What can you do to increase turnover? How can you get more customers in the door? How can you improve profitability?
What can we do to increase our turnover?
What can we do to get more customers in the door?
The easy and straight forward part is 'what to do'. Here is a simple checklist as a guide:
Always start with ‘Today’s customer’ and what drives their 'buying behaviour’. Consumers are well informed, technically savvy and very experienced when it comes to shopping in traditional and virtual channels these days. They have high expectations around service, value, offers and choice.
Understand consumers from your local area. How can you meet their diverse needs? Find your core audience.
What can you do to get more customers through the door and increase turnover?
Premises- buildings, fixtures, ambience, layout, car park.
- Branding / colours
- Product – range/ mix, quality, pricing
- Presentation – premises and product
- Services – staff, information, delivery, landscape & design, in-store demo’s, promotions, newsletters, Loyalty Programme
- Consistency of service – pleasant, convenient, easy shopping experience
Include attention to convenience, value, and inspiration
- Make sure your point of difference is tangible, unique and a substantially visible customer benefit
- Roadside banners
- Sandwich boards
- Internal category, end use and P.O.S signage
- Bag stuffers / return vouchers
- Loyalty Programme- sustainable and win/win
- Data base marketing – a weekly email newsletter
- Social media – start with regular Facebook posts then increase to include other platforms
- Web site that reflects your premises with a promotions, activities and specials of the week to bring customers in
- Events and activities
What can you do to improve profitability?
- Maximise Sales
- Maximise Gross profit value rather than Gross margin
- Plan, budget
- Streamline supply chain
- Ordering & receiving procedures
- EPOS systems
- Time management, job descriptions, staff reviews, regular staff meetings
- Develop an operations manual
3. Monitor Results
- Key Performance Indicators monthly
- Use these KPI’s to improve financial performance