Growing your business
What Can Retailers Learn From The World Cup?
Businesses have long been looking outside the box to inform their strategies. And as football fever sweeps the globe, turning to events such as the World Cup which have required careful planning, countless tactics and a whole lot of groundwork actually makes a lot of sense!
Aside from all the excitement, unpredictable moments, yellow cards, penalties and last-minute goals, there are many valuable insights that can be transferred over to the world of business.
Retailers, in particular, can take inspiration from the world of football and mirror practices into their own ways of working and the running of their business. After all, it all counts towards that final goal!
Here are a few lessons we’ve put together:
Build On Teamwork
In every team you have your star strikers; the players that are better upfront, the player that always play in defence, and those that strike up partnerships to get those goals. And of course these formations will determine the team dynamic, which can have a direct impact on whether the strategy will be successful or not.
This can also be applied to the staff working in your retail store. A lot of this will boil down to having a clear structure, and ensuring all your staff have visibility over what each other are doing - with every person taking responsibility over the role they have to play in making your business a success.
This means they can work better together to help each other out when needed and combine strengths to get the job done. To help with this, you should consider holding staff stand ups at the beginning of each day, scheduling in team bonding sessions, arranging training away days and implementing team exercises that allow your employees to learn more about each other and interact on a deeper level.
Have A Strategy
Many of the strategies displayed by teams at the World Cup have taken meticulous planning and dedication. Whether it’s a solid defence plan or a counter-attack ploy, every team needs a game plan in place. After all, it can spell the difference between success and failure - and the same can be said for retailers.
The main lesson to take from this is to always be flexible with your strategy. Sure, you may have a seemingly solid strategy in place but you’ll need to account for unexpected issues, a change in circumstances or a last minute spanner in the works from your competitors. This will be the time when you need to think quickly on your feet, react to what’s going on and restrategise - similar to how football teams regroup and pull out a plan B at half time!
Whether it’s a marketing plan that isn’t working out, a new line of stock that isn’t selling or a sudden demand for out of stock items, there’s no shame in going back to the drawing board and coming up with a new strategy.
Hire a Good Manager
As we’ve clearly seen in this year’s World Cup, a good manager plays a huge part in how the team performs. And the same can be said for leadership and management in the retail sector. Essentially, the manager is there to oversee everything, turn visions into a reality, and keep the team on track - and a lot of this is down to organisation and communication. For example, if a team member isn’t performing as they should, it’s the manager’s job to address this, communicate effectively and work with them to address the issue.
Another important management aspect is the ability to celebrate wins with their team, and recognise each individual employee for their achievements. This will not only boost morale but also drive your team to work even harder!
It’s no secret that football teams come with the most loyal of fanbases. So how do they drive this loyalty even though they don’t always win? The answer is simple - they provide an experience for their fans.
When it comes to retailers, it’s a similar story. Although you may not always be able to provide your customers with everything they ask for, you still need to make their visit a positive one and drive brand loyalty. This could be through loyalty card schemes, a personalised email campaign or outstanding customer service. These are the small touches that will get your customers to associate your brand with an enjoyable experience and keep them returning time and time again!