Oscar 2013 Fashion Rewind

By: The One Step Retail resident blogger, Amy Hanson

I thought I'd take a moment to rewind my thoughts on last night's fashion. I love that the Oscars remain the most glamorous event in Hollywood and I appreciate the leading ladies  bringing out those loose waves, beautiful gowns and pushing the envelope while staying elegant.

First off, I have to say my favorite gown of the night was Naomi Watt's Armani Prive gown - HOLY WOWZA. Unexpected cut, elegant but bold fabric and her hair/make-up was spot on. One of my favorite bloggers said it reminded her of a Bridesmaids dress, well then I hope I am a Bridesmaid soon so I get to rock something half that cool.

I know that Jennifer Lawrence can basically do no wrong and everyone loves her (this fan girl is no exception) BUT I am not in love with that white dress, it looks odd on her long curvy body and reminds me too much of a wedding dress. The bottom half has a similar cut to her Golden Globe gown (she IS the new spokesperson for Dior and is appropriately supportive) but I still wanted something more unique. Hair is almost the same, silhouette is the same, thankfully the Marilyn Monroe bust went bu-bye.
Please do not throw things at me for saying the above, I love her, I wish we were besties, but the dresses didn't wow me as much as I'd hoped.

This leads me to the "most pleasantly surprising look of the evening". Even in a shot that doesn't show off the dress, I am wowed and amazed. She looks so striking and beautiful.

Well played Charlize Theron, well played.

Cutest couple alert! The fact that Channing Tatum's lovely wife (Jenna Dewan) is with child doesn't hurt... BUT really, the man can dance, has a surprising range of emotions on screen and looks like he will probably be the cutest Daddy ever. Gush.

The Empire strikes back! A few years ago (2007?) Project Runway did a competition with inspiration from various New York buildings, my favorite being the one inspired by the Empire State Building. A few beautiful ladies rocked the Empire State Building / 1920's Great Gatsby look and I loved it.

 

And now I want to go play dress up... 





Happy Valentines Day Retailers!

These Valentines Day displays were a *hit*

 

 

 

 

 

Check out some more fun holiday display ideas on Mannequin Madness' Pinterest

 

XO,

Your Friends at One Step Retail Solutions

 

 

 

Unique Stands for Your iPad Point of Sale



Point of Sale technology can visually enhance the customer experience, this is increasingly becoming a goal in addition to helping make a retailers life easier behind the scenes. iPads can also be used throughout the store to showcase ads, useful tips, discounts, product combinations, etc, functioning as a constant branding or promotional outlet.

 

 

Beautiful option for a retail store with an earthy or rustic feel.



Sleek, modern and completely functional, the iTab Pro.  



This artistic stand would be great for an art store or any creative environment.

Clean, minimalistic and perfect for any retail store with a streamlined and modern atmosphere.

This stand was meant to live in a hardware store or even a store that sells a lot of plaid...

Another clean, simple option. Perfect for stores that wants the iPad to do the talking.

I could see this beauty in any urban store, living amongst beautiful jewelry or designer jackets.

Visit our Pinterest board for more unique iPad display ideas and links to where these stands and accessories can be purchased.

For more information on the mobile / tablet Point of Sale options available on the market, contact us by phone 800.266.1328 or request a free consultation.

 

 

Visit our Pinterest page for more ideas!

 



A Sit Down With Susan Wagner of Smart Retailer Magazine: A Look at the Shopper Economy, Consumer Trends and Facebook for Retailers

How did you come up with the idea for SmartRetailer?

 

Smart Retailer was started as Country Sampler's Country Business in 1993 as an offshoot of the company's consumer publication, Country Sampler. The founder of the company, Mark Nickel, was the managing editor of a trade publication and traveled with his wife to craft fairs to sell her merchandise. After several of these trips, Nickel came up with the idea of Country Sampler as a way for crafters and artisans to advertise their products and sell merchandise to people across the country. From there, Nickel started Country Sampler’s Country Business as a trade publication to serve the artists and crafters who wanted to conduct business wholesale.

Over the years, we continually heard from more and more storeowners who said, "I'm not country, but I absolutely love your publication. It provides all sorts of resources and good advice for small retailers like me."

We realized that independent retailers were clamoring for more business advice and resources and ideas to help them grow, and we could provide that to them.

In 2012, we rebranded our magazine from Country Sampler's Country Business to Smart Retailer with the goal that we would provide solid business advice to independent gift and decor retailers of any genre. We revamped our website, added e-newsletters, partnered with other businesses, held seminars and created events that were all designed to help the independent retailer improve his or her business.  

Tell me a bit about your background and retail?

Surprisingly, my background is all in publishing. Other than working at McDonald's for several years as a teen, I've never worked in retail. However, through the past 13 years of working on this publication, talking with retailers and vendors and researching information, I've picked up quite a bit about retail. Plus, I've been involved in various positions that involved such business skills as customer service, marketing, accounting, etc.—skills that are just as critical to retailers as they are to any small business.

What is your vision of where retail is going?

For local retailers, retail is all about building relationships with the community. In today's market there are way too many places where you can buy similar products. People can go into a gas station convenience store and buy a birthday card or a fashion scarf. Many hardware stores, beauty salons and spa dealers carry products that were traditionally only found in gift stores.

Merchandise can be bought online from a store across the country. With product being that prevalent, the independent retailer needs to draw customers to his or her shop by means other than product alone.

That's where the relationship building comes in. Simply put, people like to do business with people they like, and as a retailer, if you can build your business where people want to buy from you because they feel that connection to you, then you are much farther ahead than other retailers. Building that connection means being personable in all your marketing campaigns, going above and beyond what other businesses do, partnering with your community or other businesses. You want your shop to come immediately to mind when someone says, "I need to buy a gift for Aunt Sally."

The retail world at large is going to continue to evolve into various channels. Consumers want to be able to buy through whatever means is easiest to them.

That could mean shopping in person at a storefront, shopping online through a traditional website, shopping through Facebook or other social media sites, placing an order through a smartphone, hiring a personal shopper that comes to you, etc.

Retailers need to be aware of how consumers go through their day, how they interact with their friends and family, and what is important to them. Today, many people do most of their interacting through Facebook or conduct much of their life via their phone, and time is important to them. When these people want to buy something, they want to buy it now and they want to do it through the means they are doing all their business – via their phone or their Facebook account.

Retailers need to remember that although they might not be into Facebook that much, that doesn't mean their customers aren't. And so they need to develop means to reach these people through different technology even if it isn't something they would use themselves.

What do you think are the most important trends that retailers should keep an eye on?

Trends in retailing fall a lot into what I said above about technology. Retailers need to be aware of what is out there and how it is being used, even if their customer base is not quite ready for that technology.

A good example is mobile marketing. Mobile marketing is going to continue to grow and become huge, because as I mentioned before, people live and breathe on their cell phones. A retailer may say, "but my customers aren't really into mobile marketing," or "I don't think my customers would welcome text message promotions." Well, they may not now, but there's a good chance they will in the next couple of years. Retailers need to know about these up-and-coming marketing avenues or what's new in retail technology and keep an eye on them. Then, when their customers are ready, they can jump on it without having to spend precious time becoming acclimated to how it works.

Two important trends right now are the surge in buying local and purchasing made-in-America goods. These trends are a definite result of the drawn-out recession, but they are an important trend for retailers everywhere. Store owners that do carry American-made goods need to promote them and help their customers understand why that is a better product. Likewise, any independent retailer can become involved in the buy-local movement. Back to what I said before, people like to buy from people they make a connection with, and if a retailer can make a connection with their consumer base because they are a locally owned company that lives right there in the same town as their customers, that builds that connection.

What are your predictions for retail in the next few years?

Retail will definitely pick up.

Holiday sales figures for 2012 were up, which is good for everyone, and many of the retailers I talked to have said they experienced fourth-quarter sales that were double or even triple that of the year before. Some store owners even said last year was their best holiday season yet. But retailers have to be aware that they can't be everything to everyone. They need to find their niche and provide the best they can for that niche – whether it is a certain type of product or a specialized service.

I think consumers are returning to a European grocery-shopping mentality, where they go to one store to buy bread, another store to buy meat and another to get fresh fruit. People are moving away from getting all their goods in one major shopping trip at a humongous big-box store. They are picking and choosing where to spend their money. They are going to a local shoe store for their shoes and a boutique for their clothes and a specialty shop for their favorite hand soap or body cream. Plus, consumers want to treat themselves. That mentality hasn't gone away. Even in the recession, people still found ways to spend on products they really wanted. They might have cut costs on their paper products or groceries, but they still spent money on that fabulous lipstick shade or wonderfully scented candle.

What is your take on the resources becoming available to retailers? (technology, apps, mobile, etc)

Today there are many more resources available to retailers than many of them can even imagine!

There are specialized apps for their phones or tablets that can help them conduct business on the fly. Business owners can use cloud technology for their inventory, accounting and sales records and not have to invest in major software. And technological tools abound that help them boost their marketing beyond what they could do just on their own. In reality, many retailers already have software or technology for which they don't even use half of the functions.

They should research what their current technology does and look into all the other options to see what truly works for their business.

Small business owners wear many hats. Some hats they wear beautifully; others are just never quite the right fit. It makes sense for business owners to use the technology available to do the tasks that might not be their forte so they can free up their time to work on aspects of their business in which they excel. 

What is your favorite aspect of Smart Retail magazine? There are a lot of resources and it is geared towards being very helpful?

My absolute favorite part of working on Smart Retailer is the interaction I have with our readers. I love when I can talk to them at trade shows, hear about their businesses, offer tips or insights on our Facebook page and help them grow and realize their dreams.

My second favorite part of working on the magazine is the enjoyment I find in publishing in general. I love to work on the magazine and then see the freshly printed copy hit my desk. It's a thrill to look through every time. As far as what specific section of the magazine I like the best, it would have to be our display ideas. Our stylist/designer, Nancy Borsodi, is very talented and she constantly comes up with creative ways of showcasing merchandise. Retailers are always looking for new display ideas and we love to bring spark their imagination with our ideas.

What are your thoughts on the economy and how a retailer can overcome it?

The economy has certainly gone through a much tougher time than anyone expected. The reality is we are never going to go back to the heydays of the earlier years. We are now operating in a New Normal. That means that shifts in shopping habits that consumers adopted during the recession are here to stay.

Yes, people are price conscious. However, they also value what is important to them. So if a busy consumer places a high value on his or her time and a retailer can show how his or her product or services can help save that person time, the consumer will be happy to pay the price. If a person values a unique fashion look and doesn't want to wear the same clothes as everyone else, then the boutique owner who carries truly one-of-a-kind items will help that person stand out in a crowd. As a result, that customer will shell out the money for that look.

Retailers need to discover what they can offer that is truly different than everyone else. You can't go through business with blinders on. You need to know exactly what your competitors are doing, what your customers are looking for and what you can offer that can't be found elsewhere. Yes, it takes work, but if you want to succeed, you can't just sit back and expect the money to roll in. Those days are past.

 

Click here for more information or to subscribe!

Battling Online Retail Giants: Miracle on 34th Street Inspires

Scott Truitt is a Brand Strategist and Designer specializing in Brand Development and Prototype Retail Store Design. His clients include national and international companies such as Office Depot, Nike, Costco, and Miller Brewing Company, as well as professional sports teams such as the Seattle Seahawks, Baltimore Ravens, and Pittsburgh Steelers, and regional retailers such as Aries Apparel, The Luxury of Leather, and Picasso Exotic Aquatics. Scott employs a unique branding and design process to help his clients to focus and articulate their brand message and to express it in a way that engages their core customer, creates loyalty, and ultimately increases sales.
www.scotttruitt.com | 206.714.5972

One of the biggest challenges that brick and mortar retailers will face in the coming years (and are already beginning to face), is the challenge of competing with online retailers accessible to customers through smart phones. 

Despite predictions a decade ago that brick and mortar stores would become obsolete, customers continue and will continue to shop brick and mortar stores.  As much as we want the convenience and value of online shopping we still want to see, touch, and experience products before we buy them and we always will.  We also want the service and expertise of store staff, and we want the tactile connection with a company’s brand.

The challenge for brick and mortar stores over the past decade has been competing with online retailers on price.  That challenge is increasing exponentially with customers’ access to online information and sales channels via their smart phones right from the sales floor.  Smart phone apps are already providing customers with the opportunity to scan products in the store to comparison shop for lower prices available at other stores or through online sources.  So how can brick and mortar retailers compete with online retailers whose operating costs are much, much lower? 
The answer lies in a 1947 movie, which you may have just recently watched:  Miracle on 34^th Street. 

In the movie, Kris Kringle (aka Santa Claus) “puts the customer ahead of the commercial” by helping Macy’s customers to find exactly what they want, even if it means sending them to another store.  As a result, throngs of customers express their undying gratitude to Macy’s and pledge to become regular Macy’s customers.  Flash forward 65 years, and this becomes the strongest solution to competing with online retailers.  Now, however, instead of being armed with huge books of newspaper ads for other stores, today’s store staff are armed with tablets.

One of the most interesting and dynamic developments in retailing in the past 5 years has been the development and growth of mobile POS systems – allowing store staff to research product availability, stock levels, product details, and even check customers out using mobile tablet devices.  This allows staff to continue to engage customers when they are most interested in connecting with staff, get answers without walking away from customers, and capitalize on the customer’s enthusiasm by processing their sale the moment that they are most excited about the product rather than making them come to the front of the store to check out.

Meanwhile, other customers are avoiding engaging with staff and even slyly checking their smart phones for price comparisons at other stores or online retailers.  This is a two-fold problem:  not only are they shopping elsewhere for the lowest price while standing in your store, but they are avoiding engaging with staff while they do it, denying staff the opportunity to address questions or concerns, or establish value in the in-store experience.

What if store staff went the other way, and offered to use their mobile tablets to comparison shop with the customer or for the customer?  What if they were as transparent as they possibly could be, helping the customer to find lower prices elsewhere using their mobile tablets, giving the customer all of the information that they possibly can not just about what they carry and at what price, but what the customer might find elsewhere? 

What if, rather than begrudgingly accepting mobile comparison shopping as an unfortunate reality that brick and mortars are powerless to compete with, staff used that experience as an opportunity to illustrate to customers that, “Yes, it looks like you can save a couple of dollars by driving across town or by ordering it online.  If you buy here, though, our product comes with X Service, Y Return Policy, Z Warranty, we can save you 20% right now by signing you up for our Loyal Customer Program, and you get to take it home now, not later.  Oh, and here’s my card – if you have any questions at any time, you can call me directly and talk to a real human being.”  Imagine what kind of loyal customers that would create…

Admittedly, on the surface this might sound insane – helping your customer to find a lower price at a competing store.  But that’s exactly what the customers in Miracle on 34^th Street thought – and yet their response was to become increasingly loyal to Macy’s for one very important reason:  Trust. 
Granted, Miracle on 34^th Street is a work of fiction.  But it has endured for 65 years because it resonates with us – as human beings, and as customers.  We would all like to be treated like the customers in that movie.  And the more we are inundated with shallow and insincere marketing messages, the more we value that kind of respect, understanding, honesty and trust.  And we’re willing to pay more for that.  We’re happy to pay more for that. 

Price is just one factor in the value equation, and it can easily be overcome if you establish value elsewhere in the buying experience that is worth paying more for.  So the irony is that by abandoning the old paradigm of not wanting customers to know what they can get elsewhere and instead becoming their partner in the comparison shopping experience, you create a bond of trust that makes them willing and happy to pay more with you because they see the value that you are providing for that little bit of extra money.

We all know that the internet and mobile technology is going to radically change the way retailers engage customers – we just don’t know exactly how yet.  Increased transparency is certainly one answer.  Who’da thunk that that answer would have been right in front of us every holiday season for the past 65 years?

[Guest Blog] Benefits of Custom Displays

I was talking with my sister on the phone the other day, when she interrupted me from her excitement over her recent impulse buy of black, glitter nail polish. She had gone to the store for some soda, when she explained that she saw this new nail polish sign. She’s not terribly familiar with all of the display marketing lingo. Anyway, after some probing, I found out that she was attracted to this new color of polish because of the display.
Custom displays help by providing that “wow” factor. Visuals convey the power of ideas in a way that words alone cannot. The personality of a retail store is not determined by merchandise alone. Custom displays provide the following benefits when properly designed and deployed.

Consider this. Coke, the NFL, MAC Cosmetics, Bank of America and Proctor & Gamble - just to name a few - are all very familiar with the above benefits and continue to roll out new custom designs.

1. Elevate Your Brand
   A refined custom display will highlight a product’s main features and effectively market the brand name. A great custom display is built according to the marketing strategy and demographic of targeted buyers. Custom displays allow you to have your name on the display to keep front of the consumers mind, even if the product is sold out. This helps reinforce your brand in the offline world.
2. Versatility
   Customize it to your needs! Acrylic can be cut, shaped and formed to just about any design imaginable. This gives you more choices than other traditional displays. And stands made of Plexiglas come in multiple forms such as cases, stands, racks, wall mounts or holders. The material can be recycled and reshaped into other plastic objects. We also offer more environmentally friendly displays, made of chipboard or corrugated.
3. Convenience
   In order to provide easy access for consumers, Crest recently came out with a 2-side product display to merchandise its Oral B brand oral care products, for travel use. Similarly, Swiffer had a pallet display produced in order to feature their fully assembled Swiffer starter kits. No assembly needed! The display was designed with a flexible structure to be utilized as an action alley or end-cap display. Acrylic displays can be wall mounted which helps you to reduce clutter and place your valued products at eye level. With custom and stock displays, you can meet the space and décor requirements with the retailer easily and effectively and most importantly, provide shopping convenience for the consumer.
4. Provide More Information
   Innovative fixtures and custom displays provide a platform to launch new products and services. You can also illustrate interesting information related to offers and benefits available with said product.
5. Increase Profits
   A sophisticated retail display will increase the perceived value of your product and ultimately make an impact on bottom line profits. Research papers from the Point of Purchase Association International (POPAI) state that at least 70% of product selections are made within the store. Suggestive marketing plays a large role in the way that people shop and purchase goods, even if they are not consciously aware. Impulsive buys usually occur with products on elegant POP displays or counter top displays near the cash register. Custom displays enables companies to capture the attention of new buyers, which will likely lead to repeat customers.

With over 25 years’ experience, Benchmark Displays is a trusted creative team of custom display manufacturers.

RIP Norman Joseph Woodland - Retail Revolutionary

Though belated we wanted to take a moment to remember a technology revolutionary, Norman Joseph Woodland. Which few visionaries names go down in the history books, Norman, creator of the barcode made much possible.

His creation came before it's time and wasn't broadly adapted until over 20 years after his inception.

It is said that Norman very much enjoyed shopping at grocery stores and seeing his idea on next to every product available for purchase.

Thank you for your vision and thank you for your contribution to modern retail, Norman.

[WEBINAR] Marketing 2.0 for Retailers: Social, Local, Mobile (SoLoMo) in 2013

This webinar is now available through the One Step Retail webinars page.

In this action packed webinar, retailers will learn key steps to improve their presence and sales through social, local and mobile strategies to produce increased sales in 2013.

Find out how to maneuver the rapidly evolving shopping trends, establish a SoLoMo game plan and utilize existing resources to start your year off right.

February 5^th, 2013 (Tuesday)

11am – 12pm PST
LIVE WEBINAR IS NOW CLOSED 
#ExpandMyStore2013

 

SnapRetail’s Christian Kratsas, Social Media Manager
Take your online traffic and turn it into in-store traffic! Learn how to use Facebook, Twitter and Pinterest to get customers to “like” you online and in person!

About SnapRetail: SnapRetail provides a web-based solution that makes it easy for local retailers to engage with customers through email, Facebook, Pinterest and Twitter. Unique product features such as an interactive planning calendar, monthly promotion kits and hundreds of pre-written and professionally designed templates and social media posts make SnapRetail the choice for thousands of retailers looking for a one-stop-shop for their marketing needs.

PocketYour Shop’s Brian Downard, CEO and Founder
Learn how consumers are shopping in and outside of stores, with a focus on the latest trends in mobile retail and how you can leverage those trends to benefit your business.

About Pocket Your Shop: Pocket Your Shop provides mobile strategy, design, development and management for businesses of all shapes and sizes.

King Retail Solution's Andrew Swedenborg, Executive VP

Learn steps every retailer can take to maximize your retail space, with a focus on maximizing your real estate to grow your customer base and increase your sales.

About King Retail: King Retail’s award-winning environments leave your consumer feeling great about their experience in-store and looking forward to their next shopping trip. As builders, King Retail knows every step and every detail that it takes to realize a design with integrity.

RMSA’s David Downard, Retail Consultant
Find out how to utilize your existing tools and goal setting to manage your store and improve your customer’s experience for increased sales in 2013.

“If you don’t know where you are going, you will end up somewhere else,” Laurence J. Peter

About Dave Downard: Dave has over 25 years experience working with retailers to analyze and improve store performance, helping hundreds of retailers achieve their business goals.


Registration link: https://www3.gotomeeting.com/register/678248982


Hosted by One Step Retail Solutions, One Step Retail Solutions has helped thousands of retailers nationwide achieve their retail goals through top of the line retail technology. With a consultative and personal approach, One Step is a top resource for 5 of the top point of sale / retail management systems available on the market. Having been in business for over 27 years we have evolved relationships with specialists industry-wide and strive to bring educational resources to our retailers and other retail friends.

We hope that this webinar will help you to start your year off right and achieve your 2013 goals!


SoLoMo image source: socialmediatoday.com

Happy Holidays from One Step Retail Solutions!

One Step Reels in Their Newest Retail Pro Client: The Fly Shop

We are proud to welcome The Grizzly Hackle Shop, The Fly Shop and Targus Fly to the One Step Family! As the North Wests premier fly and outfitter resource, their presence through their on-line stores and resource guides have been gradually expanding their reach beyond the great North West.

If you are ever looking to take a fly fishing adventure, take a trip to one of their several stores or through their helpful websites to find all of your supplies and gear.

“We fish for a living and have fun for a living” - Wayne

Sounds like a great life!

 

Experience LA Without Even Leaving the Airport

We are excited for our clients that are poised to take part in the much anticipated Tom Bradley International Terminal opening Spring of 2013 in LAX. While high-end airport shopping is not a new concept, Westfield has teamed up with Mayor Villaraigosa to bring several dozen Los Angeles favorites to this new terminal. Angelinos have been waiting for the day LAX would get a face-lift and our dreams are at least partially coming true.

The participating dining and retail locations were carefully curated and appear to bring together some of the best in LA, everything from Kitson to Umami and LAMill will give a passer through or arriving tourist an immediate taste (pun intended) of the LA scene.

La Mer, Smashbox, Fred Segal, Kitson, Umami and LAMill all within a 25,000-square-foot space? When can I book my next international flight out of LAX?!

For more information and concept images, click here.

Routes to Finding Funds for a New Retail Store [Guest Article]

Getting a business off the ground isn’t easy. Whether you want to own a boutique or are looking to run a brand new designer retail store, finding the right funding is a necessity. Starting a new business is expensive and in order to get your retail store up and running, you’ll need enough in the bank to start and stay in business.  While this is a process that requires many considerations, here are 3 of the routes you can take to find capital for your new retail store.


Credit Cards
While it is important for small business to accept credit cards, having a credit card for your business is one way to fund necessary expenses. Using a credit card can be risky if you don’t anticipate being able to pay off your balances in the near future, e.g. 90 days. A business credit card is how some small businesses have been able to fund operations and choosing the right card is important. Make sure you look for a business credit card with permanent rates that are low and an introductory rate that is even less. To keep the credit card debt you will acquire until you are able to pay it all off, be frugal and buy only what you need.


Bank Loans
There are a few different places new businesses can look for a business loan. Acquiring a loan can be a bit of a challenge, however, if your credit score is low. You’ll also need a well-put-together business plan to present to financial lenders that incorporates financial predictions to demonstrate you’ll be able to make your loan repayments. The SBA (Small Business Administration) backs loans – from the 7(a) Loan to Microloan programs – that are open to any small business, but there are a number of qualifications. In recent times, small banks are more likely to take chances on small businesses such as a new retail store.

Personal Investment
Some startups and new businesses are able to fund a new business on their own, from life savings or other means. If you can’t, turning to friends and family is an option. When you turn to your loved ones for financial backing, you’re risking your future success and their financial future. Make sure you have a business plan in place with financial projections and are able to have a contract in place. Letting those who support your new retail store ventures should be made aware of when they will receive their money again, though it could be lost, and have a clear understanding of what their financial contribution’s status is as a loan or if you’ll offer equity.
Taking these steps can help you avoid miscommunications down the road.

One of the most important things when finding funds for your retail store is making sure you estimate correctly so you don’t end up with less capital than you need or too much that results in greater debt. While it is often difficult for new business owners to get a business loan, plan out your business’s estimated startup costs, financial projections and crunch some number. Make sure you are ready to present your business plan to lenders and investors, no matter whether they are a family member or major banking institution.

 

Author Bio: Erica Bell is a small business writer who focuses on topics such as comparing small business loans and small business credit card offers. She is a web content writer for Business.com. Find them on Facebook!

3 Tips for Implementing Loyalty Programs This Holiday Season [Guest Blog]

According to Inc., 65% of marketers have implemented a loyalty program, and for good reason. Current customers spend, on average, 67% more than customers who are buying from your business for the first time. And acquiring those new customers costs 5 to 10 times more than selling to a current customer.

It’s quite clear just how valuable your loyal returning customers are to your business now, and in the future. While direct mailing tactics or a seasonal email campaign can keep your current customers interested, a loyalty program is the most strategic way to keep them interested and spending long after the holidays are gone.

Determine Your Customers’ Needs

The first step in creating a loyalty program is determining what your customers need. These needs may vary depending on the time of year; for example, the holiday rush is a lot more stressful and time-consuming than it is to shop for March birthdays. Figure out what your customers need from your company to get them through the holidays in one piece.

·         Be sure you’ve researched and developed an in-depth customer profile for your company. Are your customers young adults, middle-aged moms, or retirees? Each group will have different needs from a rewards program, so know which one you’re working with.

·         Know how your customers use your product or service, and then determine how you can add value to what your customer is buying. Holiday retail rewards could include free gift wrapping, free shipping, or extended terms on product returns.

·         In “The Loyalty Effect,” Fred Reichheld claims that a 5% increase in customer retention can result in a 25 to 100% increase in profitability.

Offer Actual Value

In order to turn new customers into returning customers through a loyalty program, you need to offer them something with actual value. A points system that creates unattainable goals or a promotional game they have no chance of winning will frustrate your customers and can cause them to drop out of your program, which could then potentially drive them away.

·         If you offer a points-based program, keep it simple: allow customers to earn a free item for every $50 spent, or give them $10 off for every $100 spent. For a holiday promotion to bring in more sales, consider doubling your rewards until the end of the holidays.

·         If your products tend to be purchased less frequently, or your services aren’t conducive to a points-based system, you can implement a tiered system instead that increases rewards over time or with more purchases. Offer each tier special holiday rewards, move lower-tier customers up a level for the holidays, or give new program participants a special gift for joining during the season.

·         No matter what kind of loyalty program structure you choose, it needs to provide customers with attainable, valuable rewards that they can redeem quickly and frequently.

Partner Up

There is a limit to how many rewards and discounts you can offer your customers on your own. Collaborating with another company can enable you to offer additional rewards beyond the scope of your own business and capitalize on the holiday shopping season.

·         Coalition programs are strategic partnerships formed to increase customer retention and company both for all partners involved. The coalition can last for the length of the holiday season, or become a permanent partnership.

·         If you understand your customer’s needs, you can find other companies that serve your customer and would be valuable partners in a coalition program.

Customer loyalty programs increase customer happiness and retention by offering them rewards and extra services they can use during the holidays. Whether you offer a coalition program, a points system, or a tiered rewards structure, make sure that it adds value to your customer relationships during the holidays and all year long.

Megan Webb-Morgan is a web content writer for ResourceNation. She writes about small business, focusing on topics such as business sales. Follow Resource Nation on Facebook and Twitter, too!

Teamwork Retail Feature in POS News Blog

 

See full article HERE

For more information on Teamwork Retail

Retail Metrics Webinar Series are Now Available – Free Download

Retail Metrics, our wildly successful 6 part webinar series are now available to download for free. You will have consistent access to these educational webinars designed for the everyday retailer, both large and single-store.

View this series of 6 educational webinars for free CLICK HERE.

Retail Metrics is presented by One Step Retail Solutions and Dan Jablons from Retail Smart Guys and covers many key topics, including: 

• Not enough cash to pay your bills?
• Too much inventory?
• Not enough of the right inventory? 
• Excessive markdowns ruining your bottom line?
• Not sure if you’re doing the right thing with your business?