How to improve your business

1. How to improve your BUSINESS in six easy steps Copyright © 2018 Ordorite | All Rights Reserved

2. 01 Increase average sale value by up-selling and cross-selling It is important to be able to spot opportunities where you can. Up-selling and cross-selling products to customers is an effective way of improving your margin. In-store sales staff or field sales reps can be prompted to up-sell and cross-sell based on customer type, linked products, technical information, promotional offers and discounts on multiple products. At any sale transaction, can you think of products you can up-sell to the customer and offer a richer version of the product they are buying? Can you think of products that you can cross-sell to the complimentary products? By doing this type of selling, you are creating awareness and familiarity with products, and enhancing the customer experience by engaging with their buying needs and creating a comfortable relationship with them, which leads to customer loyalty. Ordorite provides detailed customer history to show the products customers previously bought, so you can up-sell and cross-sell to the customer based on their individual buying habits. Ordorite also provides link purchasing reports so you can see just at a glance what products were sold together. customer to offer Average Sale Average Sale

3. 02 Retaining your exis�ng customers Get your customers back into store Getting customers into your store is one thing, making sure they come back again is another thing. With so many options for consumers to choose from, it can be difficult to keep customers’ attention and retain them as customers. The principle states that 80% of profits comes from 20% of your existing customers.This principle strongly applies to furniture and bedding retailers, and huge efforts should be spent focusing on existing customers to get them back into the store to repurchase again. Ordorite can certainly help retailers retain their existing customers, with our state of the art marketing module. This marketing module allows you to analyse your customers data and trends and guide you on how best to target your existing customers whether via SMS, email, text, mail drops, voucher and other incentives to get them back into the store. Retailers can avail of our prebuilt industry specific templates to send to customers to get them back into store. All of these can be quantifiably measured so that you can see the amount of customers that reconnect and revisit the store, how much they have spent, and how it increased your turnover. All of which are much more cost effective when targeted at an existing customer which trusts in your brand. long term 80:20 pareto

4. Cut out low-margin products and invest more �me and money into highly marginal products 03 This may sound simple, but cutting out low-margin products is a highly effective way to improve your margin for the long term. Having accurate data analytics and reports can show you which products are your best sellers and least sellers, which products are selling more than others and when they are selling. This type of information is vital for your business to improve and grow your margin. By focusing on highly marginal products, you will save yourself time and money by cutting out products that are not selling. Ordorite provides advanced reports for customers products are selling and not selling, if you have multiple store locations, where they are selling, what department is the best and least sellers, what ranges of that product are selling the most and least, what sales staff are performing the most and much more. to show what

5. 04 Automa�ng key business tasks Automating repetitive, time consuming tasks can save your business both time and money. For example, data entry can be an arduous task for any retailer, and can take up valuable time, where you could be focusing on more important aspects of your business. Having an automated software system can certainly free up your time for other business tasks. With this, automation of certain aspects of your business such as stock replenishment, management reporting or others, can give you live information about your business, giving you full control over what’s going on, and ultimately improving your margin for the long run. Ordorite offers retailers a complete management system automation is at the forefront. We offer a variety of automation reports, some examples being reordering and replenishment of stock, so retailers know when and what to order. Automation of management reporting, be it weekly or monthly, so you can get a bird’s eye view of your business growth and performance. An automated dashboard is also available, where you can see your performance by department, and by sales channels. where automation for

6. 05 Fast and efficient sales processing This sounds as easy as it is. Fast and efficient sales processes mean more time to improve margins. The faster and more efficient you can deal with a customer transaction, to more time you have to build a relationship with that customer, effectively giving you more selling opportunities for your business, improving your overall margin. If you are finding yourself having to make several phone calls back and forth to your warehouse to see what items are in stock, your customer is standing there becoming disinterested and you are wasting valuable time for relationship building. Inputting the customer information at the time of sale transaction also wastes valuable customer relationship building. Having a system which makes your sales process more efficient gives you more time to focus on other things, improving your margin for the long term. Ordorite provides retailers with a management system which allows smooth sales transactions. Retailers have the ability to access live stock across all stores and warehouses, so they know exactly what stock they have and where it’s located. With its fast and efficient Point of Sale, retailers can record sales quickly to ensure they have more time to build the relationship with the customer, enhancing the overall customer experience. Inputting customer information can be made easier, with existing information already stored in the system for quick access. customers

7. 06 Limit the discoun�ng Sometimes retailers may find themselves giving discounts or using promotions to boost their sales, but in fact may find they are robbing themselves of profit just to improve cash flow. Retailers may start feeling desperate in the slow months of business and start giving discounts for products they may not normally give discounts for. It is important to analyse the industry you are in, and look at your business’ annual sales performance so you can determine when is the best time to give discounts, so you are not losing out, and improving your margin in some way. Having schedule in place makes you more organised in your business, so you have a clear structure of when you are giving discounts, and not just giving them to customers at random. a quarterly promotions Ordorite offers retailers discounting reports so you can analyse your discounting habits and essentially stop sales staff from over discounting products, giving you more control over your business.