Posts Tagged ‘Retail Marketing’

SANTA’S GREATEST RETAIL SECRET

Tuesday, October 13th, 2009

We’re all willing to believe in Santa Claus, but a world in which Wal-Mart and Target share a web site together would be truly incredible. Unlike the big discount stores, small retailers are doing exactly that. They’ve discovered Santa Claus’ greatest secret: if you help one another and have fun doing it, the whole world will welcome you.

Small retailers are marketing side-by-side with their competitors on joint websites. And they’re helping consumers rediscover the fun in local retail shopping.

Tracy Keating is the owner of Life Is Sweet, a candy store in Keene, New Hampshire. She is one of the drivers behind www.keenelocal.com, a website that encourages consumers to stimulate economic growth, create jobs, protect the environment and preserve their community by buying local with just 10% of the money they spend. The site makes the initiative fun, with T-shirts and stickers. It also makes buying locally easy, listing businesses by name and individual website address. Several restaurants, several jewelry stores and two candy stores share the site, among others. Why would Tracy help create and support a site that welcomes her competitor?

“Competition is not an issue,” she says. “Once you elevate one business downtown, it benefits all of downtown. We tell people, if you plan to spend $100 out and about, spend $10 of it locally. That money stays in the community and actually triples, and we all benefit.”

In the nearby town of Peterborough, the restaurants and shops of Depot Square also have a cooperative website (www.depotsquarepeterborough.com). It includes a calendar of entertaining special events, a raffle and an e-newsletter along with a page for each store, restaurant and gallery in the square, plus links to individual websites. The handsome site was designed by one of the businesses in the square, C.C. Stephens & Co., making it home-grown in every sense.

In another approach to competing with the major discounters, Roger Weinrich of Good Fortune has taken a closer look at why consumers are attracted to malls and big stores. “They’re fun,” he says, “because you can walk around like you’re in an amusement park.” Roger and his staff decided they would create that same atmosphere for their customers. From the ice cream freezer at the front of the store to the ping-pong table in the alcove, Good Fortune encourages visitors to have a good time. “We charge $5 to play ping pong,” he explains, “and we donate the money to the community kitchen. It’s a great draw in winter. We also have a Diamond Mine. We fill a container with sand and put loose diamonds in it and every Saturday customers get a chance to scoop up one pile to find a diamond. We’re experimenting with promotions a month at a time. Some of what we do is risky; we don’t know what will happen. But it’s all fun.”

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Retailer’s Top Concerns & What They’re Doing About Them

Wednesday, October 7th, 2009

Bags and Bows and its parent company, Deluxe, recently surveyed Retailers to understand what’s keeping them up at night about their business. We also asked what they plan to do about their concerns. Read on to learn retailer’s key business challenges and especially if you want to know what marketing strategies they plan to deploy.

What is not surprising are Retailer’s top business challenges. Clearly, surviving the economic downturn is the #1 concern, followed closely by finding new customers. It makes sense. The news is filled with stories about Retailers struggling – even large, national chains that are household names are hurting and cautiously giving earnings guidance to Wall Street. If the big league retail players are hurting, you know Main Street is especially feeling the pain.

Taxes are also a top concern. This trumps concern with retaining customers. The threat of tax increases is very real at all levels of government, but should this top being concerned with retaining customers? I’m puzzled as I visit so many independent retailers and they don’t have a business card, a place to leave your information, etc i.e. a way for your to remember them and visa versa. This is such low hanging fruit for Retailers. I’ll give you an example. I recently stopped by a very cool, specialty coffee house in a trendy area of NYC. I, for once, didn’t want a cup of coffee at that moment, but was drawn into the store to look around and enjoy the atmosphere. The coffee house was located in an area I don’t visit often, so I wanted a business card so I would remember them. They didn’t have one and now the name of that coffee house is long gone from my memory.

Finding and keeping employees is not a huge concern – it didn’t even rank in the Top 5. This has traditionally been a top struggle but is probably muted by the fact that there are a large number of talented folks for hire. If you’re a smart retailer, you’re looking for good candidates now – there are a lot of experienced and mature folks out there. Hire them and reap the dividends from having a reliable employee.

So, if retailer’s top concerns are the economy, finding new customers, and taxes, what are they doing about them? I’ll give you a hint – they’re not waiting for the economy to improve – they’re taking action. Retailers understand how critical it is to get their name out there. Especially the independent retailer, who has to raise their voice above the chorus of the big box retailer. One of the top tactics retailers are increasingly doing is monitoring you, the competition. That’s right – you’re being watched by fellow retailers. They’re also increasing their visibility by leveraging signage, as well as holding periodic sales. Many are leveraging sales to keep their name top of mind with existing customers as well as giving new customers a reason to stop by.

They’re also out looking for new customers. Where are they finding them? Referrals from existing customers and vendors are top sources. More and more retailers are also embracing ecommerce and using email to connect with potential customers. Although most of them have a website, keeping it updated and search engine friendly is a concern. And a significant number of them are building a database of customers.

So, lots of action to address their concerns. What is the common thread? These tactics are all easy to implement and inexpensive.

If you’re a retailer reading this blog as we enter the holiday selling season, you know you need to get your name out there now. Think about what your competitors are doing. Ask yourself how potential customers know about your business. How are can they find you? What are you doing to retain existing customers and find that great new salesperson? The economy is on everyone’s mind, but it is by and large out of our control. What is in our control is how we proactively respond to it.

Are you facing similar business challenges? Or are you facing completely unique ones? What are you doing about them? Please share – we would enjoy hearing from you.

Want to learn more? Have comments? Contact Mike at michael.benedict@deluxe.com