Bring in the Big Fish

Any retailer can tell you that driving traffic through the doors is the single biggest component of success. After all, glowing Yelp reviews and jaw-dropping beautiful showrooms don’t mean a thing if no one is actually walking into your store. And one of the best ways to increase revenue is by driving traffic for non-retail business. In other words, the big fish.

Sure, you can spend your time and money running advertising and direct mail campaigns to generate traditional retail business. But if you really want to get more bang for your buck, I recommend spending some time going after builders, commercial contractors, multi-family units, institutional projects and the like. Don’t worry, I’m going to tell you exactly how to do it.

One of the first things I noticed when looking into this issue was that retailers were going after big fish clients, but the efforts were inconsistent and so were the results. I decided to take note of a successful industry’s techniques and realized they could easily be applied to the flooring industry. This system, built around the concept of pharmaceutical representatives who spend their time and energy getting in front of potential clients, has proven to be key in generating revenue with high volume projects. The Hunter Program arms representatives (aka “hunters”) with clever programs designed to drive interest such as rebate offers, loyalty rewards, preferred treatment and other perks. All the hunter has to do is drive interest. He or she doesn’t put together estimates, schedule installation or handle customer service issues. It’s all hunting, all the time. And it works. In fact, it works remarkably well.

According to a three-year survey we conducted with flooring companies using dedicated hunters, we discovered the following:

  • Volume levels nearly 2.5 times higher than those not utilizing a hunter ($6.46 million vs. $2.86 million). Pause for a moment and let that one sink in.
  • Sales productivity $112,268 higher for each RSA
  • $32,250 greater productivity per employee
  • Owners earned an additional $68,805 per year.

 

For a hunting initiative to be effective, however, it does take careful planning and consistency. All hunters must be trained, their efforts should be tracked and they do need to be held accountable for setting and achieving goals. And as those big fish clients come through the door, your staff will be tasked with maintaining excellent levels of service with this higher number of sales. It’s a good problem to have.

We won't stop until we find that perfect candidate for your company. In consulting, we are with you every step of the way. Contact us through our contact form today!