A recent conversation with the owner of an independent toy store reminded me of why we ask our branch managers to "act like owners" when running their businesses.
While running errands with my family, my wife asked me to visit the Treasure Chest. She told me that it was a small store that had donated items to our sons' school auction.
After a little trouble finding it, we pulled into the nondescript strip mall where it was. We walked in and found that we were the only customers in the place. But the store looked great. It was well merchandized and had dozens of nice displays.
I've lost count of how many (even empty) stores I've walked into in the past and not been acknowledged. In this case, a young man named Sy stood up from behind the counter and said, "Good afternoon! Is there anything I can help you find today?" I smiled and gave the universal, "Thanks. We're just looking."
Sy said, "Sure thing. Thanks for coming in. Let me know if I can help you find anything or answer any questions." My wife set out to shop and I to keep our kids from "remerchandising" the store. The place was small enough that Sy could see the things we looked at.
He noticed my wife comparing a few "collectible" animals. He asked if she was looking for any one in particular. She wasn't but wanted to know whether these were the popular ones she believed our niece collects. In the next few minutes, she got a great tutorial on the items, their manufacturer's history, and why they were the "in" thing.
My wife appreciated his wealth of information, and I also began chatting with Sy. I learned that he and his wife owned the store and it had been open for just under a year. I volunteered to him that we learned about his store from his donation to our school's fund-raiser and that the only reason we made the extra effort it took to find his shop was because of this gesture.
He smiled and told me, "You know, those school things really work for us. People are so appreciative, and we almost always see new shoppers when we support local schools."
Before I knew it, Sy and I were having a lively discussion about the human desire for reciprocity and the power of word-of-mouth advertising.
I could tell he really enjoyed talking about his business, and I received a very entertaining debriefing on the highly competitive environment of specialty toy stores and hobby shops. I found it really fascinating.
His take on eBay sellers was especially interesting. He explained that it was common for "eBay-ers" to walk in and want to buy his entire stock of certain items. He has learned to keep many "hot" items off of his shelves and stored out of view.
For a second, that struck me as odd. Selling out of an item is a good thing, no? But he then explained that when he lets that happen, his loyal customers are left out. The greater value to him is making as many customers happy as he can, not in selling out his stock to someone who simply uses his store as an occasional inventory supplier.
Sy relies on personal interactions with customers for his best marketing. He realizes that the most important thing for his business is to create as many friends and fans as possible. Friends and fans visit more often, give him "first crack" when shopping, and tell others about his store.
When I asked what his biggest challenges are, he said, "Hands down, it's generating awareness and store traffic. The cost of advertising is pretty impossible for us." I suggested to him that part of his dilemma was that he was hidden in plain view. From his door, he could see thousands of vehicles zipping by. But the stores within his strip mall were a blur to motorists at best.
Over the next few minutes, I was reminded of the frequent difference between talking to an owner as opposed to a manager. When sharing ideas with managers, many are primarily concerned with what they are "allowed" to do rather than whether new ideas have merit. (In managers' defense, that's often not their fault.) Owners have no such filters. When they see or hear a good idea, they practically leap at it. As we were leaving (with several purchases), Sy chuckled. "I would have never believed I'd get marketing ideas from a banker," he said. I laughed and assured him, "We're only about 90% as boring as you think we are."
Truth be told, Sy reminded me that the most powerful marketing message we'll send today is how we treat the next customer in front of us.
What will your team's message be today?
