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4 Ways Small Retailers Can Compete Online With The Big Boys

4 Ways Small Retailers Can Compete Online With The Big Boys

Small and medium stores have been struggling to catch up with the changes in retail. The spread of the big-box chains and the chipping away of market share by online retailers have changed the retail landscape. In recent years, the technology changes have been working against the smaller stores. Big-box retailers were able to develop technology and infrastructure with dedicated teams.

Employing an army of engineers and data scientists is beyond the reach of most retailers except for a few big ones. But the ongoing changes and the emergence of many new companies in the area make connected commerce and omnichannel retail withing the reach for every retail store. Taking advantage of these new technologies will be critical to the success of every store. The good news is that everyone is in the game now, not just the big boys.

Let us check a few ways you can harness the power of omnichannel and connected commerce to insure the success of your store.

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1. Get your inventory online

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    A major factor working against smaller stores is consumers being concerned about inventory availability. Whilst consumers know that the item they are looking for is possibly available in a nearby store, they may avoid taking chances and drive further to a bigger store where they are sure that the item will be there. This uncertainty factor offsets the proximity advantage stores have over the customers in the neighborhood.

    Having the inventory online and searchable via mobile and desktop removes this uncertainty. An informed customer will be willing to drive to the smaller store nearby rather than to the supermarket many miles away. Now the store may get online visibility through paid results in Google shopping or by subscribing to Mantele. Making your inventory visible might be the best marketing step for your store.

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    2. Focus on Online visibility than on physical location

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      Traditionally, it is important to have a physical store which attracts eye-balls. Recently, the importance of the store’s physical location has been replaced by its online presence. Even if you are in a location without a lot of foot traffic, customers will find you online.

      Search engine ranking and social media presence will be way cheaper than leasing prime space for your store. You may be able to reduce rental costs significantly and get more consumers by diverting a fraction of your rent to online marketing.

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      3. Provide a seamless shopping experience

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        Selling online remains hard and time-consuming for smaller stores. Consumers who buy online mostly will stick to larger retailers like Amazon due to habits and trust. Attracting local consumers online and providing them a seamless experience for buying in-store is the key to leveraging your physical proximity. Not only should the customers be able to find your items online, they should also be able to locate the item in your store, and buy it in an effortless manner.

        Home Depot and Target showing in-store maps to the item are good examples of such experiences. Increasingly, these technologies are available to smaller stores. Many start-ups like Curbside, Mantele and Google shopping avail the same technology to smaller stores which is only available for big-box retailers now.

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        4. Use discounts judiciously

        A marketing channel for easy local visibility for stores now are daily deal sites like Groupon and Living Social. Retailers can reach out to local customers through these daily deal sites with no marketing effort.

        But these coupons are often expensive to business, with stores losing a major part of their revenue. With the advent of local search, customer visibility can be achieved by being present in inventory searches described above. More importantly, these marketing channels are more persistent unlike the short term discounted promotions.

        The advent of retail technology has provided options for local stores to succeed more than any other time in the recent past. If you are ready to adapt and embrace this change you will see increasing customer numbers and revenues.

        Featured photo credit: www.horizon-retailers.com via horizon-retailers.com

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        Last Updated on May 22, 2019

        50 Great People To Follow On LinkedIn, No Matter Your Industry

        50 Great People To Follow On LinkedIn, No Matter Your Industry

        LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

        Job Search Experts

        You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

        1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

        2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

        3. Dr. Marla Gottschalk will help you make an impact in a new job.

        4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

        5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

        Management Experts

        They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

        6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

        7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

        8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

        9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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        Productivity Experts

        By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

        10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

        11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

        12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

        13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

        Marketing Experts

        14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

        15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

        16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

        17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

        18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

        19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

        20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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        21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

        22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

        23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

        24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

        25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

        26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

        Personal Branding Experts

        Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

        Here are some personal branding experts from LinkedIn to improve your own brand.

        27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

        28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

        Other Notable Experts to Follow

        29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

        30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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        31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

        32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

        33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

        34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

        35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

        36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

        37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

        38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

        39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

        40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

        41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

        42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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        43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

        44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

        45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

        46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

        47. Rita J. King connects science, technology and business.

        48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

        49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

        50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

        These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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        Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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