Come see us at Nationwide's Primetime in Las Vegas March 10-12
Come see us at Nationwide's Primetime in Las Vegas March 10-12
For starters, determine your needs and establish both short and long terms goals for the project. Do your homework and begin educating yourself to all aspects of the event process including the different types of “high impact” events. Talk to other furniture store owners about their past event experiences and ask lots of questions. Ask for references and by all means, check those references. As you work through the process, you’ll quickly understand the contrast between the companies. Zero in on a company that is aligned with your values with the ability to help you achieve your goals. Never underestimate the importance of knowledge in your pursuit of the perfect event company partner.
Yes, in recent years many of our nation’s top and most respected retail furniture companies conduct “high impact” sales boosting events. These leading stores are not in financial distress and certainly not going out of business. I’ve worked with hundreds of these top retailers. For many of them, I was directly involved with their very first “high impact” event experience. To answer your question; they conduct these sales events because they are not willing to settle for okay, they want more and they understand the importance of taking advantage of opportunities. Not only is a properly planned and executed “high impact” sales boosting event the best tool for dramatically increasing sales volume; these events demonstrate the ability to expand the retailers market share both during and post event. Protecting the company brand is high priority for all of these retailers. Positive experiences have proven if partnering with the right event company, their company brand will not be compromised.
Great question, the answer is yes…. but here’s how it gets tricky. Only a very select group of national event companies can pull this off. For many years, most promotion companies have conducted so called “cash raisers” using the exact structure of a “GOB” sale. In essence, they are conducting “GOB” formatted events disguised as “cash raisers.” Unfortunately, for most furniture retailers, this approach never turns out well. Here’s where the importance of doing your homework comes into play. Seek those select companies who have your best interests at heart while possessing the ability to properly structure “high impact” sales boosting events for furniture retailers like yourself who have no intentions of shutting down. Here at RPC it’s our specialty. Our events are retailer-friendly, shorter termed, carry positive advertising messaging and structured for easy transition back to normal retail activities immediately upon conclusion of the event. Best of all, we’re interested in building your brand both during and beyond your event experience.
Unfortunately, that observation is often true and undoubtedly the biggest source of frustration for store owners. To overcome these challenges, as the store owner you need to demand certain things as pertains to event advertising. First, never relinquish control of your advertising to anyone. If a promoter offers you an advertising guarantee in return for their complete control of your advertising budget and creative; please decline. Secondly, please ask for complete advertising budgets reflecting weekly breakdowns prior to the commencement of the event and always ask to see examples of TV commercials, radio, print, outdoor, digital and other mediums planned for your event. At our company event advertising is not only cost-effective, it’s fun, exciting and even eye-pleasing. We’ll also introduce new advertising strategies including digital technology allowing us to reach more people, more often and in a targeted way. As an added bonus, we’ll leave you with workable post event advertising ideas and recommendations including the continued implementation of digital advertising strategies.
The answer is, absolutely NOT. That’s why it’s so important to select a company that can provide an honest assessment of your business with the ability to decline participation in the event project should low probability for success be determined. Upon extensive conversation with the store owner, our company will request pertinent and accurate information regarding the store’s current and past store performance history. With this information along with our experience working with other stores in similar markets, we’ll prepare an “Event Proforma” to include projections and recommendations. With this analysis and full understanding of the numbers; we’ll quickly determine your potential for “high impact” event success.
Yes, it is extremely important to negotiate a gross margin guarantee to be included in the event agreement. Very few event companies offer such a guarantee; however, here at our company, 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 high sales volume. A high event concluding gross margin means higher event profits.
Congratulations and what a great time to capitalize on an opportunity and do something really special! To start, you’ve given me five great reasons as to why you are destined for “high impact” event success. You’re a family business, been in business fifty years, first-ever “high impact” event, loyal customer base and instant credibility by incorporating “anniversary” in event theme and messaging. Our “high impact” events are uniquely designed for retail furniture stores just like yours; stores positioned for long-term success following the conclusion of the event. Because our advertising messaging will tell your story and constantly reinforce fifty years in business with a bright future ahead, and by avoiding the use of distressful language in the advertising campaign, your loyal customers and many happy new customers can be assured you won’t be retiring anytime soon.
That depends on several things. If you’re a large high-traffic furniture store with a great reputation, doing high volume and located in a good sized 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 small store doing medium to low volume and located in a small market, I would recommend events of this magnitude to be held less frequently.
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