5 Strategies for Physical Stores to Stay Competitive in an Online Retail World

It’s no secret that most consumers are gradually shifting their purchases to favor online retail stores, rather than physical storefronts. The increased availability of mobile technology, website builders, and e-commerce platforms means it’s easier than ever to buy and sell things online, making it difficult for physical stores to remain competitive.

But the future for physical stores is not as bleak as it may seem. It’s true that online stores have many large—seemingly unsurmountable advantages—including convenient shipping, a wider selection of items, lower prices, and faster means of finding the products you need.

Fortunately, physical stores have their own set of advantages that online stores may never be able to match, including instant gratification and in-person assistance, not to mention the ability to feel, touch, and try on items. Physical stores can have an edge over online stores by focusing on these key advantages, instead of trying to beat online stores on price.

Tactics for Gaining an Edge

Here are some strategies that physical stores can use to stay competitive in an online retail world:

1. Track mobile customer data

Your first secret weapon is to start actively tracking your customers’ data. One of the biggest advantages of online storefronts is their ability to gather more customer data, and more easily. But now, thanks to mobile devices, you can track your physical customers’ data as well.

A perfect example is SAP’s Digital Consumer Insight, which allows you to gather anonymized information about consumers who walk through your store. It’s a perfect way to get to know your audience better, and therefore better cater to them with offers and services.

2. Integrate digital and physical stores

Instead of forcing your customers to choose between a digital experience and a physical one, why not tie the two together? By integrating digital features in your physical storefront, you can present the best of both worlds to your customers.

For example, you could use online stores and apps to make the in-store experience easier—like how Target and Walmart released in-store maps for their Black Friday sales, or how most online retailers allow for in-store pickup if they have a physical location. Enabling in-store customers to order things online is also advantageous, since it allows customers to experience both ends of your store experience.

3. Focus on staff development

Your greatest advantage in having a physical retail location is the presence of in-person staff. Some customers will never be fully comfortable with online ordering, since they prefer to engage with other human beings. Make the most of that advantage by training your staff to be the best they can possibly be.

Hire only the most positive, outgoing, and helpful people you can find, and take the time to train them properly so they can better serve your customers. When your staff consistently gives positive and memorable experiences, physical store customers can’t help but come back for more.

4. Offer more services

You can also earn a greater share of customers by offering them additional services. This has a couple of benefits: first, it gives customers more of a reason to visit your physical location, and second, it provides a more unique customer experience, which increases loyalty and customer retention. A good example of this is how Ikea offers a full in-store restaurant with Swedish cuisine, which makes the experience of shopping at Ikea even more unique.

5. Work on local crowds and word-of-mouth marketing

Your key customers will be ones who prefer physical shopping to digital shopping, so digital marketing methods like SEO and PPC ads aren’t going to be as effective for this crowd. Consider starting a word-of-mouth campaign, even if it’s an informal one. Work on giving the best customer service you can, learn people’s names, and inject yourself into your community. The more visible you are to the public, and the more unforgettable you are to your customers, the more they’ll talk about you and support you in future shopping experiences.

Looking to the Future

Online retail isn’t going away, but physical retail stores still have a long future ahead of them. If you’re a brick-and-mortar retailer, you will need to constantly adapt to new technologies, capitalizing on unique strategies that your online counterparts can’t match and integrating technologies that allow you to remain competitive.

As long as you commit to improvement and focus on the needs of your customers, you’ll be able to thrive in this market.

The post 5 Strategies for Physical Stores to Stay Competitive in an Online Retail World appeared first on AllBusiness.com

The post 5 Strategies for Physical Stores to Stay Competitive in an Online Retail World appeared first on AllBusiness.com. Click for more information about Larry Alton.

from neb biz feed 1 http://ift.tt/2mv7JKk
via Nebula Biz Local Loans

How to Write Better Business Emails and Improve Your Sales

There may be an “Easy Button” for stationery supplies—if only there were one for selling! While no such button exists, there are some things that you can do that will make your emails and sales calls more effective. When you write effective emails, it becomes much easier to sell and your appointments will be more productive.

Get their attention.

Make it easier for prospects to read your emails by crafting subject lines that clearly state the purpose of your email. Take a page out of the military. Start your subject lines with keywords in all caps that explain the email’s purpose.

Here are examples:

• INFO–For informational purposes only
• REQUEST–Seeks permission or approval by the recipient
• ACTION–The recipient must take some action

Do you notice how each subject line stands out because of the all caps? Your email recipient can clearly see what is being asked of him and what he needs to do. If you need someone to do something immediately, they are more likely to notice an all caps ACTION subject line, and because of it, actually take action. Be sure to follow “ACTION” with a clear description of what the email is about. An example might be “ACTION: Approve proposal.”

Writer shorter emails.

Do everything you can to keep the emails that you write short. You can do this by summarizing the purpose of the email in your very first sentence, and then provide the details in the sentences that follow. Your objective is to keep the length of the email to fit within one computer pane so the reader doesn’t have to scroll down. This will save your reader time and makes your message easier to read.

The shortest email you will write is the one you never write. That’s when you realize that it would be better to get on the phone and actually speak in real time to the recipient. On the phone, you get to address what you need right then and there without the constant back and forth that some emails cause.

Avoid wasting your time.

I hear all too often about salespeople getting on planes to go to appointments only to find that the prospect or customer is unable to meet with them. That is unacceptable. The more expensive the appointment means you have a greater job to confirm that the appointment will actually take place.

Begin to categorize your appointments in terms of value. You’ve got to consider the cost to get there, whether it’s driving or flying. Then factor in your time allotted. You might be able to fill in some appointments driving to a customer or prospect; however, you might not be able to fill in any appointments while you’re flying to some remote location. That makes the sales call more expensive because of your time investment.

Send an email a few days before your appointment to confirm the appointment. Use the recommended subject line keyword ACTION to indicate that you need and want a reply. There are too many salespeople who think if they contact a customer to confirm an appointment, their customer will cancel the appointment. Well, wouldn’t you prefer to know in advance that a customer is not available so you could schedule someone else with your valuable time instead of wasting it?

You will be a more effective sales professional when you do the work to write more effective emails and meet with customers who are prepared to see you. You can’t push an easy button to make selling easier. You just have to know what to do.

The post How to Write Better Business Emails and Improve Your Sales appeared first on AllBusiness.com

The post How to Write Better Business Emails and Improve Your Sales appeared first on AllBusiness.com. Click for more information about Maura Schreier-Fleming.

from neb biz feed 1 http://ift.tt/2ltselD
via Nebula Biz Local Loans

Entrepreneurship: The Struggle and Payoff of Setting Up Shop in an Airport

Small businesses must jump through hoops to secure slots at airports, where snow delays increase sales, but those who have done it say it is worth the effort.

from neb biz feed 1 http://ift.tt/2ltbr1U
via Nebula Biz Local Loans

Invest With Portfolio Allocation in Mind

By Charlie Shipman Learn more about Charlie on NerdWallet’s Ask An Advisor The stock market can seem unpredictable — there are a thousand details to think about and remember, and there’s no shortage of anecdotal stories of massive loss and lucky wins from friends, family and co-workers. Your best bet? Becoming an informed investor. Part of...

from neb biz feed 1 http://ift.tt/2mMdwam
via Nebula Biz Local Loans

Are You Mad Enough to Switch Banks?

Ever thought about using your checking account as a force for good? The idea came to Caleb Buchbinder as he and Sioux activists at Standing Rock, South Dakota, tried to block construction of the $3.8 billion Dakota Access Pipeline. Protesters say construction will bulldoze sacred land and the pipeline could endanger Standing Rock Reservation’s water...

from neb biz feed 1 http://ift.tt/2ldX1aH
via Nebula Biz Local Loans

Should You Buy or Rent Your Modem to Save Money?

Congratulations! You picked an internet provider. The hard part is over, right? Well, almost. After you select your speed — and your bundle, if you go that route — you need to make one last decision: Rent a modem and router from your provider or buy your own. Running the numbers makes the decision easy....

from neb biz feed 1 http://ift.tt/2lV6jqP
via Nebula Biz Local Loans

NerdWallet’s Best Credit Card Tips for March 2017

March brings spring break, St. Patrick’s Day, March Madness — and tax preparation. The Nerds have tips for using your credit cards for all of these events. Take a spring break trip If you’re hitting the road with your family for a spring getaway, you’ll want to save money however you can. Saving on gas is...

from neb biz feed 1 http://ift.tt/2mevUvR
via Nebula Biz Local Loans