Business Tips For Retail and Restaurant Owners
Give Your Business a Checkup
Coming soon - Ideas to Update Your Website
Point of Sale
Coming soon - Cash Register vs POS System
Coming soon - Proprietary POS vs Non Proprietary
Coming soon - POS Finance 101
Coming soon - Cloud POS Data is out of Control
POS Information for Retail
Coming soon - What Makes Costco so Hot?
POS Information for Restaurants
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Marketing 101, Mind Your P's
The 4 P's of Marketing stand for Product, Price, Promotion, and Place. I have added Profit and POS for Point of Sale
- PRODUCT
- Your product is what you are selling, whether it is Pretzels or Perfume in a small shop, or a large Family Restaurant or Apple Computer store, you are selling a list of products. What products you choose to sell, the type, quality, and availability all make up your products. Review and compare them on a monthly or annual basis. Compare them based dollars per inch of shelf space, turnover, profitability.
- PRICE
- Price seems pretty self explanitory, it is the amount of money you recieve in exchange for your product. However, using a restaurant as an example, the customer pays the price for the steak plus tax plus a tip. The tax is paid to the government, the tip is paid to the wait staff, and an additional fee is usually paid to the credit card processing company. Modifiers can be used to increase the price paid. In a pet shop, the sale of a lizard may include the sale of a tank, crickets, and many accessories. In a pizzeria, pizzas are modified with toppings, crust style, and crust toppings.
- PROMOTION
- Promtion is how you tell others about your product and how and where they can aquire it. Standard methods are advertising, using sales staff, having a website, and mailings.
- PLACE
- Place refers to how you distribute your product, whether thru waiters and waitresses, local representatives, a website, or trucking services. You have a method of moving your product from your location and getting it to your customers. The logistics of how you do this represents your business and determines how successful and profitable your business will be. Are your waitresses adding modifiers and upselling?, are you using SEO on your website ? is your freight company delivering your packages in one piece?
- PROFIT
- Profit was not one of the Ps listed in marketing class but it is very important. Anyone can buy hamburger meat and sell hamburgers to the public, but not everyone can do it profitably. Those that can, will remain. Those that can not, will not. We have many ideas to help our customers to be more profitable, including setting up gift cards with no swipe fees.
- POS
- A properly programmed Point of Sale or POS System will allow you to have the correct PRICE for each of your PRODUCTS. It will allow you to track and PROMOTE to your best customers so they return to your PLACE more frequently and increase your PROFIT. That is our goal. We program our POS Systems for fewest clicks. We add pop ups to remind and speed up the process.
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Marketing 101, Mind Your C's
The 3 C's of Marketing stand for Company, Customer, and Competition
- Company
- This is your store or your restaurant. Walk outside and pretend you are seeing your place for the first time, as a new customer. Does it look clean, sharp, and inviting? Can you see your sign from all directions? What is the atmosphere inside? Invite someone to come to your store or restaurant, specifically to critique it and see what they have to say. Ask your customers to tell you what they would change.
- Customer
- There are new customers, repeat customers, and prospective customers. What are the demographics of your customers? Look at the best 20 percent of your customer base. What can you do to bring them back more often or to entice them to bring their friends with them? We offer Customer Loyalty Programs designed to do just that. It is all tied into your Point of Sales system. Call us today to find out how.
- Competition
- Your competition is anyone or anything that keeps your prospective customers from buying from you. In example, competition for restaurant is not only other restaurants in the area. It is also frozen, heat and eat food at the grocery store and homemade food at home. List your competitors and review the Products, Price, Promotion, and Place for each one of them. Keeping your best customers to yourself and not sharing them with your competitors is important. Our customer loyalty programs are kept personal. Our customers own all the information, control the programs and the information, and there are no monthly fees
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