Steven Sinatra is a second-generation pawnbroker who, along with his father, runs World Pawn Exchange in North Bend, Oregon, where he is GIA jewelry professional and managing partner. As someone who grew up during the technology boom of the mid-90s, Steven has a unique understanding of how to best reach his customers through the platforms that they use every day. He approached PawnMaster to write a guest blog on the topic, and we were happy to take him up on his offer.
Data Age Business Systems, the developers of PawnMaster, the industry leading pawn shop management software, are excited to announce a landmark eCommerce occasion. Using the integrated eCommerce listing tool e4o, PawnMaster users have sold over twenty-five million dollars’ worth of merchandise since e4o’s inception in 2016.
Text messaging – We all do it, multiple times a day, every day. There’s a reason text messaging is the number one form of mobile communication in the world. It’s fast, it’s easy, everyone does it. In fact, over 26 billion texts are sent each day in America alone. But that’s just the tip of the iceberg.
For over 30 years, PawnMaster has been known for our world class service in every aspect pertaining to supplying the collateral loan and buy/sell industry with state-of-the-art software. Whenever we roll out a new program, service, or support model, we do so with only one focus; Our customers. When we build cutting edge software, we don’t build to accentuate fluff. We build features into our products to put our customers in the best possible position for success, and to give them a true competitive advantage in their markets.
Here's something I learned early on in my sales career—first impressions matter! If there's one thing to always be mindful of, it’s to pay attention on how you're coming across to the people that you're communicating with. It's even more important when you're communicating with them for the first time!
When it comes to running a successful pawn business, one of the most important skills for a broker to have is the ability to qualify their customers. Qualifying your customers is like vetting a new hire; you need to see if it's going to be a good fit.
I've been in the pawn business for over 20 years and you better believe that I've seen my fair share of unhappy clients. The first time you're faced with an upset customer, it's a lot to take in. Even the most experienced brokers will have their hands full when it comes to a really disgruntled customer who thinks they're in the right. Throughout my history in this business, I've learned a few ways to diffuse a situation and help both the customer and shop owner come out feeling satisfied, reassured, and respected.
Every day we hear stories about vendors not helping their clients, not calling them back, and a host of other very frustrating and disappointing things, all of which are negatively impacting peoples' businesses. The Data Age/PawnMaster brand, company, and suite of products have been known for being world-class for the past thirty years. We always sit back and analyze how to improve. I recall an event held at the Ritz Carlton a few years back. I was walking to my meeting and in the hallway I saw three Ritz Carlton employees on their knees highly focused on removing a small piece of gum from the carpet. At first I said for the amount of money a room cost I would expect this but the establishment provided great value in so many areas. They don’t need to roll out three people to get a tiny piece of gum that cannot be seen removed. This is their strategy to customer service excellence and overall user experience. Let me be clear, customer support is a strategy that many miss the mark on in a big way.
For a busy pawnshop, the speed at the counter directly translates to dollars earned. Customers expect to walk in with an item of value and walk out with cash in the absolute minimum amount of time. The faster the shop can write loans, take payments and make sales, the more customers they will be able to serve per day.
Lately, it seems like pawn software companies have been putting hurdles in place to slow you and your employees down when writing a loan only to benefit themselves. They make you enter information for items that isn’t needed. You have to describe every item as if it is expected to default and be posted to an online auction.