Understand that overmanaging should not be confused with micromanaging. Overmanaging, by my own definition, is the act of being intentional and implementing a system for every touch point your customers can possibly have with your business.
Walt Disney once said, “People can feel perfection” to explain to legendary Imagineer John Hench the importance of paying extraordinary attention to detail and exceeding Guests’ expectations.
Here is my list of places where you absolutely must be intentional and overmanage your business, your staff and your marketing to achieve increased sales, profits and most importantly improve your customer experience.
YOUR ADVERTISING AND MARKETING – the topic I am speaking on this week is about just how diverse the three key customer groups are that can do business with you. Millennial, Gen X’ers and Baby Boomers all have unique needs and specific purchasing motivators.
When you look at your advertising which group exactly are you speaking to? They are all well established in adulthood at this point in time. Each group has a large enough population base with money to spend. Yet, if you look at most mattress industry advertising you will find that it only speaks to one audience – the person who is in desperate need of a mattress – today only and should only purchase if it’s on sale.
Few if any ads actually showcase features anymore, let alone benefits. Benefits are what motivate people to buy – pain and gain. Where have all the benefits gone in the advertising of our wonderful products? And why are we not communicating these benefits, and how they specifically relate to each age group and help each to wake up happy?
My suggestion would be to understand first, which buying group is most populated in your market. Next develop key marketing messages that focus on them and their needs and how your products will benefit them. Finally develop a message that will present a big idea as to how you help your potential customer achieve what they want and that it can only be found in your store.
YOUR SALES PROCESS – like advertising how defined is your sales process when it comes to each age group – Millennials, Gen X’ers, and Baby Boomer? Each one is in a very different stage of their life and each has their own unique pain and gain triggers.
How exactly are you, with your current sales process, hitting a nerve and getting each of these unique groups to move along closer to a final buying decision? Those who decide to overmanage their sales process undoubtedly have an advantage over their competition.
For so long the go to process has been qualify, comfort test, present and ask for the sale. But where is the conversation about how your customers sleep needs fit your sleep solutions? In my stores we sit down in an inviting and comfortable lounge and have a focused conversation. This entire system is intentionally designed to help my sales staff understand the struggles the person in front of them has with their current mattress, what is troubling them while they sleep, why they often wake up feeling terrible and ultimately how we can prescribe the right fit with a new mattress to help them wake up happy.
This entire process and conversation is highly intentional and overmanaged to yield a higher average sales ticket. The first quarter of this year our main master bedroom sales ticket average broke the $3,000 mark for the first time. Yes, that is right, we track master bedroom vs. child/guest/other and you should too.
In the end what comes out of this process of highly consultative selling is one of two very nice outcomes, a sales ticket that is 340% higher than the industry average of $950. Or, a highly qualified and highly time invested prospect (or be back) that is interested in our store, our people and our products and is willing to be contacted again about their upcoming purchase in order to purchase from us in the future.
YOUR FOLLOW-UP – far too often I hear that the “be back” bus ends its day far, far from your store and never returns. I can tell you with 100% certainty that this mindset is entirely inaccurate for today’s mattress buying customer.
Today more than ever before you have customers at large taking more time, seeking more information, searching out referrals and looking at reviews throughout the entire buying process.
An overmanaged sales process that is intentional and designed to leave the prospect with something of value, help them feel like they have learned something genuinely unique from you and your store will allow you to establish a foundation in which follow up messages are received, opened and responded to.
The next step when it comes to overmanaging your follow-up is to design your follow-up around the media your prospect is most likely to respond to. Additionally, some people feel far more comfortable offering their cell phone number as opposed to email. Others will happily share their address and email but not phone. Most everyone we work with in our store, 80% +, will supply all three contact points when asked. But remember you must give before you receive by offering a sales presentation that has value and educational benefit to their buying journey for this kind of compliance to take place.
Those who design their follow up to use phone, email and direct mail and scheme to have these messages arrive in a timely manner will see their sales rise exponentially. In our stores we see about 25% of all be backs return to purchase which lifts our closing ratio to an effective average of 80-85% overall.
Now it’s time for an obvious and self-serving commercial. My company provides services and technology to help with all of this and so much more. From start to finish we have a turn key program to help you elevate the systems and processes in your business and grow your sales six figures +.
If you are interested in discovering more about these systems and are ready to commit to leveling up in your business, and move beyond just exchanging money for white rectangles please send me an email at jeff <at> renegademattressretailer.com
Only email me if you are ready to take charge in your business. I am no longer working with anyone who says, “but I can’t get my employees to do….” Also, you should have a certain kind of chip on your shoulder and determination to be the very best choice to buy a mattress from in your marketplace. You should be sick and tired of hearing that retail is dead, and you want to prove those naysayers wrong.
If you check all these boxes and you’re ready for additional six figure plus (maybe millions if you have 10+ stores) revenue growth in your business and understand that growth like this doesn’t come free or cheap reach out to me today.
I know I’ve eliminated 96% of those reading this, but if you remain and can honestly check each box, please email right away you will discover that what I have to offer is game changing.