription (for the association) of few euros -> see Likella Store
TAG: business improvement district, traditional mall, shops, rewards, loyalty card