Marketing Mastery: Commanding margins of 40% to 50% or more

July 30, 2014 | Comments Off on Marketing Mastery: Commanding margins of 40% to 50% or more

Volume 28/Number 3; July 21/28, 2014 (Bonus fourth part) By Jim Augustus Armstrong “I did an extra $90,463 last month,” David, a dealer from Texas, told me. He said the results came from a referral marketing strategy he recently implemented. Several facts make David’s story interesting. First, he spent less than $100 to generate this revenue; second, this was David’s first month using this strategy; third, it happened during a very slow market in his...

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Marketing mastery: Ideal business, ideal lifestyle

July 23, 2014 | Comments Off on Marketing mastery: Ideal business, ideal lifestyle

January 6/13, 2014; Volume 27/Number 18 By Jim Armstrong (Second of three parts) In the first installment on this subject (FCNews, Dec. 23/30), I made the case that the main purpose of your flooring business is not to provide jobs, sell stuff, help customers or even to make money. The main purpose is to fund and facilitate your ideal lifestyle. Yes, you should be doing those other things that are not your ultimate goal, but...

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Marketing mastery: Commanding margins of 40% to 50% or more

July 10, 2014 | Comments Off on Marketing mastery: Commanding margins of 40% to 50% or more

June 9/16, 2014; Volume 27/Number 29 By Jim Augustus Armstrong (Second of three parts) “Our margins start at 45%,” Craig, a flooring dealer from Florida, recently told me. “And our sales volume is up 60% over last year.” Craig’s story is not uncommon. Dealers all over the U.S. and Canada are commanding margins of 40% to 50% (and above) on everything they sell. This is in spite of the presence of box stores, cheap-price local...

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Marketing Mastery: Commanding margins of 40%-50%—or more

June 17, 2014 | Comments Off on Marketing Mastery: Commanding margins of 40%-50%—or more

May 26/June 2, 2014; Volume 27/Number 28 By Jim Augustus Armstrong (First of three parts) During several of FCNews’ Marketing Mastery webinars I host with Dustin Aaronson, I have asked attendees if customers are more price sensitive than 10 years ago. The overwhelming response is always a resounding “Yes!” Most dealers have felt a big increase in downward price pressure since 2008. Here are some typical price-pressure dramas dealers face every day. How many sound...

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Marketing Mastery: Lessons learned from a chop shop for men

June 17, 2014 | Comments Off on Marketing Mastery: Lessons learned from a chop shop for men

May 12/19, 2014; Volume 27/Number 27 By Jim Augustus Armstrong “I’ll take the MVP cut,” I said to the girl behind the counter. It was my first visit to Sport Clips for a haircut. I’d heard good things about their service—that they were different than your typical walk-in hair salon—so the marketer in me was curious to see what they were all about. There are legions of Supercuts, Great Clips and other low-price chop shops...

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Marketing Mastery: Selling your products for the most money

May 5, 2014 | Comments Off on Marketing Mastery: Selling your products for the most money

Volume 27/Number 26; April 28/May 5, 2014 (Third of three parts) In the last two installments I detailed the toxic problems with selling on cheap price and why you should learn how to sell your products for the most money, rather than the least. Let’s look at some specific strategies for doing this. (more…)

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Marketing Mastery: Selling your products for the most money

April 22, 2014 | Comments Off on Marketing Mastery: Selling your products for the most money

Volume 27/Number 24; March 31/April 7, 2014 (First of three parts) When I was in college, I earned my daily bread by giving private guitar lessons at a music store. The owner of this store was a good-hearted and generous fellow. Maybe a little too generous. He sold his wares at incredibly thin margins—so thin that he had to take part-time work outside his store to stay afloat, always had to do things on the...

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Marketing Mastery: Scraping the bottom of the barrel

March 25, 2014 | Comments Off on Marketing Mastery: Scraping the bottom of the barrel

Volume 27/Number 23; March 17/24, 2014 By Jim Augustus Armstrong Years ago I owned a carpet cleaning company. During that time, there was a local charity selling coupon books with deep discounts to neighborhood businesses such as restaurants, lube shops, and—you guessed it—carpet cleaning companies. One carpet cleaner participated by including a coupon for “one room free, up to 200 SF.” He nearly went broke from all the bargain hunters who hired him to clean...

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Marketing Mastery: Have fun making Home Depot eat your dust

March 10, 2014 | Comments Off on Marketing Mastery: Have fun making Home Depot eat your dust

Volume 27/Number 21; March 3/10, 2014 By Jim Augustus Armstrong (Third of three parts) There is no single strategy that will magically enable you to leave the boxes in the dust. Rather, you should implement multiple integrated sales and marketing strategies that reinforce one another and position you as the obvious choice. With that in mind, let’s take a look at some effective strategies you can add to your Depot-dustin’ arsenal.   (more…)

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Marketing Mastery: Have fun making Home Depot eat your dust

February 24, 2014 | Comments Off on Marketing Mastery: Have fun making Home Depot eat your dust

Feb. 17/24 2014, Volume 27/number 21 By Jim Augustus Armstrong (Second of three parts) At Surfaces I attended James Dion’s class on the psychology of price. He said, “Price is just a number, yet consumers are obsessed with it. If you want to know who to blame, look in the mirror.” I agree. For years the box stores and national chains have been pounding the pulpit, preaching price prostration. Unfortunately, most small dealers followed suit....

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