Love Furniture Profits Tip: 5 Marketing Secrets You Can Profit From (Secret Tip #2)
Furniture World News Desk on
11/24/2014
By David Love
Love Furniture Profits
Your store is successful now, but you want to get to the next level. You’re frustrated because you wish you got better results from your advertising efforts. You’re frustrated because your business seems to be running you. You’re frustrated because you don't have time to even think about marketing, much less know what makes it work or what to do next?
If that sounds like you, knowing these secrets is important. (If you missed Secret #1 last week, shoot me an email and I’ll send it to you.)
Pretty basic, right? We need new customers to stay alive.
Why do we need new customers? Because, believe it or not, not everyone is in love with us and they leave. Why do they stop doing business with us? There are only four possible reasons. Source: Database Marketing Institute.
- They die (My note: or move away)
- They are unhappy with the price
- They are unhappy with the product
- They are unhappy with the way that they are treated.
Many stores focus on #2. Cut prices and we’ll attract more customers, right? Not necessarily. Database Marketing Institute also reports that, depending on the industry, only about 15 – 30% of customers are price sensitive. The remaining 70 – 85% are loyal customers and stay for other reasons.
According to Marketing Metrics and reported in Home Furnishings Business, the probability of selling to a new prospect is just 5 – 20%. There’s another group of customers of which you also need a good steady flow. There’s a 60 – 70% probability of selling these customers. Who are they?
To be revealed next week in Unknown Secret #3.
These little weekly articles can only scratch the surface of what you can do to more effectively market your goods and services. To find out more, get your free copy ($97, but free to any furniture or mattress store) of my breakthrough Special Report, “5 Long Lost Secrets of Scientific Furniture and Mattress Advertising that work like magic in today’s economy for any furniture or mattress store to get you more customers, more sales, more profits.” Go right now to www.lovefurnitureprofits.com. David can be reached at david@lovefurnitureprofits.com. Phone: 803.764.3977.
Do you have an marketing frustration you’d like me to address? Shoot me an email and I’ll talk about it in a future article.
About David Love and Love Furniture Profits. Love Furniture Profits is an advertising consulting and coaching firm that works with small to medium size furniture and mattress stores that want better results from their advertising.
David is a 42 year furniture/mattress, in the trenches, industry veteran. His background includes retail furniture sales. Manager of a retail furniture store. 22 years on the road making money for companies like Sealy Mattress and Best Chairs. His territory and his retailers achieved sometimes remarkable sales increases due to the expert advertising and sales advice he gave. He has also owned and sold his own profitable store and was a highly regarded sales manager of a top 100 furniture store.
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