Many mobility retailers believe that the coming winter will be one of the most difficult challenges for many years, but it is not an option to do nothing. Retail marketing consultant Mike Glynn shares his advice on how mobility retailers can spot opportunities to maximize sales.
By Mike Glynn
When you started in business, you had a dream. A goal. Maybe it was the flexibility of being your own boss, money, independence, or a sense of purpose. But sometime between your first day in business and today you’ve gotten engaged. Things haven’t turned out the way you planned. You are working longer and harder than you planned or expected. But guess that? You’re not alone.
The financial success of all businesses is broadly divided into five segments. All business owners are somewhere in this pyramid, where are you? Statistically, 80 percent of retailers “just get by” or “are broke,” presumably never planning it that way.
One feature that is missing from most companies in these two segments is how they market their business. Things have changed and now it’s not good to put out a big ad on the Yellow Pages. You have to play a different game.
Many mobility retailers believe that the coming winter will be one of the most difficult challenges for many years. How do you prepare for rising cost of living and an unpredictable supply chain that is mostly out of your control?
Some of you will take this as bad news and use it as an excuse. They might even cut back on marketing or ‘bury their heads in the sand’. Others will see an opportunity. Whichever side of the fence you fall on, doing nothing is not an option if you want your business to survive.
In the last two years, we have seen a massive shift towards online shopping and communications. Now that the genie is out of the bottle, there is no going back. So how do you build on that experience and stay connected?
Typically, in our industry, customers arrive late at your door looking for a solution. But what if you started building relationships with potential customers sooner?
Don’t fall into the trap of thinking that your customers don’t use the internet. They do, and this is a fact.
They won’t go to the library or pick you up at Thomson’s Local. They are asking Google and Alexa. In today’s market, you have to think differently.
You need to start marketing, and these seven rules of effective marketing have helped thousands of entrepreneurs just like you climb the pyramid. These rules give you a checklist, a roadmap, and a framework.
1. Make sure there is always a sale
Ideally, it’s a ‘stop him in his tracks’ offer that’s incredibly attractive to your customer and profitable to you.
It must be powerful enough for people to move, take the right action, and choose you. It is not enough to say who you are and what you do.
The offer does not have to be a discount. No one gets excited about a 10 percent discount. That’s a lazy offer.
Try to be creative with your offer. Make it memorable. Charge a premium or add value and scarcity. Surprise your customer with your perceived value, but make sure it’s profitable for you. Creating the right offer will drive responses, so it’s essential to put some thought into it and get it right.
2. Create a reason for your customer to respond, now
Deadlines work well here. Like… Only 10 days left to claim this offer… After the 31st, the price goes up to… Limiting the number on offer to the first 10 also gives the customer a reason to respond now.
3. Produce clear instructions for customers to respond to
Just give your customer one thing to do and don’t confuse people. Give your customers clear instructions on what you want them to do.
4. Traxk and measure your results
You need to make sure your marketing is working, so tracking and measuring results is crucial. There are three key strategies to facilitate measurement. The first is tracking phone numbers in every piece of marketing. They are really cheap so just use one phone number in one place.
Second, use vanity URLs that point to specific pages on your website.
Third, use separate email addresses, so you can see how many people respond. Once this step is in place, you will make informed decisions based on facts and not on intuition or opinion.
5. Follow up properly
When you launch your promotion, consider this. At any one time, statistically, only three percent of the audience is ready to buy. The others are not ready yet, but in most cases, they are forgotten or discarded, so you must have a proper follow-up.
Having a follow-up process that is systematic, consistent, and regular helps remind prospects that you are there. Following up keeps them engaged and close. In most cases, with tracking, you are giving up too soon. Whatever you are doing right now, try to do a little more.
6. Show the benefits
Don’t do it for yourself. Show your prospect how you can help them. Make it about how your product or service will benefit and solve your prospects’ problems.
7. Check the numbers
It doesn’t matter what you think or like, what matters is the result. The cost per sale is always more important than the cost per lead, so it is essential to know both.
Looking at and reviewing the numbers may surprise you, and having accurate measurements may uncover a golden egg.
Knowing these seven rules is very different from implementing them. But it is the implementation that makes the difference. It is implementation that moves you up the pyramid.
If you need help implementing the seven rules and moving your business up the pyramid, let’s talk. Call Mike on 01256 213021 or email [email protected].
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Many mobility retailers believe that the coming winter will be one of the most difficult challenges for many years, but it is not an option to do nothing. Retail marketing consultant Mike Glynn shares his advice on how mobility retailers can spot opportunities to maximize sales. By Mike Glynn When you started in…Liane McIvorLiane
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