Latest / The SmallBizChat with Melinda Emerson / Insight, Influencers & Industry Trends in Retail with Romina Brown

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Insight, Influencers & Industry Trends in Retail with Romina Brown · The SmallBizChat with Melinda Emerson

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  3, 10, 1, 0, ignition, liftoff, Ending small business failure.
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  Welcome to the Small Biz Chat podcast with a number 1 small business expert Melinda Emerson.
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  Bolinda's goal is to end small business failure, and she'll give you the information
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  you need to succeed and live the life you've dream of.
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  Now here's the small biz lady herself.
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  Melinda Everson.
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  Hi, everybody.
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  Welcome back to small biz Chad.
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  I'm Melinda Emerson, the small biz lady.
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  America's never one small business expert, and I'm so excited to have you here for 10 years.
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  We have been helping you grow your business because our mission is to end small business
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  failure.
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  This show would not be possible.
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  We're not for our generous sponsor mixmax.
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  your availability right in the email, and you can check when people open up your stuff.
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  So it is a great tool.
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  Check it out.
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  Go to mixmax.com and see what they're talking about.
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  Alright.
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  Now now my guess for tonight, is an amazing marketing expert.
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  Her name is Romina Brown.
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  She is out of Chicago.
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  Her company's strategic solutions international.
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  Is an amazing company that focuses on helping brands grow their sales within a retail
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  environment.
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  She specifically works great with beauty brands, and I am so excited to have her here
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  tonight just to talk about all of the things going on in retail.
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  Retail is a while, while lesser now.
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  So we wanna talk to Romita.
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  Welcome to Small Beach chat live.
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  Thank you.
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  Thanks for having me, Melinda.
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  Happy to be for 10th anniversary.
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  Thank you.
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  Thank you.
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  So now tell me, what are some of the major challenges facing retail?
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  Well, as you can imagine, just in your daily life, the consumer landscape has completely
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  shifted.
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  Our retail options have grown so widely.
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  I mean, you've you've seen the emergence of Instacart and home grocery delivery.
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  You've seen more Aldi types of grocery stores now available in in in more vicinity and closer
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  related for consumers as it relates to convenient and being able to get more for less.
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  And so retailers now having to reimagine their shopper, return on investment, how to improve
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  their shopper experiences so that they can continue to drive loyalty and traffic into
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  those retail stores.
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  And and then also people, as you know, are buying more online as well.
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  Yeah.
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  Because there there's a dirty word I was about to say.
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  Amazon.
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  Right?
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  I would I would buy everything.
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  I I tell you, I'm a person that hates the shop.
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  So if I if I could really I mean, I have some specialty stores online that I shop at, but but
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  Amazon is my go to.
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  It it it just really, really is.
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  So And I think you're not alone.
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  And, you know, they they are now Whole Foods as well.
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  So they are not only in the packaging delivery.
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  That to be the number one retailer in the world and hold virtually no inventory.
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  I think that's I think that speaks to what consumers are are are seeking.
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  Yeah.
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  So let's talk about how all of this is impacting consumer packaged good folks.
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  Like, because that that that's that's where some of our folks are.
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  You created a product.
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  You you you know, you you work really hard to get it on the short sells at Walgreens at Rite
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  Aid or at you know, how how can you impact that environment when it's not your store?
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  Well, the point of the matter is that retailers, they're looking for solutions.
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  They want to continue to drive growth.
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  They want to continue to drive traffic in their stores.
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  And so, so to speak, leadership is for the taking, As it relates to retailer and
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  manufacturer partnerships, they're looking for category growth partners, category leaders, to
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  come in and help them understand what really are the nuances that will drive sales and drive
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  real growth.
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  And that's based on being able to fulfill consumer needs.
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  So it's it's about partnering with partnering with retailers.
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  It's about innovating for unmet consumer needs in any any particular category.
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  That's, you know, that spans whether it's beauty or or or beverage or vitamins and
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  supplements, it's really just solving consumer needs.
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  Everything starts with the consumer, and leadership is for the taking.
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  They really are looking for manufacturer partners to provide objective, deep contextual
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  information that will help them to drive overall retail.
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  Now can you talk about how how small products, you know, small product businesses can gain
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  what we call, you know, the deep contextual insights from customers that they could use to
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  innovate with a retailer part retail partner.
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  Well, to today, I think it's much easier to have a deeper understanding of consumer needs
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  because there are more touch points, quite frankly.
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  Women and men are more in control of the messages that they receive.
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  And those message providers are are finding ways to capture that information so that
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  manufacturers are not able to get gain access to the insights from that so that they can
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  deliver customized solutions or what we're calling, what I'm calling now, DNA thumbprinted
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  solutions, based on the history and the data that goes with that consumer or that consumer
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  profile.
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  But how has influencer marketing got in the mix of all this up?
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  Cause it seems like if, you know, Kim k or one of these people pick up a tubular lipstick, all
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  of a sudden, it's like, everybody's gotta have, you know, so so how has influencer marketing,
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  you know, kind of celebrity driven marketing.
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  You know, it's so interesting.
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  And particularly, you might imagine that is true in beauty.
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  And it it is true irrespective of the channel, whether it's online or whether it is in a
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  specialty store like Ulta or Sephora or in mass channels or drug or beauty supply stores, those
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  influencers really do impact and drive the trends.
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  But what I'll say is that it promotes awareness and it generates opportunities for trial.
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  But the key to winning and having sustained success at retail is when people make repeat
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  purchases.
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  Right.
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  Would be anybody about something once.
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  Right?
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  The goal is Exactly.
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  And that actually really relates to beauty or hair products.
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  If you have something that doesn't work or weighs your hair down or color.
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  You know, it doesn't matter how many influential people are using it.
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  It's just not for you.
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  And so influencer marketing certainly has had its place and it's very prominent in the
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  category.
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  Again, I'll say it really is for awareness and trial, but not necessarily repeat.
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  But what I will also say is that in the beauty category, many of the influencers are actually
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  the brand creators.
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  And so they've made their own connections with consumers.
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  Some of the largest and fastest growing brands are those brands that have their own following
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  their own community of followers and consumers and people, consumers who they have direct
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  contact with, and they're able to control their messages to them and able to drive, you know,
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  that direct connection, added community events, at charitable organizations, connecting mom to
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  mom, or wife to wife, and it really just is making those authentic connections.
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  And those are the brands that are really honestly seeing the most growth right now.
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  Now one of the things that I feel like social media has done to fashion brands in particular
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  is this concept of C Now eye now.
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  You know, it seems like like these big runway shows that these brands wanna have, and then
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  they wanna release the product 6 months later.
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  That that's not flying anymore.
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  It seems like people wanna be able to, you know, do this now
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  by now.
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  Yes.
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  We have.
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  It's like people are not waiting 6 months to have that dress.
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  Absolutely.
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  That that that's true.
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  And it's it's true.
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  I think irrespective of of the industry that we're talking about, whether it is fashion or
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  or beauty or lipstick or items for the car for automobiles, if you see it and want it, you you
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  are able to hit the buy now button.
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  And I know manufacturers and retailers are are crazy about this because it's most of that is
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  ad free ad free, no advertising on these sites.
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  So or limited, I should say.
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  And but I just think that it allows you to have a more direct connection with consumers, and it
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  really is working particularly, as I said, in beauty.
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  You do have the buy now there are cosmetics brands that have been launched on these
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  platforms.
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  I mean, I see a young lady who has a cosmetics brand.
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  It's very Urban, very directly connected consumers.
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  She went on for 30 minutes and sold $1,400,000 in makeup.
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  Wow.
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  That sounds like a Neil Patel launch to me.
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  Anyway, now but let but let's talk about this whole concept of Instagram.
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  And how Instagram has really I mean, if you got a hot product or you got a product that looks
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  good or you create a wonderful sizzle reel, you can make zillions on Instagram.
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  See, like, Instagram was made for product businesses.
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  I believe it, and I'm a witness.
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  I have front row seat to it.
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  And I see that many of these brands that are doing so well and have a large social following
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  that that it is translating into retail because they're able to control their messages.
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  They're sending out the messages.
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  Oh, guess what?
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  We've been working all night, and we were finally able to fill the order to retailer X Y
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  Z, please go in and support us.
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  You know, it's because of those direct and authentic connections and what consumers are
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  seeing and seeing as art is in or more haphazard products, which they're really
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  seeking.
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  Now talk about category management.
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  Can you explain What category management is and how you can use it to drive retail sales?
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  That's a good question because every time someone asks us, What do we do?
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  Where are we?
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  And we say category management.
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  Okay.
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  So what is that again?
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  Well, what is we really are now referring to it as category growth management.
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  Because we consider ourselves as stewards of growth, working with manufacturers objectively
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  and retailers to objectively drive growth for the good of the category.
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  And so category growth management really illuminates insights that will help our
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  manufacturer partners to innovate in the white spaces where there are opportunities or where
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  consumers are underserved.
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  And we often will analyze those what we call unsexy areas or the the metrics related to
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  sales, sales per unit per store, how much of your product was sold on a promotion?
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  What is your average velocity?
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  What how how are you doing versus those brands that are in your tightest competitive set?
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  Also in your price band.
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  So we really dig in and pull out the insights.
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  It's more than just having the data.
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  The data really does not do you as much good.
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  I would say no good.
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  It it's it it really is only valuable unless you're able to extract the insight that will
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  help you to drive your sales in a way that push you away from the competition.
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  Alright.
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  Alright.
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  Now tell me, what is What is the re future of retail?
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  What is the future of retail marketing?
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  What is gonna happen?
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  Well, I retailers are having to reimagine their ROI for consumers there, they must reimagine
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  and maximize the return on investment.
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  And we think that there are probably three areas that they will focus on the first being
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  more personalized offering.
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  They have so much data.
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  You know, you can't buy a piece of gum without them as for your email address, your home phone
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  number, you know, what grade is your child in.
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  And so how long have you been married?
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  So you have to you may have that data and really to serve you better.
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  So one, we think that, 2, we think also that they are trying to remove the pain points.
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  They want it to be frictionless shopping for you because they know there's so much
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  competition.
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  As well as they have to maximize their return.
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  There's no more trading down or having to trade up Aldi as a sample, they're best in class
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  where you can get more for less.
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  And so we see that as the future of return in those three areas.
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  Alright.
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  And tell me what's the best business advice you've ever gotten?
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  Oh, so much.
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  I I I I'm not one of the ones who has to learn by hitting my own head.
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  I will watch and good advice.
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  I think the best advice I got, though, was to find your niche and to drive into it, to drive
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  the innovation in that, do more than what anyone would ever expect in that area, get
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  partners, collaborate.
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  Don't be afraid to to be a pioneer just because something hasn't been hasn't been done.
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  And people always try to tell you what can't be done until they see you doing it.
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  So We, we really take take that seriously, and we innovate in this area to help really drive
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  insights that will drive sustainable growth.
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  Awesome.
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  Awesome.
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  Well, Romita Brown, thank you so much.
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  Thank you for joining us from Strategic Solutions International in Chicago, Illinois.
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  And, listen, this has been an amazing 10 year ride.
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  I am so grateful to have the opportunity to be the small bus lady and to have given you guys
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  small business advice for the last 10 years.
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  Special thanks to tonight's guest.
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  But, you know, for the past 10 years, it has been my pleasure to execute our mission to end
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  small business failure.
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  I am Melinda Emerson.
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  I am the small business lady.
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  And until next time, remember this.
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  You never lose in business.
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  Either you win or you learn.
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  God bless everybody.
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  Good night.
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  Thank you for listening to the Small Biz Chat podcast with Melinda Emerson.
• 14:58
  For more resources and small business success strategies, visit succeed as your own boss.com.
• 15:05
  Subscribe to this podcast wherever you listen to podcast and join us next Wednesday.