This month’s Hardware Innovators Mastermind talked about big wins and losses for 2024. Marketers and general managers discussed what’s been done successfully and something to ditch for 2025. Let’s dive in!
Marketing Mastermind Takeaways:
1) The Year of Email
Ace corporate sends daily sales-driven emails to Rewards customers, which at times hurts the ‘locally owned and operated’ branding at the store level. Having an in-house newsletter allows separation from the sea of sales and speaks directly to what matters to customers and the local community. Sending out two emails per month, one focusing on sales (not just Red Hot Buys, but local, seasonal, and non-Ace products) and the other “infotainment” has helped build up a solid email base and increase open rates. In 2024, open rates increased from 35% to 58.9%! The key? Be sure to focus emails on giving as much value to the subscriber as possible.
2) Contractor Case Studies
One innovator started working on adding contractor case studies to their website in 2024. It’s a win-win for contractors to have marketing material and each hardware store will have great content to distribute across all platforms.
3) Community Events
It’s no surprise that events bring in traffic and, ultimately, more sales. But, innovators noticed that community-focused events do the best. Things like photos with Santa, Ladies Night, Contractor Appreciation Day, and non-profit events. It’s important to note that the first time you put on an event, it’s going to be time-consuming. But next time, it will take about 30% less time. It might be a heavy lift at first, but it’ll get better!
4) Sales-driven Social Media Marketing is Out
Ever notice that generic social posts don’t garner a ton of attention? But, the posts that talk about store events, employee highlights, and pets that visit the store are always a hit? Creative marketing ideas are always bring in major engagement.
Here are some examples:
Helpful Resources for Marketers
- Check out this blog post for helpful content-generation ideas!
- Feeling stuck with not knowing what event to host? Check out this list!
General Managers Mastermind Takeaways:
1) Outsource Marketing
General managers already wear enough hats! Offload marketing to someone who can take the foundation that you’ve laid and run with it. All those ideas that have been sitting on the back burner can finally come to life with someone who can dedicate time and attention to marketing. This could completely uplevel your store and save your sanity!
2) Effective Team Leadership
The weeks have a way of slipping by. That’s why it’s important to have weekly team meetings – no matter what! These meetings are a good opportunity to get on the same page, talk about store needs, and check in on a personal level with each other. It was recommended to share highs, lows, and stress level check-ins. These are a great opportunity to discuss further in 1:1’s.
3) Stop Operating in a Silo
It can be easy to have the mentality of “if I want something done right, I just have to do it myself.” This mentality can take away from teaching opportunities for staff. For example, figuring out where to place items in-store and pulling the data to figure it out. Let employees chime in. They might provide a different perspective that can be beneficial for the whole store.
2) Leadership Tips to Save Your Sanity
As a leader, it’s easy to forget about your individual needs. When you are able to dedicate some time for yourself every day, you’ll be healthier, happier, and a better manager. Here are some sanity-saving ideas from our innovators:
- Leaning on a support system
- Taking care of your body so you can fully show up every day
- Finding the humor in circumstances
- Finding peace with knowing that you can only control what you can control and letting go of the rest
- Staying true to your values
- I need to find something that is not work-related, set it as a personal goal, and keep track of it.
Helpful Resources for GM’s
- Entreleadership by Dave Ramsey
- Dare to Lead by Brene Brown
- Rainbows and Rainclouds by Molly Campbell
Join us on February 19th for Our Next Mastermind
For February, we’ll have two groups that meet: Marketing and GMs.
Marketers will talk about sales opportunities outside of Red Hot Buys.
GMs will discuss inventory ordering, discounting, and discontinuing. We’ll open the floor to other hardware stores so you’ll hear what’s working and not working nationwide.
Need help signing up? Send us an email: hello@hardwareinnovators.com
Need help signing up? Send us an email: hello@hardwareinnovators.com
Are You On Board?
Does the idea of a monthly meet-up with other retail hardware stores sound valuable to you? Would you like to share resources, ask questions, and participate with your peers on-demand through an exclusive Slack channel?
Email us at hello@hardwareinnovators.com to get access to the Slack Channel! The best part? It’s 100% free and puts you in touch with hardware store general managers and marketers to ask questions and get immediate feedback from what worked at other hardware stores!