Subject: Wal-Mart is catching my customers Author: fishstory Date Originally Posted: 09:51:16 05/23/01 Wed (in a previous blog)
I've read some of the latest marketing books. The authors mostly advocate specializing as a way of limiting competition, plus to draw in more prospects.
I specialize in fishing equipment. Unfortunately, Wal-Mart sells products for prices that are about what it costs from my supplier. I know I shouldn't try to compete on price because it's a weak foundation and Wal-Mart will be able to beat everytime.
But how can I compete when people are more apt to go for the lowest prices?
In reply to: fishstory 's message, "Wal-Mart is catching my customers" Date Originally Posted: 05/23/01 Wed (in a previous blog)
Hi:
Here are some ideas for you.
You can do joint ventures with boat dealers in which your products would be a purchase bonus or maybe they would recommend you as their official fishing equipment supplier.
You can have a contest for best fish story in two categories, true and false. This could attract attention.
This may work with fishing jokes too.
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One year when the Green Bay Packers and the Chicago Bears weren't in the play-offs, the coaches decided to have an ice fishing contest.
Each of the 3 days, the teams were fishing the Packers caught fish, but the Bears didn't catch any.
At the press conference afterward, the Bears accused the Packers of cheating. They took reporters to the Packers' fishing shack and pointed to the hole the Packers cut in the ice.
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Post pictures of people with their fish.
Invite people to come and discuss fishing in a group setting.
Have somebody you know and trust, who won't be recognized as being connected with you go to Wal-Mart to find out how much/little W-M employees know about fishing. S/he may need to do this a few times to meet the various people who cover that department.
Sometimes, that's all the employees do, they're assigned to cover a few departments at a time, so they probably don't know much about any of them.
Be sure you have a strong Unique Selling Proposition.
It can be similar to -
"Do you know how when you go to the sporting goods department in a big discount store the employees grab a flyswatter when you talk about flies? At Fishstory LLC, we know the local fishing conditions and can recommend the right equipment so you can catch what you want."
Get a free web site if you don't already have a site and a message board like this one for your customers and prospects.
Establish yourself as the local authority with fisher-people and the press. If an issue about fishing comes up, submit your opinion by phone or by sending a good, crisp press release. There are plenty of books and articles about publicity and press releases. Ask at a library or book store.
Ask about having a fishing column in the local newspaper or a feature spot on a radio/TV station.
If you have more questions, please post them.
Copyright 2017 Dennis S. Vogel All rights reserved.
thrivingbusiness@email.com
No competitor is invincible. You don't need
a miracle. Your business will THRIVE if you
have the right marketing.
Please click here for free information.
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Update For Most Retailers:
You need to be more flexible than competitors. Big retailers will change whatever is necessary to increase profits.
You'll need to keep testing more methods to sustain your success.
You shouldn't think you'll always offer better products & services. Big retailers will always experiment with prices & product/service quality. You need to keep experimenting also.
I wrote many insights for increasing your store's value. As you use these insights, you'll need to add your trade skill & input from customers.
The 1st post in this thread was written for fishing equipment dealer. You should mentally substitute 'fishing' for your customers' activities & desires.
As you read my suggestions & questions, please ask yourself, "How could I apply or adjust these in my store?"
Be A Personal Resource
Base your offers on the experiences customers want. Fishing is a solitary experience for some people. Others use fishing as a social event. How might these differences affect what people buy?
If most potential customers want solitary fishing experiences, you should stock what they want & offer it in meaningful ways.
If fishing is a way for them to have peaceful time alone, your advertising should focus on offering what's necessary.
You should do your best to focus on consumers who want & need your current inventory. How can you help customers get optimal benefits from your inventory?
As you maximize opportunities from what you currently offer & sell your inventory, you can adjust according to customer base changes.
To help customers, you should ask about what they want to do. Do they want challenges of catching big fish? Do they want a lot of fish? What have they been doing? What should they do differently to improve their results?
How does your store fit into people's desired experiences? How can you better help people catch fish for food? For those who use fishing as a social activity, how can you make it better?
People buy through web sites if they only want to buy through basic transactions without extra customer service. A web site won't have a deeper role in their lives. A web site won't have personal connections to a community unless it includes social media.
When people want more than products & basic transactions, what can you do for them?
What are their personal identities? Are they fishermen (fisher people)? Are they sportsmen (sports people)?
How do their personal identities affect their desires & experiences?
How important is fishing to them? Do they do it each week? If they miss a week, do they feel bad? Is fishing their only hobby?
If they have many recreational opportunities, is fishing a minor option?
What could make fishing more important to them?
Do sportsmen switch to hunting when seasons change? Do fishermen keep fishing when seasons change? How do they change their fishing methods when seasons change?
Help them gain & maintain their desires.
Be A Community Resource
How can you & your business fit into your local fishing community? How can your store be relevant for more than products?
A business relationship is important. You can focus on how your store can add to relationships people have with each other.
Would individuals benefit if they joined a group? Would a group function better as a club?
How could you help to introduce individuals? Could you have a sign up sheet for a club? Do you have a mailing list?
How could you help people form a club?
A club could be like a focus group for market research.
Do you have space for people to meet in your store? Customers could have discussions or club meetings. (Note: You might have disclaimers like "Opinions expressed aren't necessarily those of the store owner or its staff.")
Check insurance & liability issues. In some places, a fire marshal will determine how many people can safely occupy a building.
You should determine how to choose a club to support. Your criteria could include a club's goals & how you can help to achieve those goals. How well can a club help you achieve your goals?
Have you found groups that support environmental causes? Some related causes are wet lands, rivers, lakes, wild life & invasive species.
If you support them, they'll probably support you. You could get referrals, endorsements & testimonials. When they buy from you, you'll get social proof for the value you provide.
You can experiment with your levels of support. What do club members ask for? Determine what you can afford. Ask group leaders how you can help them.
It's common to think about adding value to people's lives. How can you help people add value to their lives? How can you help people add value to other people's lives? How can you help people add value to their communities?
Be An Information Resource
Is there a local broadcast journalist, newspaper columnist or blogger who writes about fishing & outdoor sports?
You can contribute information. You can get information about activities & groups.
You should ask questions & provide answers.
You should know about some sources you can advise customers to check for in-depth information.
You should know what's important to customers.
Here are some possible issues for you to know:
Do people always use the same kinds of equipment each time they fish?
Do they go out in boats & use different equipment compared to what they use on piers?
Would they fish from boats more often if they had heavy duty equipment?
Would they fish more often if they had other equipment?
Would they rent equipment?
Are there contests for catching certain kinds of fish?
Are there contests for people using boats or fishing from docks?
Do people want more contests? What kind of contest would be a good addition?
What would make contests better?
How can you contribute to contests?
Which activities are compatible & incompatible with fishing?
It might be best to promote activities together & though some activities should be separate in time & location. It's good to identify & avoid potential conflicts.
Example: Where I live in Wisconsin, there are shipwrecks. People, who enjoy fishing, might enjoy viewing wrecked ships. Scuba divers get close views of ships but they could get tangled in fishing lines. Divers might scare fish away.
Be A Business Resource
If you work with other business owners, your combined contributions could be substantial & affordable. Other business owners might help you form & support clubs.
Which other businesses could make fishing more fulfilling?
Here are ideas about people & businesses you can work with:
retailers, photographers, picture printing & developing,
charter boats, camp grounds, motels, caterers for gatherings, restaurants,
tour guides, tour buses, travel agents, newspapers, broadcasters & game wardens
Which products & services would make fishing more comfortable & beneficial?
Be A Resource For Fund Raisers (Charities)
There are probably a lot of activities & fund raising events.
You should have criteria for choosing which of those to participate in.
Do you have enough total resources (including money, time & energy) to participate in them?
What can you do well without causing yourself excessive stress? Which events match your talents & resources?
Which activities fit your policies, plans & procedures?
You should consider the timing. Which activities & events happen in the same time period? How well do they fit your schedule?
Which groups seem to need you most?
To which groups & activities can you make unique contributions?
Which activities or events would bring you a high return on your investment (ROI)?
For charities, it might seem bad to consider ROI, but your future contributions might depend on how much you benefit.
As long as you gain something, you might be able to justify continuing.
Be A Product/Service Resource
You should have a checklist for determining what to offer & how to promote offers.
There are factors people use to determine if they'll do things. If your offers reach them at the right times in the right places, you can get more sales.
Here are a few examples:
If your offer reaches people as they start planning, you can affect the activities they pick.
Your offer could provide what they need to choose a preferred activity instead of their second choice.
What do people use as criteria to determine what to do in their leisure time?
What do people want when they consider going fishing?
After they decide to go fishing, what do they want as they prepare?
What do they need while they fish? What do they want after they've been fishing?
How do they evaluate product & service quality?
What can you do to improve customers' in-store experiences?
How can you help people have better experiences when they use products?
You can provide information about how to use products for full functionality plus maximum durability & reliability.
Example: Do people have the right equipment for the fish they want to catch? Catch & release is different than hooking a fish & losing it.
Do competitors sell products strong enough to land fish?
Do customers know about smart phone apps? Do they know how to use new technology to add to their enjoyment?
Do you offer products to help people protect their equipment? They might keep a fish but lose a phone.
Do they know how to hold a fish & a selfie stick at the same time?
Can you help them get more enjoyment in less time &/or with less effort?
Thank you for using my blog.
Please let me know if you need any clarifications.
Copyright 2017 Dennis S. Vogel All rights reserved.
thrivingbusiness@email.com
No competitor is invincible. You don't need
a miracle. Your business will THRIVE if you
have the right marketing.
Please click here for free information.
https://thriving-small-businesses.blogspot.com/
http://www.voy.com/31049/
