How many times have you, or your salespeople, responded to a customer request by saying, "We don't carry that item?" Or "I'm sorry, but that's not part of our service package?"
The number is critical, and if you don't know it, then you're losing profit potential. Sure, you might have stocked an extra item or two in the past in response to customer demand, but you need to get the practice down to a science.
To get started: Ask your sales associates to log every customer request and to question customers further to get at the heart of what they need.
Then, calculate how much you could sell if you had those items in stock. Meeting customer demand might involve spending some money on equipment or personnel to expand your product line, but remember, if you don't take those steps you might be sending your customers to the competition.
Use this checklist to track lost sales. Review the information every month and you'll soon get a better grip on your customers' needs and build a stronger bottom line.
Get in touch today and find out how we can help you meet your objectives.