Take-Away Challenges Bring these ideas back to your business and see what results you generate! Takeaway 1: From Leslie Faltin – Instrumental.

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Presentation transcript:

Take-Away Challenges Bring these ideas back to your business and see what results you generate! Takeaway 1: From Leslie Faltin – Instrumental Music Takeaway 2: From Skip Maggiora – Skip’s Music Takeaway 3: From Paul Decker – Music Villa Takeaway 4: From Jon Haber – Alto Music Takeaway 5: From Ryan West – West Music

Declining Store Traffic One of the biggest challenges in retail is…

What is your best strategy to bring people in the door and increase your store traffic?

1.Create “Monthly Themed Sales” 2.Private Lessons, Events, Classes 3.Strong Social (local) media 4.Merchandising to create “WOW” factor 5.Outbound Sales Calls

Your Company reputation is more than ever defined by customer reviews and online comments.

What methods does your company use to… -Monitor its online reputation? -Increase the quality of the customer reviews ? Does it utilize services like…

1.Spot check your online reputation 2.Monitor Yelp, Google and Yahoo reviews 3.Do “Exceptional” things and they will talk 4.Monitor Forums 5.Use a Customer Service Survey and Review

Online and Retail Competition is greater than ever!

What is the top method you use to differentiate yourselves from your competition?

1.Exploit - Fear, Uncertainty and Doubt (FUD) 2.Skip’s Added Value Extras – “S.A.V.E.” 3.Specialize and be dedicated to online marketing 4.Combine Bricks ‘n Mortar with online 5.Personalized “Thank You” cards for orders

Hiring Staff continues to be an important part in the battle to out-service the competition and strengthen the company position.

What is your top strategy to find great employees and keep them growing?

1.Always be looking and set expectations 2.Recruit from your customer base 3.We run a lean tight team 4.Hire on personality and promote within 5.Use Referral bonus and Predictive Index (PI)

How to effectively advertise and market your company has changed dramatically in the last few years.

What has been one of your most successful strategies to market and advertise your business to increase sales?

1.Google AdWords, - “Festival of Books” 2.Skip’s Music and Sound Expo 3.Build a community of followers 4.Facebook and Google AdWords 5. is still most cost effective – keep an eye on your subject lines.

Retailers need a stronger and more coordinated relationship with suppliers to meet the expectations of the consumer regarding… -New product introductions -Creating Consumer driven events and showcases of products

What strategies have you taken to get closer with your suppliers to better serve the needs of your customers?

1.Targeted “Roadshow” events at store 2.Create a “Win Win” partnership 3.Give more support to suppliers with quality products and quality sales reps. 4.Support Suppliers who Support Us. 5.Vendor Report Cards, Share Sell Through Data, and Scheduled Rep Visits.