The “WOOD 100 Strategies for Success 2014″ has come out with a number of quotes from the top woodworking companies in North America. In it they talk about a number of marketing initiatives that these successful companies have implemented, or are planning to implement in the near future.
We’ve highlighted some of our favourites:
1. Barbosa Cabinets Inc.- The residential, multi-family and commercial cabinet and countertop maker attributes its 44.9% sales growth to diversification. “We diversified into other cabinet and countertop markets as well as expanded our area of influence,” says President Ed Barbosa. With new frameless-related equipment enhancing production, 2014 sales also look bright.
Diversification– Offering a diverse range of products means you’re able to satisfy more customers, in more industries. This can be especially important during economic turbulence or cyclical buying cycles. Having a wider product portfolio means you’re able to survive any dips you may have in any one product. However this is not to say that you should become a jack of all trades. You must still provide an excellent product, and still do so economically.
Look for synergies in your products. Where can you increase the number of products you supply with a large number of interchangeable parts? One of the reasons MultiCam has become so successful over the years was our product diversification. Offering routers, plasmas, and waterjets all with synergistic systems, has allowed us to compete in a variety of markets, but without the added overhead of additional components.
2. Premium Woods LLC.- Communication between customers, vendors and staff has been key to obtaining and retaining business, says Bob Long, president of the laminate and wood casework firm. “Implementing systems that create uniformity,” he adds, also “increase customer satisfaction and a better work environment.” Sales grew 18.4% in 2013 and look to be even better in 2014 with key purchases including a Giben edgebander and Gannomat drilling/insertion machine.
Communication– Everyone knows that communication is the key to success in every relationship. But it’s amazing to know that so many companies don’t truly put this into action. Communication needs to be clear at all levels, from the customers to the front-line staff, all the way to the manufacturers. Being in constant communication internally means that everyone is on the same page and working towards the same goal. External communication means that your customers know exactly what’s happening with their products. Meeting (and hopefully exceeding) a customer’s expectations starts and ends with good communication. Ultimately you’ll develop close relationships that way.
3. Bellmont Cabinet Co.– Formerly known as Pacific Crest Industries, Bellmont Cabinet markets its eco-sensitive manufacturing processes and social responsibility to customers. Its efforts were a success, with 2013 recording a jump of 75.0%, says Tyler Bell, vice president of sales & marketing at the custom cabinet firm.
Going Green– Show off the fact that you’re going green or that you offer green alternatives! Eco-purchasing is on the rise, both for B2C and B2B customers. Adding an eco option to your product line is a great way to attract those consumers who are more environmentally sensitive. You’re also able to possibly attract businesses who have mandated that they need to source from environmental vendors. Having green operations makes your company more desirable, and helps reduce wastes, both helping your bottom line.