The Secret to Real Wealth in Your Retail Business
By Claude Whitacre
Can you get WEALTHY in your Vacuum Cleaner Retail business?
I define Wealth as being totally independent. Living off your investments. Having at least a Million dollars in liquid assets. Possible? Yes. In fact, not just possible. After YEARS studying Marketing & Sales. I found the answer. I didn't INVENT the answer, I'm not that smart. But I found it. Here's the answer;
Selling to your "Herd". Your Herd is your customer base that bought a vacuum cleaner or other expensive product). Repeatedly giving High Profit Offers to your established customer base. At least once a month. By direct mail.
This is the secret all Direct Mail Companies know. The profit isn't in the first sale. The profit is in "Mining the Gold" from your customer list over & over again. Do you see the infomercials on late night TV? "Send $39 for this course. Get rich in Real Estate". It may cost that company $200 or more to sell you that $39 course. Why are they willing to spend that kind of money? Because the average customer that gives them $39 will continue to buy from them, perhaps another $2,000 over the next year.
Michael is the biggest proponent of this idea on the VDF (VacuumDealersForum.com). Why does this provide real wealth? Here
When you advertise to the general public, maybe you will get one out of a THOUSAND to buy a vacuum from you (from that single ad). They have to like you, trust you, know where you are, be willing to buy from you, be willing to pay a lot for a quality vacuum. One out of a Thousand. But 100% of your customer base fits that criteria, 100%. So instead of getting a .1% response from your mailed offer, you may get a 20% response or more. EVERY mailing will be profitable.
It's like buying Hundred Dollar Bills for Ten Dollars.
How can you give Great Profitable High End offers every month? New products.
New Models of old products. Generous trade in allowances. Upselling to more expensive models. Not Ads for bags, Ads for high profit vacs, heaters, sewing machines, air purifiers, & whatever else you can fit into your store.
But first you have to build the HERD. The fastest way to do that is by advertising to get the most high end sales possible in the shortest period of time. Advertising is like Finding the Goldmine. Repeated mailings to your Herd is Mining the Gold. The Wealth is all in Mining the Gold.
This would be a much better article if at the end, I said we were marketing to our Herd & getting wealthy from it. We just started. We had a 72% increase in business & our goal is another 66% increase again this year. We won't get that just from selling. We are advertising on the Radio now. Cable TV soon, & most of our profit will be from marketing to our customers. This isn't a method you TRY. It has been Tried, Proven, & is the Standard of the Direct Selling industry.
Michael in Maryland is proving that this will generate substantial volume at almost no cost. I know a few other dealers are generating a substantial income from this method. They are Wealthy. Soon I'll be joining this Group. Will you?
"Sign up now for my FREE Retail Marketing course "Unfair Advantage Retail Strategies ". About once a week, I'll provide you with valuable retail marketing strategies that have been proven and tested, (mostly by me).
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