This post which is part three of the four parts series will further develop what it is you can do to help yourself in your retail business.In the first two we covered very basic problems that needed to be addressed as a matter of urgency such as cutting unnecessary costs and refocusing your attention on you clients.Giving the type of service that marks you out as a Retailer that cares about your clients.How overall we as Retailers have to raise our performance and service due to the down turn in the economy and the scarcity of customers.We covered some of the ideas in the first two posts and hopefully you are finding them working for you.I spoke of the need to maximise the return from your existing client base as most of you can not afford any more marketing costs.So developing new customers is difficult.One way of raising the spend from your existing clients is to inform them about all your services.Make sure that your customer understand the full range of products and services you offer and if you can add a few strategic services all the better.IE if you are a news agents and you have a photocopier you can offer this to small businesses around you that can not afford to buy a copier.If you have a clothes shop do you have access to an alteration facility,this you could offer to your clients at a charge.If you have an insurance business and your client had their house policy with you do they have their health insurance and holiday cover with you.Have you even discussed the fact that you offer those policy’s with them and if not why not?
How can your client know about these services if you do not tell them.Do you think they wake up during the night wondering if you can supply their needs?No it is up to you to inform them.You have to find ways to inform them, by email or newsletter, what ever gets your name in front of them and explains what you can do for your client.A very interesting old gentleman once said to me, a product can not sell if it not revealed to your customers.Also you need to make sure your staff are selling on to your clients.If they are buying a bed make sure you sell them a mattress.If they are buying timber floors, sell them a rug.If they are buying a short sell them a tie.This may seem very straight forward but if you sell one more item to one in every five clients, your turn over will rocket and you have no extra cost associated with this sale.
Research and training is another way to improve you knowledge and performance.As you are already reading this post you are trying to find ways to improve your sales and your services.In the era of the internet there is a huge amount of information free to you and some of it works very well.Also you can introduce training into your daily routine not because your staff have become bad sales people but because all people can and do benefit from the correct type of training.To brush up on the basics to remind them of what they are doing right and focus in on that and keep repeating the right things over and over again.As I said in Part II of this series 80% of your business will come from 20% of you clients, so you have to focus on increasing your take from that 20% of your clients.They will give you that because they already know you and your business.Your clients must like you or they would not be doing business with you.Your clients must like the service you give why else are they using you.So it will not be hard to increase the take from them if you are still sticking to the same business principals.
It is hard not to see that people are down due to the recession.All the bad news on the TV, Radio and News Papers just keeps coming at us from all sides.It is difficult to be in good form with all the struggles to pay the bills, keeping everybody happy except yourself.It is hard to do but work has to be fun, it can not be a chore, so you have to make sure you keep the sunny side out.Do some fun promotions with the staff which the winner gets an extra hour off on saturday morning or the winner can go home early on Friday evening.Some thing that will cheer everybody up and take their minds off the hard slog that work can be some days when you are quite and clients are not as plentiful as you would like.
These are some straight forward ideas for your business and included with the first two parts of the series will give you some good ideas to help you cope in the current reality.As a Personal and Executive Coach I would have a lot more tools to assist your business.Coaching is a progressive and sure way to fire growth in your business.This growth can under the correct circumstances reach very high levels and with that profitability will also grow.I your are interested in my services, contact me and we can discuss if we could work together.