Perth Retailers share their Online Lessons for Success

18 June 2013

Retail Forum

Presented by Richard Keeves

Program Director, Smarter Digital RoadMaps for Retailers Pilot Program

and Director of Smarter Web Strategies.com

Thanks to CCIWA and the many supporters and special guest helpers during the program.

Website: Digital RoadMaps.org

• Funded by the WA State Government’s WA Business Online initiative

• Partnership between Chamber of Commerce & Industry of WA & Smarter Web Strategies.com

Background to the Pilot Program

• Survey of Retailers

• Coaching Program

• Webinars

• Developing Resources

• Database of Service Providers

• Website for the Resources

• LinkedIn Group

Background to the Pilot Program

Coaching Program • Three ½ Day Workshops with Guest presenters

• Group Breakfasts (monthly)

• Individual Coaching sessions

• Website Reviews

• Individual Support & Guidance

• Guidance and joining in discussions with existing & new digital Service Providers

• Introductions to new Service Providers

• Planning & preparing Digital RoadMaps

• Troubleshooting & Mentoring

Webinars 1. Introduction to Digital RoadMaps (Presented by Richard Keeves)

2. What makes you Unique? (Presented by Richard Keeves)

3. Building Trust (Presented by Richard Keeves)

4. Defining and Finding Your Ideal Customers (Presented by Richard Keeves)

5. Strategies for Growth (Presented by Richard Keeves)

6. New Trends in Retailing (Presented by Piers from Vivid)

7. Everything you know about Brand is Wrong! (Presented by Michel Hogan)

8. Stop Delighting Your Customers (Presented by Michel Hogan)

9. Google Places & Google Business Photos (Presented by Marianne Annereau)

10. Smarter SEO & SEM (Presented by Andy Dalton)

11. Conversion Rate Optimization (presented by Mark Garner)

12. Improving Website Checkout Processes & Reducing Shopping Cart Abandonment (Christian Holst and Jamie Appleseed, Baymard Institute, Copenhagen)

13. Taking Payments Online (Presented by Richard Keeves)

14. Getting Smarter with CRM (Presented by Nick Bennett)

15. Getting Smarter with SMS (Presented by Paul Mulvenna)

Resources

• Planning the Digital RoadMap • Assessing Your Business • Growth Strategies • Smarter SEO & SEM • Planning Your Website • Using Social Media • Conversion Rate Optimization • Online Payment Processing • Selecting Shopping Carts • Defining Ideal Customers • Brand Building • Behavioural Targeting and Re-Marketing • Learning how to use Google Analytics

Provided to Coaching group members, in Webinars, and/or on the program website

The LinkedIn Group

So, what’s a Digital RoadMap?

#1 #4

#3 #2

1. Purpose

2. Greatness

3. Uniqueness

4. Ideal Customers

5. Benefits

6. Essentials

The Business… and its

We start by defining

e.g. Becoming The Chosen One

With Smarter Strategies for the Digital World

And we focus on Strategies that make sense

Why, What, How…

• Set Goals, Objectives and initial Action Plans. • Usually combination of Small Tweaks today AND Bigger Changes moving forward

Today 3 Years’ Time 12 Months THEN Chunk down, Plan next 4 Quarters.

We do Possibility Thinking for the Future, choose the priority areas to focus on and prepare the initial Digital RoadMap

Implement, Monitor & Improve

Update Quarterly & roll forward.

And a bit about Technology

My “Choosing Technology” Mantra

– Increased Flexibility

– Reduced Risks

– Better Options for the Future

The world is

ON SALE

Sad Retailers Happy Customers

What do customers really want?

When do customers want to shop?

ANY TIME

24.7.365

ANY HOW

ANY PLACE

ANY WHERE

How do customers want to shop?

Some Observations about the Pilot Program…

1. It’s time. “Prepare for the Digital Journey or prepare to retire.”

2. Most retailers work ‘in’, not ‘on’. There is lots to learn, lots to do and so little time.

3. All plans change, BUT having a plan is better than not having a plan.

1. Every business is Unique. Most don’t know it.

2. Everything is about the Customer. Always.

3. All customers are NOT the same.

4. To make improvements, changes do not have to be BIG. Most businesses can make SMALL tweaks and get better results.

5. Customers don’t like Pain. Identify & remove Points of Pain. Make life more convenient for customers and reduce friction points.

Price is important.

So are

Value,

Trust,

Service,

Availability and

Convenience

• Most retailers have been ‘ripped off’ in the past by web dev firms. • Many retailers probably did not know what they were buying.

Who was responsible?

More Observations

Web Development Companies

• do not understand retail.

• are limited to their own areas of technological expertise.

• don't always admit their limitations.

• often over-state their expertise.

• may be biased or worse. Wrong or even Deceptive.

• are not well-liked or well-trusted by retailers.

• don't really like being judged by the results the retailer may or may not achieve.

• just create the website. The retailer needs to manage it.

Most web firms

= V i t a l for retailers selling online

= V i t a l 1. Getting Found Easily with SEO

2. Cost-Effective Accountable Advertising with Google AdWords

3. Understanding Website Activity with Google Analytics

4. Building Trust with Google Places, Business Photos & Reviews

5. Enticing Qualified Visitors with SERP Text and Rich Snippets

6. Running a good website using Google Webmaster Tools

7. Understanding Usability with Google In-Page Analytics

Mobile Business is booming

• Massive Threats

• Massive Opportunities

• Misunderstood

• Under-used

Conversion Rate Optimization

Small Tweaks can mean Big Results

• Increasing Conversion Rates from say 2% to 3% of website visitors can give you a 50% increase in sales.

• Increasing from 2% to 4% DOUBLES YOUR SALES.

STOP LEAKS

Let’s hear from some of the Retailers in the Coaching Program…

RETAILERS SHARE THE LESSONS…

• This segment of the Forum was recorded on video.

• Check back at www.DigitalRoadMaps.org to access this info.

The next slides were not shown during the presentation due to time constraints – as we had valuable and lively discussion in the Retail Forum.

(This slide was added after the presentation.)

Some Other Lessons & Comments from Coaching Program members

1. What benefits have you got from being part of the coaching program?

2. What problems or issues has the program caused or raised for you?

3. What issues do you see for retailers in the digital world?

4. What else would you want to add?

Benefits “The main benefit to me so far is getting like minded people together and sharing ideas.”

“Discovering how different retailers are tackling the online retail space.”

“Access to a great knowledge pool.”

“Has bought a lot of clarity to our forward planning through use of Goals & Key Actions over 3 Years. At same time brought the “language” of Digital into every day understanding. Eg Tech Talk that is used “against” retailers now has an understanding making it less of a concern when dealing with suppliers to the E-Industry.”

“The introduction of the Review of our Web Site document – as well as that of our competitors - has produced a genuine roadmap for improvement. This is now used with our Web Site supplier team as a target and KPI, reviewed regularly. The Target is to lift the score and then to measure outcomes from the web site.”

Benefits “Access to tools and resources to optimise and progress our Digital Roadmap.”

“Unbiased, trustworthy and independent counsel to aid in the navigation and connection with applicable service provider partners.”

“Thought provocation leading to actionable outcomes.”

“The program has focused us on where our business is heading and given us some good guidelines to follow. The program has also made us question our business and really look in-depth at what we do.”

Problems “The bottomless pit in investing online and the fact the technology is being superseded so quickly. How can a retailer who is experiencing diminishing margins justify investing into unproven technology.” “The challenge on keeping focused on your core business whilst experimenting in the retail space.” “Too much content too quickly – not enough time or assistance to work through it all – has become overwhelming.” “Caused nil problems. Identified where the gaps are in our E-Business activity and presence.” “Challenged my time management skills. Information overload – still have significant amount of content from the program to review.” “It has raised LOTS of question. Seemly more questions than answers so it’s frustrating. ( not a really bad thing)”

Issues for retailers in the digital world

“Finding the balance between economies of scale, physical shops, and online presence. Too labour intensive will cause problems.” “Finding a cost effective system to conduct business on. Control vs cost.” “If they don't understand this stuff they aren't going to have a business.” “Being left behind. This program has genuinely helped the uneducated (or more dangerously those with a little knowledge) gain solid knowledge about what the Web is, what it can do and how to go about developing a genuine E Strategy.” “Challenge of optimising spend to achieve Return on Investment. Enacting change in the Organisational Structure to realign internal resources to service the Digital Savvy consumer.” “How can small business compete with the large on-line retailers, who have the funding and staff to keep abreast of the latest Web idea, Digital innovations etc. “

Other comments…

“I guess the biggest benefit of a genuine E-Coach is having someone who is not constantly trying to add to cost rather being there to guide the business toward maximising presence and benefits from the Web Site.”

“What you can understand, you can control. The barrier therefore is knowledge. But I know I can’t become a master of all, so I need to employ this knowledge.

“The trick is to employ a group of trusted and cost effective people to minimise the risk, and not burn too much cash before profits are generated.”

“Maybe you need to go backwards to go forward. In our case destock and experiment. Adapt the current retail model into a leaner outfit and change employees’ and customers’ mindsets. Then re-emerge as a stronger player in the new retail world.”

“If you get online right, it is low capital high rewards. If you don’t, welcome to the graveyard. The catch is your investment has little residual value if it fails to succeed. That’s the stumbling block with retailers, so your payback period has to be very quick.”

“This program has taught us a lot of new stuff... And shown us we have a lot to learn. It is quite overwhelming, but it is new and exciting this digital world. This course is helping us understand how to approach the digital retail market and expand our business.”

Other comments

“Big will not always be best.”

“The rules haven’t been written.”

“As discussed in some of our sessions the simple fact of “if I get a website I will be alright” is not true. That is only the beginning, then the site must be maintained and kept up to date.

“Then the related issues of SEO etc must be addressed, then “Real World” issues i.e. having the correct products, transport issues, payment and returns etc.”

Other comments

Thanks to CCIWA & the many supporters and special guest helpers during the program.

Richard@smarterwebstrategies.com

Phone: + 61 413 755 468 (Mobile)

+ 61 8 9467 1884 (Office)

Twitter: @RichardKeeves

What’s next?

Hopefully, more smart use of Digital RoadMaps.

Let’s stay in touch. www.DigitalRoadMaps.org