How to not be the next Sears

It’s easy to blame the bankruptcy of Sears on Amazon, but are you going to accept that excuse when a new competitor comes out of left field in your market? Many retailers are actually expanding in the age of Amazon, both in e-commerce offerings and more stores. Companies like Walmart and Target come to mind with their new approach to shopping for items online and picking up at the store or even opting for home delivery. 

Sears’ problem wasn’t what they were selling: Craftsman tools and Kenmore appliances are great products with a solid value proposition. The problem is in how they sell, particularly in the last 10 years. That’s about how long it’s been since I’ve been in a Sears, and even at the start of the great decline it was a depressing experience. Crowded shelves, dirty aisles, and bored salespeople – the definition of mediocrity and a horrible sales experience.

I’d rather go to Costco, Target and H-E-B. They know who they are, and provide a great sales experience to their target audience:

• I feel like a savvy shopper getting a good deal with my paid membership at Costco. I’m going to get paper towels in large enough bulk that it’s a good idea to bring my truck, but I’m just as likely to pick up a new compact DSLR for $500 – Costco is great at relieving their members of disposable income.
• If I need a small home appliance, I’m going to Target. Clean, spacious, good products, reasonable price.
• H-E-B, the giant Texas grocer, sells the same things as every supermarket, but the sheer volume of samples, demonstration kitchens and spice-blending stations gives me a foodie experience that I wish would come to my hometown Albuquerque.

It’s not what you sell, it’s how you sell it

In Gartner’s research, 53% of client loyalty is driven by the experience a client has during the sales process. Brand, price, level of service are just table stakes to get in the game. Clients can have their pick of brands they trust and products that work – there really isn’t a lot of differentiation in the market when it comes down to the brass tacks of it. Instead, clients who worked with suppliers who brought key insights, memorable experiences, and innovative ways to showcase products were the ones that were likely to retain client loyalty and continued purchasing.

By simply changing the way you sell and enhancing the purchasing experience your clients have when they interact with you, your business can see a dramatic impact on both sales and client loyalty. The experience a client has during the sales process is key to both their satisfaction and loyalty over the long term.

At boomtime, we bring key insights when interacting with our clients by:

	Offering unique, valuable perspectives on the market
	Help navigate alternatives
	Provide ongoing advice or consultation
	Help avoid potential land mines
	Educate on new issues and outcomes

Want to learn how to grow your business by focusing on how you sell? I’m happy to share our experience, reach out to me at ceo@boomtime.com.

All the best,

Bill Bice
CEO