FREQUENTLY ASKED QUESTIONS

Spanning almost two decades, Robin has consulted with thousands of retail furniture store owners across the country about the pros and cons of “high impact” sales events and the correct process for planning and execution of those projects. She has found that regardless of store size, number of locations, or market area, store owners generally have the same concerns and ask very similar questions. Here are some of the most frequently asked questions with Robin’s responses:

I’m contemplating running a big sales event for the very first time but I’m a little skeptical, what advice can you give me?

Being skeptical will motivate you to do your homework and get educated to all aspects of the sales event process including the different types of “high impact” sales events and how each will impact your business both in the short and long term. Talk to other furniture store owners about their past sales event experiences and ask lots of questions. Ask for references and check those references. As you work through the process, you’ll quickly understand the contrast between the different types of sales events and the companies that execute them. Select a company who is aligned with your values and culture and one who possesses the ability to achieve your goals.

What are the different types of “high impact” sales events?

It’s a bit more complicated than this, but for simplicity’s sake let’s separate “high impact” sales events into two categories: 1) big sales for businesses who will remain in business upon the conclusion of the sale and 2) big sales for businesses who will close at the conclusion of the sale. The two types of sales are very different requiring a different planning and execution process. To avoid the pitfalls of a disappointing “high impact” sales event experience, you must find a company with expertise in the type of sales event that is specific to your needs and outcome expectations.

I’m talking to several other companies, please explain the Robin Prather and Company difference?

This is my favorite question and the one I’m most passionate about. We’re not the stereotypical promotion company; we are today’s alternative…. a company bringing innovative ideas to an old and outdated promotional sales event platform and providing furniture retailers reasons to consider or reconsider

“high impact” sales event options.

It’s so many things that make our company different. It starts with our highly experienced and committed people from both the corporate office and those out in the field (on-site sales management teams) and our partners WB Media Group and Revolutionary Retail who understand and believe in our purpose of bringing real value to our clients by delivering the finest sales events in the industry.

Not only are we interested in accelerating sales numbers at a guaranteed gross profit margin, it’s about our commitment to growing market share and building brands both during and after the “high impact” sales event experience. No other promotion company has ever gone it that direction, but we have…. it’s our specialty!

Why would I run a “high impact” sales event if I’m not liquidating, closing, or going out of business?

Many of the most successful furniture retailers in the country conduct short-term “high impact” sales events to strengthen their positions…. they are not willing to settle for okay, they want more! These stores are not in financial distress, and they certainly have no intensions of going out of business. For some of them, these sales generating events are incorporated into their marketing campaigns on an annual basis. They are seeking a competitive advantage and want to capitalize on special opportunities by looking beyond normal retail sales and marketing activities.

What are some credible reasons to consider running a big sales event?

Whether it’s addressing current issues of today like dwindling store traffic, sales and margin OR other things like remerchandising, preparing for a major renovation project, moving to a new location, consolidating locations, planning a retirement, celebrating a big anniversary or company milestone or simply going after more market share and branding opportunities…all are credible reasons to consider “high impact” sales event options. So, when you’re ready to conduct a big sales event without using exiting the market strategies, it’s time to call us…. we are experts in planning and executing big sales events for furniture retailers positioned for long-term success.

Do “high impact” sales events really work?

If planned and executed properly, the answer is yes! Think about this…there are no strategies out there in retail furniture sales and marketing that can rival the results achieved during a professionally conducted sales event. Working within a cost-effective advertising budget as we do, what other strategies can come close to increasing normal sales volume by 200% to 300% or more without losing gross profit margin, and all while growing market share and building the company brand. There is nothing that equals the results of a “high impact” sales event with us…nothing.

How is it possible to achieve such a high level of results?

We all know you can’t get a different result by doing the same old thing. This certainly applies to “high impact” sales events. If you’re willing to step outside of your comfort zone and do something different… phenomenal results can be achieved. This doesn’t mean giving up control of the business, it means having the confidence in us to implement new ideas and processes, introduce new advertising strategies and work our “selling system during a short-term sale…. when it all comes together magic happens!

What are the driving components of a “high impact” sales event?

The driving components of a “high impact” sale are advertising, inventory and selling system. As a full service “high impact” sales event company, we offer a complete sales event advertising program, an inventory plan with options and RPC’s selling system including assigned sales personnel support.

Are all furniture stores good candidates for sales event success?

Definitely not. As examples, some furniture stores have a history of going in and out of business on a regular basis, some haven’t been in operation long enough to warrant this type of sale, some have run too many or too recent “high impact” sales, others might be in a state of financial distress that cannot be overcome. In all scenarios, RPC would decline participation. That’s why it’s so important to select a company that will provide an honest assessment of your business with the willingness to decline participation in the project should a low probability of success be determined.

How much inventory do I need to have on hand for the sale?

This is an important question because you can’t have a successful sale without the right inventory…it’s one of the key components that drives the sale. We utilize hassle-free inventory strategies allowing for easy and immediate transition back to normal retail activities with fully merchandised showrooms upon conclusion of the event. We’ll consult with each retailer and recommend the best inventory plan for their big sales event including inventory level requirements, brands and mix and we’ll discuss the recommended plan for flowing inventory during the event including back-ordering product. If additional inventory is needed from an outside source, those options will be discussed.

Give me some specifics about your program, like how long do these sales normally last?

Our sales events are themed driven with short six- or seven-week terms. Certain types

of sales events will require longer terms. This timeframe allows us to get in and out while accomplishing sales event goals without the negative consequences of diminishing returns including the loss of profitability. RPC sales events are commissioned-based and work for stores of all sizes, stores with one or multiple locations and in all markets across the country. These shorter termed sales are perfectly suited for retail furniture stores that will continue in business upon the conclusion of the sale.

Is a gross profit margin guarantee necessary when negotiating the sales event agreement?

Yes, it is extremely important to negotiate a gross profit margin guarantee to be included in the sales event agreement. Very few companies offer such a guarantee; however, with us it’s always included in the agreement. With this guarantee in place, you can rest assured that margin is not sacrificed at the expense of higher sales volume.

How often can I run a big sales event; some stores run them all the time?

This is something our company fights against all the time…it is never good for a furniture store to perpetually run “high impact” sales events. If you’re a large high-traffic and volume furniture store located in a larger market, you can potentially conduct short-term “high impact” sales boosting events on an annual basis without experiencing the consequences of diminishing returns. However, if you’re a smaller store located in a small market, we would recommend events of this magnitude to be held less frequently, maybe two or three years apart and reserved for special opportunities.

I don’t want to lose my salespeople if I run one of these sales, what role will they play?

Your sales personnel will play an important role…they will sell. As you will resume normal retail sales activities upon conclusion of the sale…you will need them! To achieve and exceed projected sales volume goals and working with in-house sales personnel, we will complement your staff by assigning a talented event manager and additional sales personnel to each event location. Based on the event’s sales projections and the number of in-house sales associates working the sales event, we’ll determine the number of RPC assigned sales associates needed for the sale. Working together, the united TEAM will achieve and exceed sales and performance goals.

I’ve heard your sales event advertising program is the best in the industry, why is that?

By teaming with WB Media Group, experts in retail furniture advertising and the digital marketing space, we’ve introduced digital advertising to our sales event media campaigns. Leveraging digital strategies with the more traditional means of advertising, we’re reaching more people in a more targeted way…and for way less money. By doing so, we’re converting sales at the lowest cost possible, and our clients appreciate it.

Based on our expertise, research of your market and in consideration of your advertising history, we’ll lay out our recommended and transparent “pay as you go” plan including the event’s recommended weekly media calendar and budget in its entirety. Driving traffic, building brand awareness, and growing market share is what we do best! Our program is tops in the industry…no other company comes close!

I’m consolidating several of my stores to one main location, can you help me with that?

Of course we can! However, this will be a much bigger project than a short-term sales event and your goals will be very different. Even though you’ll be closing several locations and liquidating those inventories, your business will continue at the main location following the consolidation. So, in this scenario, it will be critically important to project an advertising message that will not harm your company brand. With us, you’ve found the right people to do just that! Even with consolidation, we can expand your market share and grow your brand. Additionally, in these bigger and longer-term sales event projects, additional inventory support from an outside source is sometimes needed. If this is the case, we’ll turn to our partner Revolutionary Retail for inventory support options.

Our store is located in a small rural town, will something like this work?

We do not shy away from small-town stores because many of our most successful sales have happened there. We recently conducted a sale for a destination store in a town with a population of fifty-five hundred residents. This highly respected family furniture store was approaching their 35th anniversary and had never run a “high impact” sale previously. Using an anniversary theme, the sale exceeded all expectations including expanding the store’s market share. With our digital advertising we were able to draw customers from a hundred-mile radius. Not only did we participate in the annual parade, we brought value to the entire community. The ice cream shop down the street keeps asking the owners when they’ll be running their next big sale…it was good for every small business in that small Idaho town!

How long does it take to get a big sale like this going?

Good question and usually the very first question asked. Our sales events are thoroughly planned prior to commencement. We have professional sales teams on standby, ready to be assigned to sales events anywhere in the country. It’s the advertising component that takes the most time to put in place. If no additional inventory support is required and from the time an operating agreement is signed, we will need a maximum of four weeks to get the sale started.