Here is a million dollar strategy for you: If you really want to make huge profits with little to no additional work, then start a wedding registry program at your store, BEFORE partnering with wedding shops.
That way you can promote your wedding registry program on your marketing pieces. If done correctly, you can collect thousands of dollars each month, before actually delivering one piece of furniture.
You can implement this strategy by locating several independent wedding shops and agreeing to advertise their products, services and specials to your customer database in your newsletter or a specific campaign. In return, they should agree to allow you to send out a series of letters and postcards to their database.
However, instead of just promoting your products to these prospects, you should also promote your registry program. You can offer to match any gifts or donations up to a certain amount. This gives the prospects further incentive to open a registry at your store.
Imagine having partnerships with five local wedding shops that send you a total of one hundred prospects per month, which also open up a gift registry with you. In little to no time you would have tens of thousands of dollars deposited into your bank account, on a monthly basis, without doing any additional work.
Sure, you will have to actually give them the furniture at some point, but you get to use that money to grow your business for many months before actually delivering products. Additionally, the newlyweds are less likely to haggle over price because the money is only valid at your store and can not be used anywhere else.
No comments:
Post a Comment