[Here’s your replay] “How Much Money is being Left on the Table?…and other Retail Mysteries”
If you missed our webinar featuring Karen Barry of The Friedman Group on Wednesday, May 27, never fear!
Here’s your replay:
In this webinar, Karen challenges us all to make the most of the new perspective we have all gained from these last months to get a shot at new beginnings.And a great place to start, when your stores open up for business, is by asking these questions about your sales staff:
How do you know who your best people are for your business and how do you hold them accountable to your standards?
Does your sales team know your expectations for their performance?
Can you benchmark behaviors?
According to Karen, it’s about measurements of achieving potential and creating a culture that defines success in clear, objective terms. Set a bar and plan for the following 5 benchmarks for key statistics:
Number of Transactions
These are just a few of the metrics Doorcounts tracks, and if you don’t have Doorcounts you can always use any of the following methods:
“Tuchosity”-Mr. Friedman’s term, but basically the same as pulling a number out of a body part that shall go unnamed here!
Superseller performance–Using your top seller’s bar of excellence
Current and historical pay
Although there are external factors that can influence sales that seem out of your control such as some merchandise changes, vendors exiting/entering the market, and personnel decisions, there are plenty of things you can control to know how much money is being left on the table, as well as many other retail mysteries.