Friday, October 23, 2015

Over the Counter (OTC)

Pictured: Sheldon "Shelly" Prial - circa 1940.
Shelly grew up in the apartment building above the
drugstore his father owned in Brooklyn. When Shelly
helped in the store, he would always wear a white shirt
and a bow tie.
The goal of every DME/HME dealer is make additional over the counter (OTC) cash sales. The key to this success is how the store displays merchandise in the showroom. The best time to see how this is this done is when you visit a good department store. What they do can also be done by every DME/HME dealer. When they do this the OTC sales will grow!

When you visit any of the major stores, pay attention to how their store is brightly lit. Notice how every segment of the store is carefully identified, which guides people where to find what they seek. The customer locates each department and should find all related products brightly displayed. Then you will notice how each item is clearly price marked. There is no question because the customer will know where it is and what it will cost them. That is what how “Over the Counter" cash sales are developed!

One of the successful ways I saw this done was by advertising that there will be a special guest attending from 10:00AM until 3:00PM. This always helps fill the showroom. The “guest” was from one of your vendors and they always come bearing “gifts”. A caveat is to be sure you have enough employees present so every attendee will be monitored!

How often you do this is critical. When to do this is equally important: an anniversary, a holiday (Christmas, Easter, etc.). If you offer this too often it will lose its attraction!

However, when you plan this carefully, have sufficient trained sales people on the floor, and work with a key vendor, it should be successful!

Will you be attending Medtrade next week? Don't forget to pack your bow tie for Bow Tie Tuesday on October 27th, in honor of Shelly's retirement.

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