Version 3.0 9/30/2011 - Benjamin Moore &...

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Version 3.0 9/30/2011

Transcript of Version 3.0 9/30/2011 - Benjamin Moore &...

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Version 3.0 9/30/2011

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WHAT’S INSIDE

What this tool does:This tool will provide you with a practical structure for stepping back and taking a fresh look at your business. Only you can decide what to do and where to invest to make your business profitability expand. With this framework you can see where your business is particularly strong and find opportunities to make it even better. Throughout this tool, you will find tips and suggestions for making improvements in your store. They have been gathered from successful retailers around the country. So, when you decide to take advantage of opportunities to improve your business – Benjamin Moore is committed to offering you tools and advice – when you request it.

Index:Taking A Fresh Look (An Overview) ……………………………………………………….3

The Fresh Look Process …………………………………………………………………….3

The Total Store Experience …………………………………………………………………4

Taking A Fresh Look Through The Eyes Of The Customer ……………………………..5

Step 1: A Fresh Look At Your Store’s First Impression ……………………..6

Step 2: A Fresh Look At Your Store’s Welcoming Moment …………………9

Step 3: A Fresh Look At Your Store’s Financial Fitness ……………………15

Step 4: A Fresh Look At Your Store’s Customer Service …………………..22

Step 5: A Fresh Look At Your Contractor’s Experience …………………….24

Step 6: A Fresh Look At Your Store Professional’s Experience …………..26

Step 7: A Fresh Look At Your Experience As A Retailer …………………….28

Action Plan ……………………………………………………………………………………31

Where To Get More Information & Support ……………………………………………….32

When to use this tool:Review this process to evaluate your store once a month

Do it yourself and also ask your managers and store professionals to do it with you

If you notice a change in your business, complete this tool to see what is making the difference

Use this tool to build your business

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TAKING A FRESH LOOK - OVERVIEW

How to use this guide:Take a Fresh Look at your store using this tool.Pick a few priorities to focus on. (We suggest no more than 3 priorities at a time)Identify the key actions it will take to get each of your priority areas to the level you

desire. If you are not sure which priorities to set or what actions to take, feel free to consult with your Benjamin Moore Representative – we have experts and resources to help you make the enhancements you’d like to see in your business and in your life as an independent retailer.

Engage your store professionals in implementing the key actions.Take another Fresh Look to see the improvements.

For more information…Contact your Benjamin Moore Representative who can provide you with additional tools to make the enhancements you would like and/or connect you with experts who can work directly with you.

A Fresh Look at your….Store’s First Impression

Store’s Welcoming Moment

Store’s Financial Fitness

Store’s Customer Service

Contractor’s Experience

Store Professional’s Experience

Experience of Being a Retailer

Taking A Fresh Look – OverviewRetail success comes from the total store experience. It’s actually the sum of three experiences: your customers’, your store professionals’, and yours. If you take a fresh look at your business from these three different points of view, you’ll discover:

Great things you didn’t know were happening – that areSome things you thought were happening – that aren’tSimple things you can do to increase your growth – Now!Some long-term investments that will increase and sustain your growth

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THE TOTAL STORE EXPERIENCE

The Three Different Points of View in The Total Store Experience are:

Your Customer’s ExperienceGenerally, your customers want five things from the experience of buying from your store:

Reliability – Do you and your store professionals do things consistently? Do you keep all the promises you make?

Assurance – Does your store’s appearance, your store professional’s appearance and their behavior inspire trust and confidence that “I’m in the right place”?

Tangibles – Is your store neat, easy to walk around and well merchandised? Are all the products in your store of high quality?

Empathy – Do you and your store professionals express a genuine concern for the success of each customer’s decorating project?

Responsiveness – Do you and your store professionals quickly try to meet the needs of your customers – particularly the unusual needs?

Your Store Professional’s ExperienceGenerally, store professionals are motivated by one or more of the following:

Achievement – Store professionals motivated by success want to know how they can contribute to your business, how successful they are, how to be better, and that you recognize their contributions.

Affiliation – Some people are motivated by the chance to spend time with other people. The more time they spend with people and the friendlier the interaction, the more motivated they are.

Influence – Folks motivated to convince other people to do things differently often make good salespeople or good supervisors.

Compensation – For some employees, it’s the most important reason they come to work and these people need to feel like they are making a reasonable amount. However, they can often be additionally motivated by the factors listed above – knowing what motivates them is important.

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THE TOTAL STORE EXPERIENCE (con’t.)

Your ExperiencePeople who own or manage businesses are not like everyone else. Generally, as an entrepreneur you’ve taken more risks and worked harder.

Take some time to really look at the rewards you want – with a clearer view of the future, you’ll get there sooner and feel more confident along the way.

Here are some questions to trigger your thinking:What kind of reputation do I want the store to have in our community?How much do I want to make?How much do I need in long-term investments and store equity to insure my future?What kind of life style do I want?How much leisure time do I want?What do I want to do when I’m relaxing?

Taking a Fresh Look through the Eyes of the CustomerAs an independent Benjamin Moore Retailer, you have at least two types of

customers: contractors and consumers. Each has specific needs that should be addressed in order to be a successful retailer.

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STEP 1 – YOUR STORE’S FIRST IMPRESSIONTake a walk down the block. Turn around, walk toward your store and pay careful attention to what you see as you get closer. Here’s a list to prompt your thoughts:

Observation: Exterior of StoreDescription:All exterior signs pop out and are attractive, compliant and easily visible.

Rating: 1 2 3 4 N/A

Action to Improve:

Description:Exterior walls, fascia in good repair, color choices and paint are best reflection of the business. Exterior lights are in good condition and functional, windows are clean and uncluttered.

Rating: 1 2 3 4 N/A

Action to Improve:

Using the Ratings

1 – A Real Strength

2 – Satisfactory

3 – Needs Improvement

4 – Don’t Know/Need More Info

N/A – Not Applicable to my store

Need Assistance? Fluoresco Sign ProgramBenjamin Moore offers a sign program through Fluoresco Lighting & Sign Company. Contact your Benjamin Moore Representative to order.

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STEP 1 – YOUR STORE’S FIRST IMPRESSION (con’t.)

Observation: Exterior of StoreDescription:Parking areas are clear, landscape is attractive and sidewalks are clean, safe and in good repair.

Rating: 1 2 3 4 N/AAction to Improve:

Description:Receiving area unobstructed, free of clutter and refuse containers properly maintained.

Rating: 1 2 3 4 N/AAction to Improve:

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STEP 1 – YOUR STORE’S FIRST IMPRESSION (con’t.)

Observation: Exterior of StoreDescription:Store entrances are unobstructed, ADA compliant and stroller friendly. Store hours sign and current door clings are displayed on door windows. Store windows are clean, uncluttered and current POP displayed. Walk off mat is vacuumed.

Rating: 1 2 3 4 N/A

Action to Improve:

Need Assistance? Store Hours Sign & Walk Off MatThe Benjamin Moore store hours sign and walk off mat are available for order. Contact your Benjamin Moore Representative to order.

Observation: Exterior of StoreAs you get closer to my store you get a strong sense that this is a great place to shop – you want to go in.Overall Rating: 1 2 3 4 N/AAction to Improve:

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STEP 2 – YOUR STORE’S WELCOMING MOMENT

Observation: Interior of Store – Store Layout & DesignDescription:First impression of your store, as your enter is unobstructed sightlines. The store is well lit and walls and ceilings are unstained, clean and attractively painted. Floors are clean, polished, clear of obstructions, ADA compliant and aisles are free of boxes and clutter.

Rating: 1 2 3 4 N/AAction to Improve:

Description:Fixtures and displays are placed with proper zone adjacencies for ease of customer navigation. i.e. Color tools are adjacent to create the Decision Area, gondolas are placed adjacent and merchandised by product category to create the product, prep and application zones.

Rating: 1 2 3 4 N/AAction to Improve:

Need Assistance? Store Design ServicesBenjamin Moore offers store design services that can improve your store’s layout, improving your store’s shopping experience. Contact your Benjamin Moore Representative to schedule your consultation.

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STEP 2 – YOUR STORE’S WELCOMING MOMENT (con’t.)

Observation: Interior of Store – Product Placement & MerchandisingDescription:Merchandise is organized with proper product category adjacencies creating clearly defined product sections within the product zone.

Rating: 1 2 3 4 N/AAction to Improve:

Description:Product is vertically merchandised, fronted with price labels. Product and shelves are clean and free of dust. Current directional and product information POP is displayed in a visual location. Lighted fixture cladding is functional.

Rating: 1 2 3 4 N/AAction to Improve:

Need Assistance? Product Merchandising ToolsBenjamin Moore offers a wide variety of tools to support your store’s merchandising and product placement. The following list of tools are available on www.mybenjaminmoore.com.

Planograms

Retail Support Guides

ISM Header & Shelf Talkers – available in all product POP kits and for order through BMO

TOMAX – price labels, product inventory system

Southern Imperial – price label solutions

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STEP 2 – YOUR STORE’S WELCOMING MOMENT (con’t.)

Observation: Interior of Store – Promotional MerchandisingDescription:End Caps are placed in main traffic aisles for high visibility. End Cap merchandise is constantly rotated based on store specials and seasonal items. End Caps are fully stocked, current POP in place and visible, clear price labels are displayed.

Rating: 1 2 3 4 N/AAction to Improve:

Description:Paint can stackers and skids are used in promotional, main traffic aisles placed with proper merchandise adjacencies. Paint can stackers and skids are constantly rotated based on store specials and seasonal items. Paint can stackers and skids are fully stocked with current POP in place.Rating: 1 2 3 4 N/AAction to Improve:

Need Assistance? Promotional Merchandising ToolsBenjamin Moore offers a wide variety of tools to support promotional merchandising in your store. The following list of tool are available on www.mybenjaminmoore.com.

Planograms

Retail Support Guides

ISM Header & End Cap Posters – available in most product POP kits and for order through BMO

Paint Can Stacker Toppers – available in some product POP kits.

TOMAX – price labels, product inventory system

Southern Imperial – price label solutions

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STEP 2 – YOUR STORE’S WELCOMING MOMENT (con’t.)

Observation: Interior of Store – Design Decision AreaDescription:The Design Decision Area includes an inviting, uncluttered table with chairs in a well lit area near the front of the store. Floor and Decision Area Rug are clean and vacuumed. It is important to note that the Design Decision Area is one of the most important areas in your store as it is your store’s first impression. The Design Decision Area is the first opportunity you have to convey to your customers that you are a premium retailer.

Rating: 1 2 3 4 N/AAction to Improve:

Description:The Design Decision Area displays, such as the Color Preview Studio and Inspiration Unit, have current POP materials, current color and inspiration brochures and color chips and samples are fully stocked. Displays are dust free, clear of any clutter, clear of taped signs (printed or hand written) and properly lighted.

Rating: 1 2 3 4 N/AAction to Improve:

Need Assistance? Benjamin Moore Color ToolsThe Benjamin Moore Fixture Reference MCode guides shows current POP and brochure placement specific to each Design Decision Area display. The Fixture Reference MCode guides are specific to each store type. The Fixture Reference MCode Guide is available on www.mybenjaminmoore.com.

Signature Paint & Decorating

Authorized Paint & Decorating

Ace Hardware Stores

US Hardware Stores

Regional Outlet Stores

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STEP 2 – YOUR STORE’S WELCOMING MOMENT (con’t.)

Observation: Interior of Store – Service ZoneDescription:The service counter is uncluttered, clean and in good condition. All current POP is displayed. Shelving behind counter is organized.

Rating: 1 2 3 4 N/AAction to Improve:

Description:Tint area is organized and clean with proper lighting and is located separate from the sales floor.Rating: 1 2 3 4 N/AAction to Improve:

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STEP 2 – YOUR STORE’S WELCOMING MOMENT (con’t.)

Observation: Interior of StoreDescription:Restrooms are customer friendly, clearly marked, clean and tidy with stocked dispensers and attractive walls. It is important to note that the impression the public restrooms can have a big impact on your customer’s overall impression of your store. The restroom area and its cleanliness is a big factor to shoppers. Paying close attention to the quality of the public restrooms in your store will leave the impression you really do care about your customers.

Rating: 1 2 3 4 N/AAction to Improve:

Description:Exit signs are clearly visible and lighted at all exits. Fire extinguishers are accessible and clearly visible. First aid kit is available. Again, ensuring your customers’ and store professionals’ safety is showing your store staff and customers that you really do care about them.Rating: 1 2 3 4 N/AAction to Improve:

Overall Impression: Interior of Store

Overall Rating: 1 2 3 4 N/A

Entering my store you feel welcome and confident that this is the place where you can get the highest quality products, service and advice; it’s clear where you need to go for the products on your list and the advice you may need.

Action to Improve:

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STEP 3 – YOUR STORE’S FINANCIAL FITNESSThis section will provide you with a practical structure for stepping back and taking a fresh look at the financial fitness of your business. This is a chance to see which financial areas of your business are particularly strong and to find opportunities to make other areas even better. Included in this section are a series of questions that ask you to take a look at various financial aspects of your business, evaluate how you think you are doing in those areas, and which areas you may improve.

The areas covered in this section are:Increasing Sales

Increasing Gross Profit

Reducing Expenses

Inventory Management

Accounts Receivable Management

How to use this tool:First gather your most recent financial reports (Profit & Loss Statements, Balance

Sheet, Cash Flow Statements)

Set aside some uninterrupted time to read it through

Select one or two topics to start

Create a plan to follow-up on the areas you see the greatest needs and opportunities

Where You Can Find Additional Help:For more information on financial consulting services provide by Benjamin Moore contact:

The Retailer Business Consulting Group

101 Paragon Dr

Montvale, NJ 07645

800-635-5147 x1090

[email protected]

Disclaimer: The information provided in this section is offered as an accommodation for discussion purposes only. It is not to be construed as financial planning or tax advice. Benjamin Moore suggests that you contact your own accountant, tax and/or financial planner for advice specific to your business.

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STEP 3 – YOUR STORE’S FINANCIAL FITNESS (con’t)To get started, set aside some time to do a quick financial checkup to get a view of the current state of you business. Make sure you have gathered your most recent financial reports including a Profit & Loss Statement, Balance Sheet, Cash Flow Statements and any other financial reports you may use.

Financial CheckupSales

My projected sales for the period ending __ __/__ __/__ __ were: $

I am currently at: $

I am (ahead/behind) my sales goal by: $

Gross ProfitMy projected gross profit for the period ending __ __/__ __/__ __ was: $

I am currently at: $

I am (ahead/behind) my gross profit goal by: $

My gross profit percent is (gross profit/total sales) %

ExpensesMy operating expenses for the period ending __ __/__ __/__ __ were: $

My income/loss (gross profit – operating expenses) for that period was: $

My operating expense ration (operating expenses / sales) is: %

My key operating expenses as a percent of sales were:a) Payroll (total compensation of executives and employees, not including taxes and benefits/sales)b) Medical Benefits (benefits/sales)c) Gross Advertising (advertising/sales)d) Rent (rent/sales)

%

%%%

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STEP 3 – YOUR STORE’S FINANCIAL FITNESS (con’t)

Key Questions for You to Consider for Your BusinessDescriptionI have a marketing plan and advertising budget to drive customers to my store.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionI utilize all of my co-op funds for advertising. What percentage have I utilized this year? (Please visit www.mybenjaminmoore.com )

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionMy staff and I make a conscious effort to ensure the customers have purchased everything they need to do the job correctly.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionI use merchandising techniques to encourage add-on sales by my customers.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionI have analyzed my pricing strategy to maximize profit margins.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionI’m driving in more DIY/Retail business into my store.

Rating: 1 2 3 4 N/AAction to Improve:

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STEP 3 – YOUR STORE’S FINANCIAL FITNESS (con’t)

Key Questions for You to Consider for Your BusinessDescriptionI’m encouraging my staff to make more add-on sales and sundries.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionI have analyzed my staffing needs and have determined that my staffing level is optimal.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionI don’t have too much cash tied up in excess inventory.

Rating: 1 2 3 4 N/AAction to Improve:

Overall Impression: My Store’s Financial FitnessOverall Rating: 1 2 3 4 N/AAction to Improve:

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STEP 3 – YOUR STORE’S FINANCIAL FITNESS (con’t)

Inventory Management CheckupDescriptionWe measure our inventory turns and analyze their impact on our cash flow.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionWe closely monitor our quantity-on-hand requirements.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionWe have a plan for overflow and safety stock.

Rating: 1 2 3 4 N/AAction to Improve:

Calculating Your Inventory Turns RatioThe two components in calculating your inventory turns are average inventory and cost of goods sold (COGS). These components must be accurate in order to accurately reflect inventory turns in your business.

Need Assistance? Retail Management SolutionBenjamin Moore offers the Retail Management Solution point-of-sale (POS) system that manages inventory and much more. Visit www.mybenjaminmoore.com for more information.

See the guide Practical Suggestions for Managing and Controlling Inventory for more details on calculating your inventory turns.

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STEP 3 – YOUR STORE’S FINANCIAL FITNESS (con’t)

Inventory Management CheckupDescriptionWe have a plan to deal with shortages and key store professionals are aware of the plan.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionWe measure our product assortment’s gross margin per square foot and make adjustments to our inventory and merchandising to maximize returns.

Rating: 1 2 3 4 N/AAction to Improve:

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STEP 3 – YOUR STORE’S FINANCIAL FITNESS (con’t)

Accounts Receivable CheckupDescriptionMy credit policy is clearly defined.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionWe use standard credit application for our customers.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionOur collection process is standardized and effective.

Rating: 1 2 3 4 N/AAction to Improve:

DescriptionWe utilize the Preferred Commercials Account program.

Rating: 1 2 3 4 N/AAction to Improve:

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STEP4 – YOUR STORE’S CUSTOMER SERVICEBeing customer-focused and responsive is the hallmark of successful retailers. This section focuses on behaviors that demonstrate excellent customer service.

Customer Service CheckupPaying Attention Rating: 1 2 3 4 N/A

We say “Hello” to everyone who comes inIf we’re with another customer, we take a moment to

say “Hello, I will be right with you.”When not serving a customer, we are out from

behind the counter and on the floor.We are always smilingWe do not have social conversations when a

customer is in the store.

Action to Improve:

Knowing the Product Line Rating: 1 2 3 4 N/AEvery store professional knows the 20 most popular

primers and paints and when and how to use themEvery store professional knows the importance of

prep and applicationOnce a week we spend 10 – 15 minutes reviewing

one or two products.Every store professional has completed or is

working towards the completion of Benjamin Moore’s Paint Associate certification.

Action to Improve:

Helping the Customer Rating: 1 2 3 4 N/AWe always give the customer optionsWe provide all the information they need – but no

moreThe information we provide is practicalWe ask our customers questions that help them

decide what is best for them using the Solution Based Selling model.

We make sure the customer has everything they need to do the job right

Action to Improve:

Need Assistance? Customer Service & Product TrainingBenjamin Moore offers customer service and product training and certification through my

Learning Center available on www.mybenjaminmoore.com.

The Voice of the Customer program provides consumer online feedback along with regularly scheduled mystery shops to ensure your store is providing the best customer service. Contact your Benjamin Moore Representative to sign up

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STEP4 – YOUR STORE’S CUSTOMER SERVICE (con’t)

Customer Service CheckupSolving Problems Rating: 1 2 3 4 N/A

We listen carefully to a customer’s problemWe ask questions to make sure we understand the

problemIf we created the problem or the customer thinks we

did – we apologizeWe offer suggestions, when the customer wants

them

Action to Improve:

Keep Return Customers Rating: 1 2 3 4 N/AWe walk the customer to the service counterWe ring up the sale quickly and accuratelyWe invite the customer to call us if they need any

suggestions or adviceWe offer to carry heavy purchases out to their carWe always say “Thank you – we’ll see you soon”

Action to Improve:

Overall Impression: Customer ServiceCustomers who shop our store feel welcome and valued. They often tell us what a pleasure it is to work with us. Sometimes they say “I wish my ____ provided the kind of service you do!”

Customer Service Overall Rating: 1 2 3 4 N/A

Action to Improve:

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STEP5 – YOUR CONTRACTOR’S EXPERIENCEWhen it comes to customer service, everything that is important to consumers is important to contractors. But contractors want some services that are not pertinent to consumers.

Contractor Service CheckupStore Access Rating: 1 2 3 4 N/A

We open early for contractorsWe have extra staff available for peak contractor

timesWe have staff with special expertise in contractor

needsIn the morning we provide complimentary fresh

coffee to our contractors and their crewsContractors can place orders – including custom

tints – by phone, email or fax for pick-up the following day

Action to Improve:

Knowing Their Business Rating: 1 2 3 4 N/AWe have a profile of each contractor and their

businessWe know the types of projects each contractor

handlesWe know how many people work for each contractorWe keep a preference list for each contractor (e.g.

preferred brushes, rollers, etc)We keep a Contractor’s Reference book.

Contractors can describe the services they offer, provide letters from satisfied clients and pictures of their work

Action to Improve:

Contractor Services Rating: 1 2 3 4 N/AWe’ll deliver orders of 10 gallons or moreWe’ll make emergency deliveries to keep a job on

scheduleWe give contractors free color samples to use with

their clientsWe hold product demonstrations for contractors and

their crews at regular intervalsWe provide a workshop in painting basics for our

contractors’ new crew membersWe make appointments with our contractors’ clients

to advise them on color selection.

Action to Improve:

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STEP 5 – YOUR CONTRACTOR’S EXPERIENCE (con’t)

Contractor Service CheckupContractor Processes Rating: 1 2 3 4 N/A

We have a process to track contractor preferences/needs to ensure we have sufficient inventory so they can rely on getting what they need when they need it

We maintain tinters, shakers, color matching computers, etc (including software updates)

We clean and test all equipment prior to peak contractor hours

Action to Improve:

Contractor Credit Processes Rating: 1 2 3 4 N/AWe have a process to check first-time contractors –

where did they conduct business and why did they change? Are they a good credit risk? What can we do to build their loyalty?

We have billing/payment processes that are convenient for contractors and provide us with a strong cash flow

Action to Improve:

Overall Impression: Contractor ServiceContractors who do business with our store feel like we know them and their businesses. They can always count on us to have what they need or get it quickly. They find us so helpful and easy to do business with that they feel we are a part of their success.

Contractor Service Overall Rating: 1 2 3 4 N/A

Action to Improve:

Need Assistance? Benjamin Moore Contractor ProgramsBenjamin Moore offers contractor programs that could be the answer to your contractor needs in store. Visit www.mybenjaminmoore.com for more information.

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STEP 6 – YOUR STORE PROFESSIONAL’S EXPERIENCE

Store Professional Experience CheckupHiring Rating: 1 2 3 4 N/A

We hand out formal applicationsWe use a written set of interview questions with every prospect new hireProspect new hires are interviewed by at least two members of store managementNew hires must have a skill set and personality to service customers, learn about new product and be a team

playerOur interview dialogue conveys that this is a business/company where they have an opportunity to grow and

be successful

Action to Improve:

Starting Out Rating: 1 2 3 4 N/AWe have a formal training process for new hires which includes product and customer service training using

the courses on my Learning Center.Each new hire is given an unique user ID and password for www.mybenjaminmoore.com.Each new hire has a training “coach”Each day the store manager/owner spends time training the new hire for the first four weeksWe have a new hire probation period established therefore if the new hire is not working out, the deficiencies

can be immediately addressed.

Action to Improve:

Recognition Rating: 1 2 3 4 N/AWe have a formal store professional recognition programWe participate in the Benjamin Moore certification program and celebrate the completion of each level of

certification that a store professional achieves.When telling a store professional they did a good job they are told what they did, why it is important and how

much it is appreciatedWhen we receive a compliment from a customer, we share it with our store professionals

Action to Improve:

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STEP 6 – YOUR STORE PROFESSIONAL’S EXPERIENCE (con’t)

Store Professional Experience CheckupTraining Rating: 1 2 3 4 N/A

We hold training sessions of 60-90 minutes at least once a monthWe participate in the Benjamin Moore certification program and each store professional knows the road map

they need to take in order to reach each level of certification.We refresh customer service training every quarterWhen we get a customer complaint, we discuss it as a team and how we can improve in the futureI delegate challenging tasks and projects to give people a chance to build and show their talent

Action to Improve:

Performance Management Rating: 1 2 3 4 N/AMy store professionals receive a formal performance appraisal at least once a yearAt least every 3 months I sit down with each store professional and let them know how they are succeeding

and where they can improve

Action to Improve:

Store Professional Experience CheckupOur store professionals know they are important and part of our success. They enjoy being part of a team; they take pride in serving our customers. Working here provides them with opportunities to grow and build lifelong skills.

Store Professional Experience Overall Rating: 1 2 3 4 N/A

Action to Improve:

Need Assistance? Store Professional’s ExperienceBenjamin Moore offers the following tools and programs to help ensure your store team has the best experience at work. The following tools and programs are available on www.mybenjaminmoore.com.

Recruiting for Business Success tool

Benjamin Moore Rewards

My Learning Center

Benjamin Moore also has Market Training Specialists that can offer one on one training with your store professionals. Contact your Benjamin Moore Representative for more information.

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STEP 7 – THE RETAILER EXPERIENCEBeing an independent retailer is difficult, challenging work. You put everything you have into your business. We understand and respect that. The checklist below is to help you make sure that you are getting everything you want and deserve as an independent retailer.

Retailer Experience CheckupMy Personal Income Rating: 1 2 3 4 N/A

I would like to increase my personal cash compensation by $________ a monthI have been able to increase my personal cash compensation for the last three years by more than the rate of

inflation

Action to Improve:

My Long-Term Investments Rating: 1 2 3 4 N/A(Other than my own business)

My long term investments are going to enable me to achieve what I want in the long term. For me this includes the following goals:1.2.3

Action to Improve:

Competitiveness Rating: 1 2 3 4 N/AMy store clearly provides a better experience and better value than any other paint or decorating store within

15 miles.My business has continued to grow despite the development of “big box” stores within 15 miles

Action to Improve:

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STEP 7 – THE RETAILER EXPERIENCE (con’t)

Retailer Experience CheckupManaging People Rating: 1 2 3 4 N/A

Store professionals come to work every day on time and motivatedStore professionals know the products and how to sell themStore professionals in our store go the extra mile to serve customersStore professionals feel like they are a part of my teamI’m confident we pay well and get what we pay forI enjoy training and coaching our store professionalsWorking with our store professionals is funCustomers regularly tell us they are pleased with our service

Action to Improve:

My Reputation Rating: 1 2 3 4 N/AMy store is known and respected as one of the best retail operations in the communityOther retailers want to know how we run our business and our customers are satisfiedPeople come to our store because they trust us to give them great advice and fair value

Action to Improve:

Overall Impression: Retailer ExperienceI am making the money and investments I need to have the life I want now and in the future. I enjoy managing my store and leading our people. I also enjoy the respect I have in the community.

Retailer Experience Overall Rating:1 2 3 4 N/A

Action to Improve:

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ACTION PLAN

Focus & Set Realistic GoalsWe have suggested you take a fresh look at the numerous elements that go into making your store successful. No doubt you have added a number of additional elements that are important to you and your most valuable customers. Keep in mind how busy you are. Focus on just one or two things to improve. Pick the ones that are the most simple to implement. Once you’ve improved on these elements, take the next two from your list. And don’t forget to take a Fresh Look every month to find new ways to grow your business.

Action PlanLook over your ratings and comments throughout this documentPick a few things (no more than three) that you would like to change to improve your businessFor each thing you want to change, fill out the four columns belowAsk for any support you want or need

Things I would like to Change

Actions I Will Take Support I Want Date to Finish

Example: Use my end caps as promotional merchandising opportunities, not permanent merchandise homes.

1. Plan out end caps based on store promotions and seasonal items.2. Use Retail Support Guides and Planograms as merchandising guides.3. Use end cap posters.

Consult with my Benjamin Moore Representative on my end cap plan.Refer to www.mybenjaminmoore for support guides and planograms.

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INFORMATION & SUPPORT

Where to Get More Information & SupportUse the table below for references of available resources from Benjamin Moore.

Area / Topic Contact Information

Benjamin Moore Sales Rep

Store Development Programs

Store Design Services

Planograms and Retail Support Guides www.mybenjaminmoore.com

In-Store POP Order through CIC at [email protected] or contact BM rep

Southern Imperial Catalogue is available on www.mybenjaminmoore.com

Store Financial Performance Use tools provided on www.mybenjaminmoore.com or contact your BM rep to schedule a consultation

Training Materials Access the my Learning Center on www.mybenjaminmoore.com

Contractor Programs www.mybenjaminmoore.com

Human Resources www.mybenjaminmoore.com

Retail Management Solutions Get information on TOMAX POS system on www.mybenjaminmoore.com. Contact your BM rep for order and installation information