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Using SQL to the make the most of your small business data
Lonny Alfred MarketingDo you know the answers to some basic questions about your business? Are you getting more customers or fewer this month compared to last? What percentage of customers are active on your platform? Who are your most active users? Who are your most valuable customers?
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Use the 4C formula to double your closing ratio
Fred Berns RetailBusiness professionals who struggle to close sales need only follow the 4C formula. Determine the conflicts — the biggest challenges and pains a prospect faces that your product or service may resolve. Then communicate your ability to help him or her overcame that discomfort.
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Figuring out where your business will thrive, not just survive
Dale Willerton and Jeff Grandfield RetailThe commercial leasing and site-selection process is not easy or even enjoyable for most tenants. But predicable results can be achieved with some professional help and a proper game plan. The core reason why commercial tenants struggle with and fail to lease the optimum site for their business is simply the lack of knowledge that comes from insufficient experience. If you combine that with impatience, you've got a disaster in the making.
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How Obama’s new proposed overtime rule affects your business
Jessica Taylor RetailAn important change in the American workplace is occurring — and it could affect you and your business. A proposed new rule regarding overtime pay would mean increased paychecks for up to 5 million workers, according to the Obama administration.
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Reducing employee turnover: 4 strategies that work
Bianca Gibson Business Management, Services & Risk ManagementBy the time your top talent is in an exit interview, it's too late to determine what could have been done differently. But, how you react to the situation can make all the difference. A new survey by the Society for Human Resource Management and Globoforce discovered that 40 percent of human resource professionals cite employee turnover/retention as their top organizational challenge. Employee retention does not rely solely on recognition and engagement, but requires an assortment of key elements.
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CVS buys Target’s pharmacy business: So what?
Jason Poquette PharmaceuticalIn a move that caught nearly everyone by surprise, CVS Health announced June 15 that it would purchase and begin operating the retail pharmacy business for Target. Soon, nearly 1,700 Target pharmacies and pharmacy personnel will be rebranded as a CVS/pharmacy operating within the Target stores. The move puts $1.9 billion into the pocket of Target, which had struggled to make a profit from its prescription business line.
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Why aren’t you personalizing your marketing?
Peter Moloney MarketingAre your marketing programs really delivering the most relevant, personalized message to each individual customer? If not, why not? I'm not talking about inserting the customer's name in the marketing content. I'm not talking about delivering customized messages to different segments or groups of customers. I'm talking about putting the right offer in front of every "individual" customer at the right time — the one most likely to get them to buy now. Is there a more important objective for marketing than that?
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10 tips for managing the ‘talent’ in the fish room
Kevin Plazak RetailThere are a lot of options for stocking a fish room. There are things you really have to have, would do well to have and things that will set you apart. A knowledgeable fish room person knows about fish that are not commonly available to the public. They probably have seen enough guppies and neon tetras to last a lifetime, and are looking to see something new and different. Here are some suggestions that will allow you manage your inventory and fish room employee.
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Selecting the right professional to help you, the tenant
Dale Willerton and Jeff Grandfield RetailThe difference between success and failure in a business can easily come down to your location and lease terms. But if you’re not an experienced and savvy negotiator, you may not stand a chance against the landlord or his real estate agent. Bringing in someone who will either go to bat for you or even take the whole negotiating process off of your shoulders can save you money in the long run. There are options available, and it is vital that you understand them.
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Who’s buying luxury home goods?
Michael J. Berens Interior Design, Furnishings & FixturesOnce synonymous with wealth, opulence and exclusivity, luxury has become more accessible. Consequently, it now means different things to different groups of consumers. Today, luxury is linked with other values besides just the accumulation of riches and power. Appealing to the luxury home goods shopper requires a deeper understanding of how they view themselves and what motivates them to buy.
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