What Brands to Have In Your Car Audio Shop
So in today’s world some people want to have certain brands because of nostalgia, loyalty, or personal preference.
What should I sell in my store?
That is all fine but today you need to have a little more strategy when looking to sell certain brands. I am going to give some examples of what you can do in your store in order to maximize profit and grow you stores image with your local community or online.
High Margin price protected brand
This is something you want to try and pick out first when you are looking at your current line up. You want to make sure your store has a company that not only has a good profit margin but is something that is not a struggle to sell based on price. This means that a MAP, or Minimum Advertised Price, structure is enforced by the manufacturer. When everyone has to sell at the same price is give you the advantage to become the best at service.
You want this product to be your go to product for any customer. This is a brand you want to actively build credibility with so you can keep profit margins high and keep the dollars moving through the store. You won’t always sell this product but you want it to be what you try to push your client too based on their needs.
Popular brands that everyone knows
You want to have at least one of those brands that everyone knows. This is something that may not be your go to product, but something that almost every customer that walks in knows about and knows it is good. A lot of times these sell themselves and while you can recommend your high profit SKUs you won’t always pull that customer away.
Sell this speaker and make sure that you can keep it in your store. Once you have it in your store try and keep a “Popular” vs a “High Profit” comparison in order to show customers the difference and let them decide. Either way, make sure the customer is happy with their choice whether it is name recognition or performance. Both ways you win in your customers eyes.
Here you want to keep something that is a “go to” for the customer that only wants to buy on price. Some times these customers are looked down upon but they are all here to fix a problem they have. There is no reason to turn these customers away just because you feel “too good” to sell it or you think it is “too cheap”.
In todays world, almost all products are good no matter the price point, it’s all about longevity and features. You want to make sure you have an offering for them because they will just go to your competitor if you don’t have it.
The Best of the Best
This is a brand that shows what everyone should strive for. You want to make sure every customer that walks in the door gets a chance to experience it as well. This is not something that everyone will purchase but when a customer experiences what they could have it makes it much easier to upgrade them in the future.
A common experience is a customer comes in a $100 item but you show them a $1000 item that does what they are looking for. You show them how amazing this item is and why it is worth that money. Once they understand the difference and why then it makes it much easier to get them to buy the $500 item that gets them close. If you didn’t have the $1000 item to show them in the first place they just wouldn’t even know why its worth spending the $500 that they did.
Focus on making a sale to every customer
Once you have these products that fill every hole then you just have to make sure you talk with every customer and find the solution to their challenge. They are coming to you because they want to buy something. It’s your job to find out what the problem is that they have to explain why they want to buy. Once you know this then it is a matter of getting the best solution to fix that issue. When executed properly you should be able to sell almost every person that walks through the door.
We are all in business to sell things whether it is online or in a retail brick and mortar environment. In order to maximize what we are doing we need to make sure you are following a strategy on what you have in your store. I hope that this quick article can help you find that. Start implementing this in your store today and let me know how it affects your sales numbers.