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

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Edward Page
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Retail Right: Build Your Business on the Vowels An interactive presentation by Ted

LOW PRICE HIGH QUALITY The retail business has changed significantly in the past 30

bought the t-shirt from some of the best companies in the world Their expectations

One word shines through in retail focus groups: authentic Variations include:

reliable, supportive, true, trustworthy These are the core values of many people

1 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. LOW PRICE HIGH QUALITY 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 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 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 HPBExpo 2018 Interactive Presentation by Ted Topping, Creative Insights Inc. Page 1

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 Advice SELF-SERVE SERVE Accurate and

2 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 Advice SELF-SERVE SERVE Accurate and honest, delivered effectively in person The Bottom Line: Who has responsibility for ensuring the customer gets the right item? If you choose serve, you must be more than an item provider Give customers 3 things that are not online or in the catalogue 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 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 Experience Much more than simply the lowest price Make what s special, special HPBExpo 2018 Interactive Presentation by Ted Topping, Creative Insights Inc. Page 2

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

A real connection with a real person Create an experience with

power to insist on exceptional service, but everyone wants it and

with respect be seen as an individual Treat everyone as a very

it is even more important that they feel: 1.

you are genuinely trying to grasp what they want, need, think, feel

3 People do not buy goods or services, they buy relations, stories and magic Seth Godin Author, entrepreneur and marketer Interaction A real connection with a real person Create an experience with Interactions instead of Transactions 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 Treat everyone as a very individual person 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 HPBExpo 2018 Interactive Presentation by Ted Topping, Creative Insights Inc. Page 3

4 On the customer s side Online retailers can t listen, right-sell like you can The customer isn t always right, but it s your job to make them feel that they are Service Netting You need to have a safety net in place for every aspect of your business 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 Everyone on your team needs the authority to solve problems Service is efficient before it s nice When something goes wrong Start from the assumption that someone on your team made a mistake Own the responsibility for satisfaction Understanding Nothing leaves the store til we confirm what it is for CUSTOM SELLING Connect Understand Satisfy Trial lose Overcome objections Maintain the relationship Understand customer s needs, wants, desires 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 HPBExpo 2018 Interactive Presentation by Ted Topping, Creative Insights Inc. Page 4

Open-Ended Questions: Who What When Where Why How Tell me In retail: It s not just your product that makes for satisfied customers It s the way that you treat those customers Advice Experience

5 Open-Ended Questions: Who What When Where Why How Tell me In retail: It s not just your product that makes for satisfied customers It s the way that you treat those customers Advice Experience Interaction On the customer s side Understanding (y) Yearly improvements Find ways to jump higher every year Stefan Holm, Sweden ¼ 2004 before Athens Olympics Source: Hug Your Customers Jack Mitchel CEO Mitchel/Richards 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 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 Follow the link to Continuing Education Thank you Please keep in touch tedtopping@telus.net HPBExpo 2018 Interactive Presentation by Ted Topping, Creative Insights Inc. Page 5

6 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 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:

A Fresh Look at How to Retain Exceptional Employees Friday, March 9, 2018 at 12:30 p.m.

A Fresh Look at How to Retain Exceptional Employees Friday, March 9, 218 at 12:3 p.m. How to Retain Exceptional Employees An interactive presentation by Ted Topping President, Creative Insights Inc. Friday,