Apple retail stores generate more dollars per square foot than any other retailer in the world. Scott Galloway points out in his new book The Four that Apple differentiates itself from other tech giants Google, Facebook and Amazon, because Apple is a luxury products company. Consumers spend eight to ten times more for an Apple iPhone than a Samsung Galaxy, because they are infatuated with the brand. Apple products connote a status that makes consumers feel good about their purchases.
Follow this four-step recipe to make your showroom a destination of choice:
First, understand your customer’s goals and showcase why your showroom is best suited to meet those goals.
Positive reviews and word-of-mouth referrals are gold to kitchen and bath showrooms. Imagine what your bottom line would look like if every one of your customers posted a positive review on Yelp or raved about the quality of your service and products to friends, neighbors and coworkers? Referrals can happen naturally or you can create them. Consider the following:
Think about it – you and your team spend an inordinate amount of time either preparing, reading or responding to emails. Imagine how much more productive you and your team could be if you could email under control.
Step one, determine what you will do with each email that you receive. That does not mean you respond to each email immediately. There are three main options:
It’s the time of year that many people consider making a resolution to improve their life, business, relationships, health or a host of other reasons. However, the odds say that most resolutions won’t be successful. According to one study, only 8 percent of New Year’s resolutions are kept.
Change is one of the most difficult tasks for most people. It becomes even more challenging if the change involves subject areas that bore you or tasks you don’t like. However, change does not have to be painful writes Dr. Barbara Oakley, in her new book, Mindshift: Break Through Obstacles to Learning and Discover Your Hidden Potential.
An interesting article in Scientific American shed light on “Why Smart People Do Foolish Things.” Author Heather Butler relates that there is a disconnect between how intelligence is measured and making smart decisions. The Intelligent Quotient (IQ) test is often the barometer of intelligence. The test evaluates ability to solve visuospatial puzzles, math problems and vocabulary questions, recognize patterns and conduct visual searches. Butler understands that being intelligent offers significant advantages. Intelligent people generally do better in school, have better jobs and careers and are less likely to get into trouble (e.g., commit crimes) as adolescents. However, Butler notes that being intelligent does not necessarily predict other life outcomes such as well-being. Research shows that most intelligence tests fail to predict one’s decision making ability, and that helps to explain why smart people sometimes do foolish things.
A University of Southern California Business School professor study of 1,000 sales identified the distinctive characteristics and habits of top performers. He found that 15 percent of those surveyed had exceeded their quotas by more than 125 percent. Here are the key findings of the study:
Making your brand relevant and socially useful is one of the challenges affecting kitchen and bath showrooms. How to you accomplish this? The first stop is your website. Are you providing information that customers want? Are you making it easy to find information? Pretend you are a customer looking to remodel your kitchen. If you went to your website, would it deliver the information you want and need? Would it encourage you to call, email or visit your showroom? Ask yourself what you can do to make your brand more relevant and useful? This is a great place to start because recent research found that consumers find 44% of all brand experiences as boring.
There’s a fine line between risk taking and dumb. Many of the great CEOs in today’s corporate world, including Amazon’s Jeff Bezos, Netflix’ Reed Hastings and Coke’s James Qunicey believe in the power of failure. If you are not taking risks, you are not thinking creatively enough they argue. One of Bezos’ great competencies, and there are many, is that he is quick to pull the plug on projects that don’t appear to pan out. As Scott Galloway points out in his new book, The Four: The Hidden DNA of Amazon, Apple, Facebook and Google,Bezos divides Amazon’s risk taking into two types: 1) Those you can’t walk back from (“This is the future of the company.”), and 2) Those you can (“This isn’t working, we’re out of here.).