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9 Key Strategies To Growing Your Hardware Business
9 Key Strategies To Growing Your Hardware Business
Hardware Business
RetailTrading
Last updated Oct 11, 2019
Photo credit: Gem
Building your hardware supply business can be an intimidating thing to do especially if you are
unfamiliar with the trade. But perhaps an opportunity to establish one is very obvious that you
don’t want to pass up this chance.
A hardware supply store is expected to cater to the various needs of customers. Whether they’re
building a house, decorating it during renovation work, or simply addressing the inevitable wear and
tear of home or office, a trip to a hardware store is like going to a pharmacy, looking for relief of a
particular sickness. Blown fuse, busted light bulb, or broken pipe? You got nowhere else to go but
the friendly hardware store in the neighborhood.
There is little to no point at engaging in a war of attrition on price. The public will benefit the low
prices, but it could be costly to the bottom line of both of your businesses.
But this should not stop you from expanding your hardware dealership business online. Set up a
website and display your product line/brochure for easy access on mobile phones without having to
visit the store. Allow visitors to inquire about stock availability and take orders they can pick up at
the store or delivered at their homes.
Having this presence also aids in inventory and customer relationship purposes. You know which
products they purchased so you know what items to secure next time they ask for the same model. It
also allows you to upsell similar, more profitable products.
Not only you’ll provide listing of products, provide tips on things that relate to your products. For
example, you can write a blog post on decoration tips, how to save money on utility costs, and why
you’ll recommend a product you currently sell. Make every effort to solve your current and future
customers’ problems and make use of your online presence to do so.
Don’t forget social media presence where you can showcase individual items on Pinterest and attract
an audience from this platform. Make your Facebook and Twitter profiles active in engaging
customers who may ask questions, offer suggestions, or even rant about the quality of the products
you sell. Doing so makes your business so accessible that customers will begin to trust it more.
Even when customers don’t buy from your shop, your advice and tips regarding construction-related
topics will be valued highly. This value extends to your thought on relevant areas such as say, energy
savings, product evaluation, and others. The important thing is that in whatever capacity you have,
there is that willingness to offer assistance to your customers. At this juncture, customers may be
better known as partners.
During the rainy season, hand shovels and cleaning agents afterward could be in demand.
Doing so also builds a bond between your hardware business and your community. Folks will
remember what you did, and they’ll remember your store. Going the extra mile in your hardware
business might be the edge you’ll have against the competition.
Conclusion
Building your hardware business requires more than an exploration of the market, such as learning
what your customers want, and keeping a look at your competition. Extending beyond what you do is
equally important. Building a good relationship with your community and reaching out to a broader
spectrum of customer segments sustains the business and earns you a steady stream of loyal
customers, er, partners.