Adapting to the Changing Envir ironment November 6, 2020
Agenda I. Welcome and Opening Remarks II. Updates from Town Officials III. How to Prepare for the Craziest Holiday Season Ever! • Angel Cicerone, Founder, Tenant Mentorship • Q&A IV. LBTS Businesses: Adapting to the Changing Environment • Merchants Association: Small Business Saturdays • LBTS Farmers Market • LIVE with Eva & Ellen: Aruba Beach Cafe VII. Closing Announcements & Remarks
Lauderdale-By-The-Sea Town Officials
CARES Act funds to • https://webapps6.broward.org/NewsRelease/View.aspx?intMessageID=12415 • The County will officially open its CARES Act Small Business and Non-Profit Grant Application Portal on support $25 million for Monday, November 9 through Monday, November 16. The Board of County Commissioners allocated $35 million from the County’s federal CARES Act funds to support this grant program; $25 million for small small businesses/$10 businesses and $10 million for non-profits. The program will award grants in the amounts of $5,000, $10,000 and $15,000. The grants can only be used for costs incurred due to the COVID-19 pandemic and are designed to aid small businesses with 20 employees or less and non-profits with 25 employees or less. million for non-profits Visit Broward.org/Cares for eligibility and application requirements or call 954-357-6400.
https://www.youtube.com/watch?v=ftquLpbKsX8&feature=youtu.be
Consultant Author 200 Awards Excellence in creativity/small business Speaker SBA Small Business of the Year Passionate small business advocate
OPPORTUNITY
Pre-coronavirus thinking won’t prevail in a post-coronavirus world
LESSONLEARNED During the quarantine, most small businesses did not have the digital infrastructure to sell to or even keep in touch with their existing customers, much less find new ones. “Chaos will either break you or create you.” Tony Robbins
NEWCUSTOMERPROFILES The Fearless The Fearful The Unable The Cautious
2020HOLIDAYFORECAST Sales Overall sales increase between 3.5 and 4.1 percent* Online increase between 12 and 15 percent * Online holiday shopping will see a 33% year-over-year increase *** Independent retailers will see a boost of 107% in online sales vs 84% for larger retailers*** Shopping style One in five shoppers plan to primarily do their shopping in-store COVID Safety is key: Ultimately, consumers desire safety precautions 82% noting visible cleaning efforts were important 79% want to see staff and other customers wearing masks* National Retail Federation* Oracle’s annual global holiday shopping survey** Adobe***
KEYTAKEAWAY#1 Problem. Solution.
KEYTAKEAWAY#2
KEYTAKEAWAY#3
YOURHOLIDAYCHALLENGE Become a source of joy, excitement, comfort and convenience Create excitement without the crowds
HOLIDAYPREPARATION 1. Decide what you’re going to sell 2. Decide how you’re going to sell it 3. Let people know
HOLIDAYPREPARATION 1. Decide what you’re going to sell New needs New priorities New shopping patterns
HOLIDAYPREPARATION Recurring revenue /Increase average sale with subscriptions/memberships/bundles Babysitter in a box Happiness in a box Meditation sets ZOOM-ready looks (hair, makeup, clothing, jewelry) Hair color with monthly blowouts Home office décor packages Private pod classes Promotional packages
HOLIDAYPREPARATION RESTAURANTS Private dining Virtual parties Up your outdoor game! Date nights Virtual staycations Flights
POW!
HOLIDAYPREPARATION https://www.thinkwithgoogle.com/feature/category-trends/us/month/en
HOLIDAYPREPARATION 2. Decide how you’re going to sell
HOLIDAYPREPARATION TEST AT LEAST ONE NEW CHANNEL Virtual shows/sales BOPIS Add online-only options Curbside pick up Traditional e-commerce Social media flash sales Email Facebook/Instagram Shops Pop ups/Co-retailing E-bay /Amazon
HOLIDAYPREPARATION 3. Let people know
MARKETING IS… …. about making your business unforgettable “Marketing is no longer about the stuff you make but the stories you tell .” Seth Godin
DIGITAL FIRST START HERE! START NOW! • Increase your social media followers • Increase social media engagement • Increase email database • Clean up/add to your website • Claim/standardize all online review sites • Set up Google My Business
THE WHY
THE WHY THE WHENEVER HOWEVER WHEREVER CUSTOMER
THE PATH TO PURCHASE The more touchpoints you offer your customers, the better.
THE WHY “Near me “searches
HOLIDAYPREPARATION
HOLIDAYPREPARATION Exterior Space Intrigue. Excite. Inform. • “Selling” Windows QR Codes • Outdoor ambiance • Remove all friction • Digital signage
POW!
Windows that sell!
HOLIDAYPREPARATION FROM THE INSIDE OUT Create visual theater Instagrammable merchandising Front of store merchandising (in and out) Safety first
Use walls
Use ceilings
Unique props
HOLIDAYPREPARATION Tap into the power of Customer Loyalty Probability of selling Loyalty program members generate -to an existing customer 60-70% between 12-18 % more revenue -to a new customer 5-20% Over two- thirds of customers don’t see Existing customers much difference between one loyalty 50% more likely to try new products program and another spend 31% more than a new customer Increasing customer retention rates by just 5% can increase profitability by 25% or more!
HOLIDAYPREPARATION Premium Loyalty Compelling, changing benefits Focus on added value, not discounts Private Facebook groups Paid loyalty (memberships) Strategic partnerships Access If a customer already belongs to a free loyalty program, there’s a 73% chance they’ll be willing to invest in that brand’s paid loyalty program
HOLIDAYPREPARATION The money’s in the cards! Gift cards will account for approximately 20% of holiday sales! Two-thirds of consumers have purchased at least one gift card. The average amount loaded on a digital gift card is 10-15% more than a plastic gift card. 61% of gift card holders spend more than the amount of their gift card and 75% of those who overspend spend 60% more than the value of their card . Gift cards are most popular with teenagers. More than one in every four digital or online cards sold in December are sold between Dec. 21 and Dec. 24. 40% of gift card recipients do not use the total value of the card.
HOLIDAYPREPARATION The money’s in the cards! Put gift card promotion at the top of your “To Do” List Signage Employee training Incentives Bundle with purchase Add-on incentive Capture the late shoppers Dec. 21 and Dec. 24 Email daily during week before Christmas
The Black Friday vs. Small Business Saturday debate
SAFETY FIRST
www.angelcicerone.com/easyretailtechpodcast All other podcast providers http://brand-science.co/ecommerce/angel/
TAKEAWAYS/CONCERNS/QUESTIONS www.angelcicerone.com success@angelcicerone.com
Lauderdale-By-The-Sea Businesses Adapting to the Changing Environment
LBTS Merchants Association Small Business Saturdays The LBTS Chamber in partnership with the Town and the Merchant’s Association is holding Lauderdale By The Sea Shop Small Saturdays: SHOP Saturdays 11am-7pm on November 28 th , December 5 th , December 12 th , December 19 th , 2020 Celebrate our small businesses and help them thrive and stay vibrant during this Holiday Season. Avoid crowded malls, and shop SAFELY and LOCALLY with uncommon selections and reasonable prices.
• Opening Sunday, December 6 th 9-2pm Lauderdale-By By-The The-Sea Farmers Market • Open every Sunday until May 2 nd • El Prada Park • Social Distancing and COVID-19 Requirements
LIV IVE: Eva & Ell llen
Ch Chamber r Aft fter Hours: November r 11th @ 5:3 :30 pm Honor Our r Lo Local l Veterans and Meet t Your r Bu Busin iness Neig ighbors Joi Join via Zoo oom : https://us02web.zoom.us/j/88262237147 Di Dial l by y Pho hone : 301.715.8592 - Meeting ID: 882 6223 7147
Clo losing Announcements & Remarks
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