Marketing mastery: How to generate high-margin referrals

September 8, 2016 | Comments Off on Marketing mastery: How to generate high-margin referrals

September 5, 2016; Volume 31, Number 6 By Jim Augustus Armstrong Even with dealers in some markets experiencing relatively high sales volume, now is a very challenging time to be in flooring retail. Box stores and online discounters continue to create downward price pressure, and many local retailers are attempting to compete by cutting margins and using cheap-price advertising. However, by using the right strategies, getting margins of 45% – 50% or more is completely...

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Marketing Mastery: Creating differentiation in your showroom

August 29, 2016 | Comments Off on Marketing Mastery: Creating differentiation in your showroom

August 22/29, 2016; Volume 31, Number 5 By Jim Augustus Armstrong   Every flooring prospect has an unspoken question on her mind: Why should I buy from you instead of your competitor? If you don’t effectively answer this question you could wind up losing customers. One effective way to answer this question is by creating differentiation. I recently spoke with Lindsey Waldrep, vice president of sales and marketing for Crossville Tile, to get her thoughts...

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Marketing Mastery: Prioritizing social media marketing

July 15, 2016 | Comments Off on Marketing Mastery: Prioritizing social media marketing

July 4/11, 2016; Volume 30, Number 27 By Jim Augustus Armstrong I was helping a flooring dealer prioritize her marketing program when she said, “I think I could be doing more with my Facebook page to generate sales; what do you suggest?” I am asked this in one form or another quite often, and the answer lies in how each individual dealer prioritizes his or her marketing. My Flooring Warranty is a service that conducts...

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Marketing Mastery: Industry leaders speak out

June 3, 2016 | Comments Off on Marketing Mastery: Industry leaders speak out

May 23/30, 2016; Volume 30, Number 24 By Jim Augustus Armstrong (Final of three parts) With competition from box stores and online dealers, rising costs and pressure to cut margins, flooring retail is a tough business—especially if you don’t have the right sales and marketing systems in place. I recently spoke with Bob Eady, president of T&L Distributing, headquartered in Houston, to talk about what he sees successful retailers doing to grow sales, keep their...

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Marketing Mastery: Industry leaders speak out

May 17, 2016 | Comments Off on Marketing Mastery: Industry leaders speak out

May 9/16, 2016; Volume 30, Number 23 By Jim Augustus Armstrong (Second of three parts) “I have to cut my margins to compete,” a flooring dealer recently told me. This is something I hear fairly often from retailers. So what’s the solution to preventing margin erosion in a market full of box stores, online discounters and other cheap price competitors? Differentiation. If you don’t create differentiation, you are forcing your customer to buy on price....

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Marketing Mastery: Industry leaders speak out

April 28, 2016 | Comments Off on Marketing Mastery: Industry leaders speak out

April 25/May 2, 2016; Volume 30, Number 22 By Jim Augustus Armstrong (First of three parts) I recently conducted a series of interviews with industry leaders on what they see successful retailers doing to grow their sales, keep margins up and beat the boxes. Pat Theis, vice president of sales and marketing for Herregan Distributors, was one participant who offered valuable insight. What do you see successful dealers doing to keep margins up, grow sales...

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Marketing Mastery: How to make more while working less

April 22, 2016 | Comments Off on Marketing Mastery: How to make more while working less

April 11/18, 2016; Volume 30, Number 21 By Jim Augustus Armstrong (Third of three parts) In the third and final installment of this series I’m going to continue to discuss how Craig, a dealer from Florida, was able to cut his work hours significantly. If you walk into any McDonald’s, the odds are you won’t see the owner in the back flipping burgers, taking orders, wiping down tables, bookkeeping or performing any of the other...

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Marketing Mastery: How to make more while working less

April 1, 2016 | Comments Off on Marketing Mastery: How to make more while working less

March 28/April 4, 2016; Volume 30, Number 20 By Jim Augustus Armstrong (Second of three parts) In my last column I told the story of Craig, a dealer from Florida who increased his revenue 50% each year for the past two years while simultaneously cutting his work hours. I would like to go over some of the strategies he used to get this impressive growth in revenue. Blocking and tackling Craig provides quality products and...

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Marketing Mastery: How to make more while working less

March 21, 2016 | Comments Off on Marketing Mastery: How to make more while working less

March 14/21, 2016; Volume 30, Number 19 By Jim Augustus Armstrong (First of three parts) “I used to work 6 a.m. to dark, six to seven days a week,” a dealer, Craig, told me. “I was completely stressed out and feeling pretty miserable.” A lot of dealers can relate to Craig’s situation. I want to share Craig’s story and how he eventually made changes in his business that allowed him to experience 50% annual growth...

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Marketing Mastery: How to triple your net profit in 87 days

February 8, 2016 | Comments Off on Marketing Mastery: How to triple your net profit in 87 days

February 1/8; Volume 30/Number 16 By Jim Augustus Armstrong (Third of three parts) In part one of this series, I revealed how Craig Bendele, a dealer from Florida, increased his revenue 50% each year for the past two years while simultaneously cutting his work hours. In part two, I covered some of the strategies he used to achieve this impressive growth in revenue. Now I’m going to discuss how he was able to cut his...

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