Tag Archives: retail framework

7-Steps Retail | Service Framework

8 Apr

Running a retail or a service business sometime can be really frustrated if you do not have a plan or system on what to do.

In this post, I’m going to share with you a #simple, #easy_to_do framework that you can reference on.

Retail Framework.001

(click on the image to download the cheat sheet)

Framework breakdown:

There are 3 phases in this framework: – Discovery, Development & Delivery

1. (discovery) – Value: First you need to uncover the true reason #why (passion??) you started the business? Your passion is going to carry you through the entire entrepreneurship journey.

In the same time, what are some of the core advantage of your business? What are you good at? How these going to add value to your customer?

2. (discovery) – Target: Speaking of the customer, do you know exactly WHO is yours preferred customer? WHAT do they look like (psychographics)? And WHERE do you find them?

And very important: NOT everyone will be your customer, so DO NOT market to everyone, find your niche and.

3. (development) – Offering: This is where your actual products or services come in, you need to design your Product Ladder (from low entry to a high value) and how do your segmentize your product offering.

*(A full online marketing course is available that explains in details on how to create a complete Product Ladder that sells). Click here to enrol.

4. (development) – Channel (Marketing): make sure to breakdown your marketing campaigns into two separate strategies. The first strategy is to acquire NEW LEADS, and the second strategy is to generate recurring revenue from your existing customers.

*(I shared 100 different types of marketing strategies in this online marketing course, click to enrol.)

Service Framework.002

(click on the image to download the cheat sheet)

5. (development) – Margin: Following is to work on your business margin & costing. Do you know how much is your business gross margin? What will be your Break-even point? Do you have a discount strategy when you’re giving away discount?

*(Shared your thought on the comment box below)

6. (delivery) – Sales: One of the most important business element is to convert your walk-in customer into a buying customer. Therefore, do your business have a sales process wheater it is B2C (retail) or B2B (service), you need to have a sales process in place.

7. (delivery) – Experience: One final element of this framework is to create the unparallel customer experience that you could possible offers. Create an engaging human experience between your frontline members and the customers, a smiling face always help.

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