By Mr Retail
As you read this, the fourth quarter of 2023 is upon us. Whether your sales are flat, up or down, all of us recognize that the business climate we have now may be here to stay for a while. So, in order for us to continue to drive sales, we must have a marketing plan. It needs to be well thought out, and we have to execute it.
Many retailers see a spike in business during the holidays. And while my business doesn’t spike, we do see around three months of business happen in the two-month period of November/December. October for us sees early shoppers come in, and we always like to take those shoppers out of the market by having them buy from us instead of someone else. So, if you are just going to sit back and hope business improves, may I also suggest looking in the help wanted sections? We are back into the reality of “business comes through the door for people that go after it.” Plain and simple.
Is it time to start calling on new and used car dealers again? Maybe go visit body shops and automotive repair shops and let them know you can fix or upgrade the electronics in their clients’ vehicles. Find the best shops and offer to refer people to them as they refer people to you. It is zero cost exposure for both of you.
I highly suggest evaluating all of your advertising and NOT doing it just because you have done it for so long. Have you sponsored car or motorcycle events for years now? Then run the numbers on them and confirm they are still worth your time as some of them are a real time suck. The flip side is that maybe there are 1-3 car, bike, Jeep, etc. events you can participate in for relatively low cost that can result in quick sales.
Have you always spent a lot of money advertising remote starts? Is it time to rethink some of that based on the last two years?
The driving point here is that the easy money era is over and we are heading into the biggest consumer spending time of the year. So go to the library and read some books on advertising if need be, join some advertising forums on Facebook, hire a temporary advertising consultant. But for the love of sweet potato fries (they really are yummy), do something! Your future may depend on it.
Mark Miller is Mr Retail. He is the CEO of Westminster Speed & Sound, an award-winning retailer in Westminster, Maryland. The company was founded in 1969, and Mark took it over in 1990 at the age of 23. He first started in the industry in 1986, so he has been at it for a while. He has served on the board of MERA, taught seminars in over a dozen different cities, and served on the SEMA New Product Awards judging team.
well done