Marketing knowledge: Why mobility retailers have to play a different game this winter
Many mobility retailers believe the upcoming winter will be one of the most difficult challenges for many years, but it’s not an option to do nothing. Retail marketing consultant Mike Glynn shares his tips for how mobility retailers can spot opportunities to maximise 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, the money, independence, or a sense of purpose. But somewhere between your first day in business and today you’ve compromised. Things haven’t quite turned out how you planned. You’re working longer and harder than you planned or expected. But guess what? You’re not alone.
The financial success of all businesses broadly breaks down into five segments. Every business owner is somewhere on this pyramid – where about are you? According to statistics, 80 per cent of retailers are ‘just getting by ‘or ‘broke’ – presumably they never planned it that way.
One characteristic that is missing for most of the businesses in these two segments is how they market their business. Things have changed and it’s no good now just taking out a big ad in the Yellow Pages. You have to play a different game.
Many mobility retailers believe the upcoming winter will be one of the most difficult challenges for many years. How do you prepare for rising living costs and an unpredictable supply chain primarily out of your control?
Some of you will take it as bad news and use it as an excuse. They might even cut back on marketing or ’bury their head in the sand’. Others will see an opportunity. Whichever side of the fence you fall on, it’s not an option to do nothing if you want your business to survive.
In the last two years, we’ve seen a massive shift to online purchasing and communications. Now that the genie’s out of the bottle, there’s no going back. So, how do you build on that experience and stay connected?
Typically, in our industry, customers arrive at your door late in life when looking for a solution. But what if you started to build relationships with potential clients earlier?
Don’t fall into the trap of thinking that your customers don’t use the internet. They do, and this is a fact.
They’re not going into the library or looking for you in the Thomson’s Local. They’re asking Google and Alexa. In today’s market, you have to think differently.
You have to start marketing and these seven rules of effective marketing have helped thousands of business owners just like you to move up the pyramid. These rules give you a checklist, a roadmap and a framework.
1. Make sure there is always an offer
Ideally, it’s a ‘stop you in your tracks’ offer that’s incredibly attractive to your customer and profitable for you.
It must be powerful enough for people to move, take the right action, and choose you. It’s not enough to say who you are and what you do.
The offer doesn’t have to be a discount. Nobody gets excited with 10 per cent off. That’s a lazy offer.
Try to be creative with your offer. Make it memorable. Charge a premium or add value and scarcity. Wow your customer with its perceived value, but make sure that it’s profitable for you. Creating the right offer will drive responses, so it’s essential to give it some thought and get it right.
2. Create a reason for your customer to respond – now
Deadlines work well here. Just 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
Only give your customer one thing to do and don’t confuse people. Give your customers clear instructions on the one thing you want them to do.
4. Traxk and measure your results
You must make sure that your marketing is working, so the tracking and measuring of results is crucial. There are three key strategies to make measuring easy. The first is to track phone numbers on every marketing piece. They’re really cheap – so only use one phone number in one place.
Secondly, use vanity URLs that point to specific pages on your website.
Thirdly, use separate email addresses, so you can see how many people respond. Once this step is in place you’ll make informed decisions based on fact and not on a gut feeling or opinion.
5. Conduct a proper follow-up
When you launch your promotion, consider this. At any one time, statistically, only three per cent of the audience is ready to buy. The others aren’t ready yet, but in most cases, they get forgotten or cast aside, which is why you must have a proper follow-up.
Having a follow-up process that is systematic, consistent and regular helps to remind prospects that you’re there. The follow-up keeps them engaged and close. In most cases, with follow-up, you’re giving up too early. Whatever you are doing now try and do a bit more.
6. Showcase the benefits
Don’t make it about you. Show your prospect how you can help them. Make it about how your product or service will benefit and solve your prospects’ problems.
7. Review the numbers
It doesn’t matter what you think or like it’s the result that matters. The cost per sale is always more important than the cost per lead, so it’s essential to know both.
Looking and reviewing the numbers may surprise you, and having accurate measures in place may uncover a golden egg.
Knowing these seven rules is very different to implementing them. But it’s the implementation that makes the difference. It’s implementation that moves you up the pyramid.
For help implementing the seven rules and moving your business up the pyramid then let’s have a chat. Call Mike on 01256 213021 or email info@mgretailconsulting.co.uk.
