6 Tips for Retail Success in 2024: After the Show

02/22/24 • 19 min

In this episode of 'After the Show', we are live from Palm Springs after our first Oasis of Opportunity Retreat. I want to discuss additional strategies for retailers to focus on in 2024. I am joined by special guests Majda Rensberger from OneCoast and Steph Bechard from Crystal Media.

We are talking about the significance of adapting business strategies to effectively engage customers, the need for talent acquisition and delegation to scale up businesses, and the importance of storytelling in marketing and branding. The discussion also covers the critical role of email marketing and the need for retailers to surround themselves with growth-oriented peers to brainstorm and learn from each other.

Let’s dive in!

[00:00] Welcome from Palm Springs!

[00:57] Lesson One: If there is something that you really want to do, find a way to do it!

[04:16] Lesson Two: Invest in talent to scale your business

[06:36] Lesson Three: Make your brand more human

[08:51] Lesson Four: Focus on Storytelling!

[14:11] Lesson Five: Embrace Email Marketing

[15:18] Lesson Six: Find a Mastermind. Surround yourself with people who will push you to see things differently

Continue the conversation in the Rooted in Retail Facebook Group - https://www.facebook.com/groups/rootedinretail
Get all of the resources on our website at https://www.crystalmediaco.com/episodes/6-tips-for-retail-success-in-2024-after-the-show/

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Let’s dive in!

[00:00] Welcome from Palm Springs!

[00:57] Lesson One: If there is something that you really want to do, find a way to do it!

[04:16] Lesson Two: Invest in talent to scale your business

[06:36] Lesson Three: Make your brand more human

[08:51] Lesson Four: Focus on Storytelling!

[14:11] Lesson Five: Embrace Email Marketing

[15:18] Lesson Six: Find a Mastermind. Surround yourself with people who will push you to see things differently

Previous Episode

7 Marketing Trends Retailers Need to Know in 2024

In this episode of Rooted in Retail, we are diving into 7 marketing trends that retailers need to know in 2024. In a world of fast-paced technological changes retailers need to adapt or risk being left behind. Use this as your guide to find the right focus for your shop.

I will discuss the significance of AI in the retail industry, it has the potential to assist in tasks like brainstorming, content generation, and marketing strategy. Retailers should learn to embrace emerging platforms like TikTok because of its powerful local algorithm and the organic reach it can provide to shops. Retailers also need to consider creating memorable in-store experiences and meaningful, story-driven content for their customers. While social media might not be for everyone.

If social media is not something you want to invest in, I encourage you to make a commitment to a marketing platform and focus on connecting with customers. This will be crucial for success in retail.

Let’s Dive in:

[00:00] One-Year Review: Top 3 Episodes to Find Freedom in Your Store

[04:05] Trend #1: AI

[11:43] Trend #2: TikTok

[17:20] Birthday Giveaway Announcement

[18:01] Trend #3: Video, Video, Video

[19:39] Trend # 4: Create Meaningful Content

[24:42] Trend #5: Leveraging voice and video notes in DMs

[26:25] Trend #6: Create Memorable Experiences

[27:19] Trend #7: Go all in on a Marketing Channel (even if it's not social media)
Join the Rooted in Retail Facebook Group to continue the conversation. https://www.facebook.com/groups/rootedinretail
Get all of the resources on our website at https://www.crystalmediaco.com/episodes/7-marketing-trends-retailers-need-to-know/

Next Episode

Turning Your Passion to Profit with Andrew and Claire Bowen

Today, we're shaking things up and venturing beyond traditional retail to dive into the world of coffee shops. What lessons can we learn from the cozy corners of your favorite neighborhood cafes?

I had a lovely conversation with Andrew and Claire Bowen, the authors of the award-winning coffee book The Daily Grind. While their book was originally meant to be an extension of their business, it unexpectedly took off and turned them into industry coaches.

Now, Andrew and Claire are here to share their journey and how you can turn your passion into a profitable business. Get ready to dive deep into money management, finances, and budgeting, as they serve up some practical tips and mindsets to help you keep your business on track and your budget in check.

Plus, they'll be breaking down what exactly makes for a healthy net percentage and how you can maximize your cafe's earnings. We’ll also uncover how the retail world and coffee shops go hand in hand, including the importance of community involvement and what you should really be looking for in a new hire. Let’s dive in!

[0:00] Welcoming Claire and Andrew

[04:24] The winning strategies that helped transition Andrew and Claire's love for coffee into a profitable and scalable business model

[07:34] Debunking financial planning myths for independent retailers to ensure longevity and growth

[12:29] How Andrew's 25 years of retail experience shaped his entry into the coffee industry

[14:49] The key exercises that can help retailers predict startup costs and sales potential for a coffee business

[19:05] What is the average profit margin for coffee shops?

[21:21] What lessons can we learn from the journey of this independent cafe overcoming challenges?

[25:43] What Claire and Andrew are most proud of in their business

[28:47] Andrew and Claire's resilience round

Be sure to join us in the Rooted in Retail Facebook Group for After the Show Live! https://www.facebook.com/groups/rootedinretail
Connect with today's guest and get all of the resources on our website at https://www.crystalmediaco.com/episodes/turning-your-passion-to-profit-with-andrew-and-claire-bowen/

Rooted in Retail - 6 Tips for Retail Success in 2024: After the Show

Transcript

00:00:00.200

Hello, and welcome to After the Show. I am Crystal Vilakaitis, your host of Rooted in Retail. And if you are watching this, I am in a new location. I am in Palm Springs in a gorgeous Airbnb because we just wrapped our very first Oasis of Opportunity retreat where we just spent two full days with incredible retailers, workshopping their business and helping them to the next level, their next You2.0. Next level of success, reaching those goals, getting clear on their vi