​By Moe Lastfogel
Director of Sales and Marketing for The Retail Observer

I was researching articles on networking for this month’s Musings and came across this piece by Angela Hill, president & creative director of Incitrio, a sustainably-minded branding agency located in San Diego, CA. Angela put together the great tips below that summed the topic up easily.

“Successful networking is basically the same thing as personal branding, and at the end of the day, it’s all about developing a good strategy. Think of your networking strategy in terms of a two-pronged approach: 1) Events where your target audience or circle of influencers are most likely to be and, 2) Events that match your personal interests.

BusinessNetworking—For the business networking events, make sure to pick a time of day when you’re at your peak. For example, if you are a morning person, only go to breakfast events. If you are a night owl, go to evening socials and dinners. By choosing a time of day when you are at your best, you’re guaranteed to reduce the nervousness factor and make it easier for yourself to meet new contacts.

Networking is like Dating—People buy from people they like, know and trust. Great sales, and therefore networking, is all about building long-term relationships. So, if you think about networking like dating, the rules are fairly straightforward: be a good listener, make eye contact, don’t act desperate, don’t have a triple espresso before you show up, shower, dress nice and smile.

Control the Conversation— Another tip is to strategically control the conversation. People love to talk about themselves and the more they talk, the more they feel good about you. So, start the conversation by asking them questions about themselves and be genuinely interested. Find ways to connect what they’re saying to what you do or how you can help them. Eventually, they’ll get tired of talking about themselves and ask what you do. That’s your golden opportunity to modify your elevator pitch and integrate key points that came up earlier into what you say.It shows you’re actively listening, and you can customize/integrate what you do into a problem they’re trying to solve or a value-added benefit to their client list.

Convert Prospects Faster—Finally, be sure to followup! Send an email or a personal note after an event, ideally the next day. Connect with them via LinkedIn while you’re still on top of their mind. If it’s a really good potential contact, suggest a virtual coffee or lunch meeting in 2-3 weeks so that it’s non-threatening but keeps the momentum going. The more you do, the closer you get to the close of the sale.”

Happy and Safe Retailing,
Moe Lastfogel
​moe@retailobserver.com

As we move further into 2021, I have been reflecting on some of my past thoughts regarding product sales. Even with the Covid onset in 2020, many of you had some of your best sales numbers in years — based on supply, of course. What products could you have added or can still add to help your bottom line and grow your profit dollars? Here are some of my thoughts:

To the appliance dealers with vignettes in place that show plumbing and lighting products: many of you have changed from a basic lineup store and have added beautiful lifestyle kitchen displays to your showrooms. Manufacturers have designed these new display kitchens to show how the product would look in a true kitchen setting. They have sinks, lighting, hardware and various props to give a true home feel. Why not partner with a bath distributing company and/or lighting distributor to sell these add-on products? Many of them are very willing to set up your kitchens with these additional products for you to sell.

Cabinetry hardware is also a great source of extra income. Hardware displays take up little room and are highly profitable. Place the display by your refrigerator section to give your clients a good visual offering based on the handles they need. Lighting is another easy sell, as it can be placed anywhere in the showroom. If you have 5,000 sq.ft. of floor space you probably have 5,000 sq.ft. of ceiling space and plenty of wall space, too.

Sinks and faucets are a definite must sell. Do not sell what the big box stores have. Upgrade your client to the high-end products that the big box stores do not carry. Let’s face it, if you can sell a $12,000 range you can sell a $1,500 sink. Let’s not forget water products. Filters, instant-hots/colds, disposers and air switches all make great add-ons to your bottom line.

There are many other opportunities out there in multiple categories that can add to your bottom line. As the year goes on, we will be bringing you information on products and partners to help you add new products and new categories to your showrooms.

Happy Retailing,
Moe Lastfogel
​moe@retailobserver.com