Money Making Ideas for the Furniture Industry
Furniture is not the easiest industry to go into, even though it might be the most exquisite. The trouble with moving furniture inventory is that pieces are expensive and long-lasting. Consumers generally look at furniture as investments, purchasing every few years, maybe even longer in between. Unless you live in an area that is booming with real estate development, you need to get creative with how you incite the purchasing power in your customers. Let’s look at a few of the best money making ideas for the furniture industry.
Open house showings
These are a clever way to get your name on the street and your pieces in front of consumers without needing them to walk into the store. Network in your local area and see if you can help provide the furniture for open houses, new homes or showrooms in new buildings. Clients will often fall so in love with the staging of the space that they request the same set-up after or with purchase. If this happens often, you can work out a financial arrangement with the realtors or home owners. Additionally, there are so many new home owners walking through open houses. Even if they don’t love the space, they’ll see the furniture and are sure to be in your store in the coming weeks or months.
The trick about Giveaways is giving away something substantial enough to motivate consumers to participate in the raffle or social media campaign. Furniture is an amazing giveaway! No matter the size, its value is significant to someone. Use smaller pieces to generate buzz about your brand. Use more expensive pieces to give something of value to your consumer base. Remember, it is important to align your campaign tactics with insight on your consumer base.
Customer appreciation events
These are necessary!! It gets customers in the store. It lets them know you care that they feel they’re part of a family. Part of something bigger. Part of a brand that cares about their place in the business. Even if you do not see a spike in sales on these days, you’ll slowly curate that loyal consumer base you want. Every new place they purchase, new friends that move into town and upgrades as life grows will require investments, and now they will come to you.
Make it as easy as you can afford
The biggest selling point if you can make it work in your business model? The ability to finance in-store and at purchase. Big investments are significantly less daunting when their price tag is halved or twelfth-ed the day of sale.
It might be worth the investment to hire a professional social media team (like us!). Social media professionals make it easy to navigate the large (sometimes daunting) world that it is our newest, biggest space to promote and play in as advertisers. Get up to speed on how to implement an effective Instagram advertising campaign. Learn more about the perks of advertising on Pinterest, and find the right Facebook target audience before speaking too much of your budget.
Survey the competition!
It is so massively essential to see what your competitors are up to. You never have to use the same tactics, but be aware of how consumers are shopping and enjoying other brands that you’re up against. Remember, customers see furniture as investments. They want to jive with a brand that they can count on for many, if not all, of those purchases. Be their go-to!
It is going to be quite an investment of your own to get business booming, but it will be so worth it when you arrive at the top of the furniture hill! Once you are ready to take steps toward a digital marketing campaign you can really own, get in touch with EM360, the most reliable experts for social media in Detroit. To stay up to date on all marketing and social media trends in your industry, subscribe to our blog.