Banbury retailers urged to do more than just ‘open’

The call comes from business growth specialist Kevin Riley, of ActionCoach, who warns the days of opening a shop and expecting customers to pop in are over.

Mr Riley, who has supported a number of local retailers, most of them needing vital guidance to keep the momentum going throughout lockdown, said: “It’s an incredibly difficult time for everyone right now, especially those smaller businesses that depend mainly on local support.

“As we approach a ‘new normal’, it’s time for them to start thinking about innovative ways to work with their customers once again.

“Gone are the days when we open our high-street shop and simply expect people to come in, we have to work hard and cleverly at encouraging them to do so.”

Mr Riley’s warning comes during Independent Retailer Month, a national campaign that has run through the month to highlight the importance that local retailers play in the communities they serve and their contribution to the community’s overall economy.

He added: “The next few months for business will most likely be the most challenging time they’ve ever faced, so preparation is key.

“It’s crucial for survival as a local retailer to consider every aspect that will help the business to thrive in the future.”

Mr Riley has set out five key tips for retailers to maximise their potential during this transition period:

1. Know your numbers. Of course, it’s important to understand your profit margins for products and services but knowing your numbers is about so much more than that. How much does it cost to gain a lead for a potential customer and how many would you normally convert into a paying customer? Whether you’re just opening back up for business or welcoming customers adjusting from online purchases to in-person visits to your store again, knowing the numbers in your business is key.

2. Keep in regular contact with your customers. This is paramount. You should have continued to engage with your customers throughout lockdown anyway, but make sure you reach out now to make contact. Share your good news stories, promote new products, share pictures of your shop/services and interact with your customers. Your social media platforms are the easiest and most-effective way of keeping the conversation going - keeping customers in the loop is crucial for retaining them.

3. Invite your customers by ‘appointment only’. This should be obvious by now, but your customers need to know that they will be safe when on your premises. Create a robust appointment system with allocated time slots for your customers. Another great benefit is showing how you value them as a customer, as one-to-one time is vital for building a lasting relationship.

4. Promote ‘shop local’. You can promote the importance of shopping local and supporting the local high street. Incorporate it into your messaging, place stickers in your windows and shout about it on social media. Now’s the time to create a community of abundance and there’s no better way than highlighting just how important that really is. Don’t forget, by shopping local, people need not travel unnecessary distances.

5. Start a referral group. Clubbing together with other local businesses will give you a lot more clout: you can offer each other guidance and support, as well as sharing any ideas for best practice. Having the chance to interact with like-minded business owners promotes a healthy environment - imperative for exiting this period stronger than when you went in.

For more details visit www.warwick.actioncoach.co.uk