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Jan 22 2012
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retail, business, small business, independent retailers

Retail Reversals and Rallies

Laurel Tielis

What’s greater than an electric company’s power surge and more forceful than a hot flash? The power of the people combined with the power of the purse.

With social media, consumers have a voice. And whether it’s the fight against SOPA, the Occupy movement, or retail arrogance, what they’re using it to say is, “I’m mad as Hell, and I’m not going to take this any more.”

Brands that don’t get It, will get it where it hurts. Look at Netflix, Bank of America, and Verizon. Not since the Three Stooges has there been anything so dopey. But while the Stooges were funny, these companies are sad.

As for Amazon, nobody likes a bully–whether it’s in the schoolyard or on the business playing field, Amazon showed it didn’t care at all about the little guy, which was an opportunity for everyone else to say they did. 

Successful Companies Understand Consumers Count

Today, the companies that will be around tomorrow, understand that  it’s a conversation between brands and consumers. Businesses can no longer make decisions without taking consumers into account.The Internet, and social media, make everything visible. There are no secrets. Everyone knows who’s naughty and who’s nice, and they respond accordingly.

That said, companies can make mistakes and learn from them. I think these two “retail rallies” have the potential for customer engagement and retention.

Some Retail Rallies

Target missed the mark when it overpromised and underdelivered on the Missoni collection. But now it’s back with The Shops of Target, a new promotion set to begin May 6th, where the retailer will be teaming up with five small businesses from across the country for a six week run. This is a win for customers who will be able to purchase special items, its a win for the boutiques, whose products will go out to an enormous audience, and it’s a win for Target–if the company executes it properly.

Walmart is also showing that it understands how to engage and retain customers. It made a good start when it brought back layaway for the Christmas season, and now it’s got a great promotion underway called Get on the Shelf. The company has created a contest open to anyone with a product that fits its product categories. Contestants need to submit an online video, and voters will select the three winners. Their products will be sold at www.walmart.com. The grand prize winner will also have his/her products sold in selected stores.

It’s an enormous opportunity for small business owners, it’s a great way for Walmart to position itself as a champion of the little guy, and it’s fun for the rest of us.

If  you want more ideas about bringing in business, I can heIp. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Connect with me at LinkedIn, or follow me on Twitter @laureltielis.

You can also get in touch at Ask Laurel (one word) at laureltielis.com. For easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2012 Laurel Tielis

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Jan 02 2012
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business, entrepreneurs, independent retailers, retail, small business

Retail Moves from Bricks to Clicks and Back Again

Laurel Tielis

SAN FRANCISCO–Arkadi Kuhlmann, President and CEO of ING Direct, was in Union Square last week to launch the online bank’s new 17,000 square foot cafe, its eighth brick and mortar outlet.

While you can”t make a deposit or a withdrawal, you can grab a cup of Peet’s coffee, take advantage of the Wi-Fi, and enjoy face time with others.

Not only that, the bottom level of the three-story space is set up so that small business owners and non-profits can host meetings, free of charge, for as many as 40 or 50 people.

Why move from clicks to bricks? Isn’t business going in the opposite direction? As Kuhlmann put it, “People feel very disconnected; there’s a need for connection.” It makes sense, and it works out in dollars. ING has found that deposits have increased by about 10 percent in the cities where they have a physical presence.

Understanding the consumer is the secret of doing business today. People want what they want, where they want it, when they want it. The easier you make it for them, the more they’ll do business with you. If your goal is a successful business you need to be available instore, online, and via mobile.

Arkadi Kuhlmann, ING Direct with blogger Laurel Tielis

This is a good lesson for independent retailers, who have been resistant to selling on the Internet. And to be fair, getting started has been expensive and time-consuming.

Luckily though, as it’s become more important to have a website, it’s also become cheaper and easier to acquire one. In addition to eBay and Etsy, which have been around for a long time, but are clearly not right for all retailers, there now are a wealth of inexpensive ways for small business owners to sell online.

If you want to easily and inexpensively create a storefront with the look and feel of your four-walled store check out Goodsie.com, Shopify.com, Storenvy.com, and Weebly.com. If you’re interested in joining with other small business owners in your area, there are sites like UrbanSwipe.com in Albuquerque, and Shoppista, com, which I wrote about last year, in the San Francisco Bay Area.

Got merchandise you’re ready to move at a discount? Sales site LittleIndependent.com can help. If you’re in the bridal business, take a peek at NearbyRegistry.com, scheduled to open this year.

If you started with bricks, it’s time and past time to move to clicks; and as ING Direct has shown, clicks profit when they connect in person. Success today means taking advantage of every possible place and manner to sell your products and services.

If you want more ideas about bringing in business, I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Connect with me at LinkedIn, or follow me on Twitter @laureltielis.

You can also get in touch at Ask Laurel (one word) at laureltielis.com. For easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2012 Laurel Tielis

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Nov 06 2011
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business, retail

Speed Up Sales By Using QR Codes

Laurel Tielis

In addition to sushi and bonsai trees, we can thank the Japanese for QR codes, those black-and-white patterned squares that have become ubiquitous.They were created in the 1990s by a subsidiary of Toyota, to track cars as they moved down the manufacturing line.They’ve been popular for some time there, but have only recently begun to be used in the U.S.

They’re not all that different from the barcodes used on items in the supermarket, or from those on the back of books. What makes them more valuable though, is that they offer far more information in a similar amount of space.

Why All the Hoopla Now?

QR codes have finally come into their own because they’ve have moved from the province of the manufacturer or retailer, to that of the consumer. Mobile apps have made them customer centric. A shopper on a smartphone downloads a free app, like Red Laser, then uses it to snap a picture of a code, et voilà, the phone screen displays a wealth of information about a product or a service.

If you’re a retailer, as you’ve already discovered with barcodes, this offers both positives and negatives.The downside is that armed with all that information, shoppers can quickly and easily find the same merchandise you’re selling elsewhere, and possibly at a better price. Which of course means, they’ll buy elsewhere.

But the upside is a stronger one, especially if you own a brick and mortar store. QR codes let you sell your merchandise 24/7.

Benefits to Retailers of Using QR Codes

For example, a window shopper out for a late night stroll or a pet owner up early taking care of Fido’s needs, attracted by a display can easily find out out more about what caught her eye by simply scanning a QR code. That means, even when you’re not officially open for business, you can still be selling.

You can also use them to create customer engagement, and possibly loyalty. When shoppers text your QR code, you can give them a discount coupon, or a free sweepstakes entry in exchange for their information.

Want to promote your business without making it so obvious that no one will want to use the product? Rather than run an ad all over a T-shirt or a coffee mug, a simple QR code, especially one inserted cleverly into a picture, will get the word out about your business.

No matter what you retail, you can use a code to fine tune the information you want to share about your merchandise. If you sell food or drink, you can include a recipe in the code. Apparel sellers can include a tip about how to dress for success. Own an art gallery? Give some information about the artist, or the particular piece, on a QR code.

They’re inexpensive and easy to produce, and can be used on walls, windows, print ads, giveaways, social media sites, kiosks, or wherever you’re imaginative enough to place them. They can even be used as a part of, or  in place of business cards.

When you’re ready to move to the next level of business, I suggest you check out QR codes.

If you want more ideas about bringing in business, I can help. I’ve been a retail eporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Connect with me at LinkedIn, or follow me on Twitter @laureltielis.

You can also get in touch at Ask Laurel (one word) at laureltielis.com. For easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Aug 29 2011
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What Retailers Can Learn from Hurricane Irene

Laurel Tielis

Flashlights, first aid supplies, and batteries were must-haves for people in Hurricane Irene’s path. But Pop-Tarts were high on the list of items people were purchasing.

According to Walmart, Strawberry Pop-Tarts were the most popular. It’s not surprising because they’re easy to open, don’t need to be heated up, and can be eaten any time of day.

But another reason they’re so popular is that they’re sweet. And when things are challenging, people look for ways to sweeten their lives.

Uncertain Economy Brings Out Small Indulgences

In this uncertain economy, people are looking for small indulgences. Teeny tiny cupcakes with not- so-teeny price tags are a small price to pay to feel better. And why wait to get to a bakery,when you can buy them from a cupcake truck in your neighborhood? They’re comfort food paired with convenience.

It’s the same thing with “expensive” coffee drinks. While it’s true you can buy a pound of coffee for what you might pay for a designer coffee, it’s still well worth the money to feel better.

As for penny candy sales, they’re always strong in a weak economy. When life goes sour, people seek sweetness; they need to be taken care of.

How You Can Sweeten Your Sales

If you’ve ever shopped at Trader Joe’s you’ve probably noticed that most people hit the free food/coffee bar before they start their actual shopping. Whenever I walk a trade show, I see the booths that have goodies get bodies.

It’s clear, people want a treat. So when customers come to your store, give them one. Put out penny candy and watch more dollars come in. Or, team up with a baker, a local coffee shop, or your nearest Starbucks. You provide the venue, let them bring in the menu. When you buddy up, the cost is low, the potential is enormous.

if you’re a florist, you can Increase your business by giving your offerings a green theme. You can put out dried or fresh fruits, nuts, and cut up vegetables. If your business is dance, or sports, or fitness-based, you can connect to your community by offering  trail mix, nuts, seeds, or sports bars.

In the same vein, when people come to your home, you ask, “What can I get you to drink?” Do the same in your business. Serve coffee, tea, apple cider, or hot chocolate. Hint: hot drinks are better because it takes customers longer to drink them. And the longer they’re in your store, the more likely they are to buy something.

If you’re doing it on your own, and you’re worried about the cost, ask your suppliers to help. When you do business, they do business. It’s a win-win. You create deeper relationships with them and become closer to your customers as well. As Jackie Gleason always said, How sweet it is!

Want more ideas about bringing in business? I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Get in touch at ringupmoresales@gmail.com. Or, for easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Aug 11 2011
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Ads Add to Business Success

Laurel Tielis

Can you give up advertising now that social media has become so important? You can, but you shouldn’t. Ads are still an immensely valuable way to get your message to your audience.

Online, Google’s AdWords is the go-to place for most small business owners. There’s a good reason for that. The keywords that you buy align with what people are searching for. That sends them to your site, and if they see a match between your product or service and their need, they’ll buy from you.

Newsletter Ads Add to Sales

You also want to run ads in your e-newsletter. In the beginning, all of the ads will be your own. Do a good job with your content and distribution, though, and over time, others in your arena will run their ads in it as well.

As you know, the secret of any ad is to make it reader-friendly and helpful, rather than hard sell. For example, if you’re a gourmet retailer, ads can be placed next to recipes. If you sell apparel, authoritative advice on what’s hot and what’s not, could form the basis of your advertisements.

Computer store owners could offer a helpful hint when they want to get the word out about business. To make the medicine go down, pharmacies could share information on natural remedies as well as new drugs. When you advertise on other people’s newsletters, use the same tactics.

Mainstream Media Still has Muscles

Take advantage of mainstream media for even more effect. Newspapers, magazines, radio, and television, reach a large audience, and can be very useful in getting your story told.

Clearly, if you’re a small business owner, you can’t afford full-page ads in major newspapers. But you can’t afford not to advertise in smaller, local ones that directly target your buying public. Local radio and TV can also provide good value at low cost.

In a down economy, it’s tempting to hold back marketing dollars. But it’s penny wise and pound foolish. Now you can ask for better rates or higher frequency of run for the same price. Also, as others move away from advertising, your ad will stand out and attract more attention and bring more sales.

Want more ideas about bringing in business? I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Get in touch at ringupmoresales@gmail.com. Or, for easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Jul 28 2011
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How Retailers Can Use Technology to Increase Sales

Laurel Tielis

SAN FRANCISCO–Most small business owners find technology drives them crazy. Inc. magazine, and Ink from Chase, decided to rectify that last week, with a discussion on Using Technology to Drive Growth.

After a one-hour networking reception at San Francisco’s Park 55 Wyndham Hotel, attendees heard  a panel hosted by Inc. contributing editor and small business owner, Maisha Walker.

The panel was made up of Bump CEO David Lieb, Blurb VP Chad Jennings, and Foursquare Head of Talent Morgan Missen. The companies they represent are all successful SF start-ups–Bump allows people to exchange information through their smartphones; Blurb makes it easy for people to self-publish books, and Foursquare offers location-based check-ins.

What Made Them Successful?

The discussion revealed what led to the companies success. In brief, a specific mindset, combined with tools  that to allowed each to differentiate itself from others in their category.

Beta is Better

For  Disney it’s a small world, for technology companies, it’s a beta world.The companies all benefited from agile development, the concept of creating a product, and sending it out into the world, warts and all. Users then participate in improving it.

Since it doesn’t have to be perfect from the get-go, companies that take advantage of the concept, develop their brands and their images, and revel in the improvements they make and the lessons they learn, as they go along. Google+ is using the concept now to let its early adapters help them shake out problems.

The Takeaway

This is an excellent lesson for many small business owners who are still trying to get their websites right, while the rest of the business world have moved on to mobile technology.

How You Can Do It

1. Set up a small team (or pick a person) and give them a direction
2. Put together the simplest, cheapest version
3. Confirm what works and what doesn’t
4. Think in terms of short goals and wins

Test Your Message

The panel talked about the benefits of a brand book. A brand book allows for a consistent voice that sounds like you, but also lets you constantly update your message as you test it and get feedback on it.

The Takeaway

Don’t assume. Do the research. It will give you specific information on what motivated people to come to your site. The feedback also helps with building a user base and creating relationships.

How You Can Do It

Ethnio was a recommended research site. It allows all size businesses to conduct research. Depending on how many page views a company get, the fees range from free to $199 a month.

Floating on a Cloud

Everything used to be in-office. That’s changed with the cloud. And while Blurb is not using cloud computing, both Foursquare  and Bump extolled its virtues.

The beauty of it, in addition to being fee-free, is that the cloud offers failsafes. With the cloud, you’re not responsible; you don’t need to bring in a technician.  At Foursquare, Missen said, if something goes wrong “we’d just go to a bar.” She said, docs and spread sheets are now  replacing Microsoft.  Business owners can take advantage of  Google apps and Dropbox.

Lieb said a major benefit for Bump was, “You can do so much for so little money.” Bump’s initial funding was $20,000, but by taking advantage of running on the cloud, they were actually able to get up and running for $10,000.

The Takeaway

Don’t rebuild the wheel; it works just fine the way it is. Cloud computing is a time-saver and a money-saver for businesses.

How You Can Do It

Test out Google Docs, try Open Office, use Dropbox to store your files. See what works and doesn’t work for you, and move forward according to your comfort level.

Want more ideas about bringing in business? I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Get in touch at ringupmoresales@gmail.com. Or, for easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Jul 18 2011
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Newsletter Know-how: Focus on Customer Interests

Laurel Tielis

Whether it’s a simple note, a blog, or a newsletter, you always have to answer the question, What Should I Write About?

To engage your readers and turn them into buyers, remember the letters WIIFTC and write about What’s in it for the customer/client. Show them why they should take the time to read your newsletter by filling it with stories that benefit them.

As you know, people find information that directly speaks to their interests compelling, and are always eager to learn more. While you’re sure to have things to write about that are specific to your business and your location, here’s a list of topics you’ll want to cover.

Ten Proven Topics to Engage Reader Interest

1. Customer success stories–Customer success stories show readers how using your product or service helped others and could help them as well. They’re a thank-you to your customers and a testimonial for your business.

2. How-to features–People want to know how things work (even if they don’t want to do it themselves), so tell them.

3. Calendar–Offering information about what’s coming up in your area of  interest will do two things: help readers make plans, and think of you when they do so.

4. Q & As–If you’ve got a store, pretty much any customer who comes in has a question for you. Write about the ones that come up frequently. Also, invite readers, Twitter followers, Facebook fans, and LinkedIn connections to submit questions.

5. Interviews with industry experts–Show you’re in the know by connecting with well-known people in your industry. That will attract readers and enhance your image and credibility.

6. Interviews with celebrities and names in the news–Take a tip from People magazine and write about the glitterati. Their star dust will reflect well on you.

7. Contests–People love a challenge. Your business will benefit when you create contests that engage their interest and get them to participate. Sweeten it by offering a prize to the winner.

8. Book and/or Film reviews–What’s the word on your business? Keep customers and clients up to date by filtering the must-reads from the poorly written, the must-sees from the ones not worth the popcorn.

9. Company history–Whether it’s the back story of a person, a product, or a concept, we all want to know the who, what, where, when, why, and when it comes to a successful business, the how.

10. Biographies of yourself and your staff–When you include your biography, you make yourself more real, your business more credible. Think of people like Wendy’s founder Dave Thomas, Famous Amos, and Mrs. Fields.

When you include biographies of your staff it gives them more importance, and acts as a public thank-you. Good staff is like gold; you can’t thank them enough.

Sales, Promotions, and New Lines

Of course, you’ll want to include notices about any special sales, promotions, or new lines of merchandise. Write about them as information, not as ads. Use your newsletter as a soft-sell reminder of your business, not a flagrant sales tool.

The beauty of a newsletter is that it gives you multiple opportunities to go back to your readers with information to capture their interest and their business.

Want more ideas about bringing in business? I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Get in touch at ringupmoresales@gmail.com. Or, for easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Jul 11 2011
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Connect with Charities to Brand and Build Your Business

Laurel Tielis

Whether it’s in your business or your personal life, you can’t have too many friends. A great way for all businesses to create friendships is by teaming up with a non-profit.

It’s an especially good idea for companies that are not smiled upon by everyone. By aligning themselves with non-profits, they please the public and upgrade their image.

For example, for 72 years, until 2003, Texaco sponsored the Metropolitan Opera’s live radio broadcasts. That gave the company an opportunity to create an association with a venerable institution and be seen as a friend of  the arts.

They did it because the image of big oil and its byproduct, gasoline, is not one that people laud. Partnering with the opera was a way for the company to hear its praises sung.

Likewise, Philip Morris sponsors a branch of the Whitney Museum. That means that people think about it as more than just a company that sells cigarettes.

You’ll benefit as well when you team up with a non-profit. One way to do it is  to designate a percentage of your sales for the charity of your choice when you plan an event.

The charity will spread the word to its supporters, and that should broaden the base of your attendees, as well as increase your actual sales. Of course, whenever you link up with a 501 (c) (3) you also exponentially increase the possibility of getting media coverage, which means that still more people will know about your business.

But you don’t even have to have an event to donate to a charity. You can just pick a date, for example, the anniversary of your store’s opening, and give a percentage of purchases that day to a charity of your choice. You, of course, will tell everyone via your website, email, newsletter and mainstream as well as social media.

They’ll get the word out to everyone on their lists as well, and both you and the charity will profit. If their supporters become ongoing customers, you’ll continue to do well from doing good.

For years, small business owners supported local sports teams and benefited by having their name splashed across the front of t-shirts. While that still works, here’s an updated way to partner with local non-profits.

A small hardware business I read about, given three weeks notice, provides free spring water to local charities’ fund-raising events. The charities get water they can sell or give away; the hardware store has its name on the bottle so everyone who attends gets to know about them and to see them as a good neighbor.

And along the same lines, it’s always a good idea to donate merchandise for goody bags at the charity’s events. It can be as simple as shoelaces if you’re in the shoe business, to seeds if you’re a florist, to diamond cleaner if you’re a jeweler. Naturally, all of the products will have your name on them.

But with the okay of the non-profit, you can also go more upscale. You can give away one half of more expensive items–one glove, one earring, etc.—and let event attendees know that the mate is waiting at your store.

At a minimum, you’ll be thanked in the program. Sometimes, charities also talk up donations when the introduce the program, so there’s a chance you’ll be spotlighted there as well.

Want more ideas about bringing in business? I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Get in touch at ringupmoresales@gmail.com. Or, for easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Jun 20 2011
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Bloomsday Breakfast at Bryant Park Creates Buzz for Ireland

Laurel Tielis

NEW YORK–With all of the less-than-happy stories in the news, how do you brand a country, create community involvement, and make people happy?

Ireland, through the auspices of Imagine Ireland and the Irish Arts Center, hosted a Bloomsday breakfast smack in the middle of the city at Bryant Park, on 42nd Street and Fifth Avenue.

It was a perfect location because the park backs on to the main library, and the breakfast was in honor of James Joyce and his groundbreaking work Ulysses. The novel chronicles a day in the life of Leopold Bloom, and his travels around Dublin on June 16, 1904.

One hundred and seven years later to the day, in a leafy enclave with a backdrop of skyscrapers, New Yorkers (and lots of visitors to the city) were entertained by Songs of Joyce and the Darrah Carr Dance company.

Performers, and many of the attendees, dressed for the celebration in clothing that would have been appropriate in Dublin at the beginning of the 20th century. Women carried lace parasols and wore street-length skirts, and hats with flowers. Men looked handsome in striped jackets and boaters. Of course you knew it was the 21st century–people were snapping photos of the event with their cellphones.

Celebrants lined up for tea and coffee, while breakfast hors d’oeuvres, courtesy of food purveyor Tommy Moloney, were butlered. Among the items passed were Bloom’s Beast and Fowls, which consisted of black pudding, white pudding, and sausage, and Tommy Tucker’s Bread and Butter, toasted Irish black bread, creamer potato, organic egg, and spring onion butter sauce.

The highlight of the two-hour event (which began at 8 a.m. and finished promptly at 10 a.m.) were readings. Most of the presenters were people prominent in the theater. Fionnula Flanagan opened the book, and Aedin Moloney closed it.

James Newman, Charlotte Moore, Terry George, Michael Noonan, T.D., Minister for Finance, Ireland, and Isaiah Sheffer also read. Sheffer, artistic director of Symphony Space, has been hosting a 13-hour reading of the book at the upper Westside location, every year for the last 30!

It was a glorious morning honoring one of the most important novels ever written, and leaving people with only good to say about Ireland and the Irish. Clearly, sales of all thing Irish will increase, as more people buy the book, purchase the comestibles, and visit the country, after participating in the event.

Want more ideas about bringing in business? I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People magazine.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Get in touch at ringupmoresales@gmail.com. Or, for easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2011 Laurel Tielis

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Oct 25 2010
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business, entrepreneurs, independent retailers, retail, small business

Less Space and Lower Prices at Neiman Marcus Studio stores

Laurel Tielis

Dallas-based luxury retailer Neiman Marcus is lowering its prices to raise its profile with middle-class shoppers. The first of a series of stores called Last Call Studios will be opening in November.

Smaller than the 27 Last Call outlets, these shops will be stocked with moderately-priced merchandise purchased specifically for them, rather than filled with goods that didn’t sell in the upscale chain.

Here’ why this should interest you. You, too, can move beyond your traditional merchandise mix to attract new customers. And you can do it simply and easily by choosing a product of the week that would not ordinarily make it on to your shelves. You’re not repositioning your business, but you are expanding it.

Because Neiman Marcus’s prices start in the stratosphere, they have to come down in price if they want to  reach out to new shoppers. If your prices are more moderate, though, you have the option of going both up in down in price with your “buy of the week.”

That means you can attract buyers with deeper pockets as well as value  shoppers, so you are extending your business in two new directions. That, of course, will help you ring up more  sales. In addition, it will give you vitally important information as you go forward.

In your arena you may find that there’s more of a market for your goods at an upper price point, or conversely you may find that more shoppers will seek you out when you cut the cost.

Running a small ad in a local paper every week is a good way to move the product, but having an item of the week also gives you an opportunity to reach out to the media on a weekly basis, because new equals news.

If you’re involved in social media, you want to get  the word out on Facebook, Twitter, LinkedIn, or wherever you tell your story. Of course, you’re going to want to let your loyal shoppers know about this special product, and you’ll do that through your e-mail and by posting the information on your Web site or blog.

Take advantage of larger stores’ reading of the marketplace. It can give you the impetus to move beyond your boundaries and build your business.

If you want more ideas about bringing in business while running a business, I can help. I’ve been a retail reporter at Women’s Wear Daily and Home Furnishings News, a columnist at the Miami Herald and a correspondent at People.

I’ve also handled the marketing and public relations at major corporations and small businesses. Need a speaker or a consultant? Connect with me at LinkedIn, or follow me on Twitter @laureltielis.

You can also get in touch at Ask Laurel (one word) at laureltielis.com. For easy and effective ways to bring in more business, read Ka-Ching! How to Ring Up More Sales.

Copyright © 2010 Laurel Tielis

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