Apr 9, 2014
SAF’s Retail Growth Solutions Explores Why Pricing Matters

Along today's fine line between profit and loss are pricing "sweet spots" - positions that attract cost-conscious consumers and generate more money. Retail trainer Jim Dion will help florists find those points during a double-header opening session at SAF Retail Growth Solutions, June 10-11 in Chicago.

Along today’s fine line between profit and loss are pricing “sweet spots” – positions that attract cost-conscious consumers and generate more money. Retail trainer Jim Dion will help florists find those points during a double-header opening session at SAF Retail Growth Solutions, June 10-11 in Chicago.

“We’re going to start by talking about the psychological implications of pricing and strategies florists can deploy to attract a price-conscious consumer without lowering the price,” said the president of Dionco Inc. He’ll also explain the common price-cutting mistakes retailers make “that will eventually put them out of business.” Dion then turns the spotlight on tactics florists can use to capture more business from existing customers.

“Small changes in your sales approach can make a big impact,” he said.

“Adding just one item per sale, on average, will increase sales 15 percent.” Also on the agenda for florists at SAF’s 36-hour mini conference: Online Branding: Beyond Facebook According to SAF Chief Information Officer Renato Sogueco, it’s no longer enough to have a website and Facebook page.

Today, “you need to secure your brand on Twitter, YouTube and all the other social media sites – even if you don’t actively use them,” said Sogueco, whose program will cover the essentials needed to create, monitor and maintain an effective online brand, along with the importance of consistency and common branding mistakes that undermine search engine optimization.

Treasure Hunt: Finding Your Hidden Profits Florists who know where to dig can uncover a gold mine of unrealized profit, according to floral financial expert Derrick Myers, CPA, CFP, PFCI president of Crockett, Myers and Associates. His presentation will take attendees deep inside the six main cost centers of a floral shop for a close look at cost of goods sold, labor, delivery, occupancy, marketing and wire service business.

Florists will learn how to track, measure and adjust costs, and they’ll take home worksheets, formulas, expense targets and other practical tools. CSI: Flower Shop – LIVE! During the conference, sales and service expert Tim Huckabee, president of FloralStrategies LLC, will bring his popular Floral Management column to life. Attendees will listen in as Huckabee makes live secret shopper calls to other florists, and then they’ll talk about the “good, bad and ugly” of each conversation and learn best practices to help their own salespeople increase sales and customer satisfaction. Designing for Profits During his practical presentation on cost-effective design, Tim Farrell, AAF, AIFD, PFCI, owner of Farrell’s Florist in metro Philadelphia, will explain how to maximize cost of goods and dish on time-saving (and time-wasting) design techniques.

He’ll also share profit-maximizing pricing strategies, tips to boost profit margins on lower-priced orders, essential design tools and more.

For details about Retail Growth Solutions, visit http://www.safnow.org/retail-growth-solutions or download the brochure.