Promoting Your Store Through Local Shows
January 16, 2010 at 10:24 am | In Management, Marketing, Shows | 1 Comment | Get this via emailThe other day I was chatting with one of the very successful retail store owners on our advisory board, Patti Harbin of In-Courage, and I asked her about some of the strategies she uses to keep her business growing.
One new direction she started taking several years ago was to set up a booth at a local show (open to the public) that draws more than 30,000 people from a wide radius in Texas. At the show she sold thousands in products and was able to build her brand in the community. For months after, new customers stopped by the store and told her they shopped at her booth and wanted to check out her store.
Although the show is a lot of work, she reports it's definitely worth it.
Here are a few tips if you think a show may be right for you:
- Patti told me she researched the show and attended it the year before she set up her first booth. While there, she asked the other vendors for tips and if they would recommend the show.
- The first year, Patti stocked her booth with products that were supposed to go in her stores. She says, "That was a big mistake, so now I order separately for my booth and my stores." It left her empty in the store for some time until the replacement inventory arrived and that lowered her store sales.
- Make sure you have enough staff. Since the show that Patti does has a big volume of attendees, it requires five to six employees at all times to keep the lines moving, re-merchandise once products sell out and answer questions.
- Talk to show management and ask loads of questions (how many people do you anticipate, how long has the show been running, what products sell best, who are your top vendors, how do they market the show, etc.). In the second year, Patti asked the show management if she could become a sponsor and hand out bags imprinted with her store name and website. Now "everyone walks the show with an In-Courage bag and that also helps to build brand awareness."
What's great about doing shows is that it enables you to promote your store while bringing in extra revenue. It's like getting paid to market your store!
Tell the Product Story
January 15, 2010 at 10:31 am | In Marketing, Merchandising | Comments | Get this via emailI just chatted with a retailer who said she had a fantastic holiday season. After congratulating her, I asked about her top selling product. She told me it was a new product that she only added to the store in July, and she was thankful that she decided to bring it in, because at the time she was a little uncertain.
She went on to explain that the story behind the product was really fantastic and every time she personally told the story, the sell-through rate was very high. We went on to discuss how her store employees don't tell the stories behind the products because they don't know them—and/or because it's difficult to educate them on all the products in the store.
I started thinking that it would be a great idea to create small signs (4×6 or 5×7), using identical professional frames, and print the stories behind the products. That way you'll be educating your customers and your employees.
It's my guess you'll also increase your store sales at the same time.
Storefront Displays That Sell More
January 14, 2010 at 10:19 am | In Marketing, Merchandising, Tips | 3 Comments | Get this via emailLast week I walked by a store in the airport and was compelled to stop by a wonderful storefront display. I saw an attractive barrel with cute little cosmetic bags overflowing from it and a chalkboard sign that read, "Special Sale: $4 each, or 3 for $9." Since I do a lot of traveling (and I'm female!), little bags come in handy—plus, I loved the price.
Before I knew it, I had found three great patterns and shapes and walked over to check out another store display. Since I was already buying, my psychology switched from the mode of "just looking" to "is there anything else I need." I was out of lip balm, and ended up picking up a more expensive lip gloss than usual because I fell in love with the fragrance.
As I walked to my gate, I was intrigued by the psychology of the display and my response to it. I'm not even sure I would have gone into the store if it wasn't for the barrel, and once I made the commitment to buying, I went into shopping mode.
I encourage you to create an impactful display with products that are reasonably priced. Locate the display near the front door and tie the products into the time of year, or where you're located, or another angle that you think will attract customers.
Even if you don't have super high margins on that particular product (or you reduce your margins to encourage sell through) I think you'll be surprised at how many people buy that product—and more. You might consider testing various products and monitoring the results.
Make a YouTube Video at Your Store
January 13, 2010 at 10:24 am | In Business Ideas, Email Marketing, Marketing, Merchandising | Comments | Get this via emailI do a lot of speaking all over the world to educate retailers, so I just uploaded my first professional video clip to YouTube. I thought it would be a good marketing tool in YouTube and on my website, so we've embedded the video on the homepage of PatriciaNorins.com. Plus, we've also added video testimonials to our tradeshow site.
It got me thinking about the many creative ways you can use YouTube to promote your store, so here are a few to get you started:
- Interview some of your customers to get reviews of a product they've bought in the past. I just read a study that reported customer reviews can up web sales of a particular product by as much as 30%.
- Feature a new product of the month that you profile and talk about in a two minute video. Make sure to link to your video in your enewsletter—and embed the video on the page of your site that lists the product.
- Make a short design video. Show your customers how to set the perfect holiday table, how to accessorize their fireplace mantle or how to hang pictures to create a gallery effect on their wall. This will position you as not only a resource for gifts and home decor, but also as an expert who is willing to give advice to customers who are in need of a few tips.
- Ask your customers why they love shopping in your store. (They keep coming back, there must be a good reason!)
- Show a "before" and "after" display of your windows or a section of the store. Use the opportunity to talk about the products you've placed.
Have you made a YouTube video for your store? Post a link so we can see it!
New Year, Fresh Start
January 12, 2010 at 10:03 am | In Business Ideas, Tips | Comments | Get this via emailOne of the things I love most about a new year is that we go over the budgeting and sales from the previous year, which forces me to take time to assess how the year actually went—what worked and what didn't. Then, I plan ahead for the new year.
At a recent 2010 strategy meeting with our subscription department, I had everyone close their notebooks and put away the reports that were sitting in front of them. I then encouraged the team to imagine they were a new employee, just starting today. What questions did they have? What advice or suggestions would they give to grow revenue and profits? With this fresh perspective, it prompted us to all think a little differently. We walked away from the meeting with exciting new ideas and a great start for the 2010 plan.
In addition to that brainstorm idea (approaching your business as an outsider), here are a few questions you could think about as you plan your strategy for the new year:
- What were your five top selling lines in 2010? Were any new to your store? If so, where/how did you find them? What age group(s) did the top selling products appeal to (i.e., are you seeing a spike in the sales of tween, teen or pet-related products?)
- If you have more employees than just yourself, do you have the best possible sales team in place. After all, it's hard to grow your sales when you don't have a stellar sales force. Can you offer any exciting new sales programs or incentives for hitting personal or team sales goals?
- What new marketing initiatives will you take? Will you try social marketing for the first time, a new direct mail piece or a new store promotion?
- What will you do to continue to evolve your website (after all, your website enables you to sell globally, not just locally)?
- What new displays will you do to make your store look fresh? How often will you re-merchandise? What's your window display plan for the quarter or the year?
I hope you have a healthy and successful new year!
New Year's Resolutions
January 11, 2010 at 2:56 pm | In Tips | Comments | Get this via emailI have always loved making New Year's resolutions. As a young child I remember my Dad encouraging me to take out a notebook and write them down, and that's a tradition I continue to embrace.
He taught me that when you write down your goals it achieves two things: 1) it makes you really think about and formalize what your top goals are going to be and 2) it increases your chances of success because you want to achieve what's on your list. And on a more spiritual level, I believe that you have to ask in order to receive.
One of my New Year's resolutions is to blog more often, and so I'm giving myself a challenge. I want to do 30 posts in 30 days.
So stayed tuned to see if I reach my goal.
For the bloggers who are reading this, do you have any tips for staying on track with your blog posts?
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