Reinventing yourself to succeed
Posted on in Business News , Cycles News
The High Street isn't failing, it is buoyant and flourishing.
What is failing are the businesses without a plan, without innovation and without drive.
As businesses, you want to go back to the basics; product, price and people.
You want to reinvent yourself and your business through your people. People are the most important asset of a business.
Today:
- Drive commercial layout
- Drive innovation
- Drive a confident team
You want to drive sales through the shop floor layout, drive sales with an engaged team and drive your sales through innovation and new initiatives.
Drive commercial layout
Today's customer demands an exciting experience, they want to shop in an interesting environment that is memorable.
Visual merchandising is important, so start increasing your sales through improved £££ per square foot. Think about point of sale (POS)! Your shop's entrance should be a best seller or non-distressed offer. Your entrance should change every couple of days because it's what people notice first.
Footfall numbers in today's day and age aren't as important as conversion rates based on a target. Footfall is something you can only influence to an extent. Make targets, meet targets and then drive those targets higher and higher.
Drive innovation
Visual merchandising, hotspots, themes and focal points are your key to best sellers. There are key focal points around your stores so utilise them in the best way.
Drive a confident team
Your team is the most important asset to your business.
Give your team goals and reward their success.
Start small and think about bringing your sales up by 10-20% and grow from there.
You want to invest in your staff. That could be through ideas or incentives but get your staff out into the store rather than behind the till, engaging with customers about the products they are passionate about.
One of the biggest things that stores fall short on is the add-on sale. Start communicating with your customers, a lot of customers don't randomly wander into stores, they are there for a reason even if that reason is merely curiosity.
The add-on sale is a forgotten version of sales, every fifth person says yes. The add-on sale isn't about being pushy but rather about communicating and serving the customer.
You want to reinvent yourself and your business all the time.
This doesn't mean changing what you sell but changing how you sell