Even with dealers in some markets experiencing relatively high sales volume, now is a very challenging time to be in flooring retail. Box stores and online discounters continue to create downward price pressure, and many local retailers attempt to compete by cutting margins and using cheap-price advertising. However, by using the right strategies, getting margins [...]
“I have to cut my margins to compete,” a floor dealer recently complained to me. This is something I hear fairly often. So what’s the solution to preventing margin erosion in a market full of box stores, online discounters, and other cheap price competitors? In a word: differentiation. If you don’t create differentiation, you are [...]
In this installment, I continue with a series of interviews with industry leaders on what they see successful retailers doing to grow their sales, keep margins up and beat the boxes. In the last interview, I sat down with Bob Eady, President of T&L Distributing headquartered in Houston, TX, to get his perspective on what [...]
With competition from box stores and online dealers, rising costs, and pressure to cut margins, flooring retail is a tough business, especially if you don’t have the right sales and marketing systems in place, referral customers are key. I interview industry leaders on what they see successful retailers doing to grow sales, keep their margins [...]
Dealers are finding it more difficult and expensive to get new customers through advertising. That's why to maximize your success, it’s critical that you maximize the dollars you generate from every sale to maximize your advertising ROI (Return On Investment). Nevertheless, my informal polling of dealers that attend my live seminars and webinars has shown [...]
Over their 30 years in business, FC News has presided over massive changes in what constitutes effective advertising for flooring retailers. 30 years ago dealers could run a newspaper ad with a special offer and generate enough immediate business to make a profit. The same with direct mail to a purchased list, display ads in [...]
Do you know what the letters USP stand for, and how they can change your life for the better? If not, read on! In all your marketing you should strive to answer the SINGLE question that every prospect has running around in their mind (like a hamster on an exercise wheel) - “Why should I [...]
“Jim, I have a Facebook page, but I’m not getting much business with it. I think I could be doing more with my page to generate sales. What do you suggest?” I was on the phone with a floor dealer helping her prioritize her marketing when she asked me this question. This question is posed to [...]
In Part 1, I told the story of Craig Bendele, a dealer from Florida who increased his revenue 50% each year for the past two years, while at the same time drastically cutting his work hours. Then in Part 2, I covered some of the sales and marketing strategies he used to get this impressive growth [...]
In Part 1, I told the story of Craig Bendele, a dealer from Florida who increased his revenue 50% each year for the past 2 years, while at the same time drastically cutting his work hours. In this installment, I’m going to cover some of the strategies he used to get this impressive growth in [...]