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Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
Your Customer Doesnt Live Here Anymore By Tom Shay
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Your Customer Doesnt Live Here Anymore By Tom Shay

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Tom Shay helps small businesses to properly identify the part of the market in which the business can most easily profit without competition. www.profitsplus.org

Tom Shay helps small businesses to properly identify the part of the market in which the business can most easily profit without competition. www.profitsplus.org

Published in: Business, Economy & Finance
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Transcript

  • 1. Tom Shay, CSP Certified Speaking Professional
  • 2. Of the questions asked, the most important is …
    • Define the differences from your competition
    www.profitsplus.org
  • 3. How are you locating your customers?
    • Can you describe them?
    • Where do they live?
    www.profitsplus.org
  • 4. Do your products determine your business?
    • Accessory items
    • Consumable products
    • If you had new products, would they bring in new customers, or would you be selling new products to existing customers?
    www.profitsplus.org
  • 5. What is the reputation of your business?
    • Save the customer money
    • Give the best value for the money
    • Great shopping atmosphere
    • Top quality products
    • Problem solvers
    • The latest products
    www.profitsplus.org
  • 6. Substitutes for the best location
    • Unique products
    • Additional hours
    • Offer delivery
    • Unbelievable customer attention
    • Cheap prices
    www.profitsplus.org
  • 7. What does a customer cost you? www.profitsplus.org
    • The cost of gaining a new customer is $20
    • The cost of keeping a current customer is $4
  • 8. How do you calculate the value of a customer?
    • Average ticket $____
    • Average annual visits ____
    • Annual spending $____
    • # Years shopped ____
    • Lifetime spending $____
    • Your margin ____%
    • Lifetime value to you $____
    www.profitsplus.org
  • 9. Substitutes for the best location
    • Unique products
    • Additional hours
    • Offer delivery
    • Unbelievable customer attention
    • Cheap prices
    www.profitsplus.org
  • 10. Instead of just traditional advertising…
    • Promote
    • Promote
    • Promote
    www.profitsplus.org
  • 11. Do your employees say…?
    • Can I help you?
    • Is that all?
    • Do you want me to ring that up for you?
    • My name is Bob, call me if you want anything.
    www.profitsplus.org
  • 12. How are you training them?
    • Only 25% of small businesses have formal training programs of which half actually budget for this expense. Of these, the average amount is .02% of sales.
    www.profitsplus.org educating
  • 13. What type of business should you be?
    • Item and price (Your competition?) - Minimum staffing - Low cost staff - Easy to gauge success - Don’t put up with problem customers - Must compete with the “big boys” in advertising - Eliminates the small business “personal touch” - Must be very accounting sharp to control expenses - Hard to upgrade from this image
    www.profitsplus.org
  • 14. What type of business should you be?
    • Product (Sharper Image)
      • Usually has higher margins
      • More affluent customers
      • Gets good media coverage
      • Higher quality items
      • Requires “guerilla” tactics
      • Requires more staff
      • Higher customer expectations
      • Must stay on top of market
    www.profitsplus.org
  • 15. What type of business should you be?
    • People oriented (The one for you?)
      • Location less important
      • Requires less attention to advertising
      • Develops loyal customers
      • Sets you apart from 95% of businesses
      • More labor intensive
      • Requires you to be detailed oriented
      • Requires lots of employee education
      • Requires manager/owner to have a “hands-off” style of management
    www.profitsplus.org
  • 16. What kind of customer do you want to have?
    • The one with specific needs?
    • The problematic customer?
    • The browsing customer?
    • The price shopper customer?
    • The confused customer?
    • Which type of store wants which customer?
    www.profitsplus.org
  • 17. What a customer wants from a shopping experience
    • Have in stock what I want
    • Value my time
    • Sell me value
    www.profitsplus.org
  • 18. What is value?
    • Quality
    • + Service
    • + Information
    • + Price
    • Value
    www.profitsplus.org
  • 19. What a customer wants from a shopping experience
    • Have in stock what I want
    • Value my time
    • Sell me value
    • Visual merchandising
    • Have professional help
    www.profitsplus.org
  • 20. Offense or defense
    • Defensive – Must be the #1 player in the market; be able to attack yourself.
    • Offensive – Recognize the position of #1 (their products and services); find a weakness and attack on a narrow front.
    www.profitsplus.org
  • 21. Merchandising Strategies www.profitsplus.org S.K.U. count Inventory depth A B C D
  • 22. Service Strategies www.profitsplus.org Hours Customer service A B C D
  • 23. Combined strategies territories owned www.profitsplus.org What territory can you claim? A C B D
  • 24. Shop the competition to determine ….
    • Who is your “A” competitor?
    • Who is your “B” competitor?
    • Who is your “C” competitor?
    • Who is your “D” competitor?
    • Where should your business be?
    www.profitsplus.org
  • 25. When a sales representative walks into your business …
    • Is this an “Oh no, not again?”
    • Or, “Here is our partner that does not get a paycheck!”
    www.profitsplus.org
  • 26. What you can do that they can’t
    • Promote
    • Offer value
    • Offer quality
    • Have an educated staff
    • Love your customers
    • Conduct offensive warfare
    • Enjoy the business
    www.profitsplus.org
  • 27. Checking your progress
    • Sales increase?
    • Gross margin increase?
    • Customer count up?
    • Employee turnover down?
    • Customer survey improved?
    • Any other goals?
    www.profitsplus.org
  • 28. A sample customer survey:
    • What one thing could we do to make it easier for you to do business with us?
    www.profitsplus.org
  • 29. Even if you are on the right track, you’ll get run over if you just stand there www.profitsplus.org
  • 30. Final Note www.profitsplus.org
    • This presentation will be specialized to your industry and your attendees’ specific needs.
    • For more information about having Tom present for you, contact us at (727)464-2182 or visit our website: www.profitsplus.org

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