Category — Marketing Tips

Guest Article by: Susan Wilson Solovic - CEO of SBTV.com

Q. I’m just starting a business and wondered what you think is the best way to get my marketing going.

Marketing is an umbrella term that covers a lot of areas including sales, branding, advertising, online, direct mail, and so on. With so many different opportunities from which to choose, it’s challenging for a new business owner to determine what’s best for their business so you’re not alone.

In addition to not knowing what type of marketing strategies to utilize, most small businesses have little or no funds to pay for big campaigns. One small business owner told me he decided to purchase a full-page advertisement in a national magazine to promote his business. He was convinced the ad would drive lots of business his way and put him on the road to profitability. Unfortunately, the one-time ad produced fewer than a dozen inquiries and the cost nearly put him out of business. The moral of this story is that sometimes the simplest marketing approaches are not only less expensive, but also more effective in building your business.
[Read more →]

The affluent community has grown over 20% since the early 90’s. In the U.S. alone, luxury is a $400 billion market. Recent studies estimate that it will grow at a rate of 15% a year and will become a $1 trillion market by 2010.

So how can you market your services to the affluent consumer? Here are seven marketing strategies to help you attract this smart and savvy shopper.

1. Create a story around your product. Tap into the buyers imagination by drawing them into a story line. Can you create a sense of mystery around your product? Can you feature an interesting case study in your story? Is there a story behind the origins and culture of your product? You can even create a story around the purchase of your product. Some of the best copy writing has storytelling at the heart.

2. Merge with the affluent culture: For example, you could join a tennis club or a golf club to meet future prospects. Be like a chameleon and merge with their environment with ease. Be relaxed and genuine. After all, on the deepest levels we’re all equal. Find complimentary businesses that can help you get referrals and vis-versa. Work together in these joint venture deals. For example, I produce custom rugs and a good joint venture deal would be with a hardwood floor installer. In this case I would offer a 5% referral fee for any sales that come from his referrals.

3. Communicate effectively: By observing how these consumers think you will have a better chance at converting them into customers. In client meetings, pay attention to your listening skills, don’t interrupt when a client is speaking. Listen to their needs and offer a solution to each one of them. Show a genuine interest in the other person. Avoid quick judgments about people, because there’s always a deeper story behind the social mask of everyone. Try to learn their story. Keep the channels of communication open and alive after the sale by sending a handwritten thank you card. Create a follow up strategy that keeps you in contact every month or two. Even if they are not a customer yet!

4. Create a 1-4 page newsletter: Send out the newsletter every month or two. Balance the content with 50% info about your business and 50% info about their lifestyle interests. Make it interesting. Create case studies and stories about your clients and how they use your product. Feature short articles and reviews about luxury products, travel destinations, and even luxury estate news. Create a new theme for each newsletter. Send these out to your clients and potential prospects.

5. Direct Marketing with a short list: identify an affluent neighborhood. Use a reverse directory that you can lease from your phone company or acquire a local Haines Directory used by real estate agents. Get their names and addresses and create a personalized mailer that gets opened. Consider sending a FedEx letter to your best prospects. Inside, attach a new crisp dollar bill to the letter. Compose a letter - “As you can see, I have attached a crisp new dollar bill to the top of this letter. Why have I done this? Actually there are two reasons…First,it’s important, secondly it’s eye-catching…” then make your offer. Do a search for the ‘dollar bill’ letter for more tips.

6. Develop a ‘limited edition’ product line that creates a sense of exclusivity. Create a certificate of authenticity to go with your product. Limit your design to 100 or 500 or 1000 copies. Sign and number each copy.

7. Energize Your Brand: be aware of how you brand yourself and your products. Create a professional logo that you can live with in the years ahead. Logo colors should be taken seriously. Research your market and study logo design then choose an appropriate color. Good quality logos can be purchased for several hundred dollars on the internet. Even if you’re a small business, you can easily create the impression of a larger business with successful branding.

I hope these tips have been useful. Use these seven tips to help you focus on building up your client base and market successfully to the affluent consumer. Not only is this an active and intelligent market that has great potential for referrals, they are fiscally responsible and frequently have an inspiring story of their own to tell.

Marketing your products and services to wealthy consumers doesn’t have to be a mystery. Do you have a service that attracts these wealthy buyers? Does your product have the built-in quality factor that this demographic desires? Will your service make them look good?

Here’s a peek into the top three strategies that will get you in the door to some of the wealthiest homes.

1) Be the Expert on the type of product you are selling. You do this by learning all you can about your products, your competitors products and your market. You write articles, speak at functions, and share WHY your product has the exclusive edge. Give your prospects information that convinces them they are getting the best.

[Read more →]

As I have mentioned in earlier posts, the affluent market continues to buy high priced goods during recessive periods. The economic ‘hard times’ do not impact this demographic as hard as it does the middle-class segments.

At Mastercraft Carpet Makers we have been through a smaller scale recession during the early 90’s and sailed right through. As we gauge the current pulse of the carpet industry, we can see some nervous tension coming from carpet dealers throughout the country. Just as the housing market has come to a screeching halt, we have seen a direct impact on floorcovering sales and installations, with one clear exception: the affluent market.

This luxury market has grown since the early 90’s. For the last decade, the luxury category has grown anywhere from 20% - 32%. In the U.S. alone, luxury is a $400 billion market. Authorities estimate that it will grow at a rate of 15% a year and will become a $1 trillion market by 2010.

Tapping into this market isn’t difficult.
Yes - you need to be a professional stand-up operation.
Yes - you need to create a good quality product.
Yes - you need to present your products with confidence.
I’ve had a great time dealing with some of these wealthy clients, finding inspiration in their success, and learning HOW they did it. In fact, you will probably make some very important connections as you spin around in these higher finance orbits.

Just for the record, the floorcovering dealers that have diversified their service offerings are the ones who survive tough times like these. The smart ones establish alternative revenue streams. They invest in tools and equipment that will generate additional income. Starting a rug-binding business is one solution. Setting up a rug making workroom is another solution.

Our training programs are designed to accelerate these alternative business start-ups through the learning curve in 30-60 days. Once your rug-workroom foundation is built, then it’s time to start adding as many services as you think you can handle - here’s peek at some of the services that you can offer:

• wall to wall insetting
• corporate logo rugs
• fine art tapestries
• custom carpeted staircases
• custom area rugs
• fabric border rugs
• rug binding: cove base, rugs, etc…

I’ve covered most of these services in separate posts on this blog. I’ve written over 20 articles that are featured on my websites. I’ve created demonstration videos that teach you exactly how to make these amazing rugs. Check out our training programs and get started in an exciting and rewarding career. Call us today at 877-784-5646.

By Russell Webb

When you decide to enter a market, it makes sense to do some research. Some markets require more research and commitment prior to jumping in, one example would be the Logo Rug market. It really helps to have a grasp of image software and how it’s used - software like adobe photoshop and illustrator.

These programs make it a whole lot easier to manipulate logos and create various layout options for your potential prospects. If you plan to move into this market then obviously it’s a good idea to make the commitment to learn the software.

Not all markets are the same, and some of these markets are more physically demanding than others. A good example is the wall to wall install market. These installations can be dramatically customized with the skills you learn as a rug fabricator. Yet these custom installations can be challenging if you’re not fit for the job.

Working with a qualified installer is a must for any custom installation - the key is to assemble a qualified team and let everyone play they’re respective roles. As the fabricator, you would be responsible for the designwork, the template making, the accuracy of measurements, the overall fabrication and ultimately lead the installers as they complete your vision.

There are times when these wall to wall projects require some on-site attention and numerous trips out to the site. It goes with the territory.

As I mentioned earlier, the choice is yours regarding which markets you enter. You don’t have to learn and enter each market, you should explore the market niches and find your best fit - then commit to being the best in your niche.

I have a few carefully selected articles written by some good authors that I will be posting here over the next few months. These will be focused on general marketing issues that any small business owner will benefit from whether you are a seasoned entrepreneur or a new business start up.

Some of my favorite marketing authors and experts will be featured in the ‘marketing tips’ category… Can you see the category list in the right hand column? Yep… right there.

I cannot stress enough the importance of a sound marketing strategy for your business start-up. You cannot afford to fail at marketing your business. Unless, of course, your back-up plan is to retreat backwards to the average workforce or Corporate America and surrender the dream of self-employment… all because you failed to take your marketing seriously! Blah. Please delete that thought.

Do Not Make This Mistake.

Read all the books you can on marketing, selling, and presentation skills. Develop and mold yourself into a capable and formidable marketing expert in your field of expertise. If you do this, I guarantee you will succeed in just about any business endeavor. It’s that critical!