retail right - build your business on the vowels (ted topping)...retail right: build your business...

Retail Right: Build Your Business on the Vowels • Wednesday, March 7, 2018 at 11:00 a.m.

HPBExpo 2018 • Interactive Presentation by Ted Topping, Creative Insights Inc. • www.tedtopping.com •

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Retail Right:

Build Your Business on the

Vowels

An interactive presentation by

Ted Topping President, Creative Insights Inc. Wednesday, March 7, 2018 at 11:00 a.m.

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LOW PRICE

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HIGH QUALITY

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•  The retail business has changed significantly in the past 30 years, but retail customers have changed even more

•  Have been there, done that and bought the t-shirt from some of the best companies in the world

•  Their expectations are much, much higher as a result

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•  In today’s retail world, smaller retailers are like a premium brand

•  Customers specifically choose them as a better alternative to the department stores, the national chains and the big-box retailers (knowing that prices are probably higher)

•  Because smaller retailers are a premium brand, customers expect them to perform not just as well as other retailers, but better

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One word shines through in retail focus groups: “authentic”

Variations include: charming, community, dependable, durable, family-oriented, genuine,

honest, real, reliable, supportive, true, trustworthy

These are the “core values” of many people who live or work in your community



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Even if you provide essentially the same product, you will have a competitive

edge if you also provide service and a customer experience

that feels authentic

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THE “HOME FIELD” ADVANTAGE

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Accurate and honest, delivered effectively in person

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SELF-SERVE SERVE

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The Bottom Line: Who has responsibility for ensuring the customer gets the right item?

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If you choose “serve,” you must be more than an item provider… Give customers 3 things that are not online or in the catalogue

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•  Explain why your products are different and make them “come alive”

•  Teach how each product is made and what makes it a premium brand

•  Respect and romance the products accordingly (stock pristine, presentation crisp)

•  Help the customer find ways to confirm and reinforce value

•  Sweat the details and walk the “expert” talk

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Transaction counter Clearance and “last chance” sale items “Special purchase” at opening price point Manufacturer or brand showcase Consultation and education area Our latest, greatest and most amazing Department 2 Department 1 Statement display Decompression zone

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Experience Much more than simply the lowest price


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Make what’s special, special



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“People do not buy goods or services, they buy relations, stories

and magic” Seth Godin

Author, entrepreneur and marketer

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Interaction A real connection with a real person


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Create an “experience”

with Interactions instead of Transactions

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Some customers may have the power to insist on exceptional service, but everyone

wants it and everyone deserves it

Everyone wants to: •  feel special

•  be treated with respect •  be seen as an individual

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Treat everyone as a very individual person

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Customers want to be understood, but emotionally, it is even more important that they feel: 1.  you want to understand them, and 2.  you are genuinely trying to grasp what they

want, need, think, feel

People judge how much you care by how much you listen



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On the customer’s side Online retailers can’t listen, right-sell like you can


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The customer isn’t always right, but it’s your job to make them feel that they are

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Service Netting You need to have a safety net in place for every aspect of your business

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Service Netting •  Observe and listen to customers interacting with

employees •  See what goes wrong (or almost goes wrong) •  Ask yourself and your team how that situation

could have been prevented •  Make the necessary changes

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Everyone on your team needs the authority to solve problems

Service is efficient before it’s nice

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When something goes wrong…

Start from the assumption that someone on your team made a

mistake Own the responsibility for satisfaction

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Understanding Nothing leaves the store ’til we confirm what it is for


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CUSTOM SELLING •  Connect

•  Understand •  Satisfy

•  Trial lose •  Overcome objections

•  Maintain the relationship

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•  Truly understanding customers is a critical part of selling and service

•  Adds value to you, the customer and the business because it: Ø  Creates a consultative relationship with the customer Ø  Provides valuable knowledge to use immediately and in

the future Ø  Builds repeat business Ø  Creates referrals

Understand customer’s needs, wants, desires



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Open-Ended Questions:

Who What When Where Why How Tell me

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In retail: It’s not just your product that makes for satisfied customers

It’s the way that you treat those customers

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Experience Interaction

On the customer’s side Understanding

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Yearly improvements Find ways to jump higher every year


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Stefan Holm, Sweden 2.37 | 7-9¼

2004 before Athens Olympics

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The Good News:

As you earn customer trust and loyalty, and a reputation for providing excellent service, customers will expect you to go the extra mile… which will push you to find even more ways to meet and exceed those expectations

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Retail Right Sessions at HPBExpo 2018

Build Your Business on the Vowels Wednesday, March 7 at 11:00 am

Create an Amazing Showroom Wednesday, March 7 at 1:45 pm

Treat Your Customers as Guests Friday, March 9 at 11:00 am

These will also be available online https://www.nficertified.org

Follow the link to “Continuing Education”

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Thank you Please keep in touch

[email protected] www.tedtopping.com

If you found this session worthwhile, you may want to investigate additional HPBExpo courses by Ted Topping COURSE NUMBER

TITLE

3020 Best Way To Build Your Business

3034 Customer Service: The Underused Competitive Advantage

3069 It’s Time To Start Rebuilding

4234 Innovative Ways To Market Your Business

4287 Practical Leadership Strategies

4289 Profit Through Productivity

4292 Selling Is Service and Service Is Selling

4293 Service and Customer Experience Inspired by Disney

4638 Practical Leadership for the Young Guns

4643 Harnessing the 4 Ps of Customer Service

4730 Marketing and Branding Lessons From Star Wars

4757 Innovative Ideas for Installation and Service

5646 30 Leadership Insights in 90 Minutes

5701 Making The Transition To Management

5702 Manage Your Time Instead Of Putting Out Fires

Hiring and Retaining Exceptional Employees Printed or PDF manual plus online courses

Professional Service is Profitable Printed or PDF manual plus online course

You can find these at: https://www.nficertified.org/product-category/hearth-online-training/

retail right - build your business on the vowels (ted topping)...retail right: build your business...

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