Building a better Brick-and-Mortar with the Billion-dollar Web
More than $117 billion passed hands from Internet shoppers to Internet vendors in 2004, according to the statistical research firm comScore. That’s billion, with a B. Compared to the year before, the figure represents a whopping 24 percent increase in sales. Compared to the early 1990s, when the Web was a questionable commercial venture, today’s $117 billion is proof-positive that the Web is the full-fledged money-making machine.
Retail Executive Dashboard Does Not Serve Front Line Sales Managers
Retail Dashboards are pictures of spreadsheets used by executive managers to visually identify around five key performance indicators. Dashboards have gauges, like the speedometer in a car, and graphs and colour, to draw attention to areas of strong and weak performance of each retail store and the organisation as a whole. They may display: sales per hour, items per sale, average sale, conversion rate, and wage to sales ratio – at the store, regional, and national level.
T…
Retail Management – Identifying Each Salesperson’s Lowest KPI Can Boost Sales By 30%
Stick with me here for minute – its not hard math.
There are five retail KPI’s worth tracking at the individual Salesperson level: Sales per hour; items per sale; average sale; conversion rate; wage to sales ratio.
If you add them all up (individually) and divide by the number of staff you get the ‘store average’ of each KPI.
You can now compare each Salesperson’s five KPI’s to the ‘store average KPI’ instantly revealing the MOST deficient statistic or undersupplied …
Retail Performance Best Practice Now In Reach Of Single Store Operators
In recent years, with the aid of sophisticated information technologies, multi-store retailers have developed a science out of Retail Performance Best Practices by putting into play real-time systems for recording and measuring performance KPIs at all levels of the organisation.
So sophisticated are these systems that they are able to tell employees, even at the operational level, exactly how they are standing up to the company’s vision, plans and objectives.
Using bala…
Scheduling Retail Employees
Scheduling my team has always been one of my least favorite tasks as a retail manager. It’s tedious, it takes hours and even when I think I have it right, I probably don’t. What makes scheduling a challenge is that you are balancing the demands of individuals on your team with the demands of your business. This can be a very time consuming and frustrating.
Lets say you complete a schedule which took you 2 hours to create. You have carefully made sure everyone has at least…
Building A Financial Services Sales Culture
Examples of how banks have built new sales cultures successfully, resulting in significant new customers and business. Underscores with real life examples the importance of sales skills training connected to sales coaching for a period of time.
Does Your Customer Service Suck?
As a customer, I know what it’s like to be on the customers side of the counter. You want to turn over your hard earned money for goods or services. You are then confronted with attitude, rudeness and utter disregard for just how hard you have worked for your dollar. Either the service is slow and the quality of the goods are poor, or worse the company you are patronizing rigidly enforces poor policies for handling customer issues.
As a business owner I realize the cost of…
The Golden Rule of Customer Service
Can the simplest life lessons apply to our sales careers?
The Pretty Woman Theory
Each initial contact we make with a prospective customer can make or break not only that sale, but potentially dozens more.
Buying Wholesale – For Consumers And Retailers Alike
Thousands of individuals earn an income by selling online through various websites such as eBay or Amazon.com. Buying products wholesale and reselling for profits is enabling an increasing number of people around the world to become self-employed. Alternatively, consumers may buy direct from wholesale sources in order to save money on their general purchases. With the upcoming holiday season, shoppers will be searching for the best deals and biggest discounts. The best discou…