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Useful Business Information Articles for Retail and Hospitality Businesses |
Business Information Center |
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We are always editing and adding to our list of articles so check back often |
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10 Reasons to Automate Your Retail StoreBy Jake Stallwart Here's something to look for the next time you visit one of your local merchants such as a clothing store or sporting goods retailer: Check out the cash register. It may not be the old stereotypical, paper-based cash register we see in the movies. It may instead be a personal computer with special software known as "point-of-sale" technology. More and more retailers are switching from electronic cash registers or outmoded paper-based systems to PC-based solutions. Why? Because it gives them the ability to generate better revenues, increase productivity and, in the end, have more time in their personal lives for something besides work. Even if you're a retailer who's not yet sold on this idea, new point-of-sale (POS) solutions are worth checking out. They're affordable, user-friendly and can help you grow and take your business into the future. "More efficient, less sweaty" "Ten years ago, the price points [of high-tech solutions for small retail] were a concern," says Paula Rosenblum, research director for Boston-based AMR Research and a veteran of specialty retailing. "Today it's a different story; the price of hardware is more affordable, too. In many respects, it's all about sweat — how much of it do you want to put into your store? "Technology can empower small retailers, freeing them up from mundane chores such as managing inventory and accounting systems manually," says Rosenblum, whose father runs a small clothing store. "It can enable them to be a little more creative, a lot more efficient and a lot less sweaty."
Adds Jeff Roster, senior retail analyst at Gartner, whose brother runs a small meat market, "In any retailing format imaginable, you have competition coming at you — from Wal-Mart, Costco, whoever. So you'd better get a handle on what your organization can do, from an efficiency and customer management standpoint. Technology can help . . . even if you are the smallest of the small, and you do volume ordering, why not automate it?" Why not, indeed. Here are 10 reasons to automate your retail business.
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View Other Related Articles: 10 Reasons to Automate your Retail Store Ways to Get Foot Traffic Into Your Retail Store Seven Things Never To Tell Your Customers Harness the Sales Power of E-Mail Low Cost Ways to Market Your Business Half Dozen Ways to Get Your Customers E-mail addresses |
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Ways to get foot traffic to your retail storeBy Jeff Wuorio Computer mice may click, letters may be addressed and stamped, but there's still only one time-tested way to help ensure the success of your retail business. Get customers to walk through your front door. Driving foot traffic to a bricks-and-mortar store may seem something of a lost art, but it's no less critical to the health of your business than it ever has been. Here are seven tips to get your front door swinging.
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View Other Related Articles: 10 Reasons to Automate your Retail Store Ways to Get Foot Traffic Into Your Retail Store Seven Things Never To Tell Your Customers Harness the Sales Power of E-Mail |
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7 things never to tell your customersBy Jeff Wuorio Sometimes, it feels like I live in verbal snafu central — at least when I'm in earshot of some business owners. Recently, I stopped at a local hardware store for a new bolt for a wheelbarrow. The only metal pin they had was too long and a clerk gladly volunteered to cut it down to size. As he was sawing away, one of the owners waddled past, scowled and snapped: "Doesn't he have a hacksaw at home?" Granted, we've all been treated to these sorts of remarks, comments and faux pas at businesses of all types and sizes, but that doesn't mean we should. Here, based on my own stumbles down the rocky road of verbal miscues, is just a sampling of things that a client or customer should never, ever hear at your business:
1. "Why are you doing that for him?" This is pretty much what the hardware store owner's flip remark meant. It may seem ludicrous to say it, but service for a customer — be it run of the mill or beyond the call of duty — should never be questioned in front of the person with the credit card in hand. Not merely rude, but also indicative of a businessperson who either doesn't know what customer service is or doesn't give a hex nut whether her employees provide it or not.
2. "Are you sure you can afford this?" On a visit to a nearby greenhouse, a manager cajoled an employee to "make sure he knows how expensive that is" before she unraveled a roll of garden liner for me to inspect. That sort of remark effectively questions a customer's capacity to pay for a particular item, not to mention showcasing a laziness to display wares that may end up back on the shelf. That's not to say you shouldn't do customers the courtesy of letting them know something is expensive, but don't do it with the connotation that it's probably beyond their means.
"What an idiot that last guy was!" Said by one grocery clerk to another as I stood ready to pay for my kids' Cheez Poofies or some other such vile snack. Needless to say, not every client or customer is cherubic in word and deed, but commenting on them to another employee — or, even worse, a customer — is gossipy and grossly unprofessional. If you or any employee ever bad mouths a customer out loud, scarf down the nearest bag of Cheez Poofies. It'll likely never happen again.
"We don't have it." However succinct, this is a repeat offender, said most recently when I asked a pharmacy clerk if they carried a particular brand of toothpaste (after her four-word reply, the clerk stared past me glassy-eyed as though she were looking for ships on the horizon). Of course, businesses run out of stock or may not offer a certain service or item, but just hearing "no" or words to that effect is tantamount to adding "And stay out!" Don't leave things hanging like that. Instead, make sure you offer customers alternatives to what they want. You may be able to sell them on an equally useful substitute. You can even sow some goodwill by referring them to other stores or competitors.
"What a ______ name." (Choose "different," "funny," "unusual," "bizarre," etc.) Don't misunderstand me. I know I have a, shall we say, esoteric last name. But I don't adore the attention I get when an insipid nitwit callously editorializes about my family moniker. Not sensitive in the least. Not me. But not everyone is as thick-skinned, so make it a policy never to remark on a customer's name, as even well-intentioned curiosity may come across inappropriately. Instead, it's far more politic to ask how a person's name is pronounced correctly.
"I haven't a clue about what I'm talking about, but I'll ramble on regardless." This is the Brand X version of any number of ill-conceived remarks, ranging from the bank clerk who loudly gives a customer her mutual fund recommendations ("I hear you can make money in them!") to the doctor's office receptionist who tells a patient that she may need a biopsy. Don't strangle your employees' eagerness to help clients and customers, but urge them to stick to topics and advice with which they're familiar. And, if they don't know something, make certain they refer customers to an employee who does.
"I haven't a clue about what I'm talking about, but I'll ramble on regardless." This is the Brand X version of any number of ill-conceived remarks, ranging from the bank clerk who loudly gives a customer her mutual fund recommendations ("I hear you can make money in them!") to the doctor's office receptionist who tells a patient that she may need a biopsy. Don't strangle your employees' eagerness to help clients and customers, but urge them to stick to topics and advice with which they're familiar. And, if they don't know something, make certain they refer customers to an employee who does.
"I only work here." This cliché — most recently uttered to me by a waitress after the wrong meal was delivered for the third time — should be forever buried beside zoot suits, no-pest strips and other Byzantine relics of the past. In four wretched words, an employee conveys a complete absence of enthusiasm or involvement, let alone a willingness to address a problem. Instead, make certain your people know that there's likely someone else available who can tackle something that is beyond their means.
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View Other Related Articles: 10 Reasons to Automate your Retail Store Ways to Get Foot Traffic Into Your Retail Store Seven Things Never To Tell Your Customers Harness the Sales Power of E-Mail |
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Harness the sales power of e-mailBy Joanna L. Krotz
Got a couple hundred bucks? That's about all you need to send 1,000 highly personalized e-mail messages to specially selected customers. And that's both the good news and the bad. When done right, e-mail marketing is not only breathtakingly affordable but also extremely effective. Depending on how you plan to measure (by opened messages, click-throughs or conversion rates) and your targets (whether new, existing or best customers), e-mail marketing can yield response rates that range from a satisfying 5% to a heady 50%. But the cheap cost of entry has generated a sea of spam and that's obviously made consumers wary and annoyed. You must make sure to gain opt-in commitments from your prospects or customers before sending any e-mail marketing. That can be in the form of online registration, prior contact or express emailed permission from each recipient. With that in mind, here's how to launch an e-mail campaign. 1. Define Your Goals No marketing can succeed with an unlimited or shifting horizon. You must set goals that define your success. For e-mail marketing, campaigns tend to get better results when there's a clear call to action, perhaps with the added urgency of a time-sensitive window. Typically, e-mail marketing can:
At the outset, carefully define what you want from the campaign. Then focus on the messaging and distribution that will achieve it. 2. Connect with Customers Different designs and messages will yield different results. The idea is to customize batches of messages in order to emphasize benefits that speak to specific customer needs. Electronic tools make it much easier to segment customers and sales leads according to key characteristics. You can quickly group customers into byte-size market chunks of similar demographics, purchasing history or other qualifiers by using a business contact management software such as ACT!, Goldmine or the new software as a service SAS, salesforce.com 3. Manage the List If you're developing your own campaign, first create your mailing list. Then select the style of your e-mail publication. You can avoid hassles by relying on the free (for up to 250 emails) and fee based internet service, internetemailmanager.com to help make the process easier and more cost-effective. This service creates and sends out your e-mail campaign and then automatically tracks your opened and click-through rates, as well as any opt-out customers. Industry analysts, such as Jupiter Research, estimate that the cost of e-mails that are sent but not delivered will nearly double from $230 million in 2003 to $419 million in 2008. That kind of forecast prompts many business owners to rely on outside experts to distribute and measure delivery rates. Don't forget to keep updating customer information. When a new customer contacts you, create an entry for them in Business Contact Manager. Business Contact Manager enables you to consolidate all interactions with a given customer in the Contact History section, including e-mails, tasks, appointments, notes, and documents. If you send out your e-mail campaign to your Business Contacts in Business Contact Manager, this activity will be captured automatically in each recipient's Contact History. 4. Personalize. Personalize. Personalize. Recipients more readily sign up for e-mail marketing when offered a prize, entry in a sweepstakes or the like. They're also more inclined to register and input personal data when they're already customers of the sponsoring company. So the more you reward customers for giving you access to personal information and the more familiar they are with your products or brand, the better your responses tend to be. To get customer buy in, try using name-personalization messages. Make sure you test several subject lines, and message copy and landing pages before the launch. If you want to use attention-grabbers like video or animation or audio, costs will rise. But you can still do quite a lot with text and links to a Web site or special landing pages. Some message dos and don'ts:
Finally, support your campaign. Don't simply send out your messages and sit back. Plan specific follow up, say, by sending automated bounce-back replies or by integrating the e-mail campaign with other channels, such as phone calls or direct mail. The last thing you want to do generate customer interest and then be unprepared to act on it.
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Half Dozen ways to get customers' e-mail addresses (legitimately)By Monte Enbysk If you're like most small-business owners, you need a generous supply of potential customers' names and e-mail addresses to effectively market your offerings online. The good news is you don't have to deceive or spam people into getting them. The bad news is that too many others have already taken that route, giving online marketing a shady reputation. Unlike the offline world, where consumers get junk mail daily and simply toss it into the recycling bin, unwanted e-mail messages offend people and trigger nasty replies. People are more protective than ever of their e-mail addresses. "Spammers have made it bad for the rest of us," says Derek Scruggs, founder of Escalan.com, a Boulder, Colo.-based marketing consultant. So you shouldn't be one yourself; there are enough already out there. Scruggs is an expert on permission-based e-mail marketing, and has written a separate article for Microsoft Small Business, "10 rules for successful permission-based e-mail marketing," which I refer to in this article. So, after following Scruggs' permission-based rules, how do you build your database of names and e-mail addresses? Here are a bakers half dozen (seven) tips to consider:
Alas, you still may be tempted to buy or rent that cheap list of names of people who haven't given their permission to be e-mailed. Resist. Think about the junk that comes into your inbox -- and whether your business should be regarded that way. |
View Other Related Articles: 10 Reasons to Automate your Retail Store Ways to Get Foot Traffic Into Your Retail Store Seven Things Never To Tell Your Customers Harness the Sales Power of E-Mail |
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CPA leaves number crunching to others to start ice cream shop Nashville Business Journal
That's certainly part of Michael Duguay's business story, an adventure that started five years ago when he left a predictable life in Michigan to open an ice cream shop amidst the honky tonks and souvenir shops of downtown Nashville . Taking big chances was never a part of Duguay's life on Michigan 's scenic Upper Peninsula , where he worked as a certified public accountant and assistant school superintendent. His destiny was altered by three factors : a life-long love affair with ice cream, a passion for country music and the lure of what Duguay calls a "perfect untapped opportunity." He got the idea for Mike's Ice Cream Fountain when he visited CMA's FanFare festival at the Tennessee Titan's stadium several years ago. "I'd never seen a tourist city that didn't have an ice cream shop," Duguay says. Surprising his family and friends - even himself - Duguay started jumping the hurdles to open his first business 700 miles from the forests and rivers of Northern Michigan . Before he knew it he had signed a commercial lease for space at 208 Broadway, tapped into life savings and chalked up some credit card debt. Not exactly normal behavior for a cautious accountant. "I'm pretty risk adverse," Duguay says. "But you don't know when your opportunities are going to come. You can't always be conservative." Reaching break-even and making a profit happened quickly. The first year of business at Mike's Ice Cream Fountain yielded about $239,000 in gross revenues. Business has increased at a rate of about 25 percent a year since, Duguay says. Having a strong background as a level-headed accountant has helped the business stay in the black. "I had already explored the best and the worst accounting and point-of-sale systems," Duguay says. "I'm sure it's helped me." Soon after opening Mike's Ice Cream, Duguay began to think about how to grow his business. By his second year of scooping ice cream, he was doing well enough to buy Just Java , a nearby coffee shop on Second Avenue downtown. He viewed the purchase as strategic on two counts. First, he needed to add another item to his offerings besides ice cream. Second, he'd be eliminating a competitor. The owner of Just Java, Joanie Gadler, a well-known local personality also known as "Java Joanie," came along with the deal. She now works for Duguay. Gadler says Duguay's idea to combine coffee and ice cream on a tourist strip that had neither was brilliant. "He's just very, very smart," Gadler says. "In the morning the coffee is more popular than the ice cream and in the afternoon the ice cream is more popular than the coffee." Duguay is making new moves, one that he compares to the first bold move he took five years ago when he moved to town to start Mike's Ice Cream. He just purchased Sip , an East Nashville coffeehouse and is expanding his small ice cream production facility so that he can add more homemade flavors. Sip and Mike's Ice Cream's production operations are both in Riverside Village , a revitalized neighborhood center in Inglewood . Dan Heller, the prime developer of that area, says he thinks adding ice cream to the mix will be good for the small business district. "Ice cream has a magical effect on an area, especially when it's homemade," Heller says. "Plus, I think Mike really knows what he's doing. He's very methodical and determined." The menu at Mike's Ice Cream is a combination of Purity flavors and Duguay's concoctions. He plans to embellish the homemade flavors with Tennessee brands and products to give the business more individuality. The move into manufacturing his own flavors on a small scale required substantial research, education and investment. Although declining to say just how much money the expansion is requiring, Duguay says he's "going in deep." When you're ready to make your move you have to commit to it 100 percent," he says. "You really can't be so conservative that you don't continue to evolve and improve." |
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