The word “invest” can be scary. It requires giving something of yourself, with hopes that that something will turn into more somethings.
An investment doesn’t have to be monetary. Sometimes an investment is your time, your energy, and your dedication.
When you think about it, we all make investments every day. We invest in little things like food to eat, knowing that the energy it produces will allow us to work hard, earn money, and buy more food. We invest in gas for our vehicles, knowing that we’ll be able to get around, do our jobs, earn money, and buy more gas.
It’s a simple, necessary practice.
Occasionally an investment is a major change or overhaul, but often it’s just ordinary maintenance.
So why are we so hesitant to invest in our businesses? Haven’t we learned that a wise investment will be well worth it in the long run?
Start with a little thing. Maybe you could buy a pouch of doggie treats to reward Princess when she’s on her best behavior while her person is shopping. Maybe you could get a pack of crayons and some coloring sheets (with your logo on them, of course) to entertain Max while his dad’s returning those shoes that didn’t fit.
It’s essential to invest in your customers. Treat them with respect, fairness, and a professional, neat store. Don’t take advantage of them with gouging rates and negativity, because they’ll never come back. Rather, create customers for life that will exponentially help your business with positive word of mouth marketing. This investment will foster repeat business and house accounts.
Invest some time to write a hand-written thank you note to a good customer, and be sure to send your best accounts holiday cards at the end of the year. Give your exceptional drivers little treats every now and then, and a decent gift in December to thank them for their extra hard work.
Invest in quality, impactful, tasteful street signage and marquees. You want your customers to easily find you, know what you do at a glance, and be impressed that you’re in this for the long run.
Invest in inventory. Do you go grocery shopping at the gas station, with their tiny little section of nuts and soda, crammed next to spark plugs and chewing tobacco, or do you go to the shiny, stocked, always-something-new megastore to stock up for the week? It’s the megastore, right? Why? Because their inventory is impressive, you know they’ll have what you need, and it’ll be fresh.
Use your head when buying inventory. What sells? What’s your core market? Having some fluff is fine—goodness knows that I have plenty of fluff at my store—but what you should really invest in is what makes your store unique.
Dedicate a weekend to freshen up your store. Maybe it needs a coat of paint, a good scrubbing, or rearranging. Invest in overtime pay for your employees with good aesthetic eyes to come and help you. Order a pizza and make a party out of it.
Do you have a proofreader handy to look over your marketing communications before you send them out? Get one. Pay one, or find an employee, friend, or family member with a sharp eye for grammar that would be willing to help you and provide honest, objective criticism.
What are your systems and equipment like? Would upgrading them be faster, safer, and save you headaches and time? Would newer stations impress your customers and make you look current, rather than living in bygone days?
Have you invested your time to really learn everything that your point of sale software can do? Have you trained your staff to utilize it to its full capacity?
That leads me to the last investment that I’ll mention, which is vital: your staff.
You must—absolutely must—invest your time and capital in finding and recruiting employees with the right personalities and attitudes.
Of course, you need to take time and energy to train those personalities to understand unique industry regulations, tricks, and practices. But more importantly, you need to train your staff on customer service.
Set up scenarios for your new hires, and refreshers for your trusty old faithfuls—scenarios that perhaps you’ve personally encountered before—where a difficult customer could cause frustration or flustration and demonstrate how to handle it in a confident, professional, pleasant manner.
Invest time to get to know your staff and develop a rapport. Just as you expect them to cater to your business needs, return the favor and cater to them a bit too. What kind of music do they like? Are they comfortable in your store’s uniforms? Do they have any fresh ideas that could step your business up a few notches?
Have an annual (or semi-annual) staff meeting. Most stores choose to do this at the end of November to prepare for the December rush. Get some training in, make sure everyone’s on the same page, but also encourage an open dialogue. Discussions with your whole staff involved will really open your eyes and spark positive change.
Do you have an incentive program in place to reward good deeds, good attitudes, and good sales? You should. Paid days off, gift cards, prizes, parties, and theme days are all great ideas.
The investments you can—and should—make are innumerable. Look around and see what needs a boost. Put some time and effort into it, maybe some elbow grease, and a little cash.
If you spend your resources wisely, you’ll reap the rewards.
#MarketingwithMarty
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A version of this article was originally published in MBC Today Volume 17, Issue 1 (January/February 2015).
For more information on Marty, please visit unclemartysoffice.com.
Source: AMBC Blog