Tower Systems helps small business retailers achieve balance in inventory

We often see in data from retailers an imbalance in inventory performance – 20% or fewer items in-store generate 80% of the revenue.

This imbalance can often be missed if the overall business performance is good. It could be that such an imbalance is only discovered if the business falls on hard times and more thorough analysis of business performance is undertaken.

Using the Ranked Sales Report in the Tower Systems POS software you can quickly and easily see the top performing inventory items based on revenue or unit sales. Either metric could be useful in different situation.

Our advice is to run the Ranked Sales Report for a three, six or twelve month period. Look at the items in, say, the top 100 and determine the value of those items to your business compared to the rest of the business.

Usually, such analysis highlights inventory challenges business owners want to address by achieving greater balance of sales across more inventory items. This does not mean holding back the top performing lines. Rather, it means working on those outside the top performers, working on their success through work on placement, promotion, staff engagement and other factors over which you have control.

The Ranked Sales Report provides excellent insights into comparative performance of inventory items. The goal is to guide you to achieve greater balance so your business relies less on the star performers.

The danger of relying on star performers is the impact on the business should one or two stars fall. The more broadly based your business the better positioned it is to weather competition, challenges or a decline in one or two items. Broadening the base of your business from an inventory perspective strengthens the business.

We are happy to assess your Ranked Sales Report for you. Contact support and ask the settings we’d like, run the report, save it as a PDF and send it to us. We will share our feedback.

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Updated advice for POS software users in Tower Systems knowledge base

The Tower Systems Knowledge base continues to expand with weekly enhancements. We add new articles and update existing articles. This makes the knowledge base a living thing for our customers, offering fresh insights and advice through which they can learn more about how to use the software.

Here are knowledge base enhancements in the last few days.

  1. Importing The Blueshyft Stock File & Invoice File
  2. Common Problems With Magazine Arrivals
  3. Gift Vouchers / Cards Setup
  4. End Of Financial Year Procedures
  5. How To Add A New Staff Initial
  6. NETWORK Sales Data Being Sent Back To XChangeIT
  7. New PC / Windows Configuration – Operating System Configuration

Our POS software customer in their weekly email get a more comprehensive list … weekly.

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How do you know can you trust a POS software company?

Trust is important in business. It is especially important in small and local business.

Trust is mission critical for POS software companies.

We say this because our software helps our customers engender trust in their local communities and with their customers. If our software fails, it challenges the trust local shoppers have in local businesses using our software.

Retailers rely on their POS software, they trust their POS software companies to provide software that works and that it is backed with professional assistance when they need … and that it is enhanced too meet the needs of businesses as they evolve.

This is why we say trust is vital in the choice of POS software for any small business.

So, how do you know you can trust a POS software company you are considering? Here is our advice, things to look for in assessing the trustworthiness of any POS software company you are considering:

  1. Talk to the owner. Most businesses will say this is not possible. Challenge them – see how they respond.
  2. Visit their office. This is essential to understand their capacity to serve you.
  3. Look at their website. Do they make it easy to contact them? Are the ottos real? Do the words make sense? Do you trust what they write? Are they on your level?
  4. Talk to their customers.
  5. Ask for access to their training website. See what their customer see.
  6. Ask for access to training videos. See the resources they offer for staff training.
  7. Do a Google search on them and see what comes up.
  8. Do a Google search on their owner and find out more about them.

POS software company relationships are long term so take your time, make sure the business you enter into a relationship with has the capacity, stamina and desire for an equally long term relationship.

POS software company relationships are personal. Ensure the POS software company you are talking to understands this. Too often POS software companies hide behind general email addresses and call centres where you do not know the name of the person you are speaking to. It is vital you know who they are because, yes, it is personal. Being personal is key to trust and trust is vital in this relationship.

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A note on POS software and credit card access in small business retail

The Tower Systems POS software does not store credit card numbers of customers who use cards to pay in shops using our POS software.

The customer presents their card to the Tyro terminal connected to our software the processing of the card details is done 100% by Tyro with no details being shared with our POS software other than payment success or otherwise.

This approach – of us not storing credit card details for retail transactions – is vital in providing peace of mind for retailers and their customers around customer credit card access and fraud mitigation.

Our view is: storing a retail shopper credit card number in POS software is a big mistake. It puts the security of the card number at risk. Customers will not like it.

We suggest retailers not use POS software that stores customer credit card numbers.

Our Tyro and other bank EFTPOS integrations meet the high standards set in Australia and New Zealand for electronic transactions using credit and other banking cards. Our connections are tested and authorised. They are secure.

Tower Systems takes fraud mitigation seriously.

Update: The lone voice of POS Solutions, Bernard the owner of the business, is back from a long vacation and rather than discoing topics to write about for himself, he writes about what we write about it. You can see it today on their site. They don’t name us. They rarely do. Instead, the use terms like: One software company, I know well. Yes, that’s us. His post is a ramble whereas the facts we have presented here are focussed. The two posts speak to their respective companies.

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Free training for small business retailers to increase sales

Small business retailers using the POS software form Tower Systems have access to best-practice free POS software training every week. This coming week we are re-running one of our most popular live workshops, on how to use discount vouchers to drive retail sales:

Meeting Name: Increase Sales Now! Start using Discount Vouchers.
Date: 13/07/2016
Time: 2pm
Description: Start using Discount Vouchers to grow your business. A great introduction to this great feature.

This interactive live session takes small business retailers through the process of setup and use of the popular discount voucher offering.

Tower Systems is proud to be continuing to deliver these free training opportunities for our customers – year in year out. It is a Tower Systems difference live and in action for our small business customers.

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Best practice advice on how to do a stocktake using your POS software

Here is some of the advice we published to ur POS software customers in the lead up to the end of the financial year – to help them efficiently and accurately handle stock take requirements.

Take the technology to the stock and not your stock to your technology.

For the process to be as easy as possible you will need a wireless network – vital for OH&S reasons.

The best way to do a stocktake in your business is by using a laptop (or laptops) or tablet computer with a scanner attached. This enables you to do the stocktake live with no impact on sales and absolute integrity of your stock on hand data.

While using a laptop (or laptops) or tablet computer may seem cumbersome, it is our best practice advice for speed, data integrity and the ability to address data issues you may encounter on the shop floor. It enables you to do management work to ensure completely accurate data.

The alternative is to use a PDE. The challenges with this are the many different PDEs and it is challenging to be expert in all plus the PDE counts at that time and you load the data at a later time – meaning a gap in time in which sales could have been done. While PDE software is available for live to data updates, we have seen this be problematic and so we do not use it.

Given the advances in technology, our best practice recommendation is either a laptop of tablet computer as either offers a better solution than a PDE.

We suggest you setup a Laptop or tablet and use Team Viewer or the like to connect in and count this way. This approach means you do not need to purchase an additional software licence for the laptop. Team Viewer is easy to setup. If you do need our help on this there would be a support cost.

For the physical stocktake, we suggest you approach the business aisle by aisle, counting and rearranging stock as you go.

Once you have completed your first full stocktake, our advice is you engage in a rolling stocktake, doing parts of the business, through the year. The Tax Office does not require businesses with full sock control implemented to do a stocktake at the end of the financial year. They will accept data from your system if you manage stock through the year.

On the stocktake itself, follow carefully our Knowledge Base advice. Choose the type of stocktake wisely. Backup before you commence.

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Comprehensive new POS software training opportunities for small business retailers

We are proud to have scheduled the following free live online training workshops for users of our POS software. Click here for easy, fast and free online booking:

JULY
Meeting Name: Stocktaking in Retailer
Date: 06/07/2016
Time: 2pm
Description: Missed EOFY? Catch up now. – Doing a stocktake in retailer and what option works best for you.

Meeting Name: Increase Sales Now! Start using Discount Vouchers.
Date: 13/07/2016
Time: 2pm
Description: Start using Discount Vouchers to grow your business. A great introduction to this great feature.

Meeting Name: How to handle non EDI invoices to keep stock accurate.
Date: 20/07/2016
Time: 2pm
Description: See how easy it is to process invoice’s manually for suppliers that do not send electronic invoices to help keep your stock figures accurate.

Meeting Name: Free Up Cash in Your Business Today
Date: 27/07/2016
Time: 2pm
Description: Find stock that isn’t selling and turn it into cash quickly.

AUGUST

Meeting Name: Reports that will change your business
Date: 03/08/2016
Time: 2pm
Description: Reports in retailer that will help you drive sales and increase profit.

Meeting Name: Understanding the End of Shift Reports.
Date: 10/08/2016
Time: 2pm
Description: Why is the End of Shift important? How do I check my settings are correct? What do the reports mean? And what parts of the report do I need to use for my accounting.

Meeting Name: Loyalty Programs. What works best for you.
Date: 17/08/2016
Time: 2pm
Description: There are 4 ways to do loyalty in retailer. Find out which will work best for your business.

Meeting Name: Trouble free handling of Cartons and Boxes in your retail business using Tower Systems
Date: 24/08/2016
Time: 2pm
Description: Handle Cartons and Boxes of stock simply and easily. Especially useful if you sell singles and cartons of stock.

Meeting Name: How to discount easily for Seasonal Sales
Date: 31/08/2016
Time: 2pm
Description: Quickly and easily setup automatic discounts for seasonal sales using catalogues

SEPTEMBER

Meeting Name: Using Targeting Marketing in Retailer
Date: 07/09/2016
Time: 2pm
Description: Use marketing to target specific types and groups of customers.

Meeting Name: Retailer software settings you will be shocked you have access to.
Date: 14/09/2016
Time: 2pm
Description: Help desk expert Colin Harris will show you settings you most likely don’t know exist that can help your enjoyment of the software

Meeting Name: Increase Sales Now! Start using Discount Vouchers.
Date: 21/09/2016
Time: 2pm
Description: Start using Discount Vouchers to grow your business. A great introduction to this great feature.

Meeting Name: Re-Ordering stock with Retailer
Date: 28/09/2016
Time: 2pm
Description: Make Retailer work for you. Re-order based on solid data and spend less time on re-ordering.

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Small business retail advice: make every day your pay day

There was a time when small business retailers could rely on selling their business for a handsome increase on the price they paid thereby providing a good pay day, when businesses sold for a good multiple of net earnings.

No more. Today, the best way to extract value from our businesses is to make every day your pay day, to not rely on your pay day being the day you sell the business.

The challenge is how do you do this?

Retailers need to look at their businesses differently. This starts with the mindset of every day being your pay day. Each decision needs to be considered in this context.

Focusing on profit today will give you a better result today and make your business more valuable tomorrow.

Here are some suggestions for making every day your pay day:

  1. Run with the leanest roster possible. Just about every retail business we review has capacity to lower labour costs.
  2. Have your best people working the floor, helping customers spend more.
  3. Have stunning displays that attract people from outside the shop.
  4. Have compelling displays in-store that encourage people to browse beyond their destination purchase.
  5. Always have impulse offers at high traffic locations.
  6. Charge more every time you can. Loyalty programs such as discount vouchers, bundling into hampers, multi buys such as 2 for 3 and other opportunities enable you to do this by blocking price comparison.
  7. Buy as best you can.
  8. Grab settlement discounts every time you are able.
  9. Promote outside your store using online and social media opportunities.
  10. Leverage adjacency information. Chase a deeper basket – people purchasing more each visit.

Be responsible for the profitability of your business. Don’t blame your suppliers, your landlord, your employees or some other external factor … it all comes down to you – the decisions you make and the actions you take.

If you relentlessly pursue profit with a clear focus you are likely to see profit grow. That’s better than waiting to make money when you sell because that’s less likely to happen in this market.

Doing all this relies on your measuring the performance of your business. The Tower software helps with this. It is easy.

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Small business advice: A checklist for those buying a retail shop

A common question we are asked at our POS software company has nothing to do with software. It is from people considering purchasing a retail business. The question is:  what should I ask for when looking at buying a retail shop?

The question itself, when asked, indicates how green a prospective purchaser is when it comes to purchasing a business.

Here is a list of data points we suggest retail business purchasers access from the vendor or their representative:

  1. P&L from the accountant for the last two years. i.e. not a spreadsheet created for the purpose.
  2. A good explanation of any add-backs.
  3. Sales data reports, for the last two years, from the POS software in use – to verify the income claim.
  4. Sales data reports from the lottery terminal to verify the income claim.
  5. BAS forms to confirm data in the P&L.
  6. A list of all inventory to include purchase price and date last sold for each item.
  7. A copy of the shop lease.
  8. A copy of any leases the vendor expects you to take on board.
  9. A list of all employees: name, hourly rate, nature of employment, start date, accrued leave.

This is good basic information that will enable any purchaser to undertake reasonable assessment of a business.

A good business will shine through the numbers just as a business with upside achievable by new owners will shine through.

My advice to vendors looking to sell who are concerned about this list is: think about it now and focus on your business so the data listed looks good.

Every day you make decisions in your business that impact many of the data points listed.

This is why we say every day is your pay day. Run a smart, lean and profit focused business and you will have a good pay day today and a good one when you come to sell.

The most appealing businesses are those that are easier to run and are making money.

The time to focus on that is now.

Sure, a purchaser can turn a business around. They should get the rewards if they are expected to do that for your business.

The price you can sell your business for will be based on what it is making now.

Getting the data ready for the sale of the business could, of itself, help you improve how you run your business.

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FREE STOCKTAKING TRAINING FOR POS SOFTWARE USERS

Our end of financial year stocktake training for our small business retail customers is proving to be popular. Even the additional events we are hoping are filling up.

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These live training workshops are supplemented with our one on one free training for individual situations as well as training through our training videos plus our training through advice sheets accessible from our online self-serve knowledge base.

We are grateful to our customers for supporting the free training opportunities. Our experience is that participating in the free training helps people get more from their POS software and makes them less reliant on our help desk for assistance.

Our free EOFY stocktake training covers all a retailer needs to know to prepare for and undertake an end of financial year stocktake.

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HELPING SMALL BUSINESS RETAILERS COMPETE WITH ONLINE

There is no doubt that every retail business, large and small, needs on online strategy. This is mission-critical to their success given the usage of online sites and tools in the shopping process, even the everyday shopping process.

Small business retailers can be part of this, they can connect with shoppers who are online and searching online by leveraging the valuable data in their in-store POS software into appropriate searchable and locatable online platforms.

The challenge is small business retailers often don;t know where to turn. Some engage a business consultant, others a web developer, others a friend with some geek-speak skills while others go it alone.

Given that successful online engagement starts with beautiful data, starting with a professional POS software company in your retail channel niche it most likely going to deliver the best outcome for your specific type of business.

The best way to do this is to partner with a POS software company with an established and successful online strategy. But this is more than a bit of tech speak and slick marketing, it has to be real, being used today and established with relationships with search engines and other valuable online platforms.

Small business retailers can grow their businesses with a smart online strategy.

Tower Systems has success in the online space, helping small business retailers to leverage local shoppers and shoppers interstate and even overseas. We do this work through several divisions in our company from desktop to web to marketing. Our approach is whole of business here and for our small business retail customers.

The outcomes we deliver are helping small business retailers to reap rewards they previously were not pursuing. In addition to the tech that makes this happen for small business retailers, we offer the business play, the why and how of business activity to help a small business retailer to find new customers, achieve net new revenue and build new connections in the wider world online.

Tower Systems has excellent success storing bring small business retailers to the engaged and exciting online marketplace locally and overseas. It is what we do everyday for our customers in a diverse mix of retail channels.

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SUNDAY SMALL BUSINESS RETAIL ADVICE: MANAGING EMPLOYEES

We have helped many small business retailers confront their employee management challenges. Based on years of assistance and advice, we have developed some simple guidelines, which we share here today for others:

You hire, train, manage, motivate and, ultimately, fire your employees. Their performance is on you. Next time you go to complain, first ask: what could I have done as leader to avoid this?

SET EXPECTATIONS BY SHIFT.

Key to good management and leadership is good communication. In a retail situation, good communication starts with setting expectations.

People forget. This is why a checklist is helpful in guiding the tasks you want completed.

It is important to be specific in your delegation – setting tasks for specific people rather than listing generally what you want done.

It is also important to be transparent, so everyone working on any given day knows what is to be done that day. Consider posting the list on a noticeboard or have the sheets in a clipboard at the counter for all to see.

Do not list on here things to keep people busy as they will see through it and be half-hearted. List what is important to the business, tasks against which you will judge your team members.

The more consistent and structured your setting and communication of tasks for and to your team members the easier it is for them to follow your direction and for you to you to measure their performance.

Tips for a good employee task checklist.

  1. Be clear and concise. Ensure that your directions are understood.
  2. Where appropriate, explain why, why a task will benefit the business.
  3. Fairly allocate tasks across the people working on any given day.

On the following page is a checklist you can use as a template. It is in a format you can easily change to serve your needs.

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TOWER SYSTEMS HEADED TO XEROCON, XERO CONFERENCE

Tower Systems is proud to be headed to Brisbane to participate in Xerocon South 2016, the Xero event unites the network of Xero accounting, bookkeeping and ecosystem partners under one roof for a collaborative and transformative experience. Xerocon has a history of accelerating innovation within the industry and fuelling small business success.

Tower Systems will be showcasing our latest small business POS software and our live and direct POS software Xero integration. We will have software and sales experts on hand to show off our Xero capabilities to accountants and other attendees at what is expected to be a sold out event for the Xero community in Australia.

This is a major event and we are grateful to Xero for the opportunity to participate.

As we get closer to the event we will share more about what we are doing for our growing Xero user community and those who support them.

Exciting times ahead.

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WEBSTORE / POS SOFTWARE INTEGRATION STRATEGY DRIVES RETAIL SALES FOR SMALL BUSINESS RETAILERS

We are thrilled with feedback from retailers using our POS software webstore integrations. The best feedback of all is the news of sales they are achieving that they would otherwise not have achieved.

Through websites we have developed and connections back to high street retail businesses using our POS software we have helped small business retailers achieve significant sales from shoppers interstate and overseas.

The sales success is as much a testament to our search engine work as it is to our web development and POS software / webstore integrations.

What is most interesting is the sales we are helping our customers achieve outside their usual trading hours. A retailer arriving in the morning at 6am to three sales totaling close to $1,000 is exciting. We hear about it because our retail partners like to share with us the success they are having. And we gratefully receive stories of their success because we know their success feeds into our success.

We have wonderful reference sites doing good business online thanks to the technology and backup business strategic advice we have provided.

Small business retailers can compete online, they can achieve sales they otherwise might have missed. They can reach into geographic locations where they are not known. They can easily serve these locations thanks to smart tools that make shipping each, transacting payments easy and providing personal customer service easy.

Helping and independent small retail business add thousands of dollars of gross profit to their bottom line in a year is a result we love here at Tower Systems. It is real thanks to the professional work of teams within our company in pursuit of our mission to help our small business retail customers to make money.

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INTRODUCING TOWER SYSTEMS – YOUR LOCAL POS SOFTWARE COMPANY

Tower Systems is an Australian POS software company that develops, sells and supports software for selected specialty marketplaces including toy, pet, produce, gift, newsagent, bike, garden and fishing businesses.

We only serve independent small retail businesses. This is important.

Our mission is to help retailers run more successful businesses. Our definition of success is a business that is making money, where the owners and employees enjoy what they do and where suppliers enjoy transacting.

Good software can play an important role in nurturing business success as it sits at the heart of the business: transacting sales, managing stock, tracking customer activity and shining a light on business opportunities.

What makes us different is how we engage. We go beyond what is traditional software company.

  1. We welcome working with product suppliers to create data links that save you and them time, data links that improve data accuracy, data links that feed more accurate business reports.
  2. We provide business insights based on data cultivated through the software – to business owners who ask. This is a free service.
  3. Our help desk provides context for advice. Rather than the turn it off and turn it on advice, our help desk team members explain the why, why from a business perspective the advice they are providing matters.
  4. Our software updates contain enhancements suggested and voted on by customers. You can have a direct say in the evolution of the software.
  5. Our communication is in plain English. While we are a company of IT geeks, when talking with customers we keep it simple. We know technology scares people. We don’t want it to scare our customers.
  6. We are accessible. You get to talk with real people all the time, including our leadership team.

We mention these capabilities today as they reflect what we stand for, what is important to us in our service of small business retail. Most important of all is our focus on small business retail, our commitment to helping small and independent retail businesses thrive as they compete with online a bigger retail businesses.

We take our mission seriously and personally. It is our reason for being in business. We are grateful to be of service to valuable and locally connected businesses.

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HELPING SMALL BUSINESS RETAILERS CUT EMPLOYEE THEFT

The theft reduction training video we produced in-house – How To Steal From A Retail Business – is being used by business groups to train their members on measures to take in retail shops to reduce the opportunity for employee theft.

In addition to the YouTube views, this video has been packaged and provided outside that platform for people to embed in conference presentations, one-on-one training and elsewhere.

Using your POS software small business retailers have excellent tools with which to reduce the opportunity for theft. These have existed for years. In addition to our software work, we act as expert witnesses in investigations and proceedings that successfully prosecute employee theft cases.

What matters is that theft can be reduced and even eliminated with good management oversight in any retail business using our POS software.

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HELPING SMALL BUSINESS RETAILERS CLEAN UP THEIR STOCK FILES

Tower Systems has a commitment to helping small business retailers using its POS software to clean up stock files, reduce inventory records and through this to focus on the dataset vital to the future of the business.

This work is part of our customer service commitment. It is included in our Tower AdvantageTM package of services.

Over time, stock files can become bloated with products once sold and no longer stocked. Stick files can also contain details of items provided by a supplier with a stock file, items never sold in the business.

The Tower Systems free assistance process cleans and washes the stock files, ensuring current and accurate data is maintained, removing the trash.

The result is good for small business retailers as it helps focus their attention on what matters to their business.

This is another free service from Tower Systems.

FYI it is on our mind this Monday morning because we have already helped one customer today with a stock file clean up.

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WHAT IS THE TRUTH ABOUT YOUR RETAIL BUSINESS?

The truth about your retail business is how it is performing now compared to the same time a year earlier. Not how you think it is performing or how you feel it is performing but how it is actually performing.

You are your most important competitor.

Report on the last period, usually three months, and compare this with the same period a year earlier. Look at revenue, units sold, traffic count, average sale value and basket depth.

Let your data be your truth, your only truth.

If someone in the business makes a statement about business performance, take a look at the truth for yourself and rely only on this for your planning.

If a supplier makes a statement about the performance of your business, take a look at the truth for yourself and rely only on this for your planning.

Next time you tell someone how business is doing, base it on the facts as facts are a currency on which you can bank and off of which you can plan.

Gut feel and opinion are nice, but they cannot be relied on as such as your own business data.

In the Tower Systems POS software there are excellent reporting tools that report the truth of business performance. We can help you access these and we can help you understand them.

We’re here to help.

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TOWER SYSTEMS AT SHOPTALK 2016 THIS WEEK

IMG_0036Some from the leadership group of Tower Systems are at the Shoptalk 2016 conference in Las Vegas this week. Shoptalk is a leading-edge conference bringing together 3,000+ retail and technology professionals to explore the future.

Our participation here for the four agenda-filled days is with particular focus on our constituency of small and independent retailers and how tech is evolving in service of their growth.

The event is halfway through and already there are valuable learnings and future-beneficial connections as we focus on continuing to deliver best-practice POS software to our 3,500+ customers.

The photo is from the presentation by Steven Lowy of Westfield – as fascinating insight into their extraordinary innovation.

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TOWER SYSTEMS POS SOFTWARE XERO CLOUD BASED ACCOUNTING INTERFACE HELPS SMALL BUSINESS RETAILERS CUT ACCOUNTING FEES.

The Tower Systems POS software xero cloud based accounting link is ideal for small business retailers keen to cut accounting fees – and who doesn’t want to cut accounting fees.

We use the xero cloud based accounting link ourselves in our own retail businesses so we live the benefits every day and can speak to ease of use, ease of setup and the value of strong results for the business from immediate access to up to date accounting data.

Developed to the exacting requirements of Xero cloud based accounting and established on the Xero cloud based accounting website as an approved partner, the Tower Systems POS software Xero cloud based accounting link makes it easy to feed sales data and other data direct from the POS software to xero cloud based accounting for a small business.

Setup is easy.

Use is seamless, in the background.

We have our own cloud based server as the bridge between our software and xero.

Data is accurate.

Speed is brilliant.

Reporting results are valuable.

This is a link small business retailers keen save time and money on external accounting will love. The link saves accounting fees by doing some work your accountant or bookkeeper might otherwise be doing for you. The link from within our POS software feeds data to xero seamlessly and in the background. No keystrokes required. Yes, real time is saved here.

We have accountants who have recommended us to their customers because of the xero link, accountants who themselves wholeheartedly endorse xero. We are grateful for these opportunities.

Xero as a company does not automatically bring on all software companies that connect to them. We are aware of they rejecting at least one POS software company. So, we are thrilled to be a partner and appreciate their engagement with us and their listing of us as a partner on their website.

What we are doing here with the xero link is another part of what we dub the Tower AdvantageTM, yes something we have trademarked because it is unique to us. Indeed, something so unique in our specialty retail channels and niches that we have protected it with a trademark.

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CUTTING RED TAPE FOR SMALL BUSINESS RETAILERS WHILE SUCCESSIVE GOVERNMENTS FAIL

While Australian politicians whip themselves into a frenzy during the eight week long election campaign, Tower Systems continues to deliver genuine time-saving Point of Sale software on which small business retailers can rely to save time and cut red tape in their businesses.

Using the Tower POS software, small business independent retailers are able to save time on everyday transactions in their businesses. This time saving is thanks to red-tape cutting facilities in the software, facilities designed to streamline processing, eliminate paperwork, reduce double handling and provide a smoother customer experience in store.

Whereas politicians talk about cutting red tape, here are Tower Systems we are delivering red tape reductions for small business retailers. The time savings delivered cover plenty of areas in small business retail including these.

  1. Lay-By.
  2. Special customer orders.
  3. Customer accounts.
  4. Ordering stock.
  5. EFTPOS processing.
  6. Account sales.
  7. Gift cards.
  8. Stock returns to suppliers.
  9. Stock returns by customers.
  10. GL / Balance sheet integration.
  11. Business performance tracking.
  12. Staff communication.

In each of these areas and more we focus attention on cutting keystrokes, reducing mistake opportunities and processing faster to save time for the business and its customers. What we help our customers save results in tangible benefits for each engaged business. This is a bottom line benefit.

Our savings come from careful analysis of workflow in the business, watching how people use the software and how they engage on both sides of the counter. The result is efficiency, real efficiency and not just the type of promise you get from politicians who talk and do not act.

On a table top function by function comparison, we are proud of how our software compares, of the benefits and efficiencies we deliver in the area of streamlined processing. The differences, time saved, mistakes eliminated and streamlined operation all mean a red tape busting benefit delivered by Tower Systems. This is what we dub the Tower AdvantageTM, yes something we have trademarked because it is unique to us. Indeed, something so unique that we have protected it with a trademark.

So when you hear politicians speak about cutting red tape, think about Tower Systems and the real difference it makes for small business retailers when it comes to cutting red tape for real. We are proud of what we do for our retail partners.

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HOW ANY SMALL BUSINESS RETAILER CAN GET SHOPPERS SPENDING MORE AND RETURNING SOONER

 

The biggest challenges of any retail business are to get shoppers spending more in a visit and returning sooner than might usually be the case. In this article by Tower CEO Mark Fetcher, we explore a simple yet effective tool.

All retailers, want shoppers to spend more in each visit and to come back more often.

Yet most retailers are uncomfortable overtly engaging with shoppers to get spend more in a visit or come back sooner.

Years ago, the thought was that a shopper VIP card or points based loyalty program was the way to go. Today, with such programs commonplace, their value is diluted.

There is talk among shoppers of loyalty fatigue – they are doubting the value of cards and programs where real rewards are not what was first offered.

Change the game: front-end loyalty

Instead of making shoppers accrue points that are then converted for cash at some future stage, why not offer cash-based rewards earlier, from the first purchase?

This approach is called front-ending loyalty. It brings a reward to the front in an effort to engage shoppers in additional purchases sooner.

It’s an approach that can encourage those who do not shop with you to purchase something else right away, to get the value of the cash discount offered.

Regular shoppers can spend the cash discount right away or come back within any time limit you set.

I started trialling this front-end loyalty strategy in February 2013 in several retail businesses. I did it using the Discount Vouchers facilities in the Tower POS software.

Building the basket

From the first day, in my own shop, I saw shoppers changing behaviour.

One customer came in to purchase a specific item. When I handed him the receipt I point out the voucher offering $2.00 of his next purchase. He was not a regular and so spent the $2.00, and more, right away on another item. He received another voucher and so purchased a third item. In all, he spent three times as much as the original purchase – all because of the Discount Vouchers he received.

Around 33% of all vouchers redeemed are used the day they are received. This shows customers building the basket – adding to their purchase that day as a result of the voucher. This makes each visit more valuable to us.

Bringing shoppers back

33% of redeemed vouchers are used within seven days and the remaining 33% are redeemed up to four weeks after issue, bringing shoppers back.

There is real evidence now from hundreds of retailers supporting these claims.

Here’s another real story: A few months ago, a customer came in and used a voucher she had picked up a couple of weeks earlier. She was happy to get $5.00 off a $65.00 item she wanted. This purchase resulted in another voucher so she bought another item for $29.95.

This customer said her friends had been recently talking about VIP cards and how they were useless. She then told them about us.

Changing how shoppers interact.

In another instance a customer was considering a $250.00 item but decided they could not justify the expense. They purchased some smaller items, spending $25.00.

On receiving a $5.00 voucher they turned around, immediately, and bought the $250.00 item.

We asked what happened. The answer was I don’t know. I needed permission I guess and the $5.00 did it.

This is a true story and there are many more like it in hundreds of retail businesses.

The key about discount vouchers is they change shopper behaviour, usually immediately and valuable for the business.

Indeed, discount vouchers are a game changer for many retail businesses, large an small, city and country.

We love hearing the stories of success from your customers.

You control the business rules

Like any good loyalty program, you need good levers with which to drive shopper engagement and to deliver the benefits to justify the investment.

The Discount Vouchers facilities have this.

You control the amount of each sale you are prepared to give away on the voucher.

You control the products the voucher can be used for.

You control how long the voucher is live for. I suggest 28 days but I have some retailers setting this at 90 days.

Helping your business

With most retail businesses running a loyalty program using a points based approach and only targeting long-term customers, adoption of this front-end loyalty approach can provide you with a genuine point of difference.

It is easily managed through the Tower Systems software and is backed by excellent management reports. This makes implementation and management easier than the old approach.

I’m confident this fresh approach to loyalty is a game changer for any retail business. The control you have enables you to easily manage the cost and the value you gain from the program.

This really is a new approach to bringing shoppers back sooner and getting them to spend more with you.

IMPORTANT FOOTNOTE: Beware of those who claim year on year growth or numbers of people in their loyalty program. What is needed is analysis of a series of metrics on a same store basis year on year, metrics that assess carefully what is in the sample basket. For example, including lottery products in a purchase value basket does not make sense – it creates a false result of little value.

Contact the author at mark@towersystems.com.au.

To find out more about how your business can compete a fresh approach to loyalty, talk with an expert at Tower Systems. They can share more stories. NSW/ACT/QLD: Nathan Morrison 0417 568 148; SA/WA/NT: Tim Batt 0401 833 917; VIC/TAS: Mike Hill 0423 848 482.

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