Not so long ago, the process of buying a mattress was a little longer than it is now. It used to be a trip out to a store, wherein you and whomever the mattress was for would visit a specific retailer and try various products out for size and comfort. Once chosen, then began the enormous task of having to actually transport a sizeable product back home, sometimes without help!
Nowadays, it’s a lot easier. The vast majority of people actually order their mattresses online. They make a judgement depending on reviews, material information and what sort of mattress it is. Then it’s delivered to their house, and voila! Things have never been easier.
Today, we’re going to be sharing our top five tips about running a profitable mattress business in 2020.
1. Know the Current Market and System
Our first top tip when it comes to winning the Mattress Battle, is to know exactly how the current system runs, and the market for selling the product in question.
As we previously stated, people used to prefer to come in store and test their mattress, and customers wouldn’t have dreamt of buying something as big and important as a bed online! Oh, how times have changed.
Therefore, in order to move with the times, businesses have to change with the times — or they’ll be likely to fall by the wayside, and won’t be successful.
It’s all about knowing your market and the system, so do your research on the bed and mattress industry prior to starting your business in order to know where you fit in.
There is without doubt some competition with the larger manufacturers, but figure out where they’re falling short. Sure, they might sell the big brands and generic sizing, but what about customisation? Undercutting on price?
Figure out where the gap is in the current market and system, and be the one to fill it. It’s that simple.
2. Sell for the Right Price
Much like when it comes to selling property, if you’re not advertising products at the right price, then you’re going to fall into some trouble in either making an income or acquiring customers.
The issue with overpricing is that customers will immediately question why it’s so expensive to shop with you. If you’re falling into the same price bracket as the big companies, they’ll think that they might as well go there for peace of mind.
By selling yourself short, of course you run the risk of not making enough money to keep your business up and running. Likewise, are you really going to be able to manufacture good-quality products at such a low price?
Getting the right price is integral to the overall success of a business, regardless of what you’re selling.
3. The Customer Is Always Right
You’ll already have heard the expression, “the customer is always right” before, and in sales that’s absolutely true. Remember that without customers, you are nothing — you quite literally do not have a business — so listening to them should be your upmost priority.
Remember that you should be trying to make your customer’s life as easy as possible, so think outside the box on ways to do that. Provide inexpensive delivery, assigned times and dates and flexibility for delivery, and even offer to carry it to the room it’s going in if need be.
Likewise, listen to feedback! If there’s something wrong with one of the designs, tweak it. If they complained about late delivery, ensure it doesn’t happen again. Take on board all of your customer feedback, and they’ll always feel valued.
4. Market Your Product
Of course it’s not just enough to know the current state of the market and where you fit in. Acting on it is the most important thing.
Without a marketing campaign, a business can’t go anywhere new. You have to know where to market your product and how.
For example, diving into social media is a great marketing strategy because it’s free! There are always forums about better sleep and comfort, etc., so this would be a prime example of a good place to advertise your product and company!
5. Be Knowledgeable on Products
Last of all, be certain to know your product.
People will ask for advice on which mattress is right for them. They may have trouble sleeping, or a bad back. It’s up to you to have the expertise to advise them on which mattress is right for them, and they’ll trust you to no end.
Remember, knowledge is power!
