Ed's AV Handbook.com
Home Theater & High Fidelity Stereo Audio

Chapter Ten
AV Business & Marketing

Page 5

Batting practice for the audio/video pro and a primer for the novice 

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Using the charts
he following illustrates the use of the chart prescriptions.  
For this example
assume the following chart results:  
            Promotion = Downward    
            Leads = Flat  
            Presentations = Flat  
            Sales = Upward  
            Batting Average = Upward  
            $/Close = Skyward

Sales are upward because $/Close is skyward and Batting Average is upward.
Therefore continue to do what works, and do more of that.  
Do more of what makes your $/Close and Batting Average succeed.  
Do not make any drastic changes.

$/Close are skyward due to an increase in closing custom projects.  
Therefore keep doing what you are doing.  Continue to close custom projects.  
Do not change anything with regards to $/Close.

Batting Average is upward due to the addition of in-store sales training
and sending key employees to manufacture training seminars.
Therefore do more of each.  But do not make any drastic changes.

Leads are flat.
Leads from direct mail promotions to previous customers have been very effective.  
YELP and local magazine advertising leads have not been productive.  

do more of what works and eliminate what doesn't.
Focus on prompt responses to all customer phone messages and requests.
Eliminate YELP and magazine advertising.

Presentations are flat.
Appointments with previous customers and their referrals have increased.  
Off the street floor traffic presentations have decreased but still yield a small percentage of qualified leads. Yelp and local magazine leads have not led to qualified leads.  

do more of what works and eliminate what doesn't.
Focus on presentations to previous customers and their referrals.  

Do not avoid off the street leads. But be aware of their less productive condition.

Eliminate Yelp and magazine leads.

Promotion is downward.
Therefore re-evaluate the tactical areas of promotion.
It’s time to change tactics. 
    -  Your sales staff as illustrated by their batting average and $ per close is productive.
        Keep Them.
    -  Direct mail advertising to current customers has been successful.  Do More.
    -  Yelp and magazine advertising has not produced.  Eliminate them.
    -  Custom sales are rising.  Therefore promote custom products and services with the
         addition of
in-store seminars.
     - Current POP consists of old manufacturer posters.  
        Replace old POP with new POP that promotes custom projec
     -  You have not run any in-store promotional events in some time.  
         Therefore add in-store seminars to promote custom products.

Summary of the prescriptions and the revised game plan:
This is the plan for the next stat period.  Add it to your to-do-list. 
  1. Focus on custom projects.
  2. Continue in-store sales training.
  3. Send more staff to manufacturer's training seminars.
  4. Concentrate on previous customers and their referrals.
  5. Respond quickly to service requests and inquiries from previous customers.
  6. Continue the direct mail advertising campaign to previous customers.
  7. Add in-store seminars promoting custom product.
  8. Produce new POP to reflect your custom installation services and product.
  9. Eliminate Yelp & magazine advertising.  
Assess adjust recap          
          The Stat Dashboard, the P&L, and Balance Sheet are powerful tools that put you control.  They reduce stress caused by a lack of informed knowledge.  However,
as the ability to play a musical instrument, hit a 90 MPH fastball, create a world-class speaker, they require disciplined application.

Business & Marketing
          In a nutshell, fulfill the desires of your customers.  And sell more than you spend.  
Your marketing strategy will guide the business as its tactics to put it on the road.
ssess the results via the macro financial data and its underlying micro supporting stats.
Then use the prescribed adjustments to keep it on a profitable path.

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Ed's AV Handbook.com
Batting Practice for the AV Pro and a Primer for the Novice.
Copyright 2007 Txu1-598-288   Revised 2018