Our client had a product in home improvement stores that had great margins, but poor positioning (and a weak display) made it difficult to move in volume. Not only that, but the product itself had a relatively small niche, with few people understanding how it works and thus, unaware of the value it delivered at such a high price point ($4,000 - $5,000).
Not wanting to lose the opportunity afforded by a high-traffic retail store, we went to work. We discovered that unlike other products, this one wasn’t going to sell itself no matter how it’s positioned. Our solution? Create a better sales process. Utilizing consumer demographics received by the manufacturer, as well as sales and inventory data from stores, we were able create a virtual ‘heat map’ of lost revenue to show the value our new process would add to underperforming stores. Given the chance to prove our theory, we set up displays in four key locations to test this new process. That involved a more interactive product demonstration, strategic positioning, and most importantly, dedicated sales people on-hand to sell free, in-home appointments. By using this approach, we were able to create immense in-home sales opportunities in just 30 days. Whereas the four test stores previously sold six units collectively the year before, this new process yielded 131 – leading to a retail value in excess of $500,000 and a projected $65 million in revenue when applied to a quarter of national stores. Learn more
