Adapting to the Changing Envir ironment November 6, 2020 Agenda - - PowerPoint PPT Presentation
Adapting to the Changing Envir ironment November 6, 2020 Agenda I. Welcome and Opening Remarks II. Updates from Town Officials III. How to Prepare for the Craziest Holiday Season Ever! Angel Cicerone, Founder, Tenant Mentorship
Adapting to the Changing Envir ironment
November 6, 2020
Environment
CARES Act funds to support $25 million for small businesses/$10 million for non-profits
Monday, November 9 through Monday, November 16. The Board of County Commissioners allocated $35 million from the County’s federal CARES Act funds to support this grant program; $25 million for small businesses and $10 million for non-profits. The program will award grants in the amounts of $5,000, $10,000 and $15,000. The grants can only be used for costs incurred due to the COVID-19 pandemic and are designed to aid small businesses with 20 employees or less and non-profits with 25 employees or less. Visit Broward.org/Cares for eligibility and application requirements or call 954-357-6400.
https://www.youtube.com/watch?v=ftquLpbKsX8&feature=youtu.be
200 Awards Excellence in creativity/small business SBA Small Business of the Year Passionate small business advocate
During the quarantine, most small businesses did not have the digital infrastructure to sell to or even keep in touch with their existing customers, much less find new ones.
“Chaos will either break you or create you.” Tony Robbins
The Fearless The Fearful The Unable
The Cautious
Sales Overall sales increase between 3.5 and 4.1 percent* Online increase between 12 and 15 percent * Online holiday shopping will see a 33% year-over-year increase *** Independent retailers will see a boost of 107% in online sales vs 84% for larger retailers*** Shopping style One in five shoppers plan to primarily do their shopping in-store COVID Safety is key: Ultimately, consumers desire safety precautions 82% noting visible cleaning efforts were important 79% want to see staff and other customers wearing masks*
National Retail Federation* Oracle’s annual global holiday shopping survey** Adobe***
Become a source of joy, excitement, comfort and convenience Create excitement without the crowds
New needs New priorities New shopping patterns
Recurring revenue /Increase average sale with subscriptions/memberships/bundles
Babysitter in a box Happiness in a box Meditation sets ZOOM-ready looks (hair, makeup, clothing, jewelry) Hair color with monthly blowouts Home office décor packages Private pod classes Promotional packages
RESTAURANTS
Private dining Virtual parties Up your outdoor game! Date nights Virtual staycations Flights
https://www.thinkwithgoogle.com/feature/category-trends/us/month/en
BOPIS Curbside pick up Social media flash sales Facebook/Instagram Shops E-bay /Amazon
TEST AT LEAST ONE NEW CHANNEL
Virtual shows/sales Add online-only options Traditional e-commerce Email Pop ups/Co-retailing
“Marketing is no longer about the stuff you make but the stories you tell .” Seth Godin
START HERE! START NOW!
The more touchpoints you offer your customers, the better.
“Near me “searches
QR Codes
Exterior Space
Create visual theater Instagrammable merchandising Front of store merchandising (in and out) Safety first
FROM THE INSIDE OUT
Probability of selling
5-20% Existing customers 50% more likely to try new products spend 31% more than a new customer Loyalty program members generate between 12-18 % more revenue Over two-thirds of customers don’t see much difference between one loyalty program and another
Tap into the power of Customer Loyalty
Increasing customer retention rates by just 5% can increase profitability by 25% or more!
Premium Loyalty Compelling, changing benefits Focus on added value, not discounts Private Facebook groups Paid loyalty (memberships) Strategic partnerships Access
If a customer already belongs to a free loyalty program, there’s a 73% chance they’ll be willing to invest in that brand’s paid loyalty program
Gift cards will account for approximately 20% of holiday sales! Two-thirds of consumers have purchased at least one gift card. The average amount loaded on a digital gift card is 10-15% more than a plastic gift card. 61% of gift card holders spend more than the amount of their gift card and 75% of those who overspend spend 60% more than the value of their card. Gift cards are most popular with teenagers. More than one in every four digital or online cards sold in December are sold between Dec. 21 and Dec. 24. 40% of gift card recipients do not use the total value of the card.
The money’s in the cards!
Put gift card promotion at the top of your “To Do” List Signage Employee training Incentives Bundle with purchase Add-on incentive Capture the late shoppers
Email daily during week before Christmas
The money’s in the cards!
www.angelcicerone.com/easyretailtechpodcast All other podcast providers http://brand-science.co/ecommerce/angel/
www.angelcicerone.com success@angelcicerone.com
Adapting to the Changing Environment
The LBTS Chamber in partnership with the Town and the Merchant’s Association is holding Lauderdale By The Sea Shop Small Saturdays: SHOP Saturdays 11am-7pm on November 28th, December 5th, December 12th, December 19th, 2020 Celebrate our small businesses and help them thrive and stay vibrant during this Holiday Season. Avoid crowded malls, and shop SAFELY and LOCALLY with uncommon selections and reasonable prices.
Lauderdale-By By-The The-Sea Farmers Market
Ch Chamber r Aft fter Hours: November r 11th @ 5:3 :30 pm Honor Our r Lo Local l Veterans and Meet t Your r Bu Busin iness Neig ighbors
Joi Join via Zoo
Di Dial l by y Pho hone: 301.715.8592 - Meeting ID: 882 6223 7147
Clo losing Announcements & Remarks