Missed Opportunities

How to Recognise Missed Opportunities and Turn Them Into Profit!

In May we were delighted to present the Best DJ award at the Tenerife Entertainment Awards. As you might imagine this special occasion had my wife Jennie, (with me in tow) heading off to the shops for a new dress and handbag. We found a lovely dress shop in Las Galletas with a great selection, and next door there was a bag shop with a choice of handbags. Perfect!

Whilst Jennie was trying on dresses I had a half hour long chat with the British owner of the bag shop, who told me all about how bad business was. She also told us how people would often come into her shop and buy a bag after buying a dress. Whilst showing me the various dresses Jennie said to the owner: “You have some lovely bags in your shop, I will come and look at them as soon as I’ve finished.”

I asked the owner when she closed and she told me 8 – 8.30 pm, depending on whether she had customers.

My wife finished making her dress purchase at 8 pm with the intention of going straight next door. As she came out of the dress shop, the bag shop owner got her key out and locked up her shop.

WAIT! HOLD ON!

You were telling me how bad business is, we’ve told you we’ll come and look at your bag selection with the intention to buy, AND YOU CLOSE YOUR SHOP AS WE’RE ABOUT TO WALK IN???

What a missed opportunity! The shop has since closed down – and we’re left to wonder whether the owner did what they could to keep their business going…

Here’s another real life example. Jennie was recently making some enquiries on behalf of a client of ours who was interested in making frequent purchases from a particular shop in Los Cristianos.

The shop was closed when Jennie first visited, despite her turning up during opening hours. When she popped back later asking for details of the range of services provided, the British owner was distinctly unhelpful.

Answers to any questions she asked were monosyllabic, and the owner didn’t offer any helpful information or literature to take away. It was like squeezing blood out of a stone.

In the end Jennie sought another provider of this service who was much more helpful and accommodating, and as a result, this owner is missing out on a very solid, reliable and regular customer.

So what about your business?

First of all, learn to recognise opportunities!

Start with a fresh look at all your enquiries, or at people who walk in to your premises. If you can, let staff handle them whilst you study the customer and the situation. If you’re on your own, you’ll need to concentrate hard on doing the business and study the situation and the customers at the same time.

Observe their behaviour closely. What are they asking for? How are they behaving? What are they looking for? How are you providing it?

Next you need to think about how you can turn this into an opportunity to maximise your selling potential or provide a better service. Become your own customer – walk into your premises and go through the experience with their eyes.

Would YOU be happy with the service? Would YOU be happy with the answers to your questions? You should be your own worst critic, and make sure there’s nothing to criticise!

Let’s take a real example. At Effective Marketing Tenerife we offer a Mystery Shopping service, and a two hour workshop where we restructure your business. We were called in to rescue an exclusive shoe shop where the owner had trouble selling Birkenstock™ sandals below cost!

It turned out to be very easy. For example, when we walked into the shop there was a big table in the doorway with a red and white tablecloth with “SALE” written all over it, and grey shoe boxes stacked way up high.

Now, does that say “exclusive” to you? Would that encourage you to pay full price for exclusive shoes? Or does it scream “bargain bucket” at you?

The owner had to admit we had a point. She therefore repositioned the table in the shop, added a tasteful table cloth, set out the shoes so they were beautifully displayed, with a tag that said “Special Offer – Last One Remaining” when that could truthfully be said. Immediately the sales started to come in!

If you need fresh eyes to look at your business, ask a trusted family member or maybe some friends to undertake a mystery shopping visit. Or if you want some honest, professional analysis, get in touch from our website www.emtenerife.com or call 902 789 660 – a mystery shopper visit with follow up report is only €29.95!

The quickest way for anyone to make more money and turn their business into a little money machine, is by making people come back for a second or third visit, or turn them into lifetime customers.

Let’s say you typically make €15 from a customer visit. If your customers visit only once you only make €15. If they come back once more you’ll make €30. Simple really, isn’t it?

You already have loyal, lifetime customers, I hear you say? Well, then you know it can be done – why not work smarter at making more of your single visit customers turn into loyal, lifetime customers??

This week, as a Canarian Weekly Reader Service you can download a FREE Special Report from www.emtenerife.com that explains how 3 simple steps can make a massive difference in your business.

If you are the owner, manager or director of a company in Tenerife, the information in this report could literally turn your business and your future around. Learn how you too can have lots more customers and enjoy much higher profits in a short time!

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