Advice for retailers as COVID restrictions ease this Independent Retailer Month
By Simac Konkader, founder and principle coach of ActionCOACH Slough.
In the wake of the 19th July, attention now falls on local businesses as they attempt to keep the momentum going with the further easing of restrictions. That’s why this year, Independent Retailer Month is more important than ever before. The campaign aims to highlight the importance that local retailers play in the communities they serve and their contribution to the community’s overall economy. Slough’s expert business coach, Simac Konkader, wants to support local retailers with restrictions easing.
Simac wants to provide vital guidance so that retailers will feel confident as life begins to look more like it did pre-pandemic. As restrictions ease, it’s crucial that people help their community to get back up and running by buying local where they can.
“It’s been an extremely difficult time for everyone, especially those smaller businesses that depend mainly on local support,” said Simac. “After the 19th July, it’s time for them to start thinking about innovative ways to work with their customers and keep momentum going post-pandemic. Gone are the days when we open our high-street shop and simply expect people to come in, we have to work hard and cleverly at encouraging them to do so.”
Here are Simac’s top tips for local retailers to maximise their potential during this period:
- Know your numbers. Of course, it’s important to understand your profit margins for products and services, but it’s about understanding your numbers on an even deeper level. How much does it cost to gain a lead for a potential customer and how many would you normally convert into a paying one? If online has now become a key component of your business, it’s crucial to know what effect this has on your bottom line.
- Keep in regular contact with your customers. This is paramount. You should have continued to engage with your customers throughout lockdown anyway, but post-pandemic is just as important as ever. Share your news, promote any new products, share pictures of your business and interact with your customers. Your social media platforms are the easiest and most effective way of keeping the conversation going and keeping customers in the loop is crucial for retaining them or enticing them back.
- Promote ‘shop local’. You can promote the importance of shopping local and supporting the local high street. Incorporate it into your messaging, place banners in your store windows and shout about it on social media and your website. Now’s the time to create a community of abundance and there’s no better way to highlight just how important that really is. Don’t forget, by shopping local, people become part of the much-needed injection towards the local economy.
- Start a referral group. Clubbing together with other local businesses will give you a lot more clout: you can offer each other guidance and support, as well as sharing any ideas for best practice. Having the chance to interact with like-minded business owners promotes a healthy environment, which is imperative for receiving a boost of inspiration for the following months.
Simac will also be helping retailers through his new MMC10CLUB – a new programme guaranteed to make 10 business owners multi-millionaires within 10 years. Simac will be selecting 10 entrepreneurs to take part in the exciting new programmme. To apply, simply complete the initial application form on the ActionCOACH Slough website. You will receive a call within five working days to discuss your application.
“My personal guarantee is to make 10 people multi-millionaires within 10 years. You need to be a business owner who has made a solid start or already created jobs for five or more people. You will also need to be open to learning new ways of thinking and committed to doing what it takes to become an even more successful business owner and leader,” explained Simac. “I will refund any business owners double the difference between the amount they invested and how much their gross profit margins increased if the programme does not work out for them. So, either way, they will come out better for taking part.”
Determined to support local retailers, Simac offers a wide range of programmes to help business owners progress to the next level. From behavioural assessments to business plans complete with cash flows, key business drivers and metrics. As Slough’s expert business coach, Simac is passionate about supporting businesses – whatever their size – “even more so after the pandemic.”
To find out more about the MM10CLUB and to apply please visit https://slough.actioncoach.co.uk/programmes/mm10club/