Three things to do this month to improve your retail business.
Focusing on these three measurable can improve your retail business. If you are already doing these, then give yourself a high five!
Survey your customers
Honest feedback from your customers is a great way to move forward. While it may be difficult to get a response for free, a small prize can sometimes be enough to motivate!
There are many survey engines on the internet. We use SurveyMonkey, which has a free package that works really well.
Call our support team, and we can add the survey address you create to your receipts.
Understand the cost of client acquisition
One of the hardest things to measure is the amount of money you need to spend to get a new client. Once you have the new client, for every dollar spent on that client, how much will you make?
Both of these values can be tracked by using flags on your receipts to record how a new customer has heard from you, and that they are a new customer. You can then report on your different methods of customer acquisition, and focus on the best one.
Call our support team to help get you started.
Make yourself hard to follow
Zig when others zag. Give away something free to a random Facebook post on your company site. Announce a new charity affiliation, and promise a small matching bonus (I like Heifer International).
If you are in retail clothing, do a makeover for a teacher or student in a school. If you sell hard goods, sponsor someone with your goods. You would be surprised what a small sponsorship can do!
Co-op your store with another store, and cross promote yourself!
Start a small scholarship for fashion or design at a local school.
In summary, do something that will make others go “I wish I thought of that!”
Shawn Dillon is the Chief Technical Officer at CRS. He has been involved in hundreds of retail installations and has worked in the IT industry for over 20 years, with independent companies as well as government agencies.