GOLDEN PATH e Way of Retail - Strategies to a bright future - Golden Technologies
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GOLDEN PATH HME RETAIL RESOURCE
e Way of Retail
Strategies to a bright future
Bundle Selling
Store Layouts
Tracking Metrics
Digital Media
goldentech.com WINTER 2017
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Are you on the right path to retail?
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A MESSAGE FROM THE VP
I GOLDEN PATH
ntroducing the Golden Path
retail journal. The Golden Path
is the industry’s first “retail only” HME RETAIL RESOURCE
journal focusing specifically on the
retail needs of the HME business.
The vision for the Golden Path is to
WINTER 2017
inform, educate and explain retail THE WAY OF RETAIL
principles, ideas and events for HME
retailers. The Golden Path’s name 2 Advantages of Product Bundle Sales
itself refers to the journal’s mission to By Carl S. Lloyd | Reprinted from April 2016
build a retail community among the
HME industry. 4 3 Musts for Achieving Retail Success
The team at Golden is very excited about the future How to gain an edge over the competition
of retail. We are excited for those providers who have By John Smid | Reprinted from June 2016
seen the opportunity with retail and have become serious
about their success as a retailer. Not all providers have 6 4 Keys to Great Customer Service
the “retail mindset” or “retail capacity,” however many By Ed Dziedzic
do. We salute those retailers that have taken that plunge
into this very different world of business, especially when 8 Tracking Metrics Builds Value
compared to doing business as a provider. Retailers have By Mike Scarsella | Reprinted from June 2016
diversified their revenue streams away from third party
pay. They have reorganized their business centering the 10 Digital Marketing the Right Way
customer, or beneficiary, as the most important focus. By Tim Robinson | Reprinted from September 2016
Holiday selling seasons have become an important focus
along with newspaper advertising and customer service 12 Golden Opportunities Calendar
training. Outdoor signage, floor layout, showroom product
and utilization of manufacturers’ representatives now play a 16 The Importance of Effective Collateral
much more important role. Location, location, location….the By Carrie Ernest | Reprinted from October 2016
“Golden Rule” of retail applies and all must abide.
The Golden Path has a mission to be both an informative 18 The Hats of HME Salespeople
and interesting resource journal for retailers and their teams. By Darrell Bradshaw | Reprinted from August 2016
Something to be used to inspire creativity, new methods
and trends all with the hope of helping providers become 20 Change the Way You Think
successful retailers. By Darrell Bradshaw
22 Not Just For TV Anymore!
By Tim Robinson
24 The American Dream
By C.J. Copley
C.J. Copley, MBA, Executive Vice President
Golden Technologies = Originally appeared in HomeCare Magazine
GOLDEN PATH HME RETAIL RESOURCE
e Way of Retail
Strategies to a bright future
Cover photo by: Tim Robinson
Permit granted by: U.S. Department of Interior
Bureau of Land Management
Bundle Selling
Store Layouts
Tracking Metrics
Red Rock/Sloan Canyon Field Office
Red Rock Canyon National Conservation Area
Digital Media
goldentech.com WINTER 2017
GOLDENTECH.COM | 3
MARKETING
HomeCare
APRIL 2016
®
The Leading Business Magazine for HME and Home Health Professionals homecaremag.com
BUILDING ON
YOUR REVENUE
Advantages of
Stack more profit on top of your business foundation
to make 2016 your strongest year yet
PROVIDER
PROFILE, PAGE 30:
I wouldn’t put
anyone in a patient’s
house that I would not
put in my parents’ house.
- LAURIE MALONE
Product Bundle Sales
Reprinted from April 2016
By Carl S. Lloyd
C
ompetitive bidding changes and before deciding on a purchase—and efficiencies, thus reducing marketing
out of control audits along with consumers love choices because they and distribution cost. It allows the
ongoing insurance reductions make them feel in control. consumer to look at one single source
have inspired HME providers to that offers several solutions.
explore other opportunities to help Business Benefits When effective, a product bundling
offset the cost difference. Retail sales Bundling is attractive to consumers strategy can significantly increase
and product bundling play a significant who benefit from a single, value- profits on individual sales over time.
role for the future to enhance both oriented purchase of complementary Selling multiple products in one
profits and company growth. offerings. Bundling helps to increase solution means a greater initial return
What is product bundling?
Product bundling is the combining
of two or more products or services
together, creating differentiation and
greater value, therefore enhancing the
offer to the customer for a basic rate.
Bundling has been researched for
more than 40 years, and it can go by
many names: gifts sets, package deals,
collections. While it does not always
pan out, bundling has been shown
to be a very effective and profitable
marketing strategy under a variety
of circumstances, including so called
“pure-bundling,” in which a group of
products are available only as a bundle
and are not sold separately.
Bundling is based upon the idea
that consumers usually save 7 to 15
percent more on the value of the
grouped package than the individual
items when purchased separately.
Consumers typically compare prices
4 | GOLDENTECH.COM
“ If a customer has multiple needs and your product
bundle addresses most or all of them, this is convenient for
the customer so that they can make one stop instead
of multiple ones.
on the cost of acquiring a customer. businesses sell more items in one Keys to Success
Bundled pricing is a strategy to customer encounter, and can open As with all business strategies, there
help generate a large range of buyers: doors to new products and new will be some trial and error with
buyers looking for deals, buyers looking marketing channels. If the product product bundling. Typically long-
for convenience or buyers looking combination is right, the decision to term benefits and better customer
for advice on items that complement bundle often involves taking these relationships develop if customer
each other. Bundled pricing may be three variables into consideration: convenience and value is your
accompanied by a discount, but it motivation. Your business should
doesn’t have to be. As a seller, you • Volume: Bundling typically carefully analyze revenue and profit
can make your sales efforts more increases unit sales volume. projections for both unbundled
efficient simply by selling more items • Margins: Bundling can lower and bundled options. If bundled
as bundles, and you can ultimately the cost of goods sold, and can solutions generate lower profits with
maximize your sales from each therefore increase your profit no customer advantages, this strategy
customer that you attract. margins. makes little sense. Therefore, it is
Consider a rolling walker—this • Exposure: Bundling may offer new critical to track product bundling
item assists with walking, sitting marketing channel opportunities performance and customer satisfaction
and standing, and it could easily be or exposure to new potential to help ensure that there are long-
bundled with related mobility items customers and referral sources. term benefits.
such as a shower bench, raised toilet All of these factors must be
seat with arms, grab bars, lift chair or Customer Benefits considered in terms of the revenue
even a scooter. Customers often prefer to achieve a opportunity and exposure for potential
In this example, the psychological cluster of satisfactions through one bundle offers. Determine if and how
strategy is to use bundling as a way purchase. People buy products to solve bundling has a place in your store,
to package less popular products with problems or to address specific needs. and develop a marketing plan that
hot-selling items. Although this is If a customer has multiple needs and will increase value for your customers,
sometimes criticized, it still attracts your product bundle addresses most or referral sources and your organization.
a large range of buyers looking for all of them, this is convenient for the Be selective. With the right bundle,
a deal. You can also create long- customer so that they can make one everyone can win.
term opportunities for add-on sales stop instead of many.
when you get multiple products in Additionally, customers often
a customer’s hands. As with most experience economies of scale when
marketing practices, there is no exact buying a bundle of products. If
formula for how to create a bundled they have a need for the individual
package that will succeed in the components in the bundle, they Carl S. Lloyd is the Western
regional vice president for
marketplace, and any formula will typically understand that the total Golden Technologies. For
have several qualities that appear price is lower when the products are more information, visit
goldentech.com.
common to many practices. purchased as a bundle.
This marketing tool can help
GOLDENTECH.COM | 5
3 Musts for
RETAIL SALES
HomeCare
JUNE 2016
The Leading Business Magazine for HME and Home Health Professionals homecaremag.com
THE
Achieving
TECHNOLOGY
ISSUE
CYBER CONNECTED INTEROPERABILITY MHEALTH
Retail Success
SECURITY PATIENT DATA
Retail Strategies & Metrics | 4 Pages of Products | Health Care & the Election
Reprinted from June 2016
How to gain an edge over the competition
THINK MILK
By John Smid AND
D
GREET THE
CUSTOMER
uring the past nine years, the HME industry has
begun to accept the retail concept: It is a tool
that may provide much-needed support in light ADVERTISE
of plummeting reimbursement revenues from CMS and
secondary insurance providers. However, simply providing
items to consumers who are willing to pay cash does not
necessarily make you a retail provider. There are many
categories (such as ADLs, scooters, bath safety, supportive
footwear, pain management, etc.) within the industry that
are beginning to see a rather significant paradigm shift that
experienced retailers are targeting, and this is yielding retail
success.
During my 15 years in the HME industry, I have viewed
my target market as my grandmother—94-years-old with
several medical and age-related challenges. My grandmother
lived through the Great Depression—and although she has
seen many good financial times in her life—by nature, she
1 Advertise. There are many reasons that a retailer
needs to advertise. First and foremost, if you don’t
advertise, you probably will not be in business very long.
is a saver. Within the past three or four years though, I have I often hear business owners say that adverting is a cost
witnessed a significant change in spending patterns within they simply cannot afford during these challenging industry
the HME industry. What does this mean? times; however, I maintain that this is the most important
We have all listened to many industry experts discuss time to advertise.
the baby boomers—the portion of our population born Think of your marketing budget as an investment. We
between 1946 and 1964. The difference between my all have a plan for retirement, right? Advertising is exactly
grandmother—the saver—and the baby boomer generation that—an investment in your future business. Advertising
is that the baby boomers have money—and baby boomers doesn’t just mean discounting products; it should also be
spend money. In fact, 77 percent of all domestic assets are used to introduce new products or even to differentiate
currently controlled by the baby boomer generation. The your business from your competition and to maintain your
baby boomer customer is generally willing to spend a littler reputation in your community among those you serve and
more to get the product they want (and need) to take care of interact with most frequently.
their condition. It is equally important your staff be properly trained in
Let’s dive deeper into the concept of retail by addressing product knowledge in order to maximize your marketing
three retail must-dos. All are equally important to achieving plan. Ask yourself: Do they understand the product’s
success. features, and more importantly, do they understand the
6 | GOLDENTECH.COM
product’s benefits? Can they show the common? They are all thriving in with the products you select to put on
appropriate value to the consumer? their categories. the retail floor, plays a huge part in the
Manufacturers who are focused on It sounds simple, but perhaps it’s success or failure of your profitability
helping retailers grow their retail so simple that we often forget how as a retailer. I find the most simplistic
businesses should be willing to take simple it is to put into practice. “Good way to identify the correct products
the time to train your staff. This retail Morning, welcome to ABC Medical. in every category is this—if my own
education is ultimately insurance for My name is John, and I’m here mother or father needed a product in
your marketing investment. to take care of you.” Demonstrate this category, what would I choose for
that you know your store and your them?
2 Greet the customer. I
don’t know what it is specifically
about the HME industry, but this is
products; you have the experience
with various diagnoses and needs and
be your patient’s guide. As Golden
As the HME expert, you know why
one product is better than another—
maybe the features will provide
one area where most providers can Technology’s southeast regional vice additional benefits, so your choice is
stand to improve. Too often, the first president, Darrell Bradshaw, explains, Product X. However, the consumer
person a customer sees upon entering typically DME consumers, “Simply does not have the information and
an HME store is an individual who don’t know what they don’t know.” expertise you have, so they may believe
is elbow-deep in discharge papers, Your customers may have an idea of they should choose Product Y, simply
or someone who is focused on their what they want, but they often don’t because it costs less money or is better
computer performing daily tasks. My know what they need. reimbursed by their insurance. It is
position allows me to visit 15 to 20 Your customers have enough your responsibility as a retailer to
retailers each week—and on average, challenges in their daily lives, and share your product knowledge with
less than 20 percent of the HME stores you have a huge opportunity to help your customer so they will be better
I visit take this most critical step of them with their challenges. A simple informed to make the best purchase—
greeting the customer seriously. greeting is totally in your control, and just as you would make for an aging
The old adage is, “You have seven it absolutely sets the stage for the rest loved one.
feet and seven seconds,” to greet the of the visit! Manufacturers hear so often that
customer, and to do so properly. If you another supplier can provide a similar
do not think this is important, let’s
simply look outside the HME industry
for some examples.
3 Think milk and eggs
(move frequently
shopped items to the
product for at a lower cost. Be cautious
of this. Retail success is often based on
one simple value equation. A sale will
Look at Cabela’s and Bass Pro back of the store). Everyone never take place unless the value meets
Shops. Both retailers rotate their knows this philosophy—right? A or exceeds the price. The lower the
staff so there is always a minimum grocer does not exactly make tons of price, the lower the value—and most
of two employees up front who make money on milk and eggs, but chances importantly to you the as a retailer, the
a point greet customers before they are, a consumer is in the grocery store lower the gross margin dollars. Train
get through the turnstile and enter looking for milk and eggs. A good your staff to understand this, and if
the store. Consider the restaurants retailer will direct their customers you truly sell value over price, you will
Outback Steakhouse and Applebee’s— through products that generate higher watch your metrics soar.
the employees almost always open margins than milk and eggs, often
the door for you and they welcome with incentives to at least stop and take
you when you enter. Even the world’s a look.
largest retailer, Walmart, has a friendly New items are best introduced in John Smid is the Midwest
regional vice president of
employee stationed at the front of these high traffic areas. As HME Golden Technologies, Inc.
each store, armed with those famous retailers, it is important to ask, For more information, visit
goldentech.com.
words, “Welcome to Walmart!” What “What are my milk and eggs?” The
do each of these businesses have in importance of store layout, coupled
GOLDENTECH.COM | 7
CUSTOMER SERVICE
4 Keys to Great
Customer Service
By Ed Dziedzic
F
or the better part of my 63 the best customer service that we can? right.” Basically, keeping in mind that
years, I have been involved in Below, are four points to take into at all times we must continue doing the
Customer Service in one aspect consideration when interacting with right thing.
or another. I have been fortunate that customers: Looking at the big picture also
the companies and places I have worked means working with a customer and
emphasized taking care of the customer. #1. DO THE RIGHT THING. making allowances for something that
I can remember as a boy pumping Whatever that may be, we are to do you may not do on a routine or daily
gas, the owner would tell me, “Always the right thing. It may mean replacing basis. For example, you may allow a
say thank you.” One boss told us to a part or a product. It may mean product return as a favor in a show of
“Treat the customer as if they were your giving a credit or a couple of freebies, good faith, demonstrating a willingness
mother,” and another boss instructed us if the situation seems appropriate. It to work with your customer in building
to “Do the right thing.” may be spending an extra few minutes a solid relationship. The result for this
This article is not meant to give to ensure that the customer is educated type of effort builds trust, and is seen
tips such as to smile when you answer and confident in their purchase. And with increased business.
a call, or to say the person’s name sometimes, it may be saying “no.”
three times during a conversation, or Whatever the situation calls for, do the #3. WE ARE ALL CUSTOMERS!
anything like that. Those are certainly right thing. Let’s remember that. Whether we are
good tips, but for this segment we want dining out at a restaurant or making
to take a look at our mindset when we #2. LOOK AT THE BIG PICTURE. a purchase, we are all customers. Ask
are working with our customers. This means that when we address the yourself: “How do I want to be treated
Consider this familiar adage: immediate issue we take into account by those in customer service roles?”
“The Customer is always right.” what the results or ramifications will and show respect accordingly.
Is this true or false? be. How will this affect our business
By the intent of the statement, it is in the long run, or even tomorrow? In #4. REFER TO #1.
true. The customer should receive the this day of social media, we want to be It may not be the easiest answer, but it
product or service they have requested sensitive to not only what is said, but will be the correct one.
and paid for, and they should be how quickly we say it. While we don’t
shown the utmost respect. roll over every time someone mentions
But in essence, is the customer “legal stuff” or Facebook, we need Ed Dziedzic is the director of
customer support services,
always correct, say in their demands? to be cognizant of how we are being Golden Technologies, Inc.
The answer is no. So how do we portrayed to the public. In addition, For more information, visit
goldentech.com.
handle those particular situations, and when mistakes happen we want to be
how do we ensure that we are giving known as a company that “makes it
8 | GOLDENTECH.COM
The Path to Success
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goldentech.com on Golden DayDreamer PR630 and Golden Pub Chair PR712.
RETAIL SALES
HomeCare
JUNE 2016
Tracking Metrics
The Leading Business Magazine for HME and Home Health Professionals homecaremag.com
THE
TECHNOLOGY
ISSUE
Builds Value
CYBER CONNECTED INTEROPERABILITY MHEALTH
SECURITY PATIENT DATA
Retail Strategies & Metrics | 4 Pages of Products | Health Care & the Election
Reprinted from June 2016
Reviewing performance should be a top priority to
effectively improve your bottom line
By Mike Scarsella
I
am a golfer. I started playing when I was four years old, on stats I gathered from each round I played, showing
and it has been my primary hobby ever since. My father me my putting performance, how many greens I hit in
taught me at a very young age that the path to being a regulation, how many fairways I hit off the tee and a few
good player is practice. I spent countless hours on the driving hundred other metrics I kept track of in my little notebook.
range pounding ball after ball until my hands hurt. After a The results were a consistent improvement in my game
few weeks of this dedicated work, my game had not improved. and a much more efficient and enjoyable practice routine.
In fact, it had gotten worse. That is when my father told The concept of specific measurement and analysis to target
me that it’s not about how much you practice, but how you improvement is not rocket science. It follows logic that is
practice. Each practice session needed a goal, a purpose, easy to understand but may prove difficult to apply on a
something to accomplish. These goals were based on what regular basis. In other words, it is much easier to walk out
areas of my game needed improvement. to the range and just start hitting golf balls.
Determining the areas in which to improve were based The same holds true for business—retail businesses
10 | GOLDENTECH.COM“ In addition to knowing your cost, you must also know your
competition inside and out.
especially. There are many things a the Internet side of the industry and Average Ticket—This is
retailer needs to accomplish each day honestly evaluate how you measure a measurement of how much each
just to keep the doors open. Finding up. customer spends in your store on
time to review performance metrics After calculating cost and average. Obviously, you want this
has a tendency to fall to the bottom of determining your competition, you number to be as high as possible
the priority list (or off it completely). need to nail down the baseline for your and on the rise. This metric brings a
But to effectively improve your company’s performance. You do not focus on bundle selling, higher value
business—and ultimately your bottom know how to get where you want to go products, custom options, accessories
line—it should be priority No. 1. if you do not know where you are right and special added services your
Before you can effectively measure now. Once you establish the baseline, company provides.
and improve your retail business, you you can then work toward specific Traffic Flow—Keeping track
have to have a strong hold on two key goals and benchmarks of success. So, of how many customers walk through
areas—cost structure and competition. what should you measure? There are your door each day is vital. It allows
Understanding the true cost associated dozens of retail metrics to choose from, you to note trends and seasonality,
with the retail side of your business is and each retailer needs to determine leading to more efficient staffing
vital to ensuring long-term profitability. the ones that work best for his or and scheduling. It provides a basis
This cost goes far beyond just her business. That being said, here to measure the success of specific
acquisition cost and includes overhead, are a few that I believe should be on marketing programs. It also sits as
burdened wages, delivery, service, everyone’s list. the basis on metrics such as close
maintenance, marketing and inventory Gross Margin—This is the rates, cost per customer and cost per
costs. It requires a regular and detailed most important metric of all. Nothing transaction.
profit and loss review that clearly else matters without a competitive, As I mentioned above, there are
separates your retail business from profitable gross margin. Use your dozens of retail metrics you can
your third-party paying business. recently gathered understanding of employ. The point is to actually
In addition to knowing your cost, your cost and competition to set the employ them. Retail is all about
you must also know your competition right gross margin for each product in value—offering value to your
inside and out. This means knowing your retail store. customers and building value for
not just competing companies, but Dollars Per Square your company. Retail metrics allow
competing products as well. It means Foot—Each inch of your retail space you to make the right decisions to
knowing not just the selling price of is incredibly valuable. This metric continually build this value. They
the guy down the street, but also the illuminates change the discussion from “What
additional services he offers. This also what products are making the most of does this cost me?” to “What does this
means knowing how each of your the space they are taking up. Dollars earn for me?”—which leads to happier
products stacks up against Internet per foot quickly highlights your rock customers and a healthier bottom line.
retailers. Knowing your competition stars and your underperformers,
allows you to make specific decisions allowing you to change up your
about what your value chain will look product mix to maximize sell-through. Mike Scarsella is the northeast
regional vice president at
like to best position your store in the Measuring this number will also Golden Technologies, Inc.
For more information, visit
broad retail market space. Shop your get you focused on display and help goldentech.com.
competition, learn about competitive you use your space as effectively as
products you do not carry, explore possible.
GOLDENTECH.COM | 11DIGITAL MEDIA
Digital Marketing
the Right Way
Reprinted from September 2016
By Tim Robinson
D
igital media is all the rage. when you have time, but even then, to Facebook is not a good use of your
Facebook is part of our daily you have not seen any meaningful time. You need to define what you
lives. Sixteen years worth of results. want to accomplish with your efforts.
videos are uploaded to YouTube daily. No matter what camp you’re in, Time is money, so you should not be
Live-streaming social media apps are chances are you’re struggling to find wasting time posting to any digital
changing the way we see the world. And your footing in this digital age. platform if you don’t have a goal in
while HME suppliers will not likely be If your digital marketing efforts are mind.
behind the next hit mobile app, there struggling it’s most likely because of Pro tip: Start with one platform
are plenty of ways you can use digital two big reasons: 1. You are not patient. (Facebook, for example) and build up your
media to create content that should be and 2. You are not consistent. following. Don’t do Facebook, Twitter and a
blog all at once—or they will all suffer.
“ No matter what camp you’re in,
chances are you’re struggling to find
MAKE A CALENDAR
Facebook, Twitter and blogs thrive
when they are fed consistently and on
your footing in this digital age. schedule. Chart out what content you
are going to post and when. Don’t
worry about repeating yourself, as
used in your marketing plans, a process Your efforts are not failing because long as it is on a different day, at a
often referred to as content marketing. of the quality of your content; in fact, different time, with a slightly different
If you have tried creating content, I believe there is no such thing as worded message.
chances are you fall into one of two bad content. It is how you use your
camps: content, present it and what you want STOP HARD SELLING
Camp Digital: You believe you to get out of it that matters. Here are If you post a photo of a product you
can apply some, if not all, of these a few things you can do to get yourself sell, name the price, and the features
digital tools to help grow your business on track to success with your digital and benefits, then you just totally
and sales. You believe there is a direct marketing efforts. missed the point of social media. You
benefit to your bottom line, but you need to provide something of value to
sometimes cannot put your finger on it. MAKE A PLAN anyone following your page. Stories are
Camp Analog: You do not You would not start a business without what move people.
think any of these tools will have a a business plan. Likewise, you should Once you have picked a platform
meaningful impact on your bottom not jump into digital media without you want to focus on, you have to
line. You do some digital marketing one. Posting randomly without reason speak the language of that platform.
12 | GOLDENTECH.COMIllustration: Camp Analog v. Camp Digital by Embla Ester
SOCIAL MEDIA PLATFORMS in some cases, information about a digital media-marketing tool available.
TRANSLATED product you sell. Add a “Subscribe for Email Coupons
Facebook: Post no more than twice Pro tip: If you tweet @someone on and Updates” link anywhere you can.
a day. Facebook wants its content to Twitter, add a period before .@ so that An email distribution service such as
generate likes, comments, and shares. everyone who follows you will see the tweet. If Mail Chimp can be free or low-cost
If it is not “social,” this platform will you don’t, only you and the person you tweeted for a small business, and allow you to
bury you, even if you pay money to will see it. reach subscribers who may not take
to boost a post. The best thing you Blogs: Blogs come in a variety of part in social media with news and
can do is share photos and stories styles and formats, and are moving store specials.
of satisfied customers (with their into stand-alone content marketing
approval), exciting stories about your pages that provide value to a select BE PATIENT
employees getting promoted or their audience. All social media and content
kids’ graduations and your store’s Begin posting once a month and marketing takes time. If you post
social gatherings. Also promote events build up from there. Set up posts to something worth sharing, often and
in your community. go up at the same time every month, on-schedule, then your efforts will
Pro tip: Videos get more exposure on for example the first Tuesday, at noon. pay off in time. Just pace yourself,
Facebook. Facebook Live video streaming Promote the blog post on Facebook start somewhere small and build
is also highlighted more often to all of your and Twitter, and post at a few different your following.
followers. times during the week to capture
Twitter: You can post as many different audiences. After a while, you
times as you want in a day on Twitter, will have a reservoir of content you
because the stream is always changing. can recycle and promote content again Tim Edwin Robinson is the
director of digital media at
Twitter is all about listening. Try a tool at a later date. Golden Technologies, Inc.
such as Hootsuite, and set up keyword For more information, visit
goldentech.com.
searches. Respond directly to people CAPTURE EMAIL ADDRESSES
and offer them help, services and, At this time, email is the most valuable
GOLDENTECH.COM | 132017 Promotional Schedule
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TRADE SHOW Medtrade Spring Medtrade Spring
WEBINARS Content Marketing 101 TV Advertising 101 Facebook Advertising 101
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to be automatically invited to
each of our 12 webinars!
APRIL MAY JUNE
HOLIDAY SELLING SEASON Spring is Coming Mother’s Day Father’s Day
PRODUCT SHOWCASE
All States All States All States
Scooters / Lift Chairs Scooters / Lift Chairs Scooters / Lift Chairs
ADVERTISING FOCUS Gift of a Lift Gifts for Mom Gifts for Dad
CHANGE POP Mother’s Day Mother’s Day Father’s Day
CHECK LC / SCOOTER INVENTORY Father’s Day PO’s Summer PO’s Closeout PO’s
TECH SERVICE TRAINING Phoenix, AZ North Carolina
TRADE SHOW VGM Heartland Conference
WEBINARS E-Mail Marketing 101 Online Contests Online Customer
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to be automatically invited to
each of our 12 webinars!
14 | GOLDENTECH.COMGolden Technologies, Inc. offers MORE than great lift chairs and scooters. We are your partner for success!
Follow these Golden Opportunities to maximize promotions and motivate your staff for each season.
GOLDEN
OPPORTUNITIES JULY AUGUST SEPT
HOLIDAY SELLING SEASON Independence Day Summer Sizzel Falling Prices
PRODUCT SHOWCASE
All States All States All States
Scooters / Lift Chairs Scooters / Lift Chairs Scooters / Lift Chairs
ADVERTISING FOCUS Gifts of Independence Gifts of Summer Gifts of Comfort
CHANGE POP Summer Sale Fall
CHECK LC / SCOOTER INVENTORY Closeout PO’s Falls PO’s Closeout PO’s
TECH SERVICE TRAINING Akron, OH Costa Mesa, CA
Getting Found Online Advanced Advanced
WEBINARS Facebook Advertising E-Mail Marketing
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to be automatically invited to
each of our 12 webinars!
OCTOBER NOVEMBER DECEMBER
HOLIDAY SELLING SEASON Spooky Deals Thanksgiving Savings Christmas Specials
PRODUCT SHOWCASE
All States All States All States
Scooters / Lift Chairs Scooters / Lift Chairs Scooters / Lift Chairs
ADVERTISING FOCUS Gift of Mobility Gift of Mobility Gift of Mobility
CHANGE POP Halloween Holidays Holidays
CHECK LC / SCOOTER INVENTORY Medtrade PO’s Holiday PO’s Holidays
TECH SERVICE TRAINING Kansas City, MO Maryland
TRADE SHOW Medtrade Fall
Advanced Advanced Advanced
WEBINARS Social Media Marketing Video Marketing Content Marketing
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GOLDENTECH.COM | 15Grow, Evolve, Adapt.
A changing industry landscape requires
a dynamic retail solution.
All successful businesses need to be fluid – evolving and changing as market forces shift and
technologies advance. HME businesses are no exception, especially now.
With over 50 years of combined HME, health care and traditional retail experience, VGM Retail has
developed programs and services to assist and encourage VGM members to grow, evolve and adapt to this
new industry landscape. Whether you’re just beginning to explore a cash business model, a large portion
of your revenue is already coming from cash, or you’re somewhere in between, VGM Retail’s consulting
programs can help you adjust and conquer this new retail world.
Our programs include:
Strategic Business Assessments
An on-site analysis of the desired market’s condition and viability for retail operations and long-term execution of the
fundamentals of retail health care. This service is available for both existing locations and those looking to open a new location.
Consulting Services
Every member situation is a bit unique, and occasionally a member needs only one or two of our services to reach a certain
goal or finish a specific project. Services include:
Financial Analysis and Projection
Marketing and Advertising
Store Experience and Design
Product Sourcing and Merchandising
Operations and Training
Management Services Contracts
Our Management Services offering creates an ongoing partnership to support primarily in the areas of product sourcing and
analysis, day-to-day operational expertise and marketing support to drive traffic to your retail locations. The goal is to provide
you with consistent, knowledgeable support in the areas of your retail business where you may be too busy or under-staffed
to gain and deliver expertise and outcomes to grow and maintain the business.
The Health & Wellness Store Model
VGM Retail’s Health & Wellness Store concept is a complete store package that provides all the tools and resources needed
to open and manage a cash-only “health and wellness lifestyle” retail store. With this all-cash model, a provider will be able to
give their customers exactly what they need immediately without having to deal with third party billing and reimbursement.
It is a quick and simple way to start or expand into retail, either as a stand-alone entity or infused with their existing business.
CONNECT WITH US!
Twitter: @VGMRetail | Blog: blog.vgmretailservices.comRETAIL SCIENCE ROADSHOW
Are you considering adding retail to your current operations? Are you adding a new location to your
HME fleet. Our new Roadshows will assist you in determining success in your market.
To reflect the changes and needs of the industry, we’ve upgraded and expanded our Retail Science
Roadshows for 2017. Every event we host will be customized around the viability and potential for
retail operations in that specific region through a detailed market analysis of the area and examples
of real retail success.
NEW FOR 2017 – Retail Customer Service Training Seminars
Twenty-first century retail is all about the customer experience. In a health care-focused world, making a positive
impression becomes even more important. With the changing landscape of the health care industry, incremental sales
are now an essential part of the consumer health care experience. But, how do you make sure the customer is satisfied
with their in-store interactions and have the products they need to become or stay healthy, while also capitalizing on
the financial opportunity for you?
Our day-long, hands-on customer service training seminars are designed to teach front-line employees and senior leaders
the sales process, techniques to suggest and sell add-on products through caretailing best practices, and implement an
incremental sales program.
All event dates and locations will be announced in January 2017.
Stay tuned to www.vgmretailservices.com/roadshow
and our VGM Retail blog for updates!The Importance
MARKETING
of Effective
Collateral
Its top priority is to help increase sales
Reprinted from October 2016
By Carrie Ernest
S
eeing well-made signs or banners especially true in the HME industry, about the products you sell. If you
that highlight certain products because potential customers do not have a customer who comes into your
we can relate to often take us to typically window shop for a lift chair, store for a walker, chances are good
that “feel-good place.” An attractive walker or compression socks. that this customer may also need a
model photographed in a flattering This is where your creative lift chair one day soon. I understand
outfit can help us imagine ourselves marketing strategy comes into play. that not even a top marketing or
in the same outfit. Add a sale price— Have a greeter at your front door. This sales guru may be able to help a
say 50 percent off—to an item you person should not only be cheerful, customer see the importance of a lift
already want, and the store has the deal but should also be knowledgeable chair today while he’s shopping for
practically made.
Developing a marketing strategy is
not just about the perfect model on the
perfect store sign (promotion), or the Live a Golden Life
with MaxiComfort®
perfect dress (product), or the store that
is located on the perfect corner with
huge glass windows to allow potential
customers to see all of the hustle and
bustle inside (place) or even the perfect
Improve Circulation Enjoy the Pressure Relief Watch TV with Ease Stand Effortlessly
of Zero-gravity
price. All of these factors must come
together cohesively and must be well
thought out to get consumer traffic
through the door. We all know that Golden Scooters Golden Lift Chairs
SUPERIOR DESIGNS | FIRST CLASS LUXURY
FALL 2016
AMERICA’S #1 SELLING BRAND
WINTER 2017
Golden Power Wheelchairs
HIGHLY DEPENDABLE WITH MAXIMUM MANEUVERABILITY,
SUPERIOR STABILITY AND GREATEST FUNCTIONALITY
increased foot traffic equals increased
sales, but without a strategy—and
without all of the critical components
needed to drive increased foot traffic—
you will have an empty store, no CO
ED
matter how great your products are.
M
ZI
FO
TOM
RT
CUS
by Go
lde
If no one knows what you sell—or,
n
more importantly, why they should
Our American made power lift
recliners come in a variety of shapes
and sizes for the perfect fit. Our
premium fabrics match nearly every
purchase those items—you will
décor, and our patented technologies
give you the most comfortable
powered lift and recline experience.
likely not have more than a handful
of customers in your store. This is
16 | GOLDENTECH.COM“ Collateral may take on various forms, but the most important
role of collateral is to be effective at increasing sales.
a walker, but if you have the correct
collateral—banners, posters, ad slicks,
sell sheets, brochures, bag inserts (for
your customer to review when he
gets home) and perhaps a lift chair
sale promotion going on throughout
the store—your customer may just
get home and remember the product
images he saw on the banners with the
sales promotion message the next time
he struggles to stand up from his old
recliner.
Defining Collateral
Collateral, by definition, is a collection
of media tools or advertisements
used to support the sale of a product.
Collateral may take on various
forms, but the most important role
of collateral is to be effective at
increasing sales. In other words,
creating collateral that appears
outdated, or that fails to accurately
describe the features and benefits of
your products, would be ineffective.
But when your collateral is tied
together with a cohesive concept or
theme, you will increase foot traffic
and sales will soar. that will educate the consumer about collateral—that he can customize his
Start by defining your audience your products. Create sell sheets that lift chair, you will have a satisfied
and creating marketing tools that give the technical details, too, so all customer for life.
will speak directly to them. Use customers will know the measurements
appropriate color schemes with lifestyle of the lift chair and can figure out Carrie Ernest is the marketing
manager at Golden
images so your customer can really which chair will best fit their homes Technologies, Inc.
For more information,
picture himself in a brand new lift and lifestyles. visit goldentech.com.
chair. Make sure your brochures define Once you have shown your
the details—the features and benefits customer—through the use of effective
GOLDENTECH.COM | 17SALES
The Hats of HME
Salespeople Reprinted from August 2016
Change the way you think about the process, and selling can be enjoyable and rewarding.
By Darrell Bradshaw
M
any people think that
selling is difficult,
frustrating, scary or even
tiresome to master. The art of selling
is none of these things, but it can be
if we allow our negative emotions or
stereotypes to be at the forefront of our
interactions with patients or customers.
The truth is, selling can absolutely be
easy, fun, enjoyable and rewarding. All
you have to do is change the way you
think about the process, and you will
have a new perspective on customer
interactions. I have been in many home
medical equipment stores (HMEs) and
observed the sales process, and I have
talked to many HME salespeople about
how they sell. The verdict is that most
salespeople in the medical world are
better than they realize, and this article
may help you to see that not only are
you good, but you are also providing
a huge and necessary service to your
customers.
To really understand this—and to
get that better perspective—let’s take a manipulation. On the other side of Put on Your
1
look at a few basics. the spectrum, some people believe Educator Hat
First, what is sales? Some people that selling is just waiting around for In an HME store,
have the mistaken idea that making a customer to independently select a a salesperson is not
the sale is about aggressively pushing product to bring to the register and just a salesperson. An
a customer into making a purchase pay. That is just being lazy. In reality, HME salesperson, often wears many
while making as much money as true selling (like so many other things hats. The first hat that an HME
possible. That is not selling—that is in life), is somewhere in the middle. salesperson needs to wear is that of an
18 | GOLDENTECH.COM“ Every good salesperson has their heart in their work.
educator. When a customer comes into true if you educate them on all of the bit of reassurance. And, yes, it helps
an HME store, they most often need products they might need. you to make the sale. Every good
education about the products they will salesperson has their heart in their
be using. This is really what sales is all Put on Your work. This is another reason I say
2
about. An HME sale is always more Encourager Hat that HME salespeople are some of the
about educating the customer than The second hat that best.
it is about anything else. With HME an HME salesperson
products, the patient needs more wears is that of a Put on Your
3
education than for nearly any other counselor and encourager. The word Assistant Hat
type of purchase. It is necessary for an encourage simply means to “instill The third hat is the
HME salesperson to be able to teach courage” in another person, and it hat of an assistant.
and instruct the customer in the use is absolutely necessary to have this When a product is
of the products they sale. They should as part of your sales process. Many selected, it is not just enough to
be able to do this well, and they must times an HME customer needs a educate or encourage. It is imperative
also know how to use each product little encouragement, and not just as to assist by demonstrating and serving.
Assisting is not just educating—it
involves hands-on training.
“ Most
Many of you may be thinking, “I
salespeople in the medical world already do all of these things.” Plenty
of the HME salespeople I see are very
are better than they realize. good and just don’t know it. But, don’t
rest. Keep honing the skills of wearing
the above-mentioned three hats. One
properly in order to do so. Beyond it relates to a product or a service great step to take is to constantly
this, an HME salesperson should you offer. If a customer is in your evaluate yourself on each sale. Ask
also know the related products that store, they are most likely facing a yourself: Which hats did I wear?
could help improve the quality of life medical difficulty. It can be very Did I help in each area of educator,
for the customer they are educating. disheartening and even depressing to encourager and assistant? Only you
For example, if a customer comes in have several ailments and to feel lost can really answer that, and only you
to purchase a lift chair, do you also in how to get the help that’s needed can honestly see how each area could
explain the need for a raised toilet to continue being as active as possible. be a little better on the next sale.
seat and grab bars for the bathroom? By truly encouraging the customer
The patient needs to be able to stand on a personal level, you will build a
in every room, and they will not have relationship, help with their needs and Darrell Bradshaw is the
Southeast regional vice
the lift chair in the bathroom. As an allow them to feel positive emotions president at Golden
HME salesperson, you have the ability during a potentially mundane errand. Technologies, Inc. For
more information, visit
to add quality to the life of your This small gesture will mean the goldentech.com.
customers, but that is only going to be world to someone seeking that extra
GOLDENTECH.COM | 19MARKETING
Not Just For TV
Anymore!
By Tim Robinson
W
e certainly don’t have station or local cable network you want up are pretty unlikely.
to sell you on the power to advertise on, and they will put you
of television or radio. in touch with a sales rep who can give Cable TV
However, most people believe it’s too you all the rates you could imagine. You can find the best bang for your
expensive or too difficult to advertise on They can work with any budget. buck in broadcasting by advertising
TV. But, a commercial doesn’t just have They’ll even give you a schedule through your cable provider. You can
to be only on TV anymore. Through (called a “traffic” report) of when insert your commercial during any
the power of social media you can share your commercial is expected to run. cable program. The same rates go for
and promote your commercial on your When you’re happy with that, all you local TV. Off-peak hours are available
own. Finally, your own showroom have to do is give them your TV spot for only a few dollars (we’ve seen
can host a feature presentation of your download link, your money (of course!) rates as low as $12 a play), but you
commercial on a loop for all your and you’ve made an ad buy! If you absolutely cannot beat the audience of
customers to see. want, Golden can also connect you a major college sporting event that is
directly with the station(s) you plan to important to your local area. Again,
Getting a TV Spot air on and we will deliver HD quality since you know your area best, call
Golden offers our dealers free custom spots directly to them online. the cable company that serves your
TV spot tagging. That’s right, FREE! You can advertise on local TV for community and ask to speak with a
If you’re a Golden customer all you as little as $30 and up, depending on sales representative. What’s amazing
have to do is fill out a form at http:// the size of your “market” (based on about cable is you can localize down
www.GoldenTech.com/TV/ and population and coverage area). While to your immediate local community to
upload your store logo. We will send prime time or “peak hour,” time-slots maximize your impact.
you back a download link. It’s really cost more, the exposure may definitely
that easy! be worth it. For most DME suppliers, Online Video Advertising
So, once you get your high quality you can’t beat the value of advertising Embrace the power and reach of
TV commercial, what do you do on daytime TV shows such as “The social media by uploading your TV
with it? Price is Right.” The local news is commercial online. There’s two major
also a sure bet for targeting adults places you should upload your TV
Advertise on Local Broadcast TV aged 50 and over. While you can save spot online: Facebook and YouTube.
You don’t need your own “Mad Men” some money playing your commercial Facebook allows you to promote your
advertising team, because chances are during off-peak hours, the chances of TV commercial from your business
that you would best know the market someone seeing your commercial at Facebook page. When you update your
that you live in and what TV stations night when your business is closed, and status just click “upload video.” Once
people love to watch. So, call the TV then calling you the next day to follow you post, you can then click the blue
20 | GOLDENTECH.COMbutton on the bottom to “boost post” immediate attention when they walk lift chairs. They are easy to update
and put money behind your post as in your store. Providing initial product anytime with a flash drive whenever
an online advertisement with many information is a great way to really Golden releases a new product video,
customizable controls to reach people draw in the attention of your customers which are automatically sent to dealers
that live in your community and while they begin to browse. who have registered their players.
haven’t liked your Facebook page (yet!).
You can also upload your commercial Media Players Touchscreen Desktop / iPad
to YouTube which allows you to Golden offers a turn-key HD media Video Players
embed it on your website for free. Even player kit ($59.95 available at www. Another great resource is having a
if it doesn’t ever play on television, you GoldenTech.com/OrderPlayer/) to desktop computer with an interactive
can still gain notoriety by having your make it easy for you to set up one or touch screen or mobile device, like
custom tagged commercial embedded more TVs in your store as a digital an iPad, which is ready to show your
on your website. billboard. Dealers who have ordered customers the same product videos that
and started using the Golden Digital we have listed on YouTube for you to
In-Store Media Player have already seen an watch at anytime. You can have your
You can also use your free custom TV impact on sales! sales team bring them to a customer
spots from Golden as a product loop in Mark Gawel, Owner of Access ONE to show them more information on the
your own DME store. It works well to by MSG in Fort Wayne, Indiana, said, product their interested in, even if you
remind customers just why they came “I’ve watched our customers become don’t carry it in store.
in to visit you in the first place, and so interested while sitting in a Golden So don’t think a “TV Spot” is just
it can be a useful tool in listing out Lift Chair!” Mark adds, “Actually, for TV anymore!
(on screen) many of the benefits that they are so well educated and aware of
the Golden products could have. It’s the product by the time a sales person
great to be able to remind customers tends to our customer, a sale has
about the features and benefits in a already been generated!” Tim Edwin Robinson is the
director of digital media at
medium that is visually compelling. It’s Some dealers have quickly learned Golden Technologies, Inc.
also very helpful when, for instance, you may need more than just one! For more information, visit
goldentech.com.
you are talking with another customer Some are placing one by Golden
and you can’t give every customer scooters and another by Golden
GOLDENTECH.COM | 21CASE STUDY
Team Up with Golden
for Growth
By Veena Choudary
O
ur Golden story began when Our Regional Vice President, Mike profit items and set up the new display.
we, as the new management Scarsella, used his extensive furniture Golden teamwork was evident when
for Apex Pharmacy, knowledge and background to identify reps and VPs who were not even from
Homecare and Nutrition Center, the best area on the sales floor for the our region contributed both ideas
contacted the company Golden for chairs, and in training both the staff and solutions to help us grow: Todd
advice regarding our lift chair display. and management team who were now Godek, Mike Zeman and John Smid
We weren’t expecting an entire team able to better appreciate the true value to name a few. We were elated when
of Golden representatives to come in in promoting lift chair sales. the Regional VP, Darrell Bradshaw,
to help! Our area Sales Representative Starting with a modest five chair from the Southeast showed us how to
Tom Corey designed a display for our display that is now up to twelve, Tom use Golden’s flagship selling center to
retail floor recommending the best and Mike together pulled out tools properly educate our customers on the
models for our geographic location. to help us remove fixtures with lower various Golden lift chairs, accessories,
22 | GOLDENTECH.COMYou can also read
