Tag: business strategy

As major retailers like Sears fall like very large dominos, you’d be forgiven for thinking the death knells have sounded for brick and mortar retail.

Closer to home, Myer is grappling with its own downward trend, with the retailer last month posting a $486 million annual loss.

So how are things going wrong for such significant retail players? And how can brick and mortar retailers’ future-proof their market share?

While there’s no overnight solution, there are reasons that some brands are able to buck even the toughest of economic conditions.

Take these five tips into account and you’ll be on your way to ensuring you have a thriving brick and mortar retail space both now and into the future.

  1. Be customer-centric

Brands can sometimes go wrong by trying to be everything to everyone. Knowing your customer and talking specifically to them, rather than utilising generic messaging, is key. This relates to your physical retail space and fit-out, as well as your other engagement touchpoints, such as a user-friendly website and your social media presence. M.J. Bale founder Matt Jensen is quoted saying that customer service is what sets his high-performing brand apart. Australian Retailers Association executive director Russell Zimmerman agrees, saying that creating a seamless customer experience includes an easy returns process, and good product pick-up and delivery options.

  1. Change it up

Product also must remain fresh and contemporary. Limited edition products and designer capsule collections, like those employed by high street brands Uniqlo and H&M in partnership with the likes of J.W. Anderson and Erdem, create a fear of missing out – and the market responds accordingly.

  1. Show, don’t just sell

In 2018, a brick and mortar retail space must be more than just a place that sells product. Retailers need to be much more interactive, and really showcase their products. In my recent blog postabout my time working at The Body Shop under the leadership of Dame Anita Roddick, I touched on how the company was ahead of its time by encouraging people to not only see but also touch and smell their products. Successful retailers will take up the opportunity to act as showrooms where customers can interact with products in beautiful surroundings. Liberty London, is one example of a destination department store that lovingly curates its products, showcasing artists from around the world, and acting as a launching pad for emerging and undiscovered artists. No wonder the brand has enjoyed success since it opened its doors in 1875.

  1. Encourage interaction

Encouraging interaction and discovery for guests must go further still. Brick and mortar retailers have the opportunity to educate consumers, and provide face-to-face opportunities for interactions with not only products, but also their designers and makers. Retailers must get savvier about how best to do this, and build a real community of supporters. Examples include internal pop up stores within a larger department store, a calendar of travelling artists and producers, and regional roadshows. The key is a space that is always changing and evolving. Matt Jensen of M.J. Balerefers to the “theatre of shopping”, saying, “You’ve got to entertain people as they part with their money.”

  1. Quality is key

Still, repeat sales increasingly come down to quality. Trends suggest consumers are growing increasingly discerning, and are turning away from products that are lacking in quality and ethics. This is undoubtedly one of the reasons why trusted brands such as Swarovski and Tiffany & Co. are continuing to open new brick and mortar storesin a volatile economic climate. Thankfully the trend is not only prompting many retailers to clean up their supply chains, but also to ensure they’re providing real value to customers.

 So whether you’re selling food, homewares, fashion, or something entirely different, remember that outstanding customer service, fresh, quality product, customer engagement, and an interactive retail environment will all help to future-proof your brick and mortar retail space.

 To find out more about Kiikstart’s business planning and coaching offerings for clients in the retail sector, get in touch at enquiries@kiikstart.com.

Words are powerful.

Just ask any leader or media personality who has stumbled over their words, or used the wrong word in a situation. (Who could forget Tony Abbott’s ‘suppository of all wisdom’ gaffe!).

When it comes to brands, telling a compelling story is critical.

But while it may be easy to sell yourself through words (you can always rely on the services of expert marketers for that!)  it can be harder to walk that talk.

Here are five non-verbal ways to tell your brand’s story.

Captivating Visuals
Getting your visual branding and assets right can have a major impact on your brand. It’s why 91% of consumers prefer visual content to text – and why so many brands embark on major rebrands. Your visual content extends to your social media, where some brands triumph. Whole Foods, for example, reflects its brand values through eye-catching imagery on Instagram that reflect the brand’s wholesome food offering.

Design & Layout
Whether it’s a retail or office environment, the design and layout of your brand’s physical space is a fantastic visual portrayal of your values. Silicon Valley brands like Google and Facebook showcase their innovation and commitment to staff satisfaction through their thoughtful office environments, while Etsy’s quirky Brooklyn headquarters reflect the brand’s focus on high-quality crafting.

Evoke the Senses
When designing your brand’s space, consider how stimulating the senses can add to the mood or story of your brand. I recently wrote about how The Body Shop created an innovative retail space, which fed into the company’s broader story. Likewise, Abercrombie & Fitch plays on the senses to attract their target market, spraying fragrance and playing loud music to draw in their target clientele.

Poignant Packaging
A brand’s packaging is an important extension of their visual identity. Tiffany & Co. is one of the best examples of this. Those teal bags and boxes and white ribbon have long been synonymous with the brand, and speak to their values of timeless beauty and luxury. Brands can also reflect other values, such as their commitment to the environment, through their packaging. Organic haircare brand Kevin Murphy, for example, recently made a commitment to move to bottles made from 100 per cent recycled ocean plastics, which speaks to the brand’s commitment to the environment.

Customer Service
Finally, customer service is a clear representation of your brand’s values. As Alexandra Sheehan writes for Shopify, “Sales associates on the floor are the personification of your brand… It’s imperative that they’re considered an essential component of the brand identity.” Costco is one brand that reflects its values through their customer service. The retailer is known for being particularly accommodating when it comes to returns. The company has successfully created an affordable shopping experience without compromising on customer experience.

So there you have it! From your packaging, to visual and sensory experiences, there’s much more to your brand story than words.

Time to walk the talk? At Kiikstart we’re specialists when it comes to business strategy and idea execution. Get in touch today for support with any aspects of your company’s planning or storytelling. Email enquiries@kiikstart.com.

How often does your organisation refer to its strategic plan? Is the document front and centre? Or is it sitting in a filing cabinet gathering dust?

If yours falls into the latter category, it’s time to take your strategic plan and bin it!

Writing strategic plans is like a disease of modern management. But while the art of writing a plan might make us feel better, we need to question its purpose.

Binning your plan may sound extreme, but time and again organisations invest in expensive consultants to complete this work, only to find that the execution phase (points 4-7 below) has been overlooked.

How do I know this? Because I’ve witnessed it firsthand across numerous organisations we’ve worked with, and through interactions with the 1700 people Kiikstart has mentored to successfully change and execute ideas.

Every organisation needs a compelling and actionable strategic plan that can be relied upon day-to-day. A good strategic plan should anchor your organisation and not only support your objectives, but lay out the path, actions and timeframes to achieve it.

Below, I’ve covered the seven must-include elements for your strategic plan.

  1. Clearly defined (and prioritised!) objectives

Be as specific as you can regarding your organisation’s objective/s. Consider the end game for your business if they execute on these. Then prioritise your agreed objectives in the best order to achieve this result. Question throughout the process what matters to your stakeholders – both internal and external – and why. 

  1. A Set Strategy

Your strategy, or strategies, covers the ‘what’. From past experience, many strategic plans stop with only a list of what needs to be done, but without laying out the further steps. Read on!

  1. Supporting tactics

Your supporting tactics cover the ‘how’. As Nell Edgington from Social Velocity asserts, “A good strategic plan includes a tactical plan so that the broad goals are broken down into individual steps to get there.” Ensure you’re really clear about the specific actions you must undertake to achieve your end objective.

  1. Task assignment

Ensure that you assign the right people to each tactic. Consider your team’s skills, experience and expertise to find the person who will add the most value when executing that part of the project. Also ensure you involve your key players in this process. Writing for Forbes, Aileron says one of the most common strategic planning mistakes is not involving “those charged with executing the plan” from the start.

  1. Identify supporters

Be sure to also identify your broader network of supporters. Look beyond your organisation and consider your broader networks, and prospective partner opportunities. A well-conceived strategic plan can be a compelling resource for prospective funders.

  1. Set timeframes

Strategic plans have a limited shelf life, so ensure you set achievable timeframes for each strategy and tactic. You should allow enough time to keep your team focused and on their toes, but not so little time that the quality of your work is compromised.

  1. Track your progress

As part of your plan, be sure to also identify how you’ll assess and track your success against each objective. Consider accountability mechanisms and the programs and people who will do this work and keep your team on track.

My final piece of advice is to avoid overcomplicating your plan. This is your roadmap for success, but it doesn’t need to be a particularly lengthy document.

Keep it concise and stick to these tips, and you’ll be well on your way to strategic supremacy. Happy planning!

Finding a professional development coach that’s the right fit can be a challenge. But a chance meeting with Kiikstart Founder Ali Uren at a function in Adelaide proved fruitful for Christian Van Niekerk.

The financial services professional had recently been promoted from Senior Manager to Director, and wanted tactical support in his new role.

The Grant Thornton Director describes how working with Kiikstart led to professional and personal growth – and a fantastic ongoing relationship with his coach.

When did you start working with Ali?
I met Ali at a Brand SA function and I was talking to her about my career. I’d been recently promoted from Senior Manager to Director, and I was moving into a more client-facing role with a focus on business development. We started working together mid-last year.

Why did you decide to work with Ali?
Ali has a unique approach. She was able to tailor a program that suited my needs and goals. She pushed me outside my comfort zone to explore areas that needed attention. Through our initial meeting and discussions, I felt that Ali took a genuine interest in me and my needs. Her ability to build a deep, trusting connection helped me to make the decision to work with Ali.

How long did you work together?
The program consisted of six sessions that were spread over a few months. They were one hour sessions with activities for me to complete in between. Ali was also available for ad hoc queries and discussions.

What was the focus of your work together?
Ali was able to talk to me and come up with a plan to address some of the areas I wanted to improve from a business development perspective. Part of this work was about articulating what I bring to the table. I knew it in my mind, but Ali was able to flesh that out with me.

How has working with Ali helped you?
It’s increased my confidence to go out to the market and talk about what I do. Normally I’d go out there and say that I’m an accountant, but now I frame it in more exciting terms. It’s also made me change the way I approach my work – and it’s helped to inform a new service delivery model at work. The model that I’ve built with Ali now is part of our national approach. It’s also reignited my passion for what I do. I’m excited about who I am, what I can achieve, and my approach to client services.

What sets her apart from other business coaches?
Ali provided an environment that was safe and encouraging; there was no negativity. She still calls or emails me at least once a month to touch base, so we’ve kept in touch ever since.

How would you describe Ali’s approach?
Being coached by Ali was different to other courses I’ve done in the past. This was tailored specifically to my needs, and the one-on-one delivery allowed me to be more open, which led to a highly rewarding and enjoyable experience.