Management

There's a lot to be learned from your old-school retailer. From trial and error, I've learned and hopefully taught the companies I've worked for how to build relationships with their clients. It used to be that people only bought “stuff” from retailers. I tell companies, “People don’t buy from companies, they buy from people.”

The beauty of this process is that you can change new customer assumptions, customer retention assumptions and/or spend per customer assumptions to see what impact the assumptions have on the future of your business. You can identify a path that leads you to the sales figures that management is looking for.

The InterACT! Conference, an educational forum for marketers, brand owners and service providers on cross-media direct marketing opportunities and strategies, has launched "Build-a-Buzz" Giveaway - a social networking contest for marketers (or anyone) who wants to win one of four cool prizes: an Apple iPad, HP Netbook, Amazon Kindle or American Express gift card.

A simple CSR training program can solve the lackluster attitude and increase conversion. Using this technique at one company I worked with, we increased conversion rates by as much as 20 percent. Also, by fostering an atmosphere of teamwork and healthy competition, we increased the enthusiasm and morale in its call center as well.

In a session at this month's Internet Retailer Conference & Exhibition in Chicago, Paul Holstein, vice president of CableOrganizer.com, an online retailer of cable, wiring and equipment management products, listed three ways that retailers can use feedback from their customers to better their operations.

Wal-Mart announced a program Thursday in which its workers can receive college credit from the online American Public University and receive a tuition discount from the school. The company also said it will commit $50 million over three years to help workers pay for books and tuition above the reduced tuition rate. After the reduction, tuition will cost $212.50 per undergraduate credit hour and $255 for graduate credits.

Tying the results of a marketing tactic to the actual financial performance of a company is no easy feat. You may not have ready access to business performance or transaction metrics to allow correlation. The sheer array of channels and options available to marketers, and the rise of new marketing tactics such as social media, only add to the difficulty of measuring clear results.

Much like a four-letter word, disasters happen in all forms just about anywhere, without warning, at any time. So prepare your company and yourself. Here’s a disaster-readiness checklist I suggest you look over carefully. If you think you’re on top of it, compare your list to this one to ensure you have all the bases covered.

The Direct Marketing Association (DMA) Board of Directors today announced the election of G. Steven Dapper, chairman and founder of hawkeye, as chairman of the board. Don McKenzie, CEO of Direct Group, was elected vice chairman of the board.  The terms of office commenced at DMA’s board meeting today in Washington, D.C.

This year is proving to be a year of growth for many retail businesses, and there's no reason yours can't be a part of that. Here are five straightforward but important steps that you can take to help reinvigorate your retail business’s performance and get it on track to achieve your long-term goals.