By Chris Cook
Money has a cruel way of making or breaking business. Some say you must spend money to make it (the government seems to get half this model) others say you shouldn’t spend money until you make it. Still another school of thought says you need to borrow against the future to fund the present and pay for the past (the current government model). Regardless of your school of thought, money is an ever-present constant that drives or crashes your business.
Although more money doesn’t solve every issue, it does make dealing with challenges less stressful. So how do you live another day when things get tight? Yeah, I know the stress of this situation leaves you praying for the local pro ball team to stop in for a no-holds-barred shopping fest. But if that doesn’t happen you might stop to take a deep breath and look for ways to make some money today while doing your best to save a little as well.
The doors are open with no installs scheduled and your first three walk-ins want something repaired that the installer you let go a month ago didn’t quite get right. Your sales guy is running late (probably putting in a job application at the local Starbucks) and you look out the front window and see the tumbleweeds rolling through the parking lot. If this sounds at all similar to your day then you are in luck!
Cleaning and organizing can help to get your head on straight. It also sets the stage for some customer traffic. Seems like every time I started straightening up customers would show up and interrupt things (I’m just saying). Then desperation would take hold and drive me to review last month’s invoices looking for customers who could use some more stuff for their cars. I would start with my top 10 picks then categorize the rest by potential. Next, I would get down my pitch and start making calls. The pitch can be anything that gets customers in the door. Try the system tune-up angle or the direct-sell by offering what they still need to make their system complete. Whatever your pitch, remember the mission: get customers in the door. You can sell once that happens. I can attest to finishing out the end of many months on the positive by providing an additional level of customer service that fills the cash register with money, money, money!
It seems nearly every car dealer in the nation is jumping on the “trash your car for cash” bandwagon. Driving by a new car dealer provides a view of old cars hanging out of dumpsters, piled on one another and spray painted with endearing terms like “Junk” and “Trash”.
It’s very rare for Congress to get an idea that provides an incentive to encourage growth in the free market. The Cash for Clunkers program is no exception. Although any growth that provides some glimpse of hope for a market that has been stuck in the gutter should be cause for rejoicing, we should first look at the real impact of this artificially simulated growth. So what does it cost us to add a new fuel-efficient car to our neighbors' driveways? I have heard that it’s around $6,000 of our hard-earned cash in the form of tax dollars. If congress was capable of getting a clue they would quickly realize that the increased consumer demand is directly related to the novel idea that if they give people their own money to spend, the net effect is stimulus to our economy. With this newfound wisdom I would expect them to go back to Washington (after they finish up getting a dose of reality from some town hall meetings) and get cracking on some new tax cuts so our hard-earned income can be used to buy some great new stuff, like say some cool consumer electronics for the car.
Maybe we should offer up a new program for “CARS”, the Car Audio Rebate Program. We could encourage consumers to bring their electrically inefficient amplifiers that by nature and lack of efficiency must contribute to global warming and trade them in for lighter, more efficient amplifiers that are sure to contribute to better fuel economy. Then bring old tape decks and CD players that create unnecessary waste from tapes and CDs that are clogging our landfills with unnecessary waste. Trade them in for more environmentally friendly MP3 Players. Take up this cause and call your congress person today and suggest that your tax dollars be put to good use by providing the consumer with the necessary simulating incentives to buy more mobile electronics!
So if you’re thinking that I am just venting a bit of frustration about how I feel our government is out of control and spending all our money on stuff we don’t want, I will clear it up with one of my favorite quotes from our second American President, John Adams, “In my many years I have come to a conclusion that one useless man is a shame, two is a law firm, and three or more is a congress.”
By Chris Cook
You’re up early watching a bit of the morning news while enjoying a cup of coffee, deciding whether you should fix some breakfast or just stop by your favorite breakfast spot on the way to open the doors once again. Yes, it is another day in the life of a mobile electronics retailer. You may be suffering the effects of a bad year thus far but you feel the tide rising and are hoping this recession will soon pass and all will be back to normal (whatever that was). So let’s look at normal.
What is the standard for our business and type of customer? The car audio demographic is thought to be predominately male from 16 to 24 years old. Is that who is coming in your door? Or has there been a shift to a broader demographic that requires a different approach or product offering? Has the target demographic changed their product purchase interests? All great questions that for the most part escape answers. So tell me, who is coming through your door and what products are they looking to purchase? What if we are searching for normal, hoping to breathe a sigh of relief, only to find out that normal now means something much different for your business than it did before the recession?
When reviewing all the changes taking place in the market for automobiles, wireless devices, traditional autosound and everything else that falls into our category, we may very well be witnessing a permanent shift in consumer lifestyle that now involves saving more and spending money on products that they either really need or really want and are willing to save for. This shift means that now, more than ever, you need to maximize every customer’s experience. You can’t let them leave the store without letting them know that you are there to help them save money while adding value to their automobile. The consumer experience is the key to success. As a mobile electronics retailer you must make every customer feel as if you are a trusted friend looking out for their best interests.
Treat their automobile with the utmost respect as well. Paying attention to the details, like a clean and organized store that presents an image that directly appeals to their needs will go a long way toward building a solid base of repeat and referred customers. Do that and you can celebrate a job well done and live to work another day. Now get in your car and take the long way home so you can listen to the great sound system you had installed with pride. Don’t forget to stop and pick up dinner!