June 9, 2021

Ending the Financial Year on a High Note

It seems like just yesterday we at Above Benchmark were celebrating a new calendar year, with new clients and exciting prospects. Now June sees us preparing for another fresh start: the new financial year. Even in our Mystery Shopping industry, which is already heavily introspective by nature, June sees our team deep-diving into analytics, acknowledging patterns from the year, and helping to provide a strong direction for our clients with a view to increased sales growth.

June also finds us looking for ways we can maximise our own growth, by reaching out to lost leads, streamlining our systems and practices, increasing our field team of Mystery Shoppers, and offering additional services to clients. Finishing strong is the greatest morale booster, but EOFY doesn’t need to bring with it the panic of cramming everything in for one last hurrah. Does your business have a set plan on how to maximise June profits without losing sight of its core values and customer focus?

Here are 3 simple steps to increase sales over the next few weeks of June to finish strong:

1) LISTEN

We can send in trained mystery shoppers, finely tuned to your customer service expectations, but your greatest resource is your current customer database. When they take the time to visit or call you, have a chat, ask questions, find out more about who they are and what that says about your business. This is why our mystery shopping surveys focus on how the Team Members engage with customers and qualify their needs. You may even uncover a previously unknown need that your business can fill.

2) EDUCATE

Your customers know the part of the business that immediately affects them. For retail, that may be the garment they liked in your catalogue. For quick-service restaurants, it may be the main meal they always order. For business-to-business it may be the service they first signed up for.

You won’t lose a customer because you educate them about your business. Through their choice, they are already a stakeholder so you need to relate to them assuming they want to hear about other services (products, menu items, etc.) you offer. Don’t be afraid to offer add ons. Suggest the side to go with the main or point them towards the great special for that day. Show the customer the shirt that would go well with the pants they like. Offer customer satisfaction surveys to accompany the mystery shopping program (oh, that last one is us!) They want to know this stuff.

3) SELL

So this one’s a bit obvious, but you’d be surprised at the number of times a sale slips through a business’s grasp because a Team Member didn’t actively sell. There are so many ways this happens, too many to cover with a deadline looming, but a handful are:

  • make customers the first priority for the rest of the month
  • recommend ‘solutions’ to their needs
  • use features and benefits and real stories when discussing products or services
  • build credibility in the recommended solutions and the company itself
  • tell customers about clearance items, new items and promotions
  • close the sale, directly or indirectly
  • be honest and helpful, serve customers like you’re serving a friend

Regardless of the time of year, the focus of any business should always be on creating the best possible customer experience. The bottom line will be the happy result of loyal and valued customers. If you take the time to listen, educate and sell to your customers, you’ll notice a difference as you reach the finishing line and slide into July with a solid start. Our team at Above Benchmark would love to help you in the new financial year. Contact us for more information.

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