The increased popularity of showrooms in the truck equipment industry is leading to more emphasis on retail marketing strategies. Edwin Rigsbee will present "Cashing In - Retail Marketing Tactics that Boost Sales," from 2:45 to 4 pm on Friday, March 13. The session will focus on increasing retail sales using partnering techniques Rigsbee will present in the morning session.
Rigsbee will present ten questions that owners need to answer before implementing a positioning strategy. Next, Rigsbee focuses on customers in terms of geographic, industry, or socio-economic positions. Rigsbee will discuss how customers find a business through word-of-mouth, direct mail, or other forms of advertising. Rigsbee will offer a look at how customers perceive value when selecting a supplier. This perspective will focus on seeking customers that are looking for a partnering relationship.
Competition is the focus of Rigsbee's sixth question. He will search specifically for companies that are capable and willing to make a greater commitment to partnering. Related to this issue is the question of what benefits customers perceive they are receiving from these competitors. Rigsbee will challenge owners to spend time thinking about solutions to customers' problems from a competitor's point of view.
Rigsbee will show how to identify a company's uniqueness and use it to sell products. Searching for personal uniqueness is Rigsbee's ninth step. Finding the area that consistently pleases customers is critical to success.
Rigsbee's last question, "Can partnering be my hook?" will show how partnering is a good foundation for success, but it must be supplemented by uniqueness, location, and product mix.
Rigsbee also will discuss building a retail success triad and eliminating customers' emotional obstacles to buying. He will discuss the three main emotional obstacles that retailers must overcome in most customers' minds before selling a product.
Obstacle one is the emotional product purchase. "This is where businesses usually focus on features that create benefits to the customer, but they are often not enough to sell the product," says Rigsbee. "Selection, quality/price, merchandising, and display are areas that need improvement."
The second emotional obstacle is the store or company. "This obstacle covers all things from the physical building and location to your reputation in the community," says Rigsbee. Policies, reputation, layout, and appearance of a business all affect a customer's attitude about buying, according to Rigsbee.
Emotional obstacle number three is the salesperson. Rigsbee will explain the advantages of using a sales improvement program suited to each personality and finding a passion in selling to customers.
Another important aspect in retail marketing is finding the right niche in which to compete.Rigsbee will point out strategies to help a business emerge from the masses, a necessary step to greater profitability.