5 Tips For Running A Retail Business Or Restaurant Like A Campaign

This year’s presidential election gave us a lot to think about. Among all of the takeaways from this election year, there is a subtle, yet important one for merchants: you should be running a retail business or restaurant like a campaign.

Here are five ways business strategy aligns with political campaigns and how they can help your business grow:

1. Setting objectives. Political campaigns have an ultimate goal (winning an election) and set objectives to get there. The same basic process is used when running a retail business. You have broad goals for your business, such as increased sales, but you need to set the specific steps or objectives that will allow you to reach those goals. Just as with a political campaign, you should find a way to quantify and monitor progress and adjust your strategy to get the desired results.
2. Gathering evidence. Once you’ve set objectives, you’ll need to gather evidence on how to accomplish them. This isn’t evidence to discredit a competitor, but rather information to help you learn all you can about how to reach your objective. For example, if you want to attract younger customers to your business, research which items to offer at price points they’ll respond to and how to keep them engaged through loyalty rewards or promotions.