Marketing

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Marketing

How to tie a Professional ribbon bow!

POS SOFTWARE

If you want to sell gifts in your shop, you need to know how to tie a proper ribbon on a gift box. You want to look professional!

 

I remember my grandfather in his shop, teaching me. It took me quite a few attempts to get it right. Like so many things, it is easy to do once you get the hang of it. Note it would be best if you did it a few times as in retail you will need to be able to do it quick under pressure.

 

Your customers will often take it very seriously, so you need to do it right!

 

Here is a youtube that explains it very well a simple and good knot for you to start learning.

 

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How To Find Your Slow And Dead Stock In The Shop

POS SOFTWARE

This is a common problem in retail having:

Slow stock does sell but only slowly.

Dead stock does not sell at all.

Both cost money to the retailers, costs cash flow, money and takes up space that should have stock that sells better.

Now in identifying your products that are slow or dead go to register reports > stock titled "Old Stock on hand by Date last received"

I tend to do it in two parts. I check the overall problem in the shop to see the scale of the problem. Then I go by department in detail as its people find it better to examine this way.

This gives you a listing of your stock based on when you received it. This stock is rarely doing you much good. As I stated, it costs you to keep it.

Now once you identified it, what are you going to do about it?

I would suggest firstly move it because maybe it was in the wrong area. Good clean and a nice presentation can do wonder.

If your decision is to minimise your losses on this stock by slashing the price and to move the stock here are some options.

1) Offload them on sites such as eBay.

2) Use it to make a bundle. Put an old stock item that does not sell with something that does sell and turn it into a bundle.

3) Make a bargain bin.

4) Use the stock for your loyalty marketing program.

5) Use them as specials when you have a marketing season.

 

 

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Notes on how to improve the shop Layout and design

POS SOFTWARE

Planning the layout of your store is quite an art. This video may give you some tips on how to improve your shop layout and design.

One point here is that Australians shoppers do move clockwise. That is why when we set sales budgets in our POS software, we make the left side of the shop more than the right side. If you are not doing this now, I suggest that you start now doing that now.

Near the front counter, the items with the highest return on investment should be there. It is easy to get a list of these go to

Cash register report > GMROI (see the selection highlighted) in your point of sale software in the reports here.

 

Ignore departments and see what they are. Now see how you can use them at the counter.

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The Importance of accurately making a promotional KPI

POS SOFTWARE

 

Say your supplier decided to make a marketing promotion and asked you to take part. Our client said yes. They went through quite a bit of trouble, and now they want to know how well the promotion did. They do not see much, yet the supplier does. So we are helping out.

The problem here is that no-one before it started thought to make any KPI. So what happened is that the operator adjusted the price with a discount. As there are a lot of discounts, it is hard to determine whether it was a promotion sale or not. Usually what we could do here is to try to determine what the usual amount of discounts are but now who knows what is typical.

What it shows is that it is crucial if you are promoting to make a KPI policy before starting.

Otherwise, it can be hard to determine whether the offer worked.

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How to Pack a Gift Bag

POS SOFTWARE

This woman has good ideas about how to package a gift bag, these gift bags do sell well but only if they look nice.

Here is how to make it look nice.

 

 

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Free webinar on how to do social media marketing for free

POS SOFTWARE

Social media like Facebook is no longer optional with this pandemic. In the past, I have felt that it was an excellent way for small business owners to connect with their customers. Now its a necessity. People no longer just walk past your shop, see it and come in. The best, cheapest and possibly only way to communicate today to these people is online with social media. 

Here are some key statistics

  1. 85% of the eligible (age 13+) Australian population have active social media accounts, Source
  2. Australians spend an average of 1 hour 47 minutes per day on social media, and this has been increasing slowly over the past 8 years. Source

I have been doing it for years successfully, studied on it and here is my latest qualification.

 

I will do a webinar on the basics of how to market your shop free online in your marketspace if there is enough interest.

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You need to make a policy for tracking your retail promotions

POS SOFTWARE

This came up a few days ago, and what it has done is mucked up a shop's sales history file about profit.

Say the retail item cost is $10.00 and it costs you $5.00

What happens is you may decide to do a sales promotion in your shop, and it looks like this.

Here every pack sold means that each item sells at $6.66 and they cost you $5 each. So you have made $1.66 profit on each item. 

Now the retailers had some dead stock and wanted to get rid of some of it, so he introduces a new product into the mix. 

An item (B) that say also sells at $10.00 and costs them $5.00. I am trying to illustrate a point here. 

So your promotion offer now is a “buy this item and the other item free”. 

Now should your sales and profit figures be recorded in your POS system? 

Method (1) The first item at full price. 

So each pack means that you have sold each one of them for $10.00. Their cost is $5.00 thus giving you $5.00 profit on each one. Item (B) is considered being given away for free.

Or

Method (2) All the items considered sold at $6.66. 

They all have a cost of $5 each. So you have made $1.66 profit on each item. 

You need to decide. 

What has happened here is that as a shop did not make a policy. Some people rang it up using the method (1) and others used method (2). 

Now what is showing in history is a higher sales margin on one item then there should have been. 

You need consistency in tracking promotions if you wish to correlate your sales.

Make a policy first.

 

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What identifying your top selling items can do

POS SOFTWARE

Why identifying your top-selling items and you can do with this information!

Well, who knows what sells well today! It is all different then it was! With COVID-19, your experience now works against you.

What you need to do is look at today, see what worked and try to figure out why it worked. We can help you with this, and it is easy to do in our point-of-sale system.

Go to Register reports

 

 

Now select "Top N Stock Sales for a Given Period"

 

 

Now in the form put in yesterday.

 

Now a report comes out that looks like this with your top sellers listed.

Now, these need to be reviewed to see what you did right here. Take your time.

Now the kicker in retail is a top seller today will often be a good seller tomorrow. Studies show that a top seller today will sell about 66% tomorrow. So you need to check if you have adequate stock for tomorrow. If not in that spot you will need a substitute. 

Give this a shot and tell me how you went.

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Learning Social Media marketing

POS SOFTWARE

If you have not yet, look into using Social Media marketing!

Today more then ever, every business needs social media marketing. Few are going to walk past your shop now. So many of our clients now every day do something on their Facebook company page. It is their main communication method. Today in business using social marketing has never been more important. Vital, I would say.

No business can ignore social media as part of its marketing mix.

Checkout statistics for social media in Australia

"85% of the eligible (age 13+) Australian population have active social media accounts and spend an average of 1 hour 47 minutes per day on social media."

 

I was shocked a couple of days ago when a client asked us for help in setting up a Facebook page. We did help him out but now the problem is that he does not know how to use it. I told him, that he better learn. There is no excuse if he cannot do it get someone to help him. Then I gave him a few pointers. What I advised him was that there are plenty of good online courses, that he does not need to pay a cent for them, to learn.

The two courses that I suggested was

Facebook Blueprint

And if he wanted something more detailed, Hubspot was pretty good.

If you know something better please let me know.

The fact is that every serious business and organisation today needs a web presence. Today the web is the major means of communication between business and their clients.

So I recommend you go to Facebook now. See what a few similar businesses to yours are doing there now. Check the ones you like and take a few notes about what your business needs. Note the words they say. Presumably, they have experimented and found that these work for them so why not for you?

If you are not there, I recommend you go to Facebook, see what a few similar businesses to yours are doing on Facebook now. Check the ones you like and take a few notes about what your business needs. Note the words they say too. Presumably, they have experimented and found that these work.

Items like Facebook are mainly free.

You can always experiment later with the paid services.

 

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Why do Click and Collect if you have not done it yet

POS SOFTWARE

I have spoken about click and collect a few times here over the past years. 

If you have not already done so, this is why you should look at Click and Collect!

Near me is a small strip shopping centre. I walked down the shopping centre what I discovered that every single shop in my centre had a sign in their window advertising their click and collect service. Looking at the cars coming and going, I could see it was in use. Some of the shops, its the only business they can have. 

Now, this is not a notable centre. Although new it is ordinary with a range of shops having small to large retailers. Clients are not computer savage or sophisticated. 

Let me start by saying that our POS system makes it very easy for you to set up and do click and collect, more about that later. 

Here are some reasons why you should consider doing this if you have not already done so.

-Many people now do not want to come to your shop because of COVID-19. To service these people as a retailer, you now have to look at alternatives or lose these people.

- Here is a costing from the USA costing out the alternatives by options. If you go through the list, you can see significant operational costs savings compared to delivery by click and collect. 

 

-For many small retailers, delivery in Australia is not worth it. You need as a rule orders of about $100, to make it worthwhile delivering. 

-Click and collect is much faster. Your customers can have their goods often in minutes. 

-In the click and collect model, the customers come to the shop to collect their purchases. Many, studies state that between 49% to 61%, make new unplanned purchases. These are often impulsive or forgotten items. You are not going to get much of this business from a delivery model.

-People are comfortable buying on click and collect, as they know you. They know if anything goes wrong with their purchase, they can go to your shop immediately. 

My advice is to try click and collect and see what happens. You can make adjustments as you go on, if it does not work, you can stop it.

If so, you want to do it. 

You need to make a clear strategy for your program! Go out of your shop, see what others are doing, check out the opposition and make a plan. 

- Do you want to introduce a fee? Can you?

-What packaging are you going to use?

-Where is going to be your collection point?

- How will the customer warn you that they are here?

 etc. 

Now once you are on your trial. 

Advertise it boldly in your window! There is a question often raised did "A tree did not fall if no-one heard it!", if you do not advertise "Click and Collect" you do not have it.

This is how I recommend doing it in our software. I would suggest using business invoicing with an A4 receipt in the cash register. It is easy to do. 

Look for the item, to click and collected. 
Click on the "Receipts" button. 
Find the receipt you would like to print.
Then select the "A4 Print" button as here.
 

Out will come an A4 receipt:

As always, please let me know your thoughts and how it goes. 

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