A Hyderabad based luxury furniture retailer client was solely depending on architects for their business, with almost no retail business. 3 months of branding campaigns took the brand outreach to more than 2+ lac target population, and started yielding enquirers.
Ever since demonetization, and due to real estate slump, its sales have been coming down. The only source of new business for them is through a few established long term relationships with architects. Their team has not been sales savvy, hence though they served for more than 1000+ customers, they almost don’t have database. Some of the inventory, amounting to crores, has been lying in their showroom, for years, as they have no idea how to sell the same.
They have no idea, as they never tried, how they can attract direct retail customers, or direct walk-ins. In other words, they are no sales ready, despite doing crores of business, predominantly from known architects.
After thorough review of client situation, we did put together a marketing strategy, implementable in next 6-8 months, with progressive action steps, month on month, with goals
- to create retail line of new business, with aim to sustain it, with the least possible customer acquisition cost
- to strengthen existing line of business
- A special focus on moving old inventory lying in showroom.
1) We identified their end customer persona ( their age, income, net worth, medium to reach them, and their typical interests )
An outreach campaign was crafted to reach out to them, through social media advertising, with leveraging advanced targeting options.
2) As a second, and more proven channel of business, another outreach campaign was crafted to reach out to architects firms in the city. Through social media advertising, followed by email marketing campaigns.
3) A special video clips for each of high end kitchens, which have been lying on the showroom floor, for years, and they have been advertised to people based on end customer persona criteria.
Profit on a couple of modular kitchens sales can bankroll the cost for a whole year of branding & marketing campaigns.
That means, if marketing budget is increased, more will be resulting sales, and that means client can literally bankroll.
- Action : Social media abuzz, with intriguing daily updates.
- Feel : With new confidence gained, campaigns can be continuously tweaked to improve outcomes.
- Average day : Sales team started responding to enquirers, and customer visits, apart from enquirers from new architects as well.
- Current status : Management now looking for expansion
You may relate this case study, to an extent, or not, but if you want to explore options to put your best foot forward, and to take your retail business to the next level, let us know.