Extracts from Tim Radley’s 5-star book…
‘Meaning in the Retail Madness’
How to become an Essential Retailer.
‘Deeper relationships are essential for retailers to be able to develop and diversify their assortments and services. New and attractive propositions are essential for a deeper relationship.’
The virtuous cycle between retail proposition evolution and relationship building is a series of cyclical steps from basic, advanced, to ultimate customer connections.
Central to the benefits for retailers is the progressive building of trust and intimacy with the customer.
The relationship should build from ‘loyalty to the retailer’ to ‘reliance on the retailer.’
This is a significant series of steps that transform a relationship from where the retailer pays the customer with price promotions in a basic relationship , through a financially neutral advanced relationship, to the ultimate retailer connection where the customer pays the retailer via a subscription model, to be part of, and receive, the retailer’s loyalty benefits.
It is the proposition and relationship combination that allows a retailer to transcend a traditional transactional model to a service benefit model.
The relationship between the limits of the proposition and the boundaries of the relationship is tangible. The economic relationship is transformed. It is turned on its head.
Commercial symbiosis between customer and retailer is achieved. Communication is transformed to intimacy.
Evolving commercial symbiosis
A proposition of core product and services can only justify the blanket messaging of price and promotional messages.
A cyclical process can slowly introduce both assortment and service developments, running hand in hand. In turn the closer relationship allows for more segmentation and customization of communications. Customers who feel better about their retailer are more open to email and other CRM initiatives, which in turn facilitates the accuracy and depth of conversation.
As assortments and services diversify on the back of loyalty subscription services customer connections can gain even more traction. This personalization can lead to individual communication and retailer proactivity.
Personalisation – the customer relationship roadmap.
Once upon a time, retailers communicated their brand position, values and philosophy to the world, and the people of the world decided whether it was for them or not.
Retail intelligence then enabled businesses to analyse their customers with tools such as market research and focus groups. It meant that retailers could segment their customers into like-minded groups and then customise communications by group.
Personalisation technologies gave retailers the ability to analyse individual customer’s buying patterns, browsing histories, product attribute responses and associated shopping behaviour data to communicate pro-actively and respond to shopping journeys based on historical preferences.
Advanced personalisation technologies can now amalgamate data from customer’s social media platforms, their activities, responses, opinions, relationships, to formulate detailed profiles, and to anticipate future buying missions, and calculate probable favourable product selections.
The evolution of personalisation is the history, past, present, and future of customer connections and relationships.
Just as further technological and analytical advancements are simply a matter of time, then so is the adoption of personalisation by conceivably, every single retailer. The potential opportunities and benefits to develop deep relationships are so great that businesses are already finding themselves on the same irresistible journey.
However, it must be emphasized that whilst the ‘ultimate’ ambition for engagement may well be in the strategic ‘minds’ of retailer brands, the ‘ultimate’ level of engagement and the degree of personalisation will actually be in the ‘hands’ of the customer, or even the regulator in the role of protector.
The retailer is the customer’s supplier of goods, not their lifelong school friend. Many people still make that distinction.
Extract taken from Chapter 1:
How to flourish in the ‘Life & times of the Essential Retailer.’
I have written this book for anyone who wants to consider the alternatives to the familiar,
misguided and destructive retail strategies that many retailers still persevere with.
Retail leaders & professionals, commercial entrepreneurs & accidental retailers, consumer brands, shop owners, managers & colleagues,
product suppliers, growers, manufacturers & craftspeople, landlords, designers, social marketers and informed customers.
It’s not all about plaudits, but it is nice when people leave kind reviews.
“Insightful read – highly recommend. Detailed read with lots of helpful illustrations, practical advice and case studies that bring the key learnings to life without being too theoretical or heavy.
Tim clearly has bags of experience in retail to share with the reader, I’ve learnt a lot about disrupting the business and being an essential retailer!.”
Sarah G.
Amazon.fr
“5.0 out of 5 stars This book is more relevant now than ever. As the title alludes to, even with 25 years of retail design experience, this book is an essential must have. A life time of experience packaged in a clear, simple and methodical way.
Many publications about this subject tend to be whimsical speculation, but founded on front-line experience this book collates relevant/current case studies and pairs them with simple action plans and guidelines.”
Jolyon N.
Amazon.com
“Expert but accessible, a book for everyone. I’d recommend everyone from buyers to shop assistants to read this book. I really liked its structure, which starts by looking at the retail environment today, then at the organisations themselves and then the strategies they undertake. It’s completely logical. There is a good depth of knowledge, but it is explained clearly and very visually so it’s interesting at any level. The illustrations and diagrams are also amazing! I now feel more informed as a shopper – thank you so much.”
Alice R.
Amazon.com
“Invaluable read and resource! This book is not just for reading though!
This is a great resource book, full of considered industry insights, and is really useful for enhancing staff training and engagement: currently doing the rounds with my colleagues at the ‘shop face’! … thoroughly recommended”
Celia L.
Amazon.com
‘Meaning in the Retail Madness’
“Wonderful Read !!” – Sarah R.
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