Turnover is vanity, profit is sanity - Richard Miller

Richard Miller - "Building Brands & Selling Stuff"

This show is about understanding closed sales margins and distinguishing sales from profitability.  Should it be a sale at any cost? Does discounting make sense?
When should you let it go? 

1. SETTING THE SCENE.

The way we position our products and services in the market can have a huge impact on short- and long-term profitability. The quick sale or sale at any cost mentality can work for an immediate shot of adrenalin. But how do we determine sale and brand strategies that both shift product and maintain integrity? 

In today’s show, I’m joined by Adrian Manera, Managing Director of the highly successful retail furniture chain, Haggle Co. Home + Furniture as well as other businesses for his take…


Today we will cover issues relevant to a stage 4 business owner such as:

• Knowing how much sales cost
• When is discounting appropriate or not appropriate?
• How do you balance making a sale with maintaining brand and product integrity?

 

1. WHY?

 

• Why is understanding closed sales margins important?
• Why would you ever say no to a sale?
• Why do some retailers promote being always on sale whereas others tend to never discount?

 

1. WHAT YOU NEED TO DO

 

• Know how much your sales cost
• Understand what you actually make on each sale
• Understand your closing ratio
• Know how much it costs to service your new client
• Know when to let go

 

1. HOW?

 

• Figure out how far your GP will stretch
• How do you decide when discounting is appropriate?
• How do you maintain brand integrity and company values whilst discounting products?
• How can you say no to a customer without causing offence or brand damage?

 
Written by - Richard Miller – Brand Director, Crisp & Co.

Business insight, creative content and strategic communication specialist.
Richard started his first business at the age of 14 and has thrived on creating and building entrepreneurial opportunities ever since.
He began his advertising career as Agency Sales Executive for TV network Channel 10 in 2006. 

Experienced in both media sales and buying, Richard was responsible for multi-million-dollar media accounts as National Media Manager for Iceberg Media before co-founding Crisp & Co. in 2009 (formally Crisp Advertising). 

Taking a pragmatic and results focussed return on investment approach has established Crisp & Co. as the go to creative and communications agency for local and national businesses seeking expertise in business insight, creative content and strategic communication. 

With a lifetime of experience operating small to medium businesses and working closely with both local and national brands, Richard is well positioned to take a holistic view of a full marketing and sales plan with a keenly trained eye on creative concepts and communication strategy.

Along with wife and work colleague Siobhan Miller, Richard also co-hosts the podcast series Mad Man & The Hospitalian; interviewing highly successful professionals from business, marketing and hospitality backgrounds around Australia, discussing the highs and lows of their careers and asking the ultimate question; ‘what is your definition of a fruitful life?’.

Find out more about Crisp & Co. here www.crispand.co and listen to Mad Man & The Hospitalian wherever you get your podcasts. Connect with Richard on LinkedIn
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