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peaker, author, and market researcher Pamela N. Danziger that translates into a desirable shopping experience.
is internationally recognized for her expertise on the world’s In many ways, evolving options for consumer purchasing has
Smost influential consumers: the American Affluent, including created a lot of confusion for small, independent retailers, because
the HENRYs (high-earners-not-rich-yet) mass affluent. We had the most small businesses operate under the old 4 P’s of marketing
opportunity to interview her recently for JHJ magazine, and get her framework, which are Price, Product, Promotion and Place.
thoughts on where small business is headed for 2018.
I recommend that small retailers forget about the 4 P’s and adopt
JHJ Mag: You are a strong advocate for small businesses. Why
a new strategy with the “4 E’s,” which are Experience, Exchange,
are you so passionate about small businesses and what do you
Evangelism and Everyplace. The secret is to use these 4E ideas to
think is the one trait that a small business owner must possess to be
communicate and deliver meaningful value and experiences to your
successful?
customers.
Pam Danziger: My message is “Small is the Big Story,” when
Start by thinking about where you like to go shopping. Where do
it comes to retail. Small, independent retailers have the ability
you get your greatest thrill? Study those retailers and experiences
to create a personal, eye to eye relationship connection with their
that are special and exciting to you.
customers that big box retailers can’t cultivate. That is the key,
strategic advantage for small businesses, and they need to capitalize Take some time to get out into your community. Too many retailers
on that in every way. The #1 trait I believe independent retailers think of themselves vertically. As a business owner, you can learn
need to develop is a helpful, friendly, personable attitude to interact a lot from many other types of small businesses, not just other
with customers. And if the business owner doesn’t want to be jewelers.
the face of the business and carry that position, they need to hire The two main factors in creating an enjoyable shopping experience
someone to fill the role of business ambassador for them. and engaging people are touching/interacting with products and
If you own a retail business and are spending more than 50% of people in the store, and just spending time inside. The more your
your time in the back room, then you are not delegating your time customers are talking, touching and trying things on, the greater
properly and sales are going to reflect that. As a business owner, it amount of time they will spend in your store, which will translate
is up to you to model the type of customer service you want your into higher sales. The experience is what comes to the forefront.
business to provide, and let your staff take their cues on customer JHJ Mag: How do you think AI will affect small businesses and
interaction from you. do you see an easy way for small businesses to adopt AI into their
Because of the unique nature of the jewelry industry, many bench overall business strategy?
jewelers are store owners as well. Bench jewelers need to make
their own call to take a hard cold look at the business they are in.
Are you a retailer who runs a jewelry store first or a bench jeweler
who owns a jewelry store? These are two totally different skill sets.
If you want to be successful at retail, then you need to focus your
attention and energy on being a retailer, not a jewelry designer or
bench jeweler. The start of a new year is a great time to reexamine
your priorities as well. You might have made decisions 10 years ago
that were right for you and your store 10 years ago, and have now
become fixed in stone. Everything continues to evolve in business,
and a decision that was right for you 5 or 10 years ago might be very
wrong today.
JHJ Mag: In your book, “Shops that POP!” you outline 7
steps to extraordinary retail success. and discuss a retail shopping
“experience.” What is your definition of a retail “experience” and
how important is that to targeting and growing a customer base?
Pam Danziger: As far as the “Retail experience,” is concerned, the
main message I have observed is in the past, shopping and buying
Pam Danziger: One topic that I believe small retailers can ignore
went hand in glove - you had to go shopping to buy something.
is AI. It’s much ado about nothing as far as I am concerned for
Today, shopping and buying are not one and the same. When
independents. If they are busy worrying about AI then they are
you want to buy a product today, most people, they go right to the
taking their eyes off what they should really be worried about,
internet and buy it.
which is creating extraordinary personal experiences for customers
When consumers today decide to go shopping, they are making in their stores. Person-to-person, hand-to-hand, and eye-to-eye!
a choice to become involved in a retail experience. They want
to actively engage with people and products and are oftentimes I say this because AI isn’t here yet, and what small retailer has the
deliberately seeking out the expertise of small, independent retailers money to invest in the development of it? Start with your basics,
to help them make decisions on important purchases. a great website, creative social media, developing your Facebook
and Instagram, and so on. A lot of small businesses don’t have
As a retailer, it is up to you to identify and create ways that you can
elevate every “store visit,” into a memorable “customer experience.” the technical expertise they need to develop these areas, and don’t
It is less about what you are selling and more about how you sell it
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