“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 the first installment you learned how Earl Swalm, a Canadian floor dealer, took control of his business and grew it by 50% in one year, while at the same time cutting his work hours to less than 35 per week. In this installment I’m going to cover the sales and marketing strategies Earl used [...]
I was planning a recent business trip and, like I always do, I checked the reviews of the hotels where I was considering staying. It was second nature, as much a part of making my decision as checking a hotel’s availability, pricing, amenities, etc. I do this for virtually any new service or product I’m [...]
I was on Amazon recently to purchase individually-wrapped computer screen cleaners. Trying to decide between over a dozen options, I read several online reviews to help me decide on what turned out to be a $19 purchase. How many times have you done the same thing for minor purchases? For that matter, how many times [...]
“If ten people walk into your store, how many wind up buying?” is a question I often ask dealers. The national average is about three in ten, so this gives me a benchmark. I know dealers who close seven or eight out of ten - more than double the national average. How is that possible? [...]
“Whenever I hear dealers claim closed sale ratios of 70% or 80%, I don’t believe them because the national average is only around 35%.” I was on the phone with a floor dealer who needed help closing more sales. He made that statement after I told him about dealers I know personally who are getting [...]
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 [...]
“We need a systematic plan for attacking our marketing,” Matt M., a floor covering dealer from Arizona, told me. Steve N., a dealer from California, added, “Foot traffic is bad. We just want at least seven customers a day. We get two to three customers and it becomes difficult to stay motivated.” Both of these challenges [...]
As I covered in Part 1, the vast majority of sales in the $20,000 range and above don’t come from advertising. They come from repeat customers and their referrals. In this installment, we continue with strategies and principles for magnetically attracting high-end, high-margin sales. Marketing to your past customers. Over the years you’ve most likely [...]
During my webinars and seminars, I often ask attendees to think back to the last ten residential remodel sales they made that were over $20,000. I then ask this question: How many of them came from repeat/referral customers vs. advertising? For virtually everyone in the group, the answer is that 80% to 100% of their [...]