A number of brands seek to place their products and services in front of recognized influencers with lots of followers. Beyoncé, Miley Cyrus, Rihanna and Kanye West come to mind. Influencer marketing is a huge business with more than 73 percent of luxury fashion and beauty brands actively participating, according to a report from Fashion and Beauty Monitor entitled, The New Face of Luxury.
“In the U.S., they’re cutting corners and cheating, and driving everything to the lowest common denominator – in the brands themselves and in the channels of distribution: department stores, shopping centers. And it’s reaching the point of no return, which means that retail in the U.S. will have to reinvent itself,” claims Value Retail’s CEO Scott Malkin in a recent Glossy interview. Value Retail owns and operates 11 luxury outlet centers in Europe and China
In his book, The Land of Strangers, Robert Hall writes, "The truth is, relationships are the most valuable and value-creating resource of any society. They are our lifelines to survive, grow and thrive." As company leaders, bosses and mentors, what are you doing to help your team members and coworkers build their network of professional relationships? What encouragement are you providing? What opportunities are available and does your team know about them? What are you doing to help yourself?
“In the U.S., they’re cutting corners and cheating, and driving everything to the lowest common denominator – in the brands themselves and in the channels of distribution: department stores, shopping centers. And it’s reach the point of no return, which means that retail in the U.S. will have to reinvent itself,” claims Value Retail’s CEO Scott Malkin in a recent Glossy interview. Value Retail owns and operates 11 luxury outlet centers in Europe and China.
Consultants Dan Hay and John Marshal recently published a research study entitled the Happiness Halo that identifies three parts of the customer journey that enable showrooms to make emotional connections with their customers. They are anticipation, interaction and afterglow.
Nordstrom is known for its exceptional customer service and does not deny publicly that it once took back a set of tires from a customer who was dissatisfied with the purchase even though Nordstrom does not sell tires. The story is not true, but that’s not the point. It speaks to the Nordstrom brand. Similar to other brick and mortar department stores, Nordstrom is challenged by a paradigm shift in the way consumers shop. In response, Nordstrom is constantly tweaking its business model to maintain its relevancy to its customer base and to provide more compelling customer experiences.
Michael Lewis has penned numerous best-selling books, including The Big Short, Flash Boys and Moneyball. In a recent interview with University of Pennsylvania Professor Adam Grant, also a best-selling author, Lewis shared several keys to exceptional story telling that can help kitchen and bath showroom professionals better connect with their clients and prospects.
When someone comes to your showroom unexpectedly, how you approach, greet and interact could be the difference between landing a new customer or watching them walk out the door. Idle chit chat most likely will not land you a new customer. When you approach don’t ask, “How are you doing?,” because the prospective customer most likely figures you couldn’t care less how he or she is doing. A much better approach is to say, “Welcome to our showroom. Please feel free to wander around. If you don’t mind, I’ll check back with you in a few minutes to answer any questions you may have.”
Have you noticed that customers will readily drop $20,000 on a new refrigerator for their kitchen renovation but balk at spending $500 on a new faucet. The fact that they may be without a place to cook for two months does not seem to bother them as much as a $200 change order. If you examined the things that drive your customers crazy, chances are they are not big picture items. Instead, it’s the small, pesky inconveniences that send them off the deep end.
Many BKBG Shareholders complain about the Internet. They believe that the reason most customers don’t buy from their showroom is because their customers can buy for less someplace else. Sales Guru Bob Phelps argues that a lost sale is never about price or the product. A sale is lost because the sales professionals do not allay buyers’ fears. Phelps argues, “When you can remove risk or regret, your shopper is likely to buy.”