Is your Business Bleeding Big Profits?

Each day thousands of euro is potentially being leaked by the way in which staff handle inbound calls to your business.
Leaking profits can be the difference between being 50k out of pocket, paying staff wages, electricity bills etc and all it really takes is a little time and thought to block up the leaks and ensure you’re getting maximum results as best as is possible.
Let’s try this scenario:

A customer rings in to ask if you have any rawl plugs in stock – the staff member, who perhaps is having a bad day says “sure – there’s plenty”.
Great – so your customer heads in to pick them up, only to discover there are none left and they’re on back order!
You’ve now got a disgruntled customer who you’ll probably lose business with for the time being.
This has personally happened to me when I was looking for a particular book which had just been released. I was assured immediately on the phone that there were dozens in stock. When I arrived half an hour later there were none.
So one tip you, as a business owner, can employ is to occasionally phone into your business – or better yet get someone else to do it for you.
Before calling it’s best to set the scene.

This is how it’s done:
Find a product on your shelf that is over €100 and there’s only one left, or make it so there’s one left.
Next work out who is going to be on the phones when you are ringing – if there is going to be one or two manning the phones then make sure when you call you get their name which will aid you with your follow-up later on.

Ok – so let’s walk through this:
You (or someone you are working with) phones into the business.
“Hi, I’m looking for a pump for a fishpond that can handle 7000 litres per hour. I was in last week and noticed you had some for €499. Are there any left in stock”

Sales rep: “Yes, we have several in stock.”
You “Well, I need two of them and will pick them up today – are they definitely there?”
Sales rep” Yep, I saw them there earlier I know that there are some left”
You “great I will pick them up in an hour. What’s your name?”

Etc.

So if the sales rep doesn’t go to investigate this to ensure there are two left, then this customer is going to be furious after coming all the way in to pick them up. Let’s be realistic, the chances of someone coming in to buy two pumps before you go in is very unlikely. Besides, you know there is only one left as you removed the rest of them out the back.

These types of scenarios go on each and every day. It takes very little time to walk over and check the shelves to ensure the customer can make the purchase. Plug up those leaks!
Now you know that perhaps some training is needed to ensure that your staff does check that products are available.
You could trial cordless phones for a month. This way when a customer phones in the sales rep can “walk and talk” the customer over to the shelf, confirm they are in stock, ask them would they like it put aside, and then have the opportunity to say something like “we also have some pond cleaner liquid here too. Will you need some of that also?”

Remember without customers you won’t be in business. There’s no point in having them come in the door if they can’t buy anything from you!

Date : 02.03.2010 No Comments »

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