“I keep hearing about all the different social media platforms. Where should I be marketing my business? There are so many! I simply can’t keep up.” I hear comments like that from busy floor dealers. It’s understandable because there are a lot of options available! If you’re struggling to choose a platform, why not focus on [...]
Statistically, when buying big ticket items ($500 or more), the average consumer spends 79 days on the path-to-purchase. 85% begin their path-to-purchase online. But, 82% of the time they make the actual purchase in a brick-and-mortar store. Therefore, in order to make sure that the path ends at your store instead of a competitor’s, it’s [...]
In 2016 Synchrony Financial did a Major Purchase study that focused on the path-to-purchase consumers take when they buy big-ticket items. (Big ticket is defined as $500 or more.) 85% of consumers begin their path-to-purchase online. 70% then visit a brick-and-mortar store. 82% make their purchase in the store. According to GE Financial, this entire [...]
In the first two installments, I compared a floor dealership to a hot air balloon. That balloon wants to float up into the sky, but the rope is anchoring it to the ground. The rope represents the number of hours you can physically work in your business. By cutting the rope, your business can soar [...]
Picture a hot air balloon lifting off the ground, but it can’t go higher than 60 feet because of the rope holding it down. The balloon is your business, and the rope is how many hours you can physically work each week. Your business wants to soar, but eventually, you reach the end of your [...]
How many of these statements sound familiar? “Business is slow, so I scramble to get more customers. The next month things pick up, and I stress out and work long hours trying to stay caught up, then things slow down, and the cycle starts all over again.” “I feel like I’m stuck at the same [...]
In Part 1 and Part 2, I presented strategies for developing and nurturing referral relationships with other businesses, and how those relationships can generate $250,000 to $1 Million (or more) in annual revenue with extremely low marketing costs. Essentially the goal is to round up, nurture, grow, and profit from a herd of businesses who [...]
In Part 1, I outlined why developing referral relationships with other businesses is such a powerful and important strategy for growing your business, and I presented two strategies for developing these relationships. Now let’s look at some additional strategies for developing and nurturing those relationships. 3-Step System Step 1: The unusual mailer. Send letters to [...]
“How many Realtors send you referrals?” I was on the phone with a dealer from Texas, and I was trying to determine from where his sales were coming. He mentioned that he worked with Realtors who send him referrals. “There are five that send me referrals pretty regularly,” he replied. “How much revenue did these [...]
In Part 1 I told the story of Earl Swalm, a dealer from Canada who increased his revenue by 50% and cut his work hours in half. In Part 2 I covered some of the strategies he used to grow his revenue. In this installment, I’ll discuss how he was able to cut his work [...]