As a merchant or a person acquainted with ecommerce, you might have heard such terms as “cross selling” and “upselling”. But if you think these are some sort of sophisticated novelties – they are not. These techniques have been used by many generations of traditional retailers and are still considered to be the keys to profit generation.
Are you a retailer (or retail sales associate) who’s struggling with how to approach shoppers? Worried that you lack the magic touch, or that you’ll come off as an annoying salesperson? Would you rather be awkwardly staring at your store’s point of sale software screen than actually talking to the customer in front of you?
The beginning of a relationship is always the best. You laugh at each other’s jokes, you look forward to every phone call, and you truly enjoy getting to know one another.
This guest blog is by Tim Campbell, the first winner of BBC TV’s The Apprentice and co-founder of the Bright Ideas Trust, a charity that helps people start their own businesses.
What ‘simple things’ can you do to improve sales?
Regardless of what is going on in the economy there are always simple things many businesses can use to improve their sales and profits.
Sometimes making more sales is as simple as talking to more potential customers about what you sell.
You offer a valuable service, a skill set or a must-have product. Whatever your business, your customers obviously turn to you for a reason. And when it comes to sharing a little knowledge, your customers will be ready and waiting to read something from you, in your own voice.
Back in the day, retail pricing was relatively straightforward. Customers would walk into a store, browse products, look at their price tags, and if they like what they see, they would move on to checkout.
When deciding how to price your products, you need to understand how – and where – your business fits into the economy.
In the past, having honest scales were key to doing good business. Today, for many service-based businesses, our scales are our timesheets. Keeping our timesheets honest is not only good for our customers, but necessary to grow your business.
A popular topic these days is how to hire the perfect candidate for your business. Many industries seem to be suffering from a candidate shortage. When you can’t hire a quality candidate with a lot of experience, the focus quickly turns to hiring people straight out of school. So, how do you identify the diamonds in the rough? How can you give them what they need to grow and turn them into the best they can be?
Making your office a little greener is not just a great way to do your bit towards a healthier and more sustainable planet, it can also give your business a point of differentiation, while also helping your bottom line.
Job Management Software is a new market. Anyone using it is ahead of the game. Those that have adopted it name three key reasons for abandoning their old ways. ‘ Needless extra admin’, ‘Scheduling the workforce was painful’ and ‘We have had poor visibility of job progress’ are the top three.
A cloud inventory solution is one of the most important tools for an ecommerce business. Cloud inventory is the core of your operations, providing the infrastructure and technology needed to manage goods. There are many great cloud solutions which integrate with multiple marketplaces, shopping carts, and accounting platforms.
The government has high hopes for Australian small businesses and is banking on them to boost the country’s economic growth over the next few years.
One of the many things I love about working at Xero is how we can spot a gap in the market and work at #xerospeed to create a solution. It’s not only a buzz to see it happen, it’s also great for our customers – and rewarding for the people who work on the project, too.
It’s no question that data is a godsend for many retailers. Analytics can help you get to know your business better and can enable you spot trends, identify problems, and plan for the future. Data also empowers you to make more reliable decisions in just about every area of your business, including sales, inventory, staffing, and more.
Since the shock of the GFC, Australians have been focussing on paying off their debts (particularly their home loans) as a strategy to increase their financial security. This strategy has been assisted by the falling interest rates where borrowers have kept their repayments at the original level.
The topic dominating the news over the last week has undoubtedly been the release of the Federal Government’s budget for 2015/16. This annual event always provides commentators with plenty of material to clog our airways and newspapers as each one presents the view of their respective special interest sector.
Everyone loves a tax deduction. Some people love them so much they’ll spend a dollar needlessly because it’s a tax deduction and the tax man will give them 32 cents back! But that’s a topic for another day.
I don’t have time to watch much television. However I must admit that I find Shark Tank to be a fascinating insight into the interaction of what I regard as the 4 main value propositions anyone can bring to the market. The critical 4 are Seed, Deed, Need and Greed.
If you are unfamiliar with the program, a brief explanation is speed-dating for real entrepreneurs (who have money) and budding entrepreneurs (who need money). Although it is a contrived market, it offers life lessons for everyone.
As we rush towards the start of a new financial year, business owners need to take time to review the marketing efforts of their businesses over the last 12 months and to formulate a comprehensive marketing plan for the next year.
In case you didn’t notice, two important events occurred over the weekend – the official end of daylight saving in the misguided states and the official START of the TAX PLANNING season everywhere.
The post cyclone carnage in our business community is starting to match the devastation suffered by the region’s trees during the height of the cyclone. Just like the trees, very few businesses have escaped the aftermath unscathed.
In the desktop world that we are rapidly leaving behind, updates are infrequent and painful. If there was something you didn’t like or didn’t quite work in your accounting software it could be years before you got a fix for it.
What’s the word customers most use to describe your brand? Don’t do any fancy research or hire any consultants. Just go listen. Listen with an ear to the words they use in the first sentence. Then keep score.
There is no question that an IP strategy should be aligned with business strategy.
But, what needs to be better recognised is that IP issues can actually drive most strategic considerations in an organisation
Do you know who an incredible advocate for hard work was? Mary Poppins.
If there was an option to make things easier for yourselves…would you take it?
Inventory management can be hard for any business to do well. Whether you're in manufacturing or retail, your business can suffer if you have too little stock – or too much. Here's how to get it right.
Busy offices can generate a lot of paperwork. But too much paper can reduce the efficiency of your business – and cost you money. So what steps can you take to cut the amount of paper your business uses?
We understand that SEO can be a bit of a mysterious beast. So we reached out to our friends from Alpha Digital, to share some of their best practice tips to help you make your product descriptions SEO friendly.
Women all over the world are becoming entrepreneurs and building successful businesses. What lessons can they teach the rest of us? Here, seven famous female entrepreneurs share their tips for success.
Human beings are overwhelmingly visual. How could I say that? 90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. Why are high-quality photos important for online retail?
There a simple creative thinking system that you might like to use to increase your sales fast. It’s called the 20 idea method.
What is your ‘Unfair Marketing Advantage Strategy’ going to be for the next 12 months?
In other words, what will you change (or do differently) so you get much better business results in the next 12 months with a lot less effort?
Successful agencies are constantly on the hunt to attract and retain top talent through recruiting and networking. But making a hiring decision isn’t easy, and it’s important to hire the right person—the first time around.
Agency-life can be a whirlwind. With client requests, impromptu projects, and ever-looming deadlines, simply retaining your sanity can be tough. But all hope is not lost.
Getting organized is the second most popular New Year’s resolution, according to a study conducted by the University of Scranton. Are you still sticking to yours?
Do employers have to pay annual leave loading to employees on termination?
In all fields of human endeavour, the most successful will almost always have one thing in common – passion. For anyone who wants to achieve a goal, being passionate about its achievement will ensure that your chances of success are vastly improved.
Of course, passion alone is not enough to be successful. You need to plan and evaluate carefully, implement efficiently and operate effectively as well, but doing all those with passion will ensure your project reaches the desired conclusion.
Do you know why your customers are your customers? Do you really understand why they buy from you? Knowing the answers to these two questions could make a world of difference to the success of your business.
This is a good time of year to review various parts of your business. Payroll is sometimes neglected in reviews, yet it's an important topic. So here's how to make payroll work perfectly for you this year.
Often it’s easy to get stuck in a rut. You begin to doubt yourself and your ability to perform your job at a level that you see fit. But you know what? It’s okay.
We all know the colleagues we love working with every day. They usually have a few common characteristics, including…
When Heraclitus said “the only thing constant is change” in the 5th century BC, he probably didn’t have the internet in mind, but his words couldn’t apply more closely to any other field than to this one.
No industry is exempt from change. Change is inevitable. It affects everyone within a business, from the CEO and director through to front line employees. It’s important to keep in mind the implications of change that can occur if it isn’t managed appropriately.
If you're running a small business - and there are nearly 30 million of you in the U.S. alone - then you know the old adage rings true: Time really is money.
Change. Whether you’re someone who welcomes it with open arms, or you’re the type who tries to maintain the status quo as long as possible, change is inescapable. As the cliché goes, change the only constant thing in the world. And in retail, this statement couldn’t be more true, especially in the last few years!
Cashflow management is vital for a growing business. We spoke to Ed Castaño of BlueVine, a provider of working capital to small businesses, to find out how to manage cashflow. Here are his thoughts.
Small businesses win work by using sales quotes (also known as price quotes). Yet they often don’t realise that how they prepare and create quotes can cost them business. Many lose revenue by not following up on quotes or turning quotes around fast enough.
Over the last five years, blogging for business has become an industry unto itself. With numerous companies all over the world vying for the top talent and the most pageviews, it’s no surprise that the top business blogs are those which can adapt and respond to the changing landscape of the digital world.
From cupcake-crazy home bakers to fitness addicts and artistic dreamers, more and more entrepreneurial Britons are turning passions and pastimes into money-making enterprises. In fact, latest studies show there are 600,000 more micro businesses in the UK today than there were during the onset of the financial crisis in 2008*.
Rust never sleeps’ was supposedly the tagline for a 1970s advertising campaign for a rust-inhibitor product called Rustoleum. Although the phrase found far more traction as an album title for legendary Canadian rocker Neil Young, it resonates with us here at Debtor Daddy because it echoes one of our favourite sayings that “Debt never sleeps”.
What do modern customers expect from retailers? How can you increase revenues per transaction? How can you ramp up word-of-mouth for your business? Our latest retail roundup answers these questions and then some.
We live in a globally connected, digital economy. In this world the all-pervasive force is data. So much so that is has become to the digital economy, what oil was to the industrial. There has never been a better time to use data to drive your business performance.
The ATO app puts tax and super help in your hand, making it easier for you to conduct your tax and super affairs on the go.
If you pay for a website for your business, here are some things to remember about claiming the costs…
Starting a business is a big decision, and needs careful research and planning well before you start trading.
In a world of large players, naturally many smaller organisations cannot compete directly with the resources of larger ones. So innovative companies need to know the landscape, be nimble and targeted in their approach, and recognise when it could be more useful to sell intellectual property rather than commercialise it themselves.
And another one bites the dust!
2014 was characterised by the effects of the downturn in the mining industry, the local property industry flat-lining, puzzling political decisions and a lingering hangover from the GFC.
Your website or LinkedIn profile will often be the first thing about your company that a prospective client sees, and as we all know, you only get one chance to make a good first impression.
There’s some truth to the saying “You have to spend money to make money.” When you’re running a business, shelling out without seeing an immediate return is part of the territory.
No matter what products or services they produce, businesses need two essential things to succeed: employees and customers.
I’m sure we all remember using acrostic poems growing up. This week we’ve chosen to discuss the topic of customers in acrostic form!
As an agency working with brands to create engaging marketing and digital content campaigns, it’s important to keep up-to-date with the trends in the market.
Is THIS the year that you are going to concentrate on your inbound marketing and commit to creating a blog that generates results for your business? Great news!
In the race to attract the best staff, and always have a talent pool ready to fill any immediate gaps at short notice, more employers are turning to non-traditional recruitment channels, using social media.
Take a moment to imagine you’ve been given the task of being a mystery shopper for one night. Your job is to go in and assess multiple aspects of a venue: its employees, its food and beverage, the decor, the atmosphere – the works.
The Government’s campaign for health and safety reform has made it clear that there is an increased focus on high risk industries such as forestry, agriculture, manufacturing and construction.
Xero accounting software is designed to revolutionise the way small businesses manage their finances.
In 10 years, my business will be out of business.
That’s the view of a recent article in The Financial Review which suggested that 500,000 white collar jobs (including accountants and financial planners) would be replaced by automation/technology/robots by 2025.
The level of employee retention within a business is always a good testament to the management team.
Receipt Bank allows you to add in details of your bank accounts and payment methods in order to help us categorise your receipts and invoices even more efficiently!
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