EPISODE 33 OF THE MARKETING SOLUTIONS PODCAST: Making a Comeback in the Retail Space Post COVID-19 With Marguerite Bell From Retail Life
Sonya:
Today, I am joined by Marguerite Bell, who owns a company called Retail Life. Marguerite, thank you so much for taking the time to join me.
Marguerite:
Hi Sonya. Thank you for having me.
Sonya:
So I guess first of all, who are you, what is Retail Life, and what do you help businesses do?
Marguerite:
Okay. Well, I think I should start by letting you in on the fact that I'm passionate about everything retail, and also perhaps let you in on the fact that I've had over 30 years experience in retail. Sonya, that makes me feel really old when I tell you that, but I think it's important that you know that I've been around for a while. I've been really lucky because I had such a privileged early career working in retail with large national retailers such as BIG W, Suzanne Grae, then onto successful independent retailers such as Wombat, which is now known as W.Lane and then onto the Pretty Girl Group which included Rockmans and Table Eight and stores like that. So, it really stood me in great stead to eventually start my own business. And in those roles, I went across many departments, from store management, to area management, to national roles, inventory management, HR, really the least closed on. And I think that has been so valuable for me particularly in my later life with my retail consultancy business called Retail Life.
I think the other thing that's really important for me as I think about blending my business and my personal life together is that I try to blend them with an optimistic, real, and dedicated approach, and that's what Retail Life was founded on, along with an energetic spirit and an absolutely single-minded vision to breathe life into Australian retail, and that's what we aim to do here at Retail Life.
Sonya:
Amazing. So on a practical level, what do you actually do with retailers? So you come into their business ... Break it down for me.
Marguerite:
Okay, so what we do at Retail Life is we aim to work with retailers. We're very hands on. We aim to equip them with tools to help attain best practice operations, actual learning, and ideally, reinvigorate them to think futuristically about their business and to improve. So, we work from the smallest market store operator, through to independent retailers, national icons, franchise businesses, shopping centers. We nurture with hands-on actual advice to help them coordinate a business advantage and grow.
Our aim is to give them practical simple steps and tools and advice for them to implement into their business to see change.
Sonya:
Amazing. So back when you first started your business, Marguerite, how did you get your first clients? Obviously, you've been in the industry for quite a while. Was it just through word of mouth and connections? How did you let the world know, "Hey, I'm open for business"?
Marguerite:
Well, that was really interesting because it really ... It wasn't me going out there, Sonya, actually. It was people coming to me, people that I'd worked with previously who just, out of the blue, reached out and asked for me to assist them with projects within the businesses that they were currently working. And that included new brand openings, and that might result in needing roll-out strategies, project management, task facilitators. All those sorts of interesting bits and pieces.
It included implementing and coordinating new point sales system projects, and that ... I can remember writing point of sale manuals, and doing training programs, and delivering training to their teams nationally. Then from there, that really led on to consultant to smaller retailers requiring their own business coaching, along with staff training and implementing foundations, particularly when it came to sales training and service delivery. And then really, the business just grew from there.
Sonya:
Fantastic. So, what is something that you see that Australian retailers do time and time again that really grinds your gears? Is there anything that you have a bit of a pet hate about that you go, "Oh, it's such a simple fix, if you only did this one thing, you'd see such a big difference in your business?" Does anything come to mind?
Marguerite:
It does actually. And I think that it's really important. We work with hundreds of businesses every year, and so many of those are small independent retailers. And they are so busy working in their business, and not working on their business. And if they only took a small amount of time to put some business foundations in place, their lives would be changed dramatically, and I mean simple things such as understanding who their target market is, who their competitors are, what their point of difference is, and then how they're going to actually move their business forward.
Because regardless of whether we're in COVID-19 or we've looked behind at these previously, retail is a changing and evolving industry, and it will continue to be that, and retailers need to be able to move forward and to come up with new ideas and new strategies to make their businesses survive. So, the essential things I'd say, do those elements, and implement them into your business, and change will occur from there.
Sonya:
Speaking of COVID-19, so we're actually recording this during the time of lockdown. I'm hoping by the time this goes to air, that we're going to be out the other side. But, you have been working on some sort of exciting content and trainings during this shutdown period. Can you tell me a little bit about what you're going to be launching or taking to retailers after COVID-19 is over?
Marguerite:
Yes. Absolutely. Excited to tell you a little bit about what's been happening behind the scenes at Retail Life. Well at this present point in time, we have three focuses. Our first is what we would call our retail ready approach, and our focus during Corona is certainly to ensure that retailers are retail ready both now and in the future. We've been providing free retail tactics across our social media platforms, which I'm sure you've seen. And they're there to help retailers maintain focused on their business, and ensure that they're taking actions to survive, and ultimately thrive post-COVID-19.
For [inaudible 00:07:00], we're also offering some different elements based on tech sessions, Zoom interim sessions, and remote sessions. So where we can't be physically hands-on, we're still closely associated. And the aim of these different types of sessions are to help retailers work in their business now. So, not to just stand back and let time go by, but to actively identify opportunities and be able to share simple and practical ideas with them to survive and come out thriving the other side.
Our second key focus is what we call our retail reset game plan. We're encouraging retailers to develop a retail reset strategy. We see that there's four key pillars that they should be focusing on, and they need to plan, prepare, prioritize, and act, both now and in the future. And we see that, with those pillars, there needs to be six Ps. They can [inaudible 00:07:58] out their retail business. We see them as being team, customers, product, marketing, processes, and performance.
And if they can be thinking in this state of mind and look to a retail reset and develop a strategy, they'll definitely come out the other side in a really positive stage. And fortunately for us, we're actually also working on a virtual education opportunity with Property Accounts of Australia Academy on this retail reset game plan, so that's very exciting. And-
Sonya:
Oh fantastic.
Marguerite:
Yeah it is. And our third focus is our get retail savvy community. So at Retail Life, we are always focused on ensuring that retailers are building foundations for their future, and that doesn't change whether we're here or whether we're in July or December 2020 or 2022. That's how we see it. And as I mentioned, we find that retailers all have some common traits. They work extremely hard. They're remarkably busy working in their business, not on their business, as I mentioned. And that they're essential business foundations aren't in place.
And this, I believe, is really costing both in sales and profit maximization. So with that in mind, we're busy behind the scenes preparing for the launch of our education community. With this, it is going to be slightly different because we're offering an integration of offline and online education, and that's going to merge to form our community of Retail Life, who their main priority will be to get retail savvy, and the aim being to learn, and then come together to drive a collaborative approach to business performance and development.
So, I think of it as being, I think, tight for the business. But, you're using the minds and the talents of other like-minded retailers. So, we think that's going to be very exciting. So, stay [inaudible 00:09:50] for that one.
Sonya:
You have been so busy, Marguerite, from the sounds of things over the last three or so weeks. So, is the best place for people to find information about this just on your website, once it's all up and running?
Marguerite:
Yeah, absolutely. Yes. You can go to www.retaillife.com.au, or certainly follow us on Instagram @livebreatheretail.
Sonya:
Amazing. Okay. So back when all the shops are open again, what are your thoughts around the in-store experience actually being a form of marketing? Any sort of tips for retail business owners on improving that experience for customers?
Marguerite:
Yeah. Absolutely. I think that this is a really interesting topic because we don't often think about marketing as an in-store experience, and I think it should be thought of as that way. In fact, the in-store experience brings marketing to life in many forms. If we take a simple store window, for example, people walking past, it's your opportunity as a retailer to grab their attention, and to draw them in. The windows, which can include your marketing campaign material, even simple things such as a web address, is essential for the windows to create an interest and desire for customers to come in and to purchase, and perhaps to also learn about the services that you offer.
I think that the in-store experience brings marketing to life in many forms, from brand awareness, to brand ambassadors, and promotions, and loyalty programs. So, I think it has a really important place and part to play when it comes to marketing. For me, I really believe that every retail store must have a marketing calendar. They must be a theme, or themes, for the month. And then, it needs to be broken down by week and channel.
But not only do you have that, a store has to have a visual merchandising calendar that's developed along to support in align to the marketing calendar. So, something like ... My tip to any retailers out there, if they're listening, today, if they're not doing this, start now. It's certainly the perfect time to think about marketing from an in-store perspective, but marketing on a whole as part of your retail reset. And obviously, utilize your skills, knowledge, and talents to be able to make that happen for them.
Sonya:
And I think, this is something that I say across all businesses, is that they'll roll out a marketing message, or a campaign, and they might only do it on social media. But, they're not also looking at what they're doing in their brick and mortar store. They're not looking at their website. They're not looking at how they're communicating across all channels, this one key marketing message or theme that is running.
And I just think it's such a wasted opportunity. If you're going to put that effort into creating your theme and creating your marketing assets and whatever it might be or a promotion, why not roll it out across everything? That way, you're going to hit the biggest audience possible, and get the best results from it. And it sounds simple and common sense, but you'd be amazed at how many businesses don't actually do that.
Marguerite:
Absolutely. I couldn't agree with you more. In fact, I say if you're not going to do it across every channel, then why even do it, to be honest, because every channel plays such an important part of a retail brand, and they're all there for different reasons. But, it's about having an alignment. And then as a customer ... For example, if you're shopping or researching a brand online, if there's disconnect from what you see online to when you actually go into the bricks and mortar store, it really tends to water down the context of the brand that you're wanting to shop with.
So, I absolutely think that any form of marketing, whether it be a campaign or a promotion, needs to definitely come alive, not only online, but certainly offline in the in-store experience.
Sonya:
So, obviously at the moment with COVID-19, we're seeing a lot of retailers do some pretty extreme sales that are happening to, I guess, just generate cash flow at the moment. As we're coming out the other side, what sort of advice do you have for these retailers as they're trying to kick things back into gear again?
Marguerite:
Well, I would say, going back to what I was talking about a little earlier, is they need to activate their retail reset strategy. So, they need to plan, prioritize, and prepare, and act, and I see that under those pillars. Most importantly, they need to be taking actions every day to work on their business, and I think it's taking an action for not only now, but also for the future.
As they're planning, and perhaps as our listeners are listening to us, in the future, we'll find that the stores have already reopened, that we're not quite sure of yet. But, they need to make sure that they're ready to trade. And by re-looking at their target market and at their competitor and at their point of difference, and they can start to determine what they need to do for the future of their retail store.
I think it's really important that they're using the time now to be able to make solid decisions for their business. Some, of course, will have to change, and will be constantly changing. But, it's a great opportunity, particularly when perhaps they haven't had strong marketing focus, or perhaps there's some systems or processes in place that need updating. So, I think that that's a really great time.
We also, I do believe, have to think about what our customer connections are going to look like. Retailers need to ensure that they're building loyalty, and communicating with those customers moving forward, and giving them reasons to come into their bricks and mortar store because, as everyone, as we are now in isolation, we can't wait to get back into the real world, to be able to shop and touch and feel, because that's what an in-store experience is like.
So, I think it's thinking cleverly, and being able to act, and to increase and enhance that customer experience, both online, but certainly in the bricks and mortar capacity.
Sonya:
Yeah. I love what you're saying there around customer loyalty. You'd probably be able to rattle off the stat far better than I can, but I remember reading a study, I think it was done by Qantus or one of the airlines, around how much it actually costs to get a new customer versus a customer to return. So in terms of getting, or building, that customer loyalty, that's not just something that we need to talk about now for COVID-19. It's an ongoing thing that businesses really need to be addressing. Have you seen any businesses that are doing some really great marketing to build that customer loyalty? Does anything come to mind?
Marguerite:
Do you know there's one that jumps to mind, that perhaps you know, might think a little bit left of center. But, I like to use the example of Miss Naked Cakes in Albury, Wodonga, and how they've been really making great headway with connecting with their customers, being open, being able to pivot and to navigate. So, you're thinking about [inaudible 00:17:35] bring upon new stockers, looking at how they're doing online orders, and click and collect, and really making it really exciting, that you actually can't wait to go and eat their cakes, and wait until you can go and collect, perhaps, your order.
I think that they've been great at keeping connection, and certainly, if I think about it from a consumer's view, you want to be staying loyal to that brand. And I also like to extend out that customer loyalty, and just bring the topic of team loyalty as well. And we know that we've had lots of losses of rolls, and we have, not only the job seeker, but the job keeper opportunities moving forward.
But, I think it's particularly important for retailers to also plan how they're going to look at the safety, health, and well-being ongoing of their team members. And as we want to connect and interact with customers, store owners are definitely needing to be thinking about how they're going to engage their team members, and really to boost their morale, not only in the short-term, but in the long-term as well.
Sonya:
Absolutely. Because if you've got happy employees, then they're going to keep your customers happy as well. So-
Marguerite:
Definitely.
Sonya:
Advertising to each other. Something I love to ask all of our guests on the show is, who do you follow, what are you reading? Are you listening to any podcasts, thought leaders in this space? Who are you sort of consuming content from at the moment?
Marguerite:
I think, at the moment, we're all trying to understand what the future looks like, even more so than what we've always been wanting to do. But, it's also staying up to date with facts and trends. So I suppose for me, it's a lot around smart company, inside retailer strains, inside small business. So, really quite business and retail focused. I'm always seeking out the NAB statistics, and all that information.
I think from more a little bit far-reaching and interesting would be Business Chicks. Always love to know what's going on. They're doing some great webinars and podcasts at the moment, which is super. I also had the opportunity to meet with Oliver Banks when I was in London last year. He has a podcast called Retail Transformation Show.
So if you haven't, I'd check that out. I would definitely suggest to follow that one. That's really interesting. And perhaps if you want to go back, you can listen to the episode I recorded with him late last year. But, he definitely has some international influence over there. Then of course, there's things such as Women in Retail talks, and maybe on the line of similar things, Chat 10 Looks 3 with Leigh Sales and Annabel Crabb. So, they're probably some of my go-tos.
Sonya:
Yeah. Fantastic. Some great recommendations there. A big fan of Leigh Sales's podcast, also Business Chicks, and also Miss Naked Cakes. Interesting you brought them up as an example before because, when I was in isolation, a friend of mine sent me some cupcakes from them as a little, "Oh, I'm so sorry you're isolated," gift, which was nice. And then when I got out of isolation, they had actually just been stuck to our local IDA down the road, and I was so excited.
So, that's definitely helped build brand loyalty because I'm seeing them in so many more locations now, and I had such a positive experience. So yeah. Great example there. All right. Thank you so much for coming on the show today, Marguerite. Where can people reach out to you? Where's the best place, if they want to maybe engage your services, or know more about what you do? Is it just your website? Can you tell us what that is?
Marguerite:
Yeah. Head over to our website retaillife.com.au. You can also follow us on Instagram @livebreatheretail, or perhaps even just connect with me on LinkedIn, is always another great place to connect with me.
Sonya:
Fantastic. Thanks again, Marguerite.
Marguerite:
Pleasure, Sonya. Great to speak with you today.