Hey there and welcome to our latest This Week in Retail roundup! We’ve got a great mix of articles today so you’re bound to come across something good. From implementing social loyalty programs to paying attention to what’s happening in Congress, the following articles should get you up to speed on the hottest issues in retail.
1. 5 mistakes every small business owner may be making – The success of your business is determined not just by your time and financial investments but also by the mistakes that you may or may not be making, writes Nicole Reyhle on Forbes. This is why retailers need be mindful of their business decisions and ensure that they’re able to correct any errors as soon as possible. In this post, Nicole talks about five big mistakes that you could be making in your business. Go through her points and see if you’re committing any of them in your store.
2. Social loyalty programs pay off for retailers – Social loyalty is a brand affinity that goes beyond transactions. It’s a type of loyalty that stems from emotions and advocacies. Focusing on social loyalty (in addition to transactional) comes with plenty of benefits, including word-of-mouth marketing and immediate response opportunities, among others. Read this post to learn more about social loyalty and how you can leverage it in your business.
3. Your most important leader probably isn’t the CEO – Sometimes, the most important leaders in an organization are the ones who don’t hold an executive title, says Kevin Graff. In his latest blog post, he puts the spotlight on district managers—those who “carry the torch for you at the territory level.” Kevin tells us why these individuals are so important, and what you can do to assess the capabilities of your field management team and ensure that they are successful.
4. Top sound bite – “omnichannel is the new retail normal” – “The greatest challenge for retailers today is that omnichannel is the new normal for consumers … and as a result, it has changed their expectations … forever!” That’s the powerful point that Chris Petersen, CEO of Integrated Marketing Solutions, wants to make in his recent blog post. Here he shares the top sound bites that retailers must internalize to achieve omnichannel success. Check it out!
5. 5 big policy debates affecting small business right now – Keeping abreast with national issues and what policy makers are up to is part of being a retailer. After all, a lot of what they’re doing can affect how you do business. If you’re a US retailer and need to catch up on what’s happening in Congress, then this post is a must-read. The NRF gives an excellent rundown of the top five policy debates that could affect small businesses.
About Francesca Nicasio
Francesca Nicasio is Vend's Retail Expert and Content Strategist. She writes about trends, tips, and other cool things that enable retailers to increase sales, serve customers better, and be more awesome overall. She's also the author of Retail Survival of the Fittest, a free eBook to help retailers future-proof their stores. Connect with her on LinkedIn, Twitter, or Google+.