I just reviewed my Teleflora business for the year...and I found some interesting things. I am not afraid to put it all out there, because I think we can all learn from one another...and I have no pride...or rather no shame. HA! I apologize for the long post, but there is a lot to be gleened from this info, I think.
The number of incoming orders...including national marketing orders...was up 4%, although the revenue from those orders was down 2.4%. So, we are getting more orders, but at a lower dollar value.
The number of my website orders was up by 6.4%, but revenue from those orders was up 17%. So, people are using the web more frequently, and spending more when they place orders that way. I personally think that people might have a particular price point in mind when they begin the process, but are swayed to spend more when they see a picture of what they want and are willing to up their spend to get that item. So, we have to carry a wider selection of flowers so that we can do the arrangements on the site, or limit what is shown so as to not disappoint. If we don't, we lose the opportunity to gain more $ from orders.
My outgoing was down 27% and the revenue from that down 28%. What that tells me is that people are placing their own orders online through OG sites or googling a florist in a particular community and going direct themselves....or I suspect that we might also be doing more direct orders with our own CC because small town shops are dropping wires services.
Overall, my revenue/profit using the WS calculator, was up .76% for the year. I read every statement with a fine tooth comb, and challenge anything I don't feel is fair. I also cut way down on the number of containers I get from them because for my market, it is hard to wrap up $15 to $20 in just a container on a $30 to $50 order...which is the average price for my market. I only got the 24-pack Kinkade for Christmas and sold out. I am not getting any Mother's Day, because I still have last year's containers, and the price point is too high for my market.
I hope you all find this helpful, and will take some time to evaluate your own statements to ensure being a part of it makes sense for you. All in all, I am happy that we saw some slight growth in the midst of a recession...and for the biz that came in w/o wire service, we are flat as well. Again, in a recession, I am pretty pleased with that...paid our bills, had two competitors leave the market, and now I will focus on using this info as I plan my growth.
The number of incoming orders...including national marketing orders...was up 4%, although the revenue from those orders was down 2.4%. So, we are getting more orders, but at a lower dollar value.
The number of my website orders was up by 6.4%, but revenue from those orders was up 17%. So, people are using the web more frequently, and spending more when they place orders that way. I personally think that people might have a particular price point in mind when they begin the process, but are swayed to spend more when they see a picture of what they want and are willing to up their spend to get that item. So, we have to carry a wider selection of flowers so that we can do the arrangements on the site, or limit what is shown so as to not disappoint. If we don't, we lose the opportunity to gain more $ from orders.
My outgoing was down 27% and the revenue from that down 28%. What that tells me is that people are placing their own orders online through OG sites or googling a florist in a particular community and going direct themselves....or I suspect that we might also be doing more direct orders with our own CC because small town shops are dropping wires services.
Overall, my revenue/profit using the WS calculator, was up .76% for the year. I read every statement with a fine tooth comb, and challenge anything I don't feel is fair. I also cut way down on the number of containers I get from them because for my market, it is hard to wrap up $15 to $20 in just a container on a $30 to $50 order...which is the average price for my market. I only got the 24-pack Kinkade for Christmas and sold out. I am not getting any Mother's Day, because I still have last year's containers, and the price point is too high for my market.
I hope you all find this helpful, and will take some time to evaluate your own statements to ensure being a part of it makes sense for you. All in all, I am happy that we saw some slight growth in the midst of a recession...and for the biz that came in w/o wire service, we are flat as well. Again, in a recession, I am pretty pleased with that...paid our bills, had two competitors leave the market, and now I will focus on using this info as I plan my growth.
