Retail Rescue

Thank you for your patience

2018-05-19T00:00:00.000+10:00

Hello

This is a quick message to say thank you to all of my friends, colleagues, professional connections and social media followers, for your support and patience, as I have been so super busy establishing my new business.

It has been over 12 months since I decided to upgrade my Mentoring and Sales Training business, Retail Rescue, to now include Digital Marketing. So, please let me apologise for perhaps not keeping in contact with some of you and not posting enough content to my many followers.

Because this new arm of my business is available to anyone in need of help with their digital marketing, (not just retailers or suppliers and not just for Australia), I have set the business up as a separate identity, known as “Digital Managed”.

Please take a look at my new website http://digitalmanaged.com and let me know if any of my new offerings interest you.

I would welcome any feedback on the site itself too, like is it easy enough to navigate, can you find what you are interested in easily enough and so on; as I have only just finished making the site and really want it to be user friendly.

There are a lot of things we do, like posting to Social Media for you, managing your AdWords and Remarketing, getting you found online, building Blogs and Websites, or even teaching you how to do it all yourself; so please take a look. We even have one page that lists all offers.

Thanks for taking the time to read this and I will try to not be such a ‘stranger’ from now on.

The best of me to you,

Bryan Young (Mr Retail)

CEO of Retail Rescue and Digital Managed

This email was sent to marketing2130.autoblog@blogger.com. You are receiving this because you are either a friend of mine, a colleague, client, social media follower or have subscribed to the Retail Rescue newsletter. If you feel you have received this in error, or no longer wish to receive emails from me, please unsubscribe.

How NOT to Greet a Customer - Mr Retail Sales Tips

2015-06-28T20:16:00.000+10:00

How often have you walked into a store and been greeted with "Can I help you?"
How often have you replied with "No Thanks, Just looking"?

This kind of closed response is the fault of the salesperson!

You see it's human nature to take the easy way out; we are always trying to find ways to make our lives easier, which is why we have so much technology in our lives for example. We would prefer not to have to interact with a 'stranger', (which is who you are to this new person in your store), until we are sure that what we need is actually present in this store.

So when you ask a customer a 'closed question', (a question allowing a very limited response, such as "yes" or "no"), you have just given them, (and you), an 'out'.

Here are some examples of what NOT to say:

Can I help you?
You right there?
Happy to browse?
Let me know if you need any help.
Just looking are you?

These are closed greetings and they actually encourage a negative response. You may as well say "PLEASE tell me you don't want any help, because I would really prefer to take the easy way out and not have to serve you. I can still justify to myself and hopefully my boss, that I have done my job, because I did approach you after all".

On the other hand, when you ask an open question, (a question that requires a much more detailed response), many customers actually find it easier to simply let you serve them, than think of a brush off.

Some examples of Open Greetings are:

Looking for a gift, or something for yourself?
We have a great range don't we?
See anything that interests you?
Were you looking for anything in particular?
What brings you in today?

Don't give your customers an excuse not to be served by you, rather give them an opportunity to tell you what they are after instead.

Like this tip? Why not attend two FREE 20 minute seminars, conducted by Mr Retail himself, at the upcoming Brisbane Gift Fair?

Mr. Retail will be presenting at the Brisbane Gift and Homewares Fair
July 4 - 6 2015, Brisbane Convention & Exhibition Centre South Bank

He will be providing not one, but two 20 minute Sales Training presentations

“Closing the Sale and Selling Add-ons”
Assumptive close & Trial Close
Overcoming Objections
Increasing Basket Size

“Loyalty Marketing made personal again”
List building and database growth
Loyalty Programs that customers love
Email and SMS marketing done right

Being that Mr Retail's normal rate for presentations such as these is $495 per head, you can be sure that seats will be limited! So make sure you reserve your spot now by following this link and entering your details. As a bonus, after the event is over you will also receive a link to the video of the presentation

New and Better ways of running a Retail Business

2014-07-19T11:11:00.001+10:00

In my last article, "Top 3 ways of running a Retail Business that no longer work", we looked at traditional methods of running a retail business that are having less impact every year. At one point they were very effective but now they no longer work as well as they used to.

Today we look at what new methods are working better as replacements for those discussed.

If you have been following my previous posts you will have worked out by now that my motto is "Less Talk... More Action", so let's get straight into it.

# 3 – Digital Marketing

As the last article pointed out, many traditional marketing mediums are becoming way too cost prohibitive for SMEs to use for promotion of sales and limited offers, thus they are best used for branding purposes. However the gap can easily be filled with digital marketing. Digital marketing is mostly focused on inbound activity, rather than outbound, meaning potential consumers are engaged in your business and offerings, rather than simply ‘shouted at’, thus they are more likely to seek you out as ‘the place’ to shop.

Niche marketing is gaining huge traction, whereby you focus on a specific segment of the market that you happen to excel in, (and your demographic supports), then tell everyone about it. Rather than promote price or best service as your point of difference, try looking at what else you can offer that is not commonly available and make this your USP, (Unique Selling Proposition), instead.

As an example, I recently did a business needs assessment for a new client; her Antiques business was starting to struggle after two other Antiques dealers opened up in the same small town. These other businesses had larger premises and thus were able to present a much bigger range than she could ever provide. However, a close look at her books revealed strong growth in other areas of the business, namely imported lines from exotic locations. By shifting focus to “exotic imported goods”, and away from Antiques, she now has a niche that no-one else is supporting for hundreds of kilometres, and sales are increasing in response. She is now even planning to sell online.

You need not be this dramatic in order to come up with your own USP. It can be targeting high end products, rather than everyone else’s low end, or something as simple as providing a play area for children. Perhaps offer a “wow” factor experience, such as interactive digital signage/augmented reality. Basically get them talking and make them keen to return for more... with their friends…

Some examples of Digital Marketing include emails, Q.R. Codes, mobile websites, Social Media, SEO, (search engine optimisation), Google maps/places, digital signage/augmented reality, celebrity referrals and loyalty programs tied to CRM software.

# 2 - Buying Analytics

There have been significant advancements in software to track inventory. Now it is easy to pin point which departments are working best for you and at what price points. Even down to specific items that sell faster than others and thus deserve priority when placing fresh orders.

This data can be used to drive future buying plans and make for much less guess work and a lot more certainty. One can prepare a 12 month buying guide that allows for more purchases in certain months, e.g. the lead up to Christmas, and less for others.
Even the lines themselves will vary from month to month, depending on upcoming events, such as Valentines Day and Mothers Day etc.

Now items purchased will be more in line with what your customers actually want and no longer heavily reliant on the owner’s personal perceptions, or intuition.

I once queried a client about why she had so much high end product when the demographic research I did for her indicated her local market was mid to low end. Her response was that it made a great ‘draw-card’ and besides she loves looking at them, as they are really beautiful. I told her to take them home if she loved them that much, but in the meantime she needs to reduce her top end range and focus on what her clients want. Then her husband tried to tell me “You can’t sell it if you don’t have it”. I pointed out that this only applies to products that sell in your demographic, products that meet the current trend or style/fashion and at proven price points; otherwise “You WON’T sell it if you DO have it”.

It wasn't until I sat down with them and analysed their data, were they able to see they had too much stock in poor performing departments and not enough in the good. Plus, they were missing the mark in their price points and not meeting current trends. Even their aged stock report showed their old stock levels as being way too high. Finally they agreed to follow my guidance and almost immediately started to make more money.

Fast-sellers come first. Bread and butter lines are your number one concern as they not only pay for themselves but your bills as well, so if you don’t have as many of your fast-sellers in stock as possible, then don’t be surprised if you don’t have any money in the bank either. In short, before you go looking for the ‘next best thing’, make sure you are fully stocked in the ‘current best thing’ because these have already proven themselves, whereas the ‘next best thing’ has yet to do so.

# 1 – Modern Performance Management

‘New wave’ management. It has never been more important to make the workplace an enjoyable place to be and to ensure recognition of staff efforts is a standard thing.

Studies have proven that if you encourage a ‘family’ atmosphere, with ‘buy in’ to your values and vision, that productivity increases exponentially!

So share your business goals, recognise individual efforts and encourage your people to perform as a team. You will get more respect that the ‘my way or the highway’ employer and enjoy greater returns as well.

Encourage their input too, you may be surprised at some of the good ideas they put forward once they feel a sense of ‘ownership’ in your business’s progression. In short, they will always try to do better when they ‘feel a part of the family’.

Now, what if you already do this, in fact you have the perfect team/family model in place and yet you still have one ‘bad egg’ that just wants to take advantage of you and even tries to undermine your authority every time your back is turned? Let’s face it, with more and more employee rights being legislated every day, it is getting extremely difficult to deal with staff that keep up with said rights and then basically use them as a tool to stay employed, even though they may not be good for your business. The truth is, firm tactics and even written warnings are having less and less impact, especially on the “I’ll avoid work if I can, so long as I get paid” mind-set. So how do you deal with this and how do you prevent it from happening again in the future?

Believe it or not, resolution can often be attained through the very same rights that protect staff, as there are just as many rights in there for the employer as well; so learn what they are and use them to break free. I could write an entire article about best practice for performance management and handling difficult staff, so mention in the comments below if this interests you and I may well do so. Meanwhile, here’s how to avoid it from happening again.

Personality Tests. Begin by profiling the role itself, as in what it involves and what type of personality is best suited to doing it long term and happily. Then survey applicants to see if they match the profile needed. By placing people best suited to specific roles, they are far more likely to be happy in the position and thus perform better. Thus job satisfaction will bring increased productivity and higher potential for retention, (due to less stress).

Positive focus. The more positive and ‘upbeat’ you are about your business and where it’s headed the more staff will 'feed off of you' and become more enthusiastic within their own roles. People buy from people, so watch sales increase when you have enthusiastic people on board. If you are always finding excuses for why sales are down, or always complaining about the last grumpy customer, just remember that you have then ‘set the tone’ for how you expect your staff to behave as well.

Try it; be enthused and upbeat for just one week and watch your staff respond in kind… your sales will go up as well, especially if you get just as enthused about their results. Besides, whilst people are concentrating on finding reasons for failure they are not spending their valuable time learning from past mistakes and planning to succeed next time!

I hope these two articles have been of help to you. Keep following me for more free retail tips and advice, or perhaps join my mailing list, to make sure you don’t miss out. If you would like to learn a lot more about running a successful retail business, or ask for my assistance in growing your business, please contact me.

In fact here’s my world… choose your poison.

Ways of running a retail business that no longer work

2014-07-14T10:10:00.001+10:00

Many long running retailers are discovering that some traditional methods of running a retail business are having less impact every year. In this article we look at the top 3 ways that no longer work as well as they used to. Next week we will discuss what new ways ARE working instead.

If you are inflexible to change, you may as well stop reading. However, if you understand that the retail landscape is changing faster than you can blink, these two articles will help you a great deal.

# 3 – Traditional Marketing

Traditional Media Sources. There is still a place for Traditional Media, such as Newspaper, Magazines etc, but for many small to medium sized retailers most of these can be very cost prohibitive. Thus there has been a huge shift from traditional ‘outbound’ marketing, to much cheaper and yet more effective ‘inbound’ marketing techniques that digital can provide.

Promoting Price/Service as Point of Difference. If you are using “The Best Price and/or Best Service” as your point of difference, then welcome to not having a point of difference at all, because that’s exactly what everyone promotes these days, you need to be unique to stand out from the crowd.

Relying on Big Events, e.g. Christmas. Big Events should always be treated as ‘icing on the cake’ and NOT relied upon to ‘get you through another year’. You should be planning to drive your business on a day to day basis, meaning a poor Christmas should only restrict growth, not close your doors.

Relying on word of mouth. How well are you collecting and utilising customer information? If 20% of your clients bring in 80% of your business, how are you rewarding and encouraging repeat business from that 20%? Are you actively building a relationship with your customers to encourage MORE than 20%, or are you simply serving them and relying on your marketing activity and/or word of mouth to bring in the next sale?

Ignoring Promotion tracking. How many marketing activities can you honestly say were a success, or even a failure, and how are you determining this? If you are using “sales are up, so it must have worked” or even “it seemed to be busier”, as your measuring stick… then get another stick!

# 2 - Buying Process

Buying what YOU like the look of, or think will sell. Many retailers tend to buy new lines based on what they personally like the look of, or what their gut tells them might work. Perhaps they will even rely on what their suppliers recommend. This is okay, so long as you have already done your own research on what styles of products and at what price points, are working best for you.

Make sure you keep emotion out of the way and don’t allow your own tastes to sway you away from other lines that you may not like but your customers do. As for dealing with suppliers, (or even how suppliers should deal with retailers), that’s an entire article in itself, so perhaps another time.

Huge percentage off sales. I remember when Myers Australia had their first ever 10% off sale. It was phenomenal. I was serving behind the counter at the time and literally had to give up all breaks for the day and run to the toilet, to keep up with the queues of people wanting to buy! So successful was it that they did it again a few months later… and again… then everyone else caught on to the idea and before you knew it, 10% sales were commonplace. Next was 15%, 20%, 25% and so on, and here we are today with commonplace 50% off sales, even 70%… get my point yet?

# 1 – Old School Performance Management

“It’s my way, or the highway”. ‘Old school’ performance management systems are becoming less and less effective. Put simply, written warnings and potential job loss fear tactics rarely work on people who know their rights and are far more protected by government policies than we ever were when we started out in Retail.

‘Old Style’ Recruitment Processes. Retailers tend to rely on ‘industry standard’ Job Descriptions and Job Advertisements, which have basically been regurgitated for generations. Meanwhile the likes and needs of the current generation are not necessarily attracted to such outdated expectations.

Assuming Prior Knowledge of Expectations. Even if you hire someone who has ‘done it all before’, remember they have only been ‘doing it all’ based on what someone else has taught them. Also, “Common Sense” is now more like “Rare Sense”, so never assume that they will do the right thing, just because a situation calls for it, as they may not know what the right thing to do actually is!

Relying on Commissions to Drive Performance. I have surveyed hundreds of potential employees and the results may well surprise you, believe it or not MONEY is NOT the primary motivator for over 70% of those surveyed! A basic need yes, but not the primary thing that ‘gets them going’ or makes them perform to their best, so how can we expect something that only motivates 30% of the people to drive performance on ALL of them?

Keeping Company Performance ‘Under Wraps’. One way to encourage ‘buy in’ to your vision and goals is to be more open with how the business is performing versus where you want it to end up and how you plan to get there. If everything is kept ‘hush, hush’, then how do they know where the goalposts are and what impact they are personally having on driving your business forward? You don’t have to show them your profit and loss statements, just ‘share the dream’.

Next week I tell you what’s NEW that works better than the above ‘outdated’ methods of running a retail business. In the meantime, why not connect with me? Here's my world, choose your poison :)

LinkedIN | Blog | YouTube | Twitter | G+ | Facebook | Pinterest

The best of me to you,
Bryan Young, (Mr Retail), MBA
CEO and Founder of Retail Rescue

Retail Business Mentoring, Stock Control Training, Retail Sales Training, Retail Marketing including Social Media, Customer Loyalty, Staff Performance Management, Cash flow Planning, Business Structure, Personality Surveys and Retail Operations Seminars.

info@retailrescue.com
http://www.retailrescue.com

NOTICE: Content in this article has been provided in a generalised format and is not recommended for every business model. Seek council from your financial advisor before implementing anything contained herein.

See Mr Retail Live at the Brisbane Gift Fair

2014-07-02T16:32:00.001+10:00

Are you going to the Brisbane Gift Fair this weekend?

If so, why not attend one or both of my two FREE seminars at the Spotlight Centre Stage?

Both seminars will be about 20 minutes in length and will cover the following subjects:

Saturday and Sunday at 1pm:

Self-Selling Merchandising and creating the "Wow" factor

There is an art to Merchandising and thus many can struggle with how to best present their offerings. This seminar will teach you the basics and includes things that even the experts get wrong!

How to ‘tell the story’ of what you are all about.
Generating “Wow” in your store, your brand and your people.
Making complimentary items, (“Add-ons”), sell themselves.
Where to position Impulse Buy lines.

Saturday and Sunday at 2pm:

Establishing a point of difference

In today's competitive market it is becoming ever more important to find ways to stand out from the crowd. This seminar talks about how you can develop your own unique selling proposition, (USP), and then market it.

Remove misconceptions of what “point of difference” means.
Taking “Price” out of the equation.
Consolidate and grow.
Naming your Brand.
Ways to market your brand.

Bryan Young A.K.A. Mr Retail will also be available in the Ask The Expert area on Saturday and Sunday from 3pm onwards.

See you there!

In the meantime, why not connect with me? Here's my world, choose your poison :)

LinkedIN | Blog | YouTube | Twitter | G+ | Facebook | Pinterest

The best of me to you,
Bryan Young, (Mr Retail), MBA
CEO and Founder of Retail Rescue

Retail Business Mentoring, Stock Control Training, Retail Sales Training, Retail Marketing including Social Media, Customer Loyalty, Staff Performance Management, Cash flow Planning, Business Structure, Personality Surveys and Retail Operations Seminars.

info@retailrescue.com
http://www.retailrescue.com

Google launches Google my Business: How to engage with customers and get found online!

2014-06-19T21:28:00.000+10:00

Google has announced the launch of a new tool, Google My Business, to help small businesses connect with their customers. By putting your business information on Search, Maps and Google+, the new tool lets your customers find you across Google. Businesses can post content, track analytics, revert back to customers and launch Google Hangouts all at one place.

Google launches Google my Business. Image courtesy of Google for Retail Rescue.

How to Get Started:

Click on the “Get On Google” button to sign in. This will take you to Google Maps. You can use the search box on the top left side, to type in the name of your business and Google will display a list of businesses which match your search term. You can then select the relevant one from the list. If you already have a Google account, you can click on the settings tab and then select “Create new page” or “View all pages” to go to an existing Google+ page. Non-local businesses can also get started on the system by clicking on the “Not a local business” option.

Apart from new businesses, current users of Places for Business and the Google+ dashboard can also use the new tool. If you are creating a new page, you must be authorized to manage the business listing. Google will send you a verification notice to confirm the same. Following this, you will be asked to create your profile page, adding all relevant information about your business. If you already have existing pages, you will be directed to the Google+ dashboard, where you can manage your profile by selecting a page.

Here’s a video from Google on the new tool:

How Google My Business is Helpful for Businesses?

Stay Updated: Businesses can update their information like address, contact numbers, opening hours and more on Search, Maps and Google+ at one place, so that customers can easily connect with them.
Tell Customers How Your Business is Unique: You can add beautiful photos and virtual tours of your business to show customers how your business is unique.
Connect With Customers: Share news, events and other updates from your Google+ page to better connect with your customers.
Respond to Reviews: Read and respond to reviews and stay on top of reviews from across the web.
Know How People Interact With Your Business: Use custom insights and integration with AdWords Express to understand how people interact with your business.
Mobile Optimized: Manage all your business information on-the-go with the android app for the new tool. Google will soon be launching an app for iOS devices as well.

Most Retailers Fail - here's why - part 2

2014-06-17T11:53:00.000+10:00

In part 1 of these two articles I gave you 3 of the 5 top reasons why retailers fail, namely:

# 5 – Ineffective Marketing Strategies

# 4 – Poor Tracking of Market Trends

# 3 – Inefficient Human Resources

Today I give you the remaining 2 top reasons. Plus I will tell you the one thing you can do, above all else, to prevent all 5 of these issues from happening to you.

If you don't like reading that much, perhaps you would rather watch a video I just made, where I cover both parts of this article all together. If so, go here.

Otherwise let’s get straight into it; here are the top 2 reasons why Retail Businesses fail:

#2 – Cash-Flow!

Insufficient funds management. At the end of each financial year, your accountant gives you a copy of your profit and loss. Unfortunately many retailers are allowing themselves to be ‘too busy’ to actually do something with this, choosing to take a cursory look over it, perhaps shed a tear and then file it away. This profit and loss needs to not only become a part of your strategic business plan but also used for forecasted budgeting and as part of a Cash-flow plan.

For example, there are certain times of year when you need more funds than other months, to cover increases in variable expenses, such as marketing and wages, as well as stock/inventory levels. By looking back at previous years, you should be able to determine when your peaks and troughs are most likely going to occur again this year and thus predict when funds should be available to cover said needs. Rather than spend extra funds as they come in, on lower priority issues, bank them away instead, ready for when it will have a more useful impact.

Inability to interpret Data Analysis or failure to act on it. There are many types of data available to retailers but few seem to know how to analyse it, let alone what to do with the results. Whether it be benchmarking the industry to determine your own over/under spending and opportunities for growth, monitoring of marketing effectiveness, tracking of KPIs, (e.g. wages versus return), department performance… you name it; most retailers are too ‘old school’ to know what it all means. By relying on ‘gut feel’ and emotion to guide most of their decisions, they will only ever be able to maintain the same level of performance they have always achieved and will find it very difficult to grow the business. Everything they need to know is actually at their fingertips but accessing it requires the know-how.

Stock/Inventory Control missing the mark. Consumer trends change regularly, (just ask anyone in Fashion), and one example of poor use of data is not monitoring the performance of every department, including their ‘sweet spot’ price points; this is a great way to lose a great deal of money. Keep your fast moving lines stocked up and then, (if funds are available and budgeted for), look at what is currently trending before deciding on any new range items. Suppliers can easily tell you what their top selling products are but make sure you select from what falls in line with your best performing departments and sweet spot price points. Some demographic locations also do better than others in products that appeal to certain age groups and even race. So have your latest market research handy as well.

Another issue is the handling of old stock. Many don’t have an actual process in place to avoid items becoming stale in the first place, let alone ways to deal with it once it does. Proactive is better than reactive, so make sure you have steps in place to handle aging lines before the need for clearance. Also have a clearance process that is not only effective but of least detriment to your bottom line. I would love to take you through an effective process but there’s only so much one should cover in one article.

Experts are cheaper than ignorance. If the expertise to analyse data and/or to grow your business is simply not present in your business, or perhaps personal bias is getting in the way of needed changes, try getting an expert involved. An outsider will not have your bias and will be willing to point out issues that may otherwise go unnoticed or be avoided, such as changes in the industry making your current business model obsolete. As for cost, when you take on a mentor, for example, it will cost less than hiring just one extra casual staff member in your business, yet they will almost certainly increase your bottom line dramatically, probably even saving your business altogether; try asking a new casual staff member to do that. A good mentor/coach will ‘pay for themselves’ many, many times over.

So what is the number one reason for retail business failure?

# 1 – The Owners Themselves!

Poorly trained/qualified or not suited. Before commencing any business, owners need to be suited to what they are about to take on. If you don’t have the passion and the know-how, you will not enjoy what you do, or be good at it. For some reason, many who get into retail don’t recognize this and seem to think it’s just a matter of deciding on what to sell, where to sell and how to market it. The truth is; there is just as much expertise required in retail, as any other business.

I have lost count of the amount of owners I have met who are pretty much ‘winging it’. Many have completely different backgrounds, (e.g. I have a couple of ex-accountants as clients), but just want a sea change. Or perhaps they excel at making something and want to start selling their beautiful offerings. Being good at one element of running a retail business does not mean you will be good at all the rest.

We commonly accept we need a Degree to be in Marketing... a Degree to be in Human Resources and… you get the idea... yet many Retailers try to do ALL of these things, as well as Buying, Merchandising, Sales Training, Managing Cash Flow, you name it, and all without much, or even ANY form of training. As a result, they tend to rely on what they see others are doing in the same industry, or perhaps on what the last owner taught them. This wouldn’t be so bad if doing what others have always done wasn’t more of a guarantee of failure than success. Plus, constant changes in the industry, (don’t get me started on digital advances), mean that the tried and proven is only relevant to the era they were tried in.

Taking on too much. In an effort to ‘save money’, many owners don't want to spend what it takes to get properly qualified staff and this results in their lack of confidence in delegating crucial aspects of their business to unqualified people. Thus they end up trying to do everything themselves, using what methods, policies and procedures they personally think are best, whilst often wondering whether there is a better way.

Business Structure. Structure your business so that everyone plays an active role and the right people are in those roles. If there’s something you currently control, but aren’t really good at, then give it to someone who is. Invest in some basic training for yourself and the people you need to do specific jobs. Identify everyone’s strengths and advance on those. You need to free up your time to do what you do best, not wondering where the day went and why nothing ever seems to get finished.

Outsource the too hard basket. Many smaller businesses can’t afford to hire degree qualified staff, or simply don’t have enough work available for certain roles e.g. human resources, marketing, (including social media), sales training, data analytics, store and staff assessments, loyalty harvesting and so on. If you are in this situation, try outsourcing instead. Rather than have an employee that has all sorts of entitlements, such as minimum hours, holiday pay, sick leave etc, an outside company, will simply invoice you only when you use them. Plus they will likely be more qualified and thus provide superior results than a part time employee or possibly even yourself.

And now for the number one best thing you can do to help prevent all issues in your retail business... drum roll please...

Preparation!

It sounds simple but lack of preparation is the biggest weakness in any business. President Lincoln once said “Give me six hours to chop down a tree and I will spend the first four sharpening the axe”, and he was right on the money.

You will have heard of the term "A.G.M." which stands for annual general meeting; well this is something rarely practised correctly, if at all, in retail. In fact these meetings quite often lose focus. I was once invited to a massive AGM, where hundreds of Managers from all over the country attended, all expenses paid. They were treated to two days of being told how well the business traded the previous year and what was planned for the forthcoming year. There was entertainment included and even an element of training.

Afterwards, the owners, looking proud as peacocks, asked me what I thought about the event. I told them that apart from the morale boost and the training element, they had completely wasted their time and money… needless to say they were shocked.

You see an A.G.M. is meant to be when those who are good at having a positive impact on your business are called together to pour over the profit and loss, key performance indicators, sales reports, department reports, pricing sweet spots, marketing and merchandising effectiveness, supplier reports, channel distribution effectiveness, CRM and customer service experience, staff selection process,buying strategies, latest market trends, store setup/layout… and so on.

They then determine where improvements need to be made and set realistic budgets. Sure, you can add some fun element or even training, but always stay focused on the true purpose of this gathering; to prepare all business drivers for growth and update the business plan strategy. Once you have done so, remember to monitor throughout the year and fine tune where necessary.

Seeking help is strength, not weakness. If your plumbing springs a leak, you call a plumber, if your electricity goes haywire, you call an electrician, yet when the business that feeds your family is under duress what do you do? Unfortunately most would rather each for the ‘excuses and reasons why’ book, than call an expert. Don’t let pride get in the way of success, get help and get back on the track of growth. By calling on a retail expert you are simply making use of the resources available to you, not showing weakness.

I hope you found these articles helpful. Keep following me for future articles on retail, where I continue to supply Plain English answers to running a successful retail business. My next two part series will be on the top 3 traditional methods of running a retail business that no longer work, as well as what new ways ARE working instead.

In the meantime, feel free to contact meif you need a retail expert involved in your business. I’m cheaper than a casual...

By the way, here’s my world… choose your poison.

The best of me to you,

Bryan Young, (Mr Retail)
Retail Rescue CEO & Founder
"Less Talk... More Action"

Most Retailers Fail - here’s why - part 1

2014-06-07T09:47:00.001+10:00

Depending on which country you are in the percentage rates vary, however it is a fact that most retailers fail within the first five years, across the globe. There have even been many big names go under, so I thought it would be a good idea to disclose the reasons behind most failures, in the hope that “forewarned is forearmed” and thus hopefully help any new or struggling retail business owner.

Today I will highlight 3 of the top 5 reasons why retailers fail.

Next week I will give you the top two.

No. 5 – Ineffective Marketing Strategies

Poor marketing plans. Many retailers tend to market their business as the year progresses and only if the funds to do so are available at that time. Their plans also often concentrate on main events only, e.g. Christmas, rather than business specific events as well, such as V.I.P. nights. Make sure to plan 12 months in advance and then budget for funds to be there.

Poor tracking, resulting in use of wrong mediums and limited impact. Money spent on advertising needs to go where it will have the biggest impact and now, with the advent of so many new options to promote with, (social media for example), it has never been more important to track the effectiveness of every promotion. Using things like ‘calls to action’, e.g. traceable coupons/vouchers, “what brought you in today?” and door counter analytics for conversion ratio, will definitely help in this area. Also note the amount you spent on each medium versus the profit made from any increase in sales compared to the same time last year. If any medium performs poorly then don’t use it again next year, or reduce money allocated to it.

Poor Customer Base Utilisation. It's a proven fact that 80% of sales come from 20% of customers. These are those loyal few who have decided you are the best place to go, for the types of offerings you supply. They rarely consider comparing your prices as they have already decided you provide the best VALUE for their needs.

The other 80% have no loyalty to you and are mostly motivated by price, or to be more accurate, by perceived value. If they don’t perceive you as being the best place to go, they will scour catalogues for what they THINK is most important i.e. best price.

And yet most retailers will spend copious amounts on advertising trying to attract fresh customers and using price as their reason to shop there. The exact thing that 80% of non loyal customers are attracted to. Meanwhile they spend very little on nurturing, rewarding and encouraging repeat custom from their existing 20% of loyal clients. Just how much more profitable would they be if their loyal customer base was sitting at 30%, or more? As little as 10% more sales can easily be the difference between a failing business and a successful one.

# 4 – Poor Tracking of Market Trends

Monitoring Industry Key Performance Indicators, (K.P.I.s), is important if you want to know how well your business is doing, compared to your competitors. If others are spending way less on wages, or rent, for example, then what are you doing wrong and how can you fix it? Perhaps they are spending more on marketing… compare your KPIs against industry averages and then act where necessary.

Demographic Research is often done before a business commences trading, but rarely repeated thereafter. Meanwhile changes are occurring in virtually every local community on a regular basis; perhaps a university opens, attracting the youth market to the region, maybe a retirement village or aged care facility opens up, bringing an older market… even a new shopping centre nearby will affect things. Make sure you refresh your demographic research yearly, or at least whenever the latest census results are released; then assess your range of offerings and price points accordingly.

Market trends change regularly, just ask anyone in Fashion for example. If you aren’t monitoring these trends then you will probably continue to promote and range the same products you always have and wonder why sales are down as a result.

# 3 – Inefficient Human Resources

Inability to Attract and Retain the Right Staff, let alone maximise their skills. If you’ve ever used personality tests, you will know there are certain types of people who are more likely to succeed at certain roles than others. For example, people with outgoing, persuasive personalities are often better at selling than the more reserved type. Meanwhile a good salesperson is often not so good at administrative tasks, such as filling in repair details and following up on issues.

Unfortunately there are way too many people in retail who are simply not suited to their roles and when they are constantly stepping outside of their comfort zone, they get stressed and thus start blaming whatever they can find, (other than their own personality), before usually looking for work elsewhere.

Half the problem is in the presentation of the role itself. If you need someone process driven to handle payroll and accounts, then make sure you advertise the fact. Use the right types of wording in your advertising to attract the most suitable applicants in the first place. Then use a personality test to make sure they aren’t pretending to be someone they are not, (just because they need a job).

Make the work environment and any incentives relate to the personality type too. For example, a simple “job well done” works best for reserved people whereas commission drives sales minded people. Yes, we all like a little extra money but some are far more motivated by it than others. Find out what motivates each individual and then think of ways to appeal to that, before the need arises to limp down the warnings process and performance management path.

‘Stay tuned’ for next week, when I will give you the top 2 reasons why retailers fail. I will also tell you the one thing you can do, above all else, to prevent all five of these issues from happening to you.

In the meantime, why not visit my profile and follow me?

In fact, here’s my world… choose your poison.

The best of me to you,
Bryan Young, (Mr Retail)
Retail Rescue CEO & Founder

NOTICE: Content in this article has been provided in a generalised format and is not recommended for every business model. Seek council from your financial advisor before implementing anything contained herein.

Breaking News - This year's Digital Marketing for Retail Master Class will be in Kuala Lumpur!

2014-05-31T13:11:00.000+10:00

Digital Marketing for Retail Master Class

This year's Digital Marketing for Retail Master Class will be held in Kuala Lumpur, June 18 - 19, and will be presented by Mr Retail himself, Retail Rescue's CEO and Founder, Bryan Young, MBA.

Tickets are selling fast, so if you are interested in learning everything to do with using digital marketing to grow your retail business, across 2 days of intensive training, then make sure you book now!

Click Here or on the below picture to download the Digital Marketing for Retailers pdf.

See the subjects covered and agenda for the 2 days, then print the last page, fill it in and fax it to the number provided, or email as an attachment to the email address also provided.

Remember, Mr Retail is renowned for providing ANSWERS, not just a bunch of questions for you to think about, plus he speaks in Plain English, so you will leave with a genuine action plan designed to make a significant and immediate positive impact on your business. We'll see you there!

Mr Retail Marketing Tips

2014-05-03T12:18:00.000+10:00

The Art of Marketing has changed...

Integrating Social Media and Loyalty Programs into your Marketing Plan is now the key.

Welcome to part one of Retail Rescue’s three part series on how to put all of the Marketing pieces together, now that the internet has dramatically changed the rules.

Having just completed my MBA, I was somewhat surprised to learn how little focus is being placed upon the major marketing changes coming via the internet these days. There is still a great deal of emphasis on traditional methods of marketing, simply because these methods are tried and proven whereas the Social Media aspect is certainly discussed and embraced but very little methodology on how to best maximize it’s usage is taught. Plus one MAJOR thing that seems to be missing, is how to tie it all in together with Loyalty Programs effectively.

Traditional versus Social

What works better, Traditional advertising mediums or Social Media and Internet Solutions?

By “Traditional” I am referring to the types of Marketing we grew up with and know as proven performers, such as:

Television and Radio Advertising

Print Advertising such as Newspapers and Magazines

Cold Calling by Phone and Door to Door

Mail-outs like Flyers and Catalogues

Street Signage like Billboards, Banners and on the Back of Buses

In Store Loyalty Programs linked to Rewards and Events like Closed Door VIP Nights

Networking Events including Trade Shows and Chamber of Commerce

I’m sure some of you ‘cringed’ at Cold Calling being on the list but let’s face it, they wouldn’t keep doing it if we didn’t keep falling for it!

As for “Social”, I am actually referring to internet trends, not just social media, things like:

Interacting with Friends and Followers via Facebook and Google Plus
Networking and announcements via Twitter and LinkedIn
Showcasing anything on video via YouTube
Providing ever changing content and event activity via Blogging
QR Codes linked to Mobile Friendly Websites and Instant Mailing List Signups
Targeted Marketing via Adwords, Facebook Advertising and Email Mailing Lists
Professional Newsletters and Offers to email and RSS Feeds
Search Engine Optimization to get your Website higher on the list

Yes, there are things not listed on each of the above, but I am generalizing at this point, so forgive me if I didn’t mention your favourite Promotion Method.

So what works and what doesn’t? Is Traditional Media Dying?

The truth is that Traditional Media is far from dead and is still as effective at reaching an audience as it ever was, however… and here’s the big thing to note, even though its reach is still strong, its ability to convert viewers into shoppers is indeed diminishing and the reason for this is also the solution!

The Internet has already proven itself as a great source of information and access to cheap online purchasing. The problem is that it is also a great place to get ripped off! What you see online may not be what you actually get and you would think that the buyers out there would figure this out and start moving back to shopping only in physical stores but this is not going to happen any day soon, unless that local store ALSO has an online presence. Sorry if that is hard to take but the reason why it won’t happen is simple… the smart mobile phone revolution! As Human Beings we have a built in need to find ways to make life easier for ourselves and will always lean towards the easier option, should one present itself. Smart phones are indeed presenting more and more ways to make our lives easier and thus users of smart phones are basically ‘addicted’ to them; they just can’t help but to turn to the thing in their hand, rather than go all the way to a shop!

Meanwhile Identity Theft, SPAM, Hackers, Viruses and Online rip-offs etc are having a field day and causing distrust as a result. So on the one side, smart phone convenience shopping is fast educating users to no longer have Loyalty to their local businesses, whilst on the other side they are also becoming more and more wary of dealing with pretty much anyone. But rather than give up this easy shopping method, shoppers are ‘arming themselves’ with the knowledge aspect, also available at their fingertips, and just becoming more astute as to which store gets their money, whether overseas or locally.

So here’s the thing, if you don’t have an online presence and a strong plan to CONVERT people on your web site, then you are allowing your competition a significant advantage as more and more consumers turn to their phones to pre-pick the store that has the best deal before they buy online or even leave their house.

So what’s the Answer, do I drop Traditional Media and turn to the Internet or not?

Advertising on the Internet may appear to be extremely cheap and thus very attractive as an alternative to expensive traditional media streams but the truth is internet marketing will cost you just as much!

“But Social Media is FREE isn’t it?” I hear you say and “no it isn’t” is the answer… why? Because it is only free for as long as you don’t do anything with it! The moment you use it to promote your business you are up for pay as you click advertising and here’s the killer, the cost of having someone to properly run it all. Wages are not cheap these days and chances are you never budgeted to start our own Marketing division in your business, yet here you are paying someone to constantly update and drive Social Media campaigns! Work out how many hours that person is dedicating to doing this, even if it is yourself, then times that by how much their time is worth… now add on any pay per click fees, (on average $300 per month), and that’s how much your Social Media is costing you. We haven’t even discussed website costs and yes, you really should have one… we talk more about websites next time.

This is where I get the comments like, “we only need to dedicate an hour per day to Social Media, so it is still not costing us much”, or words to that effect, but if you ARE only dedicating the odd hour or two then the chances are you are also not really experiencing much growth from it either! How are you tracking your growth by the way, are you simply looking at last year’s figures and saying, “well, we are up 10%, so it must be working”, or do you actually analyze what component of your business is coming from traditional media drivers-to-store versus internet drivers and instant closers?

In answer to the last header question, as to whether to drop traditional media in favour of the internet, the answer is “No, simply do both!” Integrating Traditional and Social will work if used in the right way, however, the trick is to identify which type of Marketing Tool will have the biggest amount of impact for your particular needs, your demographic location, at the right time and according to your available funds. That includes your long term promotions, namely Branding and Loyalty.

Put simply, don’t stop using traditional media, just reduce how much money you allocate to it and then allocate those funds towards Internet Advertising instead. Take note however, if you are not using Social Media you are missing out on the biggest marketing tool since the invention of television! Make no mistake, your competition is using it and experiencing growth as a result… are YOU using it? By the way, remember what I said, if you ARE using it and not seeing growth, then you are doing it wrong and we can show you how to do it right through one of our Magnetized Marketing Seminars.

“If you are not using Social Media you are missing out on the biggest marketing tool since the invention of television!” – Mr Retail

Now, before you do ANY type of advertising, because your funds now need to be split across both Traditional and Internet, it is more important than ever to analyze which traditional mediums are currently working for you and which other Social ones are most likely to do a much better job for the same cost. In other words every business’s marketing plan needs to be tailored specifically to tie into their overall strategic business plan that now includes an online presence, and if you don’t have such a plan, before you go any further, you need to get one. Once you have a Business Plan that maps out where you want to be in the Marketplace, e.g. in a niche market or just the best there is in a specific arena, you can discuss what process needs to occur to get there.

Here are some examples of what I mean by that:

What’s the best location for the business we want to become, e.g. destination main street store, high traffic shopping centre, online or both?
What Point of Difference do we offer for the type of Product/Service we wish to promote?
What type of Clientele are we trying to attract and thus what types of Media Mediums would they most likely use the most?
Is there a strong presence of the Clientele you wish to attract, in your Demographic? If you are not sure check the latest Census report.
How much does it cost for each of these mediums, what level of ‘penetration’ and at what times of year are they most likely to be effective?
How well does your budget correlate and how far in advance should you be planning each activity?
How are you going to manage the back end of your activity, in particular measuring the effectiveness of each medium?

Sure there is more than just the above, staffing levels and training for example, but you get the idea. Mind you, if you need help with doing all of this, contact us.

Once this has all been ‘laid out’, you can then start to put your chosen mediums together and generate your very own Marketing Plan.

Keep following our Blog over the next few months to learn more about putting the Marketing Puzzle together.

Watch for Part Two Next Month: QR Codes and Mobile Websites.

Learn what QR Codes are and how to use them effectively. We discuss why you need a website and how to get it to actually work for you. We compare Mobile websites with ‘normal’ websites. Plus, we cover which Social Networks work best for Business.

Until then…

The best of me to you,
Mr Retail

How to keep the best staff

2014-05-01T09:08:00.000+10:00

Would you like to have the best people on board, thriving and growing with your company, never wanting to leave?… The secret to attracting and retaining quality people can be illusive, yet amazingly simple: give them what they want and then give them what they need.

Give them what they want? – that’s easy: an interesting, suitable job with good pay and conditions. But what do people need? – you ask. Isn’t it the same as what they want? Not necessarily – their deeply seated needs are rarely articulated in job applications. Knowing what they are, I propose, is the cutting edge for human resource management in your organisation.

Tony Robbins, a world-renowned personal development expert, suggests that every human being has six core needs they constantly seek to satisfy in life to the highest extent they can:

Love and connection
Certainty
Variety
Significance
Growth
Contribution

It is said that if you meet someone’s two core needs to a high level (80% or more), there is a connection. If you meet their three needs at that level – you create a bond. If however, you satisfy on a regular basis someone’s four or more core needs to a high extent – you’ve got their commitment and loyalty for life (they’ll never want to leave you!).

In my view, this concept perfectly encapsulates the win-win approach to the contemporary human resources management, which I propose as a simple, 6-step model that you can easily implement today in your organisation.

Consider:
Love and Connection
Give your employees the sense of belonging and genuine connection with the company: an open door policy for managers and executives, non-hierarchical attitude in social interactions, and broadly implemented, not only written, principles of workplace diversity that will help people feel more “at home”. Encourage socialising and cultural activities. Be interested in learning more about your people, while respecting the boundaries of their private life.
The message: You are one of us.

Certainty
This need is not only about job security of an individual employee, as it extends to the sense of stability and direction of the organisation. Frequent, staggered or poorly executed changes – strategic and tactical; weak leadership, lack of direction and forever evolving corporate messages will undermine the employees’ trust in the company strength and stability; in short – in its future. To meet this need of its staff, an organisation must have a clear vision, goals and plan, congruently executed at the executive level and across the ranks.
The message: We know where we are going – come with us.

Variety
Give your employees a range of tasks with varied levels of complexity. Break the monotony as it leads to boredom; from time to time abandon the routine and simply go with the flow. Encourage ideas and initiative, run brainstorming sessions; introduce different formats and venues for meetings. Create an engaging and stimulating work environment to the extent you can.
The message: We want to engage you in many different ways.

Significance
This need translates into regular, constructive feedback, appreciation, acknowledgement, recognition, reward, respect and genuinely valuing the individual’s work and their role in the organisation.
The message: You are valued.

Growth
Give your staff opportunities for promotion, acting at a higher level, sideways moves to gain new skills. Ensure they have challenging tasks and projects with responsibilities that stretch them from time to time. Encourage enrolments in personal and professional development training programs (depending on your budget). Be creative in the design of the Personal Development Plan template – it needs to be a living document, not dead!
The message: You can grow with us.

Contribution
Invite people’s feedback, comments and inputs in writing and in conversations. Be open to hear and consider different points of view, accepting them (when appropriate) as often as you can. Discover, utilise and trust people’s expertise gained in other jobs throughout their lives. Delegate fearlessly, don’t micromanage, give people the ownership of their patch of work.
The message: Your contribution is important.

Effective human resource management is really quite simple: Give people what they want and then give them what they need – to build a healthy, productive and holistic workplace whose market value and human capital will continue to grow.

Originally posted by Anna Anderson on the Quantum Mind Blog

What Millennials Can Teach Boomers About Complaining

2014-04-03T09:54:00.000+10:00

This a guest post by Bill Bergman, President and CEO of the Bergman Group, a Richmond, Virginia based marketing and communications company, and an adjunct instructor at the University of Richmond Robins School of Business.

If a product or service lets me down, my first instinct is to pick up the telephone and talk to a customer service representative. In college, I even called General Motorsheadquarters in Detroit to complain when the local Dallas dealership didn’t service my Vega properly. They gave me a free tow and service.

But lately I’ve noticed that the rules of engagement have changed. Now the more I shout on the telephone at my bank, the airlines, health insurance companies, or cable operators, the more my blood pressure rises, but without any resolution of my consumer complaint. Having spent decades honing my irate telephone persona, I find that skill is as out of vogue as my loose-fitting blue jeans.

During the past six months, I learned to ratchet down my voice and use social media to channel my fury. With the sage advice of some of my polite millennial students and younger employees, I have added digital tactics to my arsenal. The results have been stunning.

This road to enlightenment was paved with humility. Last summer, my marketing firm had a problem with GoogleAdWords. I asked our AdWords manager to call them and work it out. He laughed at me and explained that he would “open a ticket” online and they would respond within a couple of business days.

After two weeks, we had no resolution, so I called the Google office in California, ready to use my “special skill.” It took about five minutes to get a live person on the phone who quickly informed me that it was “against company policy for customers to call in for help.” Instead, I had to “follow the appropriate digital protocol.”

Following “protocol” drove me crazy. We clocked 41 emails with a Google account rep. The company offered us a measly $500 credit on a $20,000 billing error. Our team even started an office pool to bet on when we would resolve the problem. Then, after much complaining around the water cooler, I got some good advice about using social media to put pressure on Google to respond, on the theory that if any negative tweets were out there, Google would find them. I funneled my outrage into a new medium with tweets like this one.

@Google is the best for helping our clients build web traffic. What about #google billing dept.? Why will no one help us? Any suggestions?

— Bill Bergman (@BBergman) August 5, 2013

After a morning of tweeting, my AdWords manager received an email from Google explaining that a call was being set up to resolve the issue. No one at Google ever reveals his or her last name or direct telephone line to a customer. But our three-month ordeal eventually led to a phone call with a Google representative who authorized a full refund.

I was placated – that is, until my shave club let me down. I am signed up for delivery of four razors a month, but one month I did not receive my razors. I went to their website to find a telephone number to call. Unfortunately, the only option was to email customer service and wait for the promised response within 24-hours.

After sending two emails and waiting three days, I again took to social media for help.

@DollarShaveClub hasn’t sent me my blades this month. Are they having problems? Even emailed them with no response.

— Bill Bergman (@BBergman) February 21, 2014

It took a morning of tweets in a similar vein until I received an email with an apology and notification that my razor blades were on their way.

The next demon was my wristband that measures steps and sleeping. When it stopped taking a charge, I went to the manufacturer’s website, followed the prompts, and sent an email with a plea for help. Within a few hours, they responded with instructions to solve my problem along with an offer to replace the band if the instructions proved unsuccessful. Their new instructions worked. By then, though, I was a calm, practiced expert in accessing help without speaking to a live person.

These experiences have made me a convert to customer service without human contact – call it digital dispute resolution. Here are the steps to take.

1. Don’t call.No matter what happens, don’t succumb to your first instinct. Let your anger dissipate before you do something irrational like trying to have a conversation with an automated phone tree.

2. Go online. After a few deep breaths, go to the company’s website and try to calmly figure out the protocol for issuing a complaint or asking a question. Note the promised response time. It can range from a few hours to a few days.

3. Apply social pressure. Most companies are good at responding to email requests. If the company doesn’t respond after you make at least two attempts, then turn to social media. Use a hashtag: a word or phrase proceeded by the pound sign (for example, #google); it tags a topic on social media for those monitoring it, including staff members inside an organization. If negative comments start “trending” (social media speak for appearing often), someone will quickly contact you to mitigate any negative chatter.

4. Make no assumptions. As my Google experience illustrates, the protocol varies from one company to the next. Just because something worked for you with one organization, don’t get too comfortable and think it will be equally effective somewhere else. It’s up to you to get with the system.

5. Say “thank you.” If you complain in public, say thank you the same way, as I promptly did when the Dollar Shave Club made good:

@Ask_DSC You guys are the best. Thanks for the credit. I’m a loyal fan!

— Bill Bergman (@BBergman) February 21, 2014

At the end of the day, it pays to be nice. Who knows, the company may have an “open ticket” on your behavior.

5 ways to boost Facebook organic reach

2014-04-01T08:31:00.001+10:00

In January, Facebook finally owned up to what social media marketers already knew, admitting that the organic reach of brand pages is diminishing. The social giant even went as far as encouraging brands wanting to be seen to buy ads on the platform.

While the idea that buying ads might become necessary to make an impact on Facebook is frustrating, it's simply a reality marketers will need to get used to. Now that you know organic reach is shrinking, how can you still make sure your posts end up in followers' news feeds? There are a handful of tactics to help circumvent the algorithm changes and keep posts from becoming lost in the shuffle. Here are five you can try today.

1. Tag other pages

If you make a post that is related to another page on Facebook, be certain to tag that page in the post. Last month, Facebook announced that posts in which pages are tagged will start appearing in users' newsfeeds even if they don't follow the poster. Basically, by tagging another page, that page’s followers can see your post regardless of whether they follow you. This could exponentially increase your message's exposure if executed well.

2. Include images or videos with every post

In Facebook’s January announcement about the algorithm changes, the site stated that text-only updates from pages didn’t receive as much interaction as those from users' friends. Because of that, the social network moved text updates from pages to an entirely different category. As a result, Facebook said page administrators could expect a decline in the distribution of text-only updates. Adding an image or video to every status will prevent those posts from being categorized in the less-distributed category.

3. Increase interaction with followers

It’s now more important that every comment, post, or message on your Facebook page is answered. The site places higher value on pages with heavy interaction. By replying to comments and posts, you are encouraging more interaction with your page, thus increasing chances that your posts will end up in followers' newsfeeds.

4. Use Instagram

Since Facebook owns the photo-sharing social platform Instagram, posts uploaded from the app will be more likely to appear in newsfeeds. Facebook bought Instagram two years ago for $1 billion and is trying to drive more users to the app. For that reason, posts from Instagram may be given priority over others – but as previously mentioned, every post should have a visual element now, anyway. Easy integration between the two platforms should just make it easier to double-down on your social media strategy.

5. Tell your followers how to see more of your posts

Brands that have worked hard to build a loyal Facebook following may be feeling the sting a bit harder than most, now that their posts are less likely to appear in news feeds. It can seem like all that hard work is being flushed down the drain by the social giant, but don’t despair: You can simply explain to followers that changing their settings will let them continue seeing your updates in their feeds. Posting step-by-step instructions on how to change news feed settings, organize the friends list, and/or change story preferences can go a long way.

By Wendy Parish
March 27, 2014

Avoid Substantial Fines by using the new Privacy Policy

2014-03-21T17:40:00.000+10:00

The Australian government is now in a position to enforce (as of 12 March 2014) the new "Australian Privacy Principle".

This video shows you where you can obtain a copy of the relevant documents and summarises the major changes. Please note that new fines are bigger and enforceable, but the compliance need not be onerous, as long as you:

Disclose information that maybe was collected anonymously, like IP address and data from "cookies"
Notify individuals when information is collected, how it is used and where it is stored
Improve the ability for individuals to opt out of marketing communications, and
Disclose when and where information goes off-shore and take responsibility for any breach.

Google Smartwatch Plans Come Into Focus

2014-03-21T11:04:00.001+10:00

The new Google mobile operating system, Android Wear, is tailored for smartwatches and other wearable devices. The software focuses on notifications and quick responses to show you information as you need it while keeping interaction to a minimum

Google has announced Android Wear, a version of its mobile operating system tailored for smartwatches and other wearable devices.

Instead of just adding phonelike features to your wrist, Android Wear will focus on notifications and quick responses. The idea is to show information as you need it while keeping interaction to a minimum. So while you’d still take out your phone to read through Facebook or write an email, you could use a smartwatch to check on a to-do list, view directions or scan your boarding pass at the airport.

Google Now, the search giant’s virtual-assistant software, will play a big role, serving up information on weather, flight times, incoming packages or upcoming reservations. Users will also be able to use voice search by saying “O.K. Google.”

But third-party apps and notifications will be just as important, which is presumably why Google is announcing Android Wear right now. Google wants Android developers to begin making their apps more wearable-friendly, though many app notifications will apparently work well without any changes. That’s a big advantage Google can wield over Samsung’s Tizen-based Galaxy Gear watches, which need to build up developer support from scratch.

Google isn’t ignoring the fitness angle either, as Android Wear devices will be able to detect speed and distance travelled.

The finer details of Android Wear’s interface are still unclear, but we can get a broad sense from Google’s developer siteand design guidelines. Incoming messages will be truncated to fit on the screen, but users can tap on it to see the whole thing. Multiple messages from the same app will resemble a vertical stack of cards, which users can swipe through.

From there, users can swipe to the right to take action on a message or notification. For instance, a messaging app could offer up to five canned responses and a voice-command button for dictating a more detailed response. A calendar reminder could show meeting notes with one swipe and offer directions with another swipe.

As for hardware, Google says it’s working with devicemakers Asus, HTC, LG, Motorola and Samsung and chipmakers Broadcom, Imagination, Intel, MediaTek and Qualcomm. Fossil, a more traditional watchmaker, is also on board in some capacity. According to Engadget, LG is already teasing a “G Watch” that will be aimed at developers. Motorola has also teased a round smartwatch based on Android Wear called the Moto 360.

The announcement does leave some unanswered questions and concerns. We don’t really know what the first Android Wear devices will look like or whether they’ve gotten over any of the technology hurdlesfound in earlier smartwatches. We don’t know exactly what screen sizes and dimensions and form factors Android Wear will support, beyond the generally square and round wristwatch screens Google shows on its developer site. And we don’t know how devicemakers will differentiate their hardware or how much leeway they’ll have to modify the software.

But with today’s announcement, we do have a sense of Google’s vision for wearable devices. It’s not a major departure from the company’s efforts with Google Glass — and maybe that was Glass’s bigger goal all along — but it’s altogether less creepyand better thought out than any other wearable software we’ve seen yet.

Breaking News - This year's Retail Store Management Master Class will be in Johannesburg!

2014-03-03T14:12:00.001+10:00

Retail Store Management Master Class

This year's Retail Store Management Master Class will be held in Johannesburg, April 22 - 23, and will be presented by Mr Retail himself, Retail Rescue's CEO and Founder, Bryan Young, MBA.

Tickets are selling fast, so if you are interested in learning everything to do with running a successful retail business, across 2 days of intensive training, then make sure you book now!

Click Here or on the below picture to download the retail store management pdf.

A small change in Retail Climate can boost your profits

2013-10-29T12:20:00.000+10:00

The climate, gravity and finance affects us all and not always in a complimentary way. But when we give ourselves a little makeover we feel fantastic.

A retail makeover doesn’t have to be a major expense or major hassle. Just a few small changes can really revamp your business.

This week we focus on Visual Appeal.

Your store, your staff and your marketing all need to visually appeal to your customers. Sounds a little saucy? But in reality, we all live in a very visual and at times fickle world. We all need to change things up a bit to keep life and business interesting.

It’s a proven fact that when something really appeals to us we get a rush of endorphins and adrenalin and a lot of people get that when they walk into a store that visually appeals to them. This will then translate into a desire to shop.

Visual merchandising is a marketing tool and is literally at the forefront of your stores appeal.

The Encarta world dictionary describes the work marketing as “Marketing is the business activity of presenting products and services to your potential customers in such a way as to make them eager to buy”

Think of some of the questions on the minds of your customers from the moment they see your store:

- Does this store have what I am looking for?

- Will the store be easy to navigate?

- Will I enjoy my shopping experience here?

Some of the small changes you can make will give you great rewards.

Look at the layout and visual appeal of your store. Is it cluttered, is the lighting making the store bright enough, can people with wheel chairs or prams navigate through the aisles, are products easy to find or groups into categories, are you and your staff friendly & well presented? Make the store more appealing so people want to spend more time there.

A simple mini makeover might be all you need to get on the right track.

Get the carpets cleaned; when was the last time the flooring had more than a quick vacuum or mop?

A few tins of paint may mean a little after hours labour, but check if the state of the walls are bringing the store down. White is always a great background for a visual merchandising story.

De-clutter displays, behind cash registers. Create a calm and easy to navigate environment for your customers.

Store extra stock and boxes out of sight.

Group similar items together, create a story, colour code your displays.

Create a shopping room on floor for a current promotion, it doesn’t have to be large or walled in.

If you have a display window in the front of your store, make sure you change it at least every 2 – 4 weeks. Keep it interesting and fresh. Re-paint the floor of the display, hang fabric or wallpaper panels at the back and have clear signage for new ranges or sales.

A revamped store layout or new décor will not only entice customers to browse/spend, it will also give you and your staff a bit of a moral boost. By creating a new climate in the tough retail climate we face every day, you will be providing a unique and pleasant experience for you, your staff and your customers.

One of the other ‘Visual’ tools of appeal is your staff. Make sure you give them strict guidelines for dress code, behaviour and general appearance. It is your business and you have a right to set certain standards for the appearance and behaviour of your staff. They are representing you and your business every time they work.

One of the most important things we can say to you is “never be afraid to ask for help”

If you would like a little or a lot of help to revamp your business, please contact Mr Retail himself at info@retailrescue.comor via the website www.retailrescue.com

We partner with you, not take over. We are here to give you the answers you need on a silver platter.

“Less talk, more action” - Mr Retail

Jewellery retailer calls for help - Retail Rescue offers help

2013-10-08T18:46:00.000+10:00

Jeweller Magazine recently reported on the decline of the well known supplier TUSKC. One retailer responded with a cry for help; read below for that letter and the response from Mr Retail.

Jeweller Magazine Article:

We receive a great deal of reader feedback at Jeweller, especially when we publish articles about internet retailing and the state of the jewellery industry. So it was no surprise that last week’s story about the closure of Tuskc generated quite a few calls and emails.

In particular, one reader’s letter stood out; it was an emotional outpouring about how much the jewellery industry and general retailing had changed in recent years. As the author says, “we struggle to match prices and lose customers to other industries vying for their money.”

We don’t normally make our reader’s letters the subject of a specific story, but in this case we feel the heart-felt explanation about the battle for small business to deal with the enormous change in the digital age is worthy of publication.

It’s sober reading and is both an analysis of the current state of general retailing as well as a jeweller’s call for help – “I need to be re-invented as a person. Just as the industry needs re-invention.”

He says he feels helpless and overwhelmed, so we have published the letter in full and, after verifying the authenticity, we have withheld the author’s identity by request.

Do you agree with his sentiments?

Do you find yourself in a similar situation and do you think an online "forum" would help in talking about the challenges small business face?

The Editor
Jeweller Magazine
South Melbourne, Vic 3205

24 September 2013

Re - Letter to Editor

Hi Coleby,

Thank you for your weekly newsletter and articles specific to the Australian jewellery industry, it is much appreciated.

I read the story about the closure of the supplier Tuskc, which highlights the fragility of the local industry and I believe, unfortunately, that there are many more companies also likely to close.

Our independent jewellery store has operated for nearly 70 years and spans three generations. I started in the family business more than 40 years ago, but I am increasingly worried if we will remain in business.

I have tried to keep up with all the new trends, hired internet advisors, started an online arm to the existing business, maintained an advertising and marketing budget of 5% of turnover, and invested in staff training and developing new in-house brands.

None of this has worked to the degree that the "experts" thought it should, but still they charged for their services, with little or no embarrassment. Consequently I now only hire outside help on a “payment for success” basis. Needless to say I don’t get many takers.

I adhered to the old mantra of “investing in your business” however I have found that is no longer a suitable hedge against the downturns. For example, I used to say that, “stock does not eat hay and therefore is a safe investment”; well, I now say that, “I can’t eat gold and diamonds.”

Stock is a millstone around my neck; it has no liquidity and I therefore cannot change the course of my business quickly enough to respond to new market conditions.

Wholesale credit is expensive, when you can easily get 5% to 7.5% discount by paying cash, so I am affected twice.

I am sure you have heard all these issues many times before and the main reason I am writing to you is not to rehash the problems or highlight my own failures. I am writing to suggest that Jeweller magazine acknowledges the plight of the jewellery industry on a more personal level.

One of the major causes of my own “dark” thoughts is the inability to discuss with others, within MY industry, what is actually happening on a personal level.

I have invested a lifetime to my business and I feel a failure.

Please understand that I’m not facing a threat of immediate closure, but I don’t have a positive feeling about the long-term viability of an industry that has provided millions of Australians with fantastic emotional experiences.

We retail store owners and staff have always delighted in the fact that we contribute to the enjoyment of major milestones in people’s lives. Those feelings are becoming more and more rare as we struggle to match prices and lose customers to other industries vying for their money.

We are losing the battle and consequently the war for the hearts and minds of the current generation as well as the coming generations about the value of jewellery. It’s this loss of enjoyment and the lack of satisfying people’s hopes and desires, more than the loss of income, which is the most saddening aspect of being in the jewellery industry.

I need to know what others in my situation think and feel. I need to know that I can leave a meaningful business to my heirs.

I need to be re-invented as a person. Just as the industry needs reinvention.

That is the sad truth and I feel overwhelmed by the situation in which I find myself. Talking to other people in the jewellery industry would help immensely and I therefore recommend that you set up a blog, website or some such mechanism, by which we can contribute personal experiences, even if anonymously.

By talking amongst ourselves and by openly discussing the problems and challenges facing retailers, we may recognise we are not alone. That, in itself, would be of great comfort to many of us who feel alone and, in some cases, helpless.

I read your emails every week and feel that your magazine is the only organisation that can arrange this online service. I would love to hear your thoughts on the matter.

Sincerely,

Name withheld by request

Proud jewellery retailer

Click to download the PDF version of letter

Editor's Comment

I wasn’t sure what to make of this letter the first time I read it. As you can see, it needed a considered response given that the author attempted a self-analysis before contacting me. After calling him the next day and seeking permission to publish his letter, we thought we’d gauge the response from other readers.

Regards,

Coleby Nicholson - Editor

Update: Thursday 3 October

Jeweller received a great deal of feedback after the publication of this story on Tuesday 1 October. Some readers also have posted their comments while others chose to call or email me directly.

Bryan Young, managing director of Retail Rescue, contacted me and offered to provide some insight and solutions on how the retailer could improve his business. As you will read, Young says, “I hear the same thing on a daily basis. I am fascinated by your reader’s story, so much so that I am willing to ‘put my neck out’ and offer to help this person on a ’payment for success‘ basis.” Read here.

It should be noted that Bryan is not aware of the author’s identity and therefore has no specific knowledge of the store’s location, target market or competitive position. His advice is provided on a general basis.

Top 10 Ways to Guarantee Your Best People Will Quit

2013-04-26T09:26:00.001+10:00

Here are 10 ways to guarantee that your best people will quit:

10. Treat everyone equally. This may sound good, but your employees are not equal. Some are worth more because they produce more results. The key is not to treat them equally, rather treat them all fairly.

9. Tolerate mediocrity. A-players don’t have to or want to play with a bunch of C-players.

8. Have dumb rules. I did not say have no rules, I said don’t have dumb rules. Great employees want to have guidelines and direction, but they don’t want to have rules that get in the way of doing their jobs or that conflict with the values the company says are important.

7. Don’t recognize outstanding performance and contributions. Remember Psychology 101 — Behavior you want repeated needs to be rewarded immediately.

6. Don’t have any fun at work. Where’s the written rule that says work has to be serious? If you find it, rip it to shreds and stomp on it because the notion that work cannot be fun is actually counterproductive. The workplace should be fun. Find ways to make work and/or the work environment more relaxed and fun and you will have happy employees who look forward to coming to work each day.

5. Don’t keep your people informed. You’ve got to communicate not only the good, but also the bad and the ugly. If you don’t tell them, the rumor mill will.

4. Micromanage, i.e. tell them what you want done and how you want it done. You need to tell them why it needs to be done and why their job is important, even ask for their input on how it could be done better.

3. Don’t develop an employee retention strategy. Employee retention deserves your attention every day. Make a list of the people you don’t want to lose and, next to each name, write down what you are doing or will do to ensure that person stays engaged and on board.

2. Don’t do employee retention interviews. Most employers tend to wait until a great employee is walking out the door and then conduct an exit interview to find out what caused them to look for another job in the first place. By then it’s too late, so conduct retention interviews and determine what needs to be done to keep your better employees engaged.

1. Make your induction program an exercise in tedium. Employees are most impressionable during the first 60 days on the job. Every bit of information gathered during this time will either reinforce their decision to take the job, or lead to them regretting being there. Most Employee Orientation/Training Programs are poorly organized, inefficient, and boring. How can you expect excellence from your new employee if your orientation program is a sloppy amalgamation of tedious paperwork, boring policies and procedures, and hours of regulations and red tape?

To reinforce their decision to work for you, get key management involved on the first day and make sure your orientation delivers and reinforces these three messages repeatedly:

A. You were carefully chosen and we’re glad you’re here.

B. You’re now part of a great organization.

C. This is why your job is so important.

Written by Mel Kleiman, CSP, president of Humetrics. Edited by Retail Rescue.

Offer of FREE Help for Retailers Goes Viral

2013-04-17T17:58:00.001+10:00

In a very bold move, Retail Rescue has decided to provide their Retail Mentoring service for free.

Bryan Young is a highly experienced and qualified Retail Consultant. He is so good at what he does that many of his clients refer to him as Mr Business. He is the Director and Founder of our Global company based on the Gold Coast, known as Retail Rescue.

Along with his wife, Michelle, they are deeply concerned by the number of Retailers who have been forced to close their doors, with up to 80% of small businesses failing in the first 5 years. They believe that many of these closures could have been avoided and are out to help anyone in the Retail Industry, whether Retailers or Suppliers to Retail, to be successful.

In an unprecedented move, Retail Rescue are escalating their attempts to help Retail, by giving away $5,000 worth of Profit Builder Mentoring for FREE.

“The face of Retail has changed dramatically. With Online retailers, Social Media and Mobile Apps having such a big impact, failure to keep up has seen the decline of many Big Names like Colorado, Borders and Kleins, just to name a few. We show you how to get ahead in this tough Retail environment, through the guidance of a mentor who mixes the best of the old with the best of the new in Real World Business strategies.” – Bryan Young

“We are very confident that we can have a significant positive impact on any Retail or Supply Business. There are no contracts involved and absolutely NO OBLIGATION to continue with our services. That’s right, Free Help, no strings attached.” – Michelle Young

To help promote this humanitarian offer, Retail Rescue has launched an advertising campaign featuring “Mr Money Pants”, an interesting character with a very large bottom, wearing pants made from money and dancing to a song called “I Like Big BUCKS and I Cannot Lie” which ends with the comment “It’s Okay to have a BIG BOTTOM… Line”

The video has already had over 50,000 YouTube views in just a few short days. To learn more about how YOU can qualify for FREE help visit RetailRescue.com.

Do you advertise for staff with retail experience? You could be making a mistake.

2013-04-10T11:42:00.001+10:00

Many Retailers often complain about how hard it is to find good staff, yet they almost always advertise for retail experience.

Let's be honest, Retail is not often thought of as being a long term career path, (which is a shame because it is a great career), so most sales staff are there because they just need some form of income. Perhaps they are undergoing other studies, or maybe they just need a temporary job, whilst they look for something 'better' in the meantime. Even some of the long-term staff are only there to provide a second income to their household, not giving the role their utmost, as to them it's "just a job" and not a career path.

And then there are the 'born salespeople', who are often money motivated and thus don't usually last long, being head-hunted or moving to an industry that promises more money, e.g. real estate.

Let us speculate and say there is as much as 20% of those working in retail, who not only 'get it' but are in for the long term. If that's all we have to select from, why are we only advertising for staff with retail experience? Using this math, 80% of applicants are likely to be unsuitable, even though they can produce a resume outlining retail experience!

"People buy from people", so it must surely be more important that applicants can demonstrate an ability to engage the interviewer, just as they would a client of yours, than sit quietly behind a great resume. I once hired a used car salesperson, ahead of many other applicants that had strong retail experience. This was because he really sold himself at the interview. I got the feeling that "I would buy from this person", whereas “I just wasn't feeling it” with the others.

This person became one of my best salespeople and stayed for several years, but he would never have even come through the door had I not advertised "Retail Experience is not necessary, however an ability to build rapport is".

It’s my opinion that you can “lead a horse to water, but you can’t make it drink”, i.e. you can teach the ‘steps of selling’, but don’t expect any sales to occur unless the person has the drive and desire to not only get the sale but to truly have a positive impact on the business itself.

What are your thoughts? Is it necessary to advertise for Retail Experience, or will a demonstrable ability to engage your clients be a better pre-requisite for you to invest training into?

The best of me to you,

Mr Retail

I Like Big BUCKS and I Cannot Lie!

2013-03-06T13:17:00.001+10:00

Click the picture to watch the video and listen to the song! Try to learn the words!

It’s Okay to have a BIG BOTTOM… Line!

Retail Rescue specialize in Retail.

With over 30 years experience, we KNOW what works in THE REAL WORLD. Plus we keep our finger on the pulse, so we know what NEW TRENDS are working and which aren't.

Be amazed at the Profits still to be had from Time Proven Success Secrets mixed with Innovative New Concepts.

"If you go with the flow you will end up downstream, where a stagnant pool awaits..." - Mr Business

Get on board our powerboat to bring your Retail Business Up to Speed. Join our Healthy Habits Mentoring Program and we will soon have it Toned up and Super Fit, apart from one very BIG BOTTOM… Line that is!

Try Mentoring for FREE!

Join NOW and get your first

Month’s session absolutely

FREE of Charge and with

NO OBLIGATION

to Continue afterwards!

In trouble and need more than 30 days?

The Retail Rescue Owners are Humanitarians and are very saddened by the amount of Retailers who are suffering at the moment. As a result, for a limited time they are offering to help struggling Retailers FREE OF CHARGE for a period of Three Months!

Needless to say, this is NOT available to just anyone, only those that really need it will qualify. If you think that is you, CLICK HERE to apply.

Mentoring
Stock Control
Loyalty Programs
Staff Management
Online Sales Training
Magnetized Marketing

Solutions for the 'Real World'

An Australian Company Operating Worldwide. So Contact Us Today!

Retail Mainstream will make you Stagnant

2013-02-05T13:12:00.001+10:00

It used to be "If you go with the flow you will end up downstream, where a stagnant pool awaits... keep moving forward", well now the flow of the Retail Current has intensified so much that "To simply keep paddling will not only still send you downstream, you will end up getting sucked down a huge whirlpool, or thrown over a waterfall"..!

Don't just catch up with the innovators, get on board our powerboat and leave them in your wake! If you don't, then don't be surprised if you are paddling a lot harder from now on. Join our Healthy Habits Mentoring Program and be amazed at the Profits to be had from our New and Innovative Business Practices!

The best of me to you,

Mr Retail

"Love" Sells! New research indicates love sells better than sex

2012-11-29T07:54:00.001+10:00

New found love for consumers

New research claims one in four Australian consumers feel emotions close to love when considering which brand to buy. And they'll buy a lot more if they do fall in love with a particular product.
A joint study by the University of Wollongong and Murdoch University in Western Australia delved into the feelings of more than 1,000 consumers, and their emotional attachment to brands of beer, petrol, washing powder and coffee.
Dr Steve Bellman, deputy director of the Audience Labs research centre which conducted the study, said emotional branding was becoming a global norm amongst producers and advertisers, with McDonald's and Kodak just two corporations attempting to hook consumers by the heart.
And the study revealed if the emotional attachment to the brand is achieved, it can have a huge benefit for the brand involved.
"Our study shows that when companies tap into consumer's deeper feelings, the payoffs can be substantial," Dr Bellman said.
"Emotionally attached consumers purchase substantially more than regular customers."
The research found full-strength emotional attachment occurred in about 25 per cent of buyers - less in the case of utilitarian products like petrol and laundry detergent.
Research results showed men who felt 'love' for their beer of choice would buy nearly 40 per cent more than the average consumer, while women bonded with washing powder might buy up to 60 per cent more than average.
And emotional branding is just as effective among men as among women.
"Our findings on utilitarian products were surprising, as we don't usually associate petrol and laundry detergent with emotions like companionship and love," Dr Bellman said.

Article reproduced from Inside Retail www.insideretailing.com.au

Footnote from Mr Business - There has long been a saying in advertising circles, “Sex Sells”, well maybe they can direct their promotional activities in a more wholesome direction, now that it has been proven that “Love Sells” even better!

Pinterest Launches Business Tools

2012-11-26T09:13:00.001+10:00

The photo sharing website, Pinterest has already been used by businesses for creating communities, increasing product familiarity and bolstering their social media campaigns.

Now companies will be able to create business accounts with their name, instead of first and surnames. Their photo boards will be able to earn a ‘verified’ badge by embedding their websites with hidden code which, in turn is recognized by the Pinterest system.

Is this a sure sign that the image-rich website will be monetized in the near future? It was revealed that 97% of the personal accounts on Pinterest are held by women, so companies already have a clear demographic at their fingertips.

On the website, the question of how they make money is answered with a vague response: “In the past, we’ve tested a few different approaches to making money such as affiliate links. We might also try adding advertisements, but we haven’t done this yet.”

If the previously clean design is cluttered by advertising, it might be a good idea to have these commercials ‘pinnable’, where you can share your favourite advertising. This would be especially effective during the Christmas advertising season.

James Smith