Point of Sale Software

Here are some Articles from the Blog Subject - marketing -

Telco recharge benchmarked Nov 2018

POS SOFTWARE

Lightboxes

Telco recharge is very easy to install and sell in our point of sale software, and it has become for many of our clients' a major line. Many of our clients, do offer it as a service at their shops. 

The big plus is that it brings people into the shop as the amount of work involved is almost zero, and there is nothing upfront — all it is on the register another button.

Here are some benchmarked figures all based on average values.

This is a graph over two years for the average number of transactions per month.

Transactions per shop over two years

As you can see, there was a drop last year but it seems to have stabilised. Much of this drop, I am sure is due to the reduction in working hours that some of our clients did in 2017, but some is a drop in sales in the market. What we think is happening is that as Telcos are offering better deals to those people buying these products, they need to buy less as what they have lasts longer. Interestingly though the average unit price sold has gone up.

Still, overall it works out to 3 to 4 transactions a working day.  Which is lovely, as who can complain about 3 to 4 extra customers a day in the shop? Plus you get access to free promotions.

The profit itself on a sale is primarily determined by sale number, and this has only very slightly gone up in the past two years. It is now about $1.14 a transaction.

Margin per sale average over two years

Effectively what it works out too is you press a button in your POS system, collect some money, and you make a $1.14 and maybe that customer will buy something else too.

If you want to know more about it, please contact us.

 

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Automating your VIP club today

POS SOFTWARE

Do yourself a favour, while you are trying to collect customers email addresses, try and lose the manual process of asking people for the address and filling it in manually. Set it up on the net, a collection form and let your customers fill it in. 

If you are using an email marketing software, like MailChimp which we link into it has built in such a form.

On your website, if you have one make sure that it has such an opt-in email form.

Now the idea is to use it everywhere to build up your email list.

 

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The years 10 busiest shopping days are here

POS SOFTWARE

Studies in the US, which I believe are valid here, show that 45% of all shopping traffic in brick-and-mortar shops during the Christmas season occurs in the following ten days. 

  1. Friday, November 23 – Black Friday (Today - Less important than in the US but rapidly growing)
  2. Saturday, November 24
  3. Saturday, December 1
  4. Saturday, December 8
  5. Saturday, December 15
  6. Friday, December 21
  7. Saturday, December 22 – Super Saturday
  8. Sunday, December 23
  9. Wednesday, December 26
  10. Saturday, December 29

Peak shopper times are between 2:00 p.m. and 4:00 p.m.

 

Looking at the list, it seems like much Saturday work is coming up.

These days, you need to plan and have your rosters, stock and signage right.

Warning

It is also a good idea to have someone special do security on those days; I believe that many of the security problems in retail can be solved by having a grandmother greet everyone who comes into the shop.

 

 

 

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Top customers by visits

POS SOFTWARE

In retail getting customers to come more often to the shop is vital.

Questions:

Why do some customers come often and others do not?

Have you thought about this tried to figure out why some come a lot?

If you know, maybe you can use this information to get more people to come to your shop. Well, let us do that!

In your point of sale software and go into register reports>customers

There you will find a report "Top customers"

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Now click on that report (see the arrow in green)

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Now put in the dates you are looking at, I suggest at least a year and if you like a minimum spend.

See where the green arrow is highlighting. Change the sort order by visits.

This will give you a report with a grouping of your customers based on how often they buy from you. Now chew over why these people are coming, what are you doing right to get them to come?

 

Now let’s dig deeper

There are many other orders e.g. a listing by people that buy a lot you can use in this report, all which have their own story too. So there is plenty to chew over here.

 

 

 

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Black Friday

POS SOFTWARE

Black Friday is considered to be the official start the Christmas shopping retail season. In the US it is one of the busiest retail days of the year. Its importance in Australia is growing as you can see here.

Black Friday on Google Trends 2018

There is every indication that this year will exceed last year so almost all significant retailers Australia are doing something by offering the public some good specials and most will have extended trading hours to take advantage of the increased traffic on that day.

Also what we are seeing is the marketing groups are pushing their members for submissions for the day.

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If you are part of Zip, you need to have your submissions in by this Friday, 9 November. One advantage of Zip as a marketing group is that its membership is free.

Note I would not worry about Cyber Monday, it is more for software companies like us in Australia, rather retailers.

If you have not done anything yet, I do suggest that you do give serious thought about doing something at least put a few signs up and put something on your receipts. 

 

 

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Make an event - marketing tip

POS SOFTWARE

Cosmopolitan magazine

I was stunned when I was informed today that Bauer Media is cutting Cosmopolitan Australia in December, as commercially it is no longer viable. In the process another eleven jobs have are gone, and another restructuring and centralisation are underway.

This magazine was an icon, and many will have many good memories of this product so why not make an event if you sell a product like this to get people to come into the store for an impulsive purchase of the last couple of editions.  While supplies last, the final edition, get your copy... collector's item (which I am sure it will be) ... 

Maybe when they come into the shop to buy this product, they will buy more too? All you need to try it is a small sign on the window to make an event.

 

 

 

 

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International Coffee Day

POS SOFTWARE

International Coffee Day

 

If you are interested in some marketing idea for today, what about trying to market coffee today as today is the International Coffee Day? It should be good for a few sales. 

Such things are easy to set up in your receipts in your POS system. If you have a VIP club it is easy to send email newsletters out.

International Coffee Day 2018, celebrates the most popular drink in the world. According to recent research, it is good for you too.

An example of how these marketing days are good for business.

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WARNING ON YOUR FACEBOOK BUSINESS PAGE

Facebook point of sale

You have a Facebook page for your business!

The way Facebook works is that the business pages are connected to the person who created it. So if you got someone to make you a facebook page for your business, that Facebook page is linked to their account, it is their property. Now say they leave your business, there can be problems as even if the person gives you admin access to that page, as it is still technically connected to and owned by them. In today's case, the separation has not been a happy one, and they refuse to even talk to the owner of the business.

The only way around this if they wish to continue with Facebook is to start a new page and start again. They then have to report to Facebook that the old one is impersonating the business which is messy as I am sure that Facebook does not want to get involved in disputes regarding the admin position of this page.

If you have such a Facebook page now, make sure that it is linked to your account. Also, consider giving someone else your passwords just in case something happens to you, and so the business can still use its Facebook page. If you are reluctant for some reason to do this, consider setting up a “legacy contract” for that someone who will take over an account is for some reason you cannot.

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PERSONALISED OFFERS

VIP program

 

Some people to buy your products need a kick; some come anyway. A straight 10% discount offer as such is often killing your margins.

If you get an exciting product, this has proven to be a successful method. What you need is your retail email mailing list and point of sale system like ours that can handle VIP marketing.

Firstly send everyone out an email with an offer for the goods. Hey, we just have now this XYZ product.

Those that did buy send them shortly afterwards an offer to buy a second one at say 5% off. See how you go, if they liked one then they may want another.

Awhile later those that did not respond at all, send them an email with a 10% off 

If you are still stuck with stock after a while, well you have nothing to lose by offering 20% off to all.

See if you can do something similar in your business.

The idea being Instead of giving a straight discount, going through the previous purchase histories of your customers and then personalise your offers.

It will help you maximise your margins

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How to celebrate your customer's birthdays

POS SOFTWARE

Every one of us comes to our birthday gets heaps of organisations offering us something to buy with them. The reason why is because nothing else seems to bring people in like a birthday offer. Here is a screenshot of a study.

 

According to the study, 51 percent of consumers do feel special if a retailer acknowledges their birthday, and 40 percent are more likely to shop at a retailer that recognises their birthday. I can believe that as nothing seems to bring people into a shop than a birthday offer.

With your POS software check out the Customer Loyalty Mailing section, there are as you can see heaps of options just on the primary screen here we will discuss the other options later.

 

Note you can relate it to previous purchases too to personalise it.

If you are going to do this, you need to remember a few simple points.

1) The offer for maximum effect must arrive two to four weeks ahead of the birthday. People are making plans, they will be busy, they need time, and you have to give them adequate notice to be part of their plans.

2) It needs to be meaningful to them. Think of your birthday in your shop, you want something unique, special and you are willing to pay more to get it than usual, what is it or can be this item? Maybe instead of an item, you select a range of possible items so to make the net bigger.

3) Dollars overall tend to work better than discount percentages so $15 off if the item is over $100 works better than 15%.

4) A gift works well too, people expect presents on their birthday so, for example, the best bread in our store free for your birthday if you buy over $30 of stock.

5) Studies have shown people will sign up for a shop VIP club just to get a birthday present.

 

 

 

The Psychology of Branding

POS SOFTWARE

Many of my clients notice when they do sales report that they tend to do better when they sell brand items rather than no-name products. This is often strange as it is doubtful that many people know these brand and yet the public is often willing to spend more on these branded items.

This question often confounds experts, for example, I have done a barista course, I am a coffee junkie who takes his coffee seriously, and I claim a lot of expertise on this subject. Yet I am puzzled as to why so many people like Starbucks coffee. I do not think it is a good coffee, but I know if I put a Starbucks sign in a coffee shop, they will sell a lot more coffee. The brand sells.

If you are interested in why branded stock usually sells better, check out here this chart.

The University of Southern California | Master of Science in Applied Psychology Online

Colours in a gift shop

POS SOFTWARE

 

Sooner or later, we all have to decide as to what colour our business or organisation is going to adopt. So I was very interested when I got a chance to discuss this issue with an advertising agency that was advising a chain of shops. It was not considered to being a little decision what colours were the shops were going to become. I then left and did some research.

According to studies, we process about 80% of our information visually and the other 20% through a range of senses. So the first point that will show to anyone walking past your shop is the colour.

As a first-level approximation, I think that orange is a colour you want to stay away from as it gives a message that you are selling on price, and you want to be seen as cheap. However, if you do want to be seen as the cut-price shop in the shopping area, it would be the right colour.

If you want to show that you are exclusive, black and blue are your best options. Blue is useful if you are marketing to men, one problem with blue I notice is that it appears that almost everyone seems to like it, so it is probably too common.

Yellow is also suitable for men too, but aged people sometimes see yellow walls as dirty. So if older people are a significant category for you, you may want to avoid it.

One advantage of marketing to women, I notice is that you have a great deal more flexibility with colours. Purple is a problem as men tend to dislike it very much, but women tend to like it a lot My wife who studied colours a lot says that the only a few men that like it, and they are mainly homosexuals. I doubt this as I like it.

It is probably worth discussing the issue with an expert, which many of the paint companies have. They are not that expensive, a client of ours paid about $200 for an hour consultation and got a gift voucher of $80, so it cost them $120. It certainly better discussing it with an expert then what happened to me when I tried to address what colour my company should adopt with a person who is colour blind and was too embarrassed to tell me that.

The other issue is that once adopted you have to live with it, for the next 5 to 10 years.

 

 

 

 

 

 

 

 

 

Google local

POS SOFTWARE

There was some enquires and discussion after my recent post on Google #Masterclass2017 of how important is #local search for SMB. Well, here is a chart that you may find interesting although it's not dealing with SMB as such.

There obviously is a lot of interest in local searches. How influential are they to your business? Well, here is a study of just how important by brightlocal here

Here are some highlights in Italic.

84% of people trust online reviews as much as a personal recommendation.
90% of consumers read less than 10 reviews before forming an opinion about a business.
74% of consumers say that positive reviews make them trust a local business more.
58% of consumers say that the star rating of a business is most important.

People today are clearly forming a view on your business faster than ever. Based on this it does not take them much time. A few dreadful reviews, a awful star rating and you are out.

The good news, is that the study shows.

7 out of 10 consumers will leave a review for a business if they're asked to, so ask people to write something good and you have to keep doing it as
73% of consumers think that reviews older than three months are no longer relevant, in fact, I doubt they would read these old reviews no matter how good they are, as reviews are listed from most recent backwards and very few people are reading more than a few. So great five star reviews, three months ago are of minor use.

Here is an example I needed to buy some dog food urgent on the way home as we had run out, so I did a google search "Dog food near me" and got something like this.

 

I looked at how close they were and also the rating. What would you look at? Now tell me it does not matter in retail?

End of the Melbourne Giftware show

POS SOFTWARE

Well, the Gift show in Melbourne closed today. As it is the largest in Australia, so many retailers come from all over the country to see it.

Overall, I had mixed feeling about the Melbourne Giftware show for retailers. It was clearly a great chance for retailers to see thousands of unique products. It certainly presented them with a large and fresh assortment of products and resources, plus it was a great opportunity for retailers to meet many of the newer and smaller suppliers.

My big concern is that I thought most of the items on offer were too expensive. I think if I was seriously thinking of selling gifts, I would go to a large Asian overseas gift show as well. Trips to Asia are not that expensive and it would not take a large order to cover the trip.

Anyway, here are some photos which will give you a feel of the large range of products that were available.

 

 

 

 

 

 

 

 

 

 

 

 

Finding marketing seasons

POS SOFTWARE

In retail today, it's not enough to wait for the standard marketing seasons. You have to find them.

While talking a few days ago here about a retailer who pushed Wimbledon

 

And picked up a few sales, it suddenly struck me today that the "Game of Thrones"

 

Game of thrones

 

 

is starting up. There got to be from most of my clients a few sales there too for them if they market right as you can see there is a lot of interest in it and the market season is a lot longer than Wimbledon.

 

Of course, this is only the start. For example, our Jewellery POS Software shows a surge in sales during the holiday season (November-December), Valentine's Day, Mother's Day, and the wedding season (typically spring and summer).

If you try this, please let me know how it goes.

World Chocolate Day today

POS SOFTWARE

 

A few of my clients realised too late that they had missed out on extra sales due to World Chocolate Day. One that did promote it, told me that the sales today are very good on chocolate, the public really got behind it.

What it shows is that you have to follow the latest trends, it is not enough to use your reporting in the point of sale software with its low-stock alerts, because some days can if you push it, produce extraordinary sales.

 

 

Caution if you use SMS

POS SOFTWARE

 

If you are going to send SMS in bulk to promote your shop please be careful of what time you are sending it. One of my clients yesterday sent a few hundred SMSs to his clients advertising a sale for some products for Wimbledon tennis.

The SMSs went out at 2:00am. Although we do not think that any law was broken, I doubt many of their clients would be pleased with getting SMSs at that time. If you are using SMS, which under our group deal is now even more economical, please send them, it at a reasonable time, you may find this useful as a guide on this question.

Product bundling in 2017

POS SOFTWARE

Product bundling or group sell is probably the second most common marketing system in retail today. The wikipedia has an article on it here.

You can find it in our software in stock pricing under group sell.

What you are doing is grouping certain stock items together, to sell them as a group. Here are some typical scenarios, which can show you the power of this concept.

1) Make a group with a slow-moving item that few want, add it to a fast-moving item and try to sell them together. Often people wanting that fast item, will grab the pack for a little more.

2) Put several slow moving items together at a reduced price and hope that someone wants them.

3) Put many of the same items together and make a bundle for people that want large quantities.

4) Putting several items together to up sell e.g. most people in a coffee shop only want a coffee, make a special item a cake and a small coffee and people tend to order it, so giving the coffee shop owner overall a better sale.

5) Create a pack for people that makes a solution for people so making it easy for them to buy e.g. a set of paint brushes, canvas, etc. for people thinking of doing some painting. This works great with kids.

I do suggest that you look through the options available in our software as you will find there is much you can do with it. Of course as with all business strategies, you will need to experiment in your particular shop.

Over the years with my clients, group selling has proven to being the most successful method of getting rid of unwanted stock without excessive discounting.

Consider allowing Double discounts

POS SOFTWARE

 

Sometimes what happens is that a person gets a voucher like this and comes into a shop which has items discounted. Now if you allow the person to claim this voucher off the already discounted items, what you have is a double discount.

As expected studies have shown that these double discounts confuse people but what they also have been shown is that as a marketing tool double discounts are very effective. You can read about a study here.

 

Marketing - Free marketing list

POS SOFTWARE

If you are a supported client of ours, POS Solutions can create an extensive B2B mailing list for your location FREE up to 1000 names. If you are just a reader but not our client but want such a list, it's five cents a lead. It will be created and designed to your specifications to help you boost your business and generate profits.

Email and SMS lists are available too.

These are not rental lists that you have to keep paying for to use but once off buys.

As always, we offer you a quality marketing list that will help you maximize your business success. With our vast experience and expertise over many years, our company can only guarantee you a comprehensive database that you can use for your business. Furthermore, it worries free as we offer a money-back guarantee.

We believe that it is essential to create good software and help you use it to make the most of your software.

This is the difference delivered by POS Solutions.

If you need help with email text, consider using a virtual service.