Take Your Shop To The Next Level
With integrated marketing tools!
PawnMaster offer tools to help you increase revenue by marketing your shop.
PawnMaster is the industry-leading revenue generation software. We’ll help you take your pawnshop marketing program to the next level. Our software has been built using nearly 30 years of feedback from thousands of Pawn Brokers like you. We make it simple – we’re your one-stop-shop for getting everything you need to reduce your costs and maximize cash flow.
PawnMaster’s Text Messaging product will automate payment reminders via SMS text message to your customers’ cell phone, which can significantly increase payments and your redemption ratios. This helps with customer loyalty too, since customers view this reminder service as a courtesy. You can even use text messaging to let your customers know about a sale or let a customer know you have an item they’ve been looking for in stock. Further, you can set up security alerts for yourself and your management team to let you know when certain red-flag activities take place in your store, no matter where you are. All of this either saves you money or generates revenue.
Protection Plans provide both a sense of comfort to your customers making electronics purchases, and an additional revenue stream for you. You can also offer a Protection Plan as a negotiation tool, to add value to your inventory instead of accepting a deeply discounted offer.
Mass Inventory Update
Reducing Inventory prices can increase turns while INCREASING profits by moving MORE inventory. While pricing inventory higher may seem good on the surface, you could actually sell more items faster if you reduce the prices slightly. Remember, you are a retailer not a collector. Moving inventory is the key to any retailer’s success. Mass Update of Pricing allows you to reduce the price of an item type or everything in a certain location that has been in inventory for an excessive amount of time. You can do a weekend sale, or a full-out clearance to move old inventory. Not only does this increase revenues but it increases cash flow and lets you invest more in loans or elsewhere.
Customer Demographic Reports
If you are required to record race for police reporting purposes, you are already capturing customer demographics on pawns, buys and some sales types such as layaways. Try running Customer report #10 to see how much each customer demographic is spending in your shop. Sometime it is a real eye opener to see where the money is really at. You may adjust your marketing strategies based on your results.
Marketing Summary Report
You have to gather the data before you can measure it. If you are putting effort into marketing, then you should also train your employees to ask the customers how they heard about you. The employee should be selecting the appropriate “add type” on the additional information tab for each customer under “Referred”. Once you are in the habit of asking, you will be able to see how effective you are in your advertising by tracking how many loans and sales where driven by your marketing.
Aged Inventory Report
Knowing what items are not moving and tying up your money is key. Run inventory report #1, choose “Aged Inventory” and enter a date range to view a list of inventory. Often just moving the item to a new location in the shop will help it to sell. Remember, these items are tying up your money, taking up space and not doing you any good sitting on a shelf. Discount them and post them to Craigslist, or consider moving them onto the national market by listing them on e-bay.
e-foro eCommerce Integration
With e-foro, your employees will a tool to simplify the process of listing items out to e-bay and Craigslist. E-foro is fully integrated with PawnMaster so completed auctions are sold with just 3 mouse clicks and you will have reports of completed sales to know exactly how much revenue is being generated online. Templates are available to reduce employee errors and give your listings a nice, professional look.
Customer Loyalty Points
Many companies use loyalty points for customer retention. You can use points to entice customers to make payments on their loans; even to make payments on days that are typically slower for you. You can offer points for writing a loan, and take them away should the customer default. Customers accumulate their points and can redeem them in your store. With the Customer Loyalty Points module you have control. You choose how many points are needed to earn a dollar of store credit and how many points are earned for each transaction type.
Points can only be used to purchase inventory, increasing your inventory turns, but can’t be used to make payments on your loans. We never take away the juice.
If you want to add any of these modules to your PawnMaster service, or need help running the reports,
call us at 1-888-949-7296.
Get The Modules That Takes Your Shop To The Next Level!