What will it take to succeed in 2011?
First and foremost, it is always customer service, not getting complacent, and taking an objective look at how our businesses can improve. In regards to product, it will take stocking the most innovative products that will entice customers to trade in their used firearms for the "latest and greatest." Also, we must understand our customers, and reach into the toolbox to see what we are able to offer in trades, layaway and/or financing.
What do dealers need from manufacturers and distributors?
Forecasting. Manufacturers need to work with dealers to be able to forecast purchases, rather than the old tried and true: Load up in January and hope to sell everything by December. They need to understand that this is actually better for them in the long run, and will result in more sales throughout the year.
Stocking Dealer Programs. Present a simple and appealing stocking dealer program, one that does not take a lawyer to figure out. Also, don't limit yourself. It may warrant coming out with another program in the fall, as well. Remember, we have to be aggressive all year.
Consumer Promotions. Have effective consumer promotions that drive traffic into the dealer's store, whether it is a rebate, extra magazines or something else. Make sure it is appealing to the customer, that our staff is educated on the promotion, and the promotions are consistent and not predictable--no one wants a customer who is holding off on purchasing your product because they know you always have the same program every April.
Events. Develop a good, effective formula for a successful event for dealers. It should have the following components:
* Co-op advertising.
* An exciting representative who is educated on your product, who can engage customers and who can win them over to your product.
* A giveaway/raffle item that gets people in the doors. If it is a firearm, it does not need to be the most expensive model. Since it is a giveaway item, that money would be better served with advertising.
* Involve one of your distributors in the event. If they can offer extended terms or something else, that would be another bonus.
* Most important, follow up with the dealers and critique yourself. You may think the event went well, but how did the dealer feel? Did you leave them with too much inventory? Was your rep the equivalent of a pet rock? How did they advertise? Ask yourself, "How do we build a partnership with this dealer that shows we are behind him?" and, "Are the dealers chomping at the bit for an annual event that will attract customers?" How important is the Internet?
Very important, because our online sales are, at times, 70 percent of our sales. We cannot wait for that customer to wander into our store. The time you spend pining for customers could be better served listing product or building your company's brand.
If you think your company does not have a brand, you are wrong. It is either a good or bad brand. If it's bad, you have the ability to change that by having a Facebook page, Twitter account or working on your online listings--all of which are free. They are a great way to reach out to customers.
Be mindful of what you would like to see as a customer, which is not being notified 20 times a day about the store specials you are offering.
A new aspect we will be adding this year is video, featuring our employees, which will be uploaded to YouTube. It will serve to educate customers, highlight product, showcase our educated staff and continue to brand our name and image.
What are the keys for success in 2011?
A well-trained and dedicated staff that is devoted to customers; exciting product that customers want; in-store promotions that draw people in; and not getting loaded down in one area, but having a consistent flow of inventory throughout the year, are all important. We also want to work with manufacturers and distributors who have the same principle: They don't accept that this is a "bad economy," but look for opportunities.
By Ryan Horsley, General Manager, Red's Trading Post Inc., Twin Falls, Idaho
No comments:
Post a Comment