The impending recession has consumers worried, with most shoppers planning to spend less than before in 2023. Equally, rug manufacturers and retailers are concerned about a drop in sales — and some are seeing a decline already.
If you’re a manufacturer serving retailers, this is an opportunity for you to differentiate yourself and create stickiness by better serving your clients in this challenging economic climate.
Let’s look at some strategies to help you do that.
Why should retailers buy from you?
Every one of your prospective and existing clients has an unspoken question in their mind: why should I buy from you instead of your competition?
Your prospects and clients have a lot of choices. No matter what you’re selling, the buyer can probably find something similar somewhere else, possibly at a lower price. So why should retailers buy from you? Because you’ve created radical differentiation.
Most companies attempt to differentiate through their products and services, but your competition is doing the same thing. They are innovating, coming up with new colours, new materials, and new tech. To succeed, you must create differentiators that go beyond your products.
There are dozens of proven strategies for creating differentiation. One proven strategy is to improve how your products and services are delivered.
Consider where manufacturers could do better with delivery. Are there aspects of your service you can guarantee, such as delivery times? Call 20 of your clients and ask them what they would like to see improved.
Once you’ve identified a common problem, create a repeatable path to resolution — and undoubtedly answers to the unspoken question. By creating radical differentiation, companies serve their clients better and set themselves up to thrive during a recession.
Provide access to the Roomvo visualizer.
Another great differentiator is the Roomvo visualizer. If retailers are having problems keeping customers on their site or getting sales over the line, Roomvo improves engagement and conversions.
Shoppers spend twice as long on websites when using Roomvo, and they’re five times more likely to convert. Encourage retailers to use Roomvo throughout the sales process – from the first time the customer lands on the website to in-store visits.
Plus, when manufacturers join the Roomvo Partner Program (RPP), all your retail partners can add Roomvo to their site for free. This is a great way to provide extra value to retailers — and boost sales for both parties.
Create helpful content.
What are some common issues that your clients face, and how can you help solve them? Establish yourself as an industry thought leader by creating educational content that solves your clients’ biggest problems.
Here are some of the questions retailers are asking:
- How to recession-proof their business
- How to attract quality clients
- How to close more sales
- How to keep their prices stable despite cheap competition
- How to grow their business without burnout
If you don’t have anyone on your team who specializes in these topics, bring in guest experts to help.
Next, let’s look at the different types of content you can use to support your retailers and become a trusted voice in your market.
Webinars are a powerful way to help retailers solve problems and create loyalty. They’re also an excellent source for additional content. Webinars can be recorded and sent out as replays, repurposed for a YouTube channel, included in a training area of your company website and turned into podcasts.
In the US 12+ population, 62% listened to a podcast last year, and 79% were aware of the medium. Podcasts are popular because they offer a communal experience that can be consumed at the listener’s convenience.
Interviews are a popular podcast format as they allow you to bring in guests with expertise in any area that dealers need help. You can also encourage participation with your audience by asking them to submit questions.
In a 2021 survey, 83% of respondents preferred watching video to get information or instructional content. However, most companies who create videos for their retail clients focus on training around their products and services. Product training is important, but don’t forget to offer your guidance on relevant topics and show retailers your support.
Blogs are another effective way to deliver relevant, problem solving content to your clients. Again, don’t make it all about your company and your products. Focus on content that solves the problems keeping retailers up at night.
Strengthen retailer relationships.
Despite the challenging economic climate, rug manufacturers are well positioned to strengthen their retailer relationships. By creating radical differentiation, providing access to the Roomvo visualizer, and creating educational content, manufacturers can create stickiness with retailers and better serve their needs.