Don’t Copy These Retail Strategies, If You Want A Booming Real Estate Wholesaling Business
The retail industry is cannibalizing itself. We are seeing the results daily. With more stocks plummeting, big companies losing market share, and having to conduct huge layoffs.
Yet, many small businesses still think that they should copy some of the very same tactics and campaigns that are sabotaging and bankrupting these companies.
Losing Retail Strategies Not To Copy
Rewards programs have become the downfall of many companies. For a start, they are often confusing and frustrating, and just lead to losing trust and more friction in the hard one relationship.
No one has time to sign up for more rewards or discount programs. If you went around a mall today, and gave out your number to every retailer, you may end up spend half a day of your precious time deleting and unsubscribing from all the junk mail and texts.
Which in turn means that all the effort put into these programs is wasted capital on behalf of the business. It just causes more efficiency and friction at checkout, and ruins the user experience.
Especially in the wholesaling business, if you just give people the best deals, they will keep on coming back. No need for gimmicking programs. The money you save on the junk processes can then be simply passed on in lower prices, earning more business and customer loyalty organically.
This can also apply to online sign up walls, or forced activities on social media like sharing with friends to get a discount.
Similarly, trying to force autopay on customers you finance can wreck the relationship and rob you of repeat business if it isn’t working well.
Another is popups and ads on your website. If one popup ad isn’t working, then adding ten more if only going to hurt you 10x more, rather than helping.
The Essence Of Wholesaling
The very essence of wholesaling is to buy low and sell low. Do this, and provide an efficient and streamlined process with a good user experience, and you will win plenty of customers, and they will keep on coming back, and grow the amount of properties that they are buying from you. They will want to refer others.
Save the money on wasted gimmicks and features that detract from that, so you can give better deals, and enjoy better overall net profits. Then you can also build up your budget to do more marketing and fill the top of the funnel with more prospects. Through ways that give them more value and make their lives better and more enjoyable.
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