Ideally, you would aim for 25% of revenue allocated to each category, with profit serving as a signal metric for the other categories.
By examining these categories, you can identify areas of opportunity for improvement. For example, if CAC is 25% or less, it indicates a positive performance in customer acquisition costs. If variable costs exceed 50%, it signifies a potential area for optimization.
Minimize COGS: Explore ways to reduce the cost of manufacturing or sourcing your products without compromising quality. This can involve negotiating better pricing with suppliers, streamlining production processes, or finding more cost-effective materials.
Optimize CAC: Continuously analyze your advertising and furniture marketing efforts to improve efficiency and effectiveness. Identify the most profitable channels and campaigns, refine your targeting strategies, optimize your ad spend, and focus on acquiring high-quality customers with a substantial lifetime value (LTV).
Control OPEX: Regularly review your fixed and operating expenses to identify areas where you can reduce or optimize spending. Look for opportunities to renegotiate contracts, explore cost-saving measures for utilities or rent, and streamline your operations to eliminate unnecessary expenses.
First and foremost, it may not have been the flashiest or most glamorous exploration of furniture marketing strategies, but it aimed to provide a practical and down-to-earth perspective. By addressing the often-overlooked aspects of furniture marketing, we aimed to offer a realistic view of the challenges and opportunities that lie ahead.
Secondly, the guide aimed to provide you with tangible, actionable, and step-by-step guidance to help you regain stability and find your footing in the ever-evolving world of furniture marketing. The intention was to offer proven strategies that can be easily implemented, ensuring that you feel supported and equipped to navigate the marketing landscape.
Every journey is unique, and there's no one-size-fits-all solution. The key is to be adaptable and willing to experiment with different approaches.
Zolak helps furniture retailers create engaging 3D showrooms on their websites. These showrooms offer customers an effortless way to explore and visualize furniture products. Customers have the option to select from a variety of pre-made virtual showrooms or create their own using their phone camera.
Customer room digitization: Zolak allows the scanning of customers' spaces and transforms them into virtual rooms. Users can replace, move, rotate, delete furniture items, and configure objects within the interior, providing a personalized and immersive experience.
Accuracy and detail: By incorporating physical properties such as room and object sizes, foreground and background elements, lighting, and shadows, Zolak creates virtual rooms with exceptional accuracy and detail.
Speed and photorealism: Zolak leverages 2D and 3D technologies to deliver a fast and seamless showroom experience on the web. Despite its speed, Zolak maintains photorealism and attention to detail, providing customers with an immersive and visually appealing shopping experience. Moreover, not having to recreate everything in 3D allows retailers to focus their efforts on showcasing their products.
Cross-platform compatibility: Zolak easily integrates websites or mobile applications through its web widget and mobile SDK. This cross-platform support enables retailers to implement Zolak quickly and efficiently, even within tight timelines, expanding their reach and providing a consistent experience across multiple platforms.
Reach out to us today! Our experts are ready to guide you through the process, from understanding the possibilities to implementing these solutions easily into your website.
Digital marketing can feel a bit like a buffet that has way too many options. Do you hit the salad station or the crab legs first? How long has that fried chicken been sitting under those warmer lamps? The pasta looks great, but is it the best bang for your buck?
The sheer number of options for digital marketing ideas can be overwhelming. Plus, some marketing tactics work better for certain industries, some require significant time or money investments, and none of them guarantee a great ROI for your business. Where are you supposed to start?
Furniture retail is kind of a funny industry right now. For as long as people have been buying furniture from retailers, they’ve gone to showrooms to see pieces firsthand, test them out, and physically feel their materials before dropping a lot of money on large pieces of furniture that were considered investments.
Today, more and more people live more minimally, foregoing those large, expensive, investment furniture pieces for smaller, multi-functional pieces that they view as more disposable as they move from place to place more frequently than previous generations did. And that means that more and more furniture purchases are shifting to the internet, where customers buy based on digital marketing rather than visiting a showroom and trying out pieces firsthand.
Furniture retailers who aren’t taking advantage of the ecommerce boom in their industry are likely to get left behind. If you’re not sure how to begin marketing furniture products for online sales, these 29 techniques are your buffet. Read on to learn about each marketing idea (and how it fits into your overall marketing strategy) so you can decide if it’ll be the right dish to fit your furniture marketing meal.
Furniture Store PromotionAdvertising in places where a ton of people will see your ads seems like a good strategy, but it often doesn’t actually help bring in new customers. What’s more effective is defining the type of customer you want to attract, and then advertising with sources where that target customer is likely to look. This is a particularly useful strategy of you sell a certain, specific type of furniture; for example, rustic wood furniture is likely to appeal to people who own cabins and farms, and so you might target that niche with your ads.
Lead magnets are offers that entice shoppers to come to your store over your competition. A lead magnet can be a coupon, a free item, and exclusive item with a limited number available, or a downloadable catalog. These kinds of offers add value, and can be powerful sales boosters with the added perk of driving new customers to your site to take advantage of the offers.
Paid search allows you to promote your brand with text ads on search engine results pages. This can help bring in new customers by targeting keywords they may be searching. Say your brand places a paid search ad that promotes your site when shoppers search for “brown couch.” This allows you to capture customers early in their buying journey.
Research shows that shoppers abandon $1.5 million worth of products in online shopping carts every day. With display retargeting, you can show ads to customers on other sites featuring items they’ve left in their shopping carts on your site. You can also show them ads for items they’ve viewed but didn’t ever ad to their carts.
Paid ads on social media can help you reach targeted audiences by setting parameters about the demographics who will see the ad, or by showing social media ads for products shoppers have viewed before, reminding them of purchases they considered.
A common way for ecommerce retailers to promote their products and websites is through links on third-party sites. This helps them reach a broader number of customers. Plus, one of the biggest perks to using affiliate marketing is that you only have to pay when a customer uses an affiliate code to make a purchase, meaning this marketing strategy can come with a very high ROI. Some of the most common third-party affiliate sites for furniture sellers and other retailers include RetailMeNot, Ebates, SlickDeals, and FatWallet.
Building customer loyalty should be a big part of any retailer’s marketing strategy—studies have found that 65 percent of a company’s business comes from existing customers, not new ones. If you want to increase your customers’ loyalty and bring back repeat shoppers, these are the tactics to try.
Building customer loyalty should be a big part of any retailer’s marketing strategy—studies have found that 65 percent of a company’s business comes from existing customers, not new ones. If you want to increase your customers’ loyalty and bring back repeat shoppers, these are the tactics to try.
When customers make an online purchase, it’s a perfect and easy time to collect their email address to use for future marketing purposes. Once you have an email list built up, you can use it for all kinds of campaigns, from promotions to discounts to email-only specials.
Customers are likely to be loyal to brands when they’re getting something out of the deal. A traditional loyalty program might be tough to pull off for a furniture retailer, since most shoppers don’t make frequent furniture purchases. That doesn’t mean you can’t offer perks, like discounts or free items, to return shoppers.
Another option is to offer rewards, like cash back or discounts, to customers who refer others to your store—this brings you new customers and increases the loyalty of the existing ones. Win-win.
Furniture can be expensive. Not every potential customer has the cash to drop all at once on a major piece like a sofa or a big-screen TV. That’s why you can seriously increase loyalty if you offer simple financing options that will make these major purchases easier for the customer. Payment plans that remain interest-free for the first few months are popular, and give the customer a financial break while also incentivizing them to pay for their purchases quickly.
When it comes to building customer loyalty, nothing beats good, old fashioned customer service. Customers have high expectations of brands, so when providing service, you should seek not just to meet their expectations, but to exceed them. Delight your customers with service that goes above and beyond, and they’ll return to your store over and over.
One of the best ways brands can invest in themselves in the internet age is by investing in content. Here are some of the ways furniture brands can leverage great content into a great marketing strategy.
Think about this: You’re an ecommerce retailer, so your customers find, explore, and buy your products on your website. It’s not an area where you should be skimping.
Invest in a high-quality website that’s designed by a professional, with a stable ecommerce platform, great images, and comprehensive product information so your customers know exactly what they’re getting when they make a purchase. For this, having Product Information Management (We) software in place is essential—it’ll keep all that product information organized and up-to-date, and ready to push to your website and any other channels where you market and sell furniture.
Let your satisfied customers help create the content that will market your brand. One great example: Run a contest encouraging customers to submit their best personal stories connected to a piece of furniture they bought from your store. Those stories will tug at the heartstrings of potential new customers, and social proof is a powerful driver for more purchases.