Author Archives: Susie

About Susie

Susie is a Management Accountant who specializes in helping small, ambitious businesses understand their finances. With a background in the food industry she has helped a number of Devon based businesses take control of their finances. If you would like a free chat call Susie on 07801 199 671 or email susie@poundlane.co.uk

Service with a smile

The latest Food For Thought workshop was run in conjunction with Food Drink Devon in March and looked at ideas for attracting and retaining customers in both retail and hospitality businesses.

The challenge for both retailers and cafes and restaurants is very similar; you still can’t eat lunch online, but increasingly customers’ expectations have altered dramatically due to the advance of Amazon, Ocado and numerous order online delivery services.

Barbara King faces that change everyday at The Shops at Dartington and generously shared her experiences with a thought provoking presentation focusing on how to stand out from the online crowd and retain a loyal customer base.

Customers no longer go to “bricks and mortar” shops purely for supplies; they want to enjoy spending their money and feel content about parting with it. Shoppers will always appreciate good value, but also our increasingly aware customers want to know the provenance and local/ ethical credentials of the goods they buy.

By explaining to customers why you have chosen particular products in the range you show that you are carefully curating the massive selection of options currently on offer so that they don’t have to look any further. This is easy to do with some simple signposting and labelling, and often producers supply their own material.

Creating a welcoming environment for customers is absolutely crucial to making them feel at home. We are all aware of the “have a nice day” style of customer focus, but independent retailers and eateries have an opportunity to use the initial greeting, maybe even just a smile and a hello, to show that they offer a unique service and genuinely care about their customers.

Finally, why not make it easy for customers to find a reason to visit again; give them a loyalty offer (free coffee on your 6th visit?) or tell them about future events (a postcard with an invitation to a launch event?) and stay in touch via a newsletter, relating new developments and other news.

Ultimately happy customers are returning customers, and happy customers will spread the word about you do to their contacts, all of which does the marketing hard work for you!

There will be more blogs summarising the topics discussed in March over the coming weeks and if you would like to find out about the next workshop, planned for autumn 2019, please leave a comment to let me know.

Choose your competition wisely

Every business has ideas about who the competition is, but how much thought has gone into identifying those competitors? And was it just guess work, or analysis of solid facts?

The truth is that choosing who you see as your competition has a really powerful effect on business strategy.

Obviously every business is unique and so there’s no easy tool for identifying the right competitors, but one of the things I do when I work with businesses is to ask them lots of questions. So I would like to share some of them here:

Currently who are your competitors? What is it that makes them competition?
The power of knowing your competition is understanding what they have that you would like to have. Greater market share? Greater recognition? More profit?


Who do these businesses see as their competition? And how do they see your offering?

Is that from your customers’ perspective or from your own?
What’s important to you, probably on the same list as before – market share/ recognition/ profit – is not necessarily what your customer sees as the main difference. They will value quality and service as well as price and it is important to understand whether they see price differences as a key decision maker.

Being clear about what is important to your target customers lets you see which comparisons are valuable in your decision making and what is purely distraction.

Are competitors a distraction? Can customers replace your product/ service with a substitute instead?
It’s not usually as simple as identifying a business in exactly the same location or market and even where there are competitors in the same market the “competition” from substitutes (customers replacing your product with something completely different) can be just as interesting.

Let’s take McDonalds as an example. They list their UK competition as:

  • Other fast food chains, obviously
  • Coffee shops
  • Traditional fish and chip outlets
  • So they are not just interested in the names that we immediately think of, but also other places that get in the way of potential customers choosing McDonalds. What stops your target customer buying from you?

    “Measure yourself by the people who measure themselves by you”
    Carter Chambers, The Bucket List (2007)

    Is your view based on current facts or marketing fluff?
    We are all guilty of this. The media (traditional and digital) is full of fabulous headlines about business successes in every sector and the huge sums of money raised in share sales. No-one ever released a press release that said “we made mistakes and lost a crucial customer so our plans have gone awry”!

    Recently I read an article in the business press which heaped praise on a growing SME for achieving 11% year on year sales growth. It was only at the end of the article about wonderful ongoing investment and new opportunities the author quietly mentioned the pretty sizeable losses that the business was still making, drawing me to the conclusion that sales growth was requiring big sacrifices from the owners.

    What does the future hold? Who are the rising stars in your market place?
    We can only ever be certain about the past, but what really matters is the future!

    A little more than just 10 years ago the big supermarkets were competing with each other to try to capture market share but then their battles were swept aside by the growth of the likes of Lidl and Aldi.

    How do you see your market changing in the future and how can you adapt? (Chances are you’ll be wrong here, but if you plan for something you will be better placed to react to whatever comes your way.)

    Most importantly: what are you going to do with this information?
    Can you see opportunities that you can exploit? Have you got strengths that the competition haven’t got? Maybe what you need to focus on is doing more of what you do best?

    At the end of the day what matters is how you’re doing now compared with how you did last time (last year, last marketing campaign, last product launch, etc) but by having good information you can make good decisions for the future.

    If I can help you work through some of these questions I am running free consultancy sessions across Devon over the next few months. Click here for more details.