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With over 25 years of frontline experience Tom Shay is America's leading small business management expert. He's a "Must Have" for your next event.

  e-ret@iler newsletter
February 2010
Volume 11 Issue 3

 

Profits_Plus Solutions
Tom Shay Photo
Article of the Month

Promoting bicycle helmets
by
Tom Shay

OK. So many of you do not sell bicycle helmets; not the point. The idea of the article is the concept of doing something in your community to make a difference. While the story happened several years ago, the concept is now referred to as 'cause marketing'.

It has worked for us and can work for you. You may want to listen to one of your free audio classes entitled, "CVS Marketing". That's Cause, Viral and Social Marketing.

Click on Article of the Month to read this article.

Book of the Month

What customers want
by Anthony W. Ulwick

This is a deep thinking book. It gets way past the tradition of waiting on a customer or calling on a customer at their office or home. The author refers to it as 'outcome driven'.

The key is going to be having enough customers in the pipeline to make it work for you. Anyone that has said they don't have time to cultivate customers because they are currently busy has undoubtedly put themselves in a tough place.

When sales slow down, it takes them much longer to get something new into the sales pipeline. This book makes for good reading when the discipline of always cultivating customers is applied.

We have more books to suggest for your reading. Click on Book Referral to visit this page on our site.

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Profits Plus
P.O. Box 128
Dardanelle, AR
72834 USA
(727) 823-7205 Voice
(727) 898-3179 Fax


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Business Advisory

"I'm sorry"

This is a phrase I am getting very tired of hearing. Simply because because people use it and then do nothing. I was prompted to comment on this as I read a blog in which the writer, who had previously flown with Northwest Airlines, was impressed by something they experienced now that Northwest is a part of Delta.

It seems Delta did something to irritate a lot of customers on a flight. (I've had this experience more than once) Delta sent these passengers a form letter along with a credit of 25,000 miles to their frequent flyer account. The writer of the blog was impressed. I am not.

Several years ago there was a report about a similar situation. It was an airline, the now defunct TWA that learned there was a better way to impress a customer - listen to them.

TWA used to allow their staff to hand out 'checks' that were for amounts of $50 to $150 on the purchase of a future TWA ticket. If a person was mad, the TWA person simply handed these out.

Then someone at TWA had an idea. What if they were to listen to customers when they complained? They did so and then asked the customer how they would like the issue resolved. The found that customers asked for far less than what the TWA employee was willing to surrender. Many just wanted to voice their displeasure.

The cost of what the customer asked for was far less than all the 'checks' they had been handing out.

As a reminder, here are the seven steps to solving a customer complaint.

1. Thank the customer for taking the time to tell you about the problem. Most customers will not; they will just tell their friends and family how lousy your business is.

2. Ask the customer to tell you about the problem. The average customer will take less than one minute to explain.

3. Ask questions. This shows you are really interested as well as helps to calm down an angry customer.

4. Take notes. This also calms an angry customer. As you take notes the customer is likely to ask why. Your explanation is that you may need the notes as you call the manufacturer or someone else to help you solve the customer's problem.

5. Ask the customer what they think will be fair. I know this could be scary; reread the TWA story above.

6. Take the appropriate action and resolve the complaint.

7. Follow up with a phone call or note to ask if the solution has been to the customer's satisfaction.

The idea of saying, "I'm sorry" and then explaining to the customer why you have irritated them just makes them madder.

$$$$$$

Thursday, February 25 is our next conference call. As with all previous calls it will start at 8:00 pm eastern time. The topic for the evening is going to be 'learning a new management style'.

In the past month I have visited with many of you who have told me you want to participate in the call as you read the e-retailer but then forget it.

Here's a reminder to mark it on a calendar or planner. You will get a reminder about a week before the call as well as a last minute reminder on the day of the call.

We continue to record the calls as well as now making them available in a mp3 format for those that enjoy their IPod or similar player.

For those of you that are new, participating in the calls is free.

$$$$$$

Internet Tip of The Month

Sales per employee

In the tough economy businesses are watching their payroll closely. Unfortunately, many just decide to cut payroll so that the expense will go down. What they are not doing is checking to see what their sales per employee are.

This is a calculation that compares your payroll to sales. It is calculated by totaling the number of hours worked in your business during a week and dividing that number by 40. The answer gives you the number of full time employees you have. Then divide your gross sales for the year by the number of full time employees. The answer is the 'sales per employee'.

What if you look at your number and find that you are above your industry standard? Would you still get rid of someone because of the economy? Or should you think about adding someone to see if you can drive sales even higher? This free calculator can help you determine your sales per employee.

Sales per employee

The Power Promoting Idea of the Month
Evening preview sale

Spring is coming. Really, it is. And as your spring selections are arriving you can help your customers to think about what they are going to need as we turn the corner or seasons. How about a preview sale for your customers? Have some refreshments, add some entertainment, and send an invitation to your customers.

The evening preview sales does not need to be a long evening; a couple of hours should do.Make sure the specials you offer are really special; none of this 20% off stuff - it won't work in today's economy. Don't forget some door prizes. And how about offering something special to customers that bring a friend with them? After all, their bringing you a customer is cheaper than you having to advertise for one.

 

 

 

 

 

DECEMBER 2024
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Small Business

AdvisorieS

Whose job is this, anyway? Have you heard that before? The December Small Business Advisory offers ideas from those who have found solutions.

Small Business

NewS

Top Story

Past our announcement that the December newsletter starts our 26th year, we are discussing what is and what is not a problem.

 

Starting with, all these announced closings of retail operations is not a problem indicative of retail. It is an indicator of chain stores trying to correct the problems they previously made.

Article of the Month

We came across a solution of tasks not getting done as well as tasks not done correctly. We created an owner's manual for our business. Details in the Article of the Month.


Book of the Month

Atomic Habits by James Clear. Have you ever caught yourself saying that you had gotten out of the habit of doing something? Perhaps it is something you need to continue to do? This book can be applicable to personal and business life.

BOOK US

With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.

Small Business

Advisories

Whose job is this, anyway? Have you heard that before? The December Small Business Article of the Month offers ideas from those who have found solutions.

Small Business

News

 

Top Story

Past our announcement that the December newsletter starts our 26th year, we are discussing what is and what is not a problem.

 

Starting with, all these announced closings of retail operations is not a problem indicative of retail. It is an indicator of chain stores trying to correct the problems they previously made.


Article of the Month

We came across a solution of tasks not getting done as well as tasks not done correctly. We created an owner's manual for our business. Details in the Article of the Month.


Book of the Month

Atomic Habits by James Clear. Have you ever caught yourself saying that you had gotten out of the habit of doing something? Perhaps it is something you need to continue to do? This book can be applicable to personal and business life.