How to Increase Revenue at the Point of Sale

For this month, Mitchell Levy (@HappyAbout), The AHA Guy at AHAthat (http://AHAthat.com), is joined by #ThoughtLeaders John Dunlap (@JohnCDunlap), CEO of Iconic Attractions Group (http://iconicattractions.com), and Marty Desrochers (@IconicMarty), President of Operation: Pineapple (http://operationpineapple.com). This month’s #TLL episodes concentrate on helping businesses increase revenue at the point of sale. John and Marty, who both have a background in the themed-park business, share impressive and helpful tips on how to increase sales no matter what type of industry you’re in. They emphasize how important it is to effectively develop functional revenue management techniques for your firm. There’s a high level of uncertainty in today’s dynamic hospitality market, and that is why it’s vital to sell the right products to the right consumers in the right place, at the right time, and with the right packaging.

The blog with embedded audio and video:
https://thoughtleaderlife.com/thoughtleaderlife/thought-leader-life-125-guests-john-dunlap-and-marty-desrochers/
Watch: https://youtu.be/wJKeQtUaADg
Listen: http://traffic.libsyn.com/fir/FIRThoughtLeaderMM-125.mp3

In episode 126, Mitchell, John, and Marty interview #ThoughtLeader Gil Perez (@GPerezHome), Director of Film and Guest Operations at the Museum of Science and Industry (http://www.msichicago.org). As a true industry leader who is always thirsty for knowledge, Gil emphasizes that all the elements of price and cost management must be aligned in order to maximize revenue. He also states that it is clever to treat your employees as your best customers. If they are consistently engaged and treated with dignity and respect, they will also take care of your company, their colleagues, and customers. Your patrons might be the reason why your business survives, but those people won’t exist without the dedication and hard work put forth by your employees. You must cultivate a company culture that encourages employees to do more, increase productivity, and leave customers happy and smiling. Engaged employees are enormously impactful to your organization’s overall success. That’s why it’s important to develop stronger management teams to make your business more profitable.

The blog with embedded audio and video:
https://thoughtleaderlife.com/thoughtleaderlife/thought-leader-life-126-guest-gil-perez/
Watch: https://youtu.be/prxchaTcR3o
Listen: http://traffic.libsyn.com/fir/FIRThoughtLeaderMM-126.mp3

In episode 127, Mitchell, John, and Marty exchange insights with #ThoughtLeader James Ford, Category and Revenue Growth Management professional for consumer packaged goods. James, who has an experience in working with companies like Red Bull and Coca-Cola, shares thought-provoking ideas and smart tips on how to significantly improve sales, meet the needs of consumers, and hit business goals. He also believes in being consistent and objective when working with retailers, as they also play a big factor in making your business successful. Retailers are the ones who help wholesalers get their goods distributed to consumers and maintain direct contacts with them. They develop personal relationship with consumers, inform them about new products, and even replace goods when complaints arise. So as a business owner, you can successfully maximize revenue by being locally relevant, giving people a purpose to go to your store, focusing on how you promote what you sell, and always doing research.

The blog with embedded audio and video:
https://thoughtleaderlife.com/thoughtleaderlife/thought-leader-life-127-guest-james-ford/
Watch: https://youtu.be/AY4AHurVxvo
Listen: http://traffic.libsyn.com/fir/FIRThoughtLeaderMM-127.mp3

In episode 128, Mitchell, John, and Marty have a content-driven discussion with #ThoughtLeader Bill Lee, General Manager of Benchmark Hotels and Resorts (http://benchmarkresortsandhotels.com). Bill, who has over two decades of hospitality leadership experience, highlights the importance of having a well-balanced relationship between customer satisfaction and product quality, cost, and safety. So why is quality important in business? Of course, the eminence and grade of your products is crucial to make your consumers satisfied, retain their loyalty, and keep them buying more. They are also the drivers for you to charge or maintain higher prices. The industry is changing rapidly, and today, customer experience seems to be a big topic in business. People now have more choices, their habits are changing, and they are more demanding. We now live in the age of information, where people can know about your services or products by simply clicking into social networks, online reviews, and mobile web access. That’s why it’s important to give consumers a superior buying experience — it’s where the future of marketing and advertising lies.

The blog with embedded audio and video:
https://thoughtleaderlife.com/thoughtleaderlife/thought-leader-life-128-guest-bill-lee/
Watch: https://youtu.be/z4ZosWsqqNs
Listen: http://traffic.libsyn.com/fir/FIRThoughtLeaderMM-128.mp3

In the final episode (129), Mitchell, John, and Marty have a thought-provoking session with #ThoughtLeader Hamendra Arora, Senior Director of Revenue Growth Management at companies like Coca-Cola, ACNielsen, and Miller Coors. Hamendra, who has solid strategic and analytical abilities to resolve difficult situations, makes a point of how a well-managed revenue management technique plays a significant role in accomplishing your business goals and making it profitable while maintaining a good and healthy relationship with customers. He also points out that the prices of your products must be based on quality, demand, and supply, not greed. Costing, however, is more of a mathematical exercise, and pricing is a more of an art than a science! You need to know how much it really costs to manufacture your products and price it based on value without sacrificing quality. Your price even tells a story: what your profile is, who your target customers are, where you want to position your business, and what the value of your products or services is.

The blog with embedded audio and video:
https://thoughtleaderlife.com/thoughtleaderlife/129-guest-hamendra-arora/
Watch: https://youtu.be/R-XrbdMoIXs
Listen: http://traffic.libsyn.com/fir/FIRThoughtLeaderMM-129.mp3

If you want your business to take a new leap, then take time to listen to these five episodes of #TLL to know how revenue management is being applied to different types of industries and how they share a common purpose: to boost profit and satisfy customers. For your business to thrive despite ever-changing marketing qualifications and customer demand, you have to develop a well-managed business plan and cultivate a company culture that engages employees and satisfies consumers.

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