18 January 2009
When a Store Closing Sale Isn't Enough
Jan/22/2009 09:58 Filed in: Store Closing
Sale
When A Store Closing Sale Isn’t Enough.
In this economy, sometimes a Store Closing Sale might not raise enough cash to handle all of your needs. If your debt level is part of the reason, I ask you to consider orderly ways to cash out of your debts, achieved with savings of 20% to 80% of what you owe. You’ll be able to sleep nights without need of having further contact with your selected creditors and their demands.
Should you elect to stay in business, you can do so while relieved of current debt. And in any event, you’ll avoid the stigma of bankruptcy for you and your business.
Did you now? Credit card, medical, leases, personal and business debts, even liens, lawsuits and judgments can be settled at a savings. Most debts can be relieved at a discount, while clearing your name and conscience. You borrow no money, and reduced payments may be made over time and without interest. Creditors can be satisfied, accepting as little as 20 cents on each dollar you owe. This is not debt consolidation or refinancing; instead it is settlement achieved confidentially for you and you are always in charge of your money.
Here’s how it works: A Professional Debt Manager (PDM) is an experienced negotiator who, when retained, studies all aspects of your situation. With each debt, determination is made as to whether you desire to pay in full over time or prefer discounted settlements. The PDM, having obtained limited Power of Attorney from you, serves as an authoritative third party hired to achieve acceptance from creditors you electively assign. The PDM will immediately stop calls, letters and demands from such selected creditors, their agents and their attorneys. Using negotiation skills, the PDM obtains settlements, presents them to you for approval or disapproval. Their fees are based on the savings they negotiate for you. If you aren’t happy with the settlement, you disapprove it and you owe nothing.
When debt loads are out of control, Solutions For Retailers, recommend this tool to its clients. Our job is to help you put more money in your pocket at the end of the sale. We have several excellent PDM firms that we recommend as a result of their performance for our clients in the past. Call us for that recommendation if your debt load is out of control.
In this economy, sometimes a Store Closing Sale might not raise enough cash to handle all of your needs. If your debt level is part of the reason, I ask you to consider orderly ways to cash out of your debts, achieved with savings of 20% to 80% of what you owe. You’ll be able to sleep nights without need of having further contact with your selected creditors and their demands.
Should you elect to stay in business, you can do so while relieved of current debt. And in any event, you’ll avoid the stigma of bankruptcy for you and your business.
Did you now? Credit card, medical, leases, personal and business debts, even liens, lawsuits and judgments can be settled at a savings. Most debts can be relieved at a discount, while clearing your name and conscience. You borrow no money, and reduced payments may be made over time and without interest. Creditors can be satisfied, accepting as little as 20 cents on each dollar you owe. This is not debt consolidation or refinancing; instead it is settlement achieved confidentially for you and you are always in charge of your money.
Here’s how it works: A Professional Debt Manager (PDM) is an experienced negotiator who, when retained, studies all aspects of your situation. With each debt, determination is made as to whether you desire to pay in full over time or prefer discounted settlements. The PDM, having obtained limited Power of Attorney from you, serves as an authoritative third party hired to achieve acceptance from creditors you electively assign. The PDM will immediately stop calls, letters and demands from such selected creditors, their agents and their attorneys. Using negotiation skills, the PDM obtains settlements, presents them to you for approval or disapproval. Their fees are based on the savings they negotiate for you. If you aren’t happy with the settlement, you disapprove it and you owe nothing.
When debt loads are out of control, Solutions For Retailers, recommend this tool to its clients. Our job is to help you put more money in your pocket at the end of the sale. We have several excellent PDM firms that we recommend as a result of their performance for our clients in the past. Call us for that recommendation if your debt load is out of control.
Good Promotional Tool
Jan/19/2009 09:26 Filed in: Marketing
for the Small Retailer
A Good Promotional Tool
Here’s a good tool that has produced good results for our client’s. It’s simple and easy to use. It’s designed to get the customer to return to the store quickly and more frequently. Here’s how it works – it starts after a customer makes a purchase.
Let’s say a customer makes a total purchase today for $200 and it is made up of several items. You, the store, gives the customer a coupon for 10% or 20% of the purchase that they just made. That coupon must be used within 10 days.
So the customer that just spent $200 dollars gets a $20 or $40 gift card. The card can’t be used the day of the original purchase but has to be used in the next ten days. Very few people will throw away $20 worth of FREE merchandise so they figure a way to get back into the store.
The customer has a very good reason to come back. The rate of return on these coupons is almost 70%. That’s a bunch of people that wouldn’t of come back at all.
I know, many of you are saying that this is no big deal, all you’re doing is giving away 20% and you know that they will only come in and spent the $20 and leave.
Well really what happens is – that customer is really getting a much smaller discount than you think. The % off is spread between two purchases, not one.
But that’s not really the important point. Although the customer who comes back in only plans to spent the $20 gift card, 93% of those customers will exceed that amount.
Which % discount should you give? It should be whatever the amount that is enough to get the customer back in the store in 10 days. Some stores have used a sliding scale. 20% under $100 and 10% or 15% over $100, it needs to be enough to motivate them to come back.
If you are having trouble increasing or maintaining your customer traffic in this tough economy, try it. There are a lot of ways to modify it to make it work for your store, but the whole idea is to get that customer back in to sell them more.
Here’s a good tool that has produced good results for our client’s. It’s simple and easy to use. It’s designed to get the customer to return to the store quickly and more frequently. Here’s how it works – it starts after a customer makes a purchase.
Let’s say a customer makes a total purchase today for $200 and it is made up of several items. You, the store, gives the customer a coupon for 10% or 20% of the purchase that they just made. That coupon must be used within 10 days.
So the customer that just spent $200 dollars gets a $20 or $40 gift card. The card can’t be used the day of the original purchase but has to be used in the next ten days. Very few people will throw away $20 worth of FREE merchandise so they figure a way to get back into the store.
The customer has a very good reason to come back. The rate of return on these coupons is almost 70%. That’s a bunch of people that wouldn’t of come back at all.
I know, many of you are saying that this is no big deal, all you’re doing is giving away 20% and you know that they will only come in and spent the $20 and leave.
Well really what happens is – that customer is really getting a much smaller discount than you think. The % off is spread between two purchases, not one.
But that’s not really the important point. Although the customer who comes back in only plans to spent the $20 gift card, 93% of those customers will exceed that amount.
Which % discount should you give? It should be whatever the amount that is enough to get the customer back in the store in 10 days. Some stores have used a sliding scale. 20% under $100 and 10% or 15% over $100, it needs to be enough to motivate them to come back.
If you are having trouble increasing or maintaining your customer traffic in this tough economy, try it. There are a lot of ways to modify it to make it work for your store, but the whole idea is to get that customer back in to sell them more.