Hey y’all! Anyone who knows me over the years knows…. I LOVE THE HOLIDAYS!!!! So I’m back again this year to talk about Black Friday and how it’s going to affect your business. I’m also sharing my Black Friday predictions as well as which stores will be open on Thanksgiving this year. There’s less than 50 days to Black Friday, so let’s get ready to kick off a slew of sales!
We take pride in our marketing efforts here at Data Age and in turn often get the opportunity to answer our customers' questions about marketing and promotions. Shop owners often want to know how they can go about marketing their business online. We've put together a starter's guide to Social Media Marketing to help you get a leg up when promoting your business online.
These days almost everyone is shopping online, or at the very least doing online research before making a purchase. eCommerce is becoming a part of our national fabric, and retailers need to be ready to roll with the changes. Now you may say, "Wait, I'm not a retailer. I'm in the pawn business." But think about it—I'm sure that you've noticed a shift in the amount of items you're selling in your shop.
According to IBISWorld Reports, 55% of all pawn shop revenue in 2017 was generated from merchandise sales. We've been following the eCommerce trend for years at PawnMaster/Data Age, so this statistic doesn't surprise us. We want our customers to be able to extend their reach as far as possible, and our e-foro integrated listing tool gives them this ability. e-foro is a powerful tool on its own, but you need to have an understanding on how to best prepare your listings for each marketplace in order to maximize your earning potential.
You can start small. Look into buying some keywords related to payday loans, cash advances, cash loans, collateral loans, pawn loans, etc. You can target these to people searching for those terms within a geographic radius of your location. On the retail side, you can also target terms that are related to items you’re trying to sell. Some people searching for items may not think to check their local pawn shop. The great thing about AdWords is you can set a daily budget, so you can spend as much or as little as you want – you can start small and increase later. The system manages your budget for you, so you never go over.
As a pawn broker, you know better than anyone that time is money. You may have a dedicated budget for marketing. Or you may have a website that was created two or three years ago that hasn’t been updated since it was uploaded to the web. Perhaps your niece posts something to Facebook a few times a year for you. No matter how little or how much effort you put into marketing your shop, you probably would like to know how that effort is affecting your business.
- Post photos of your products. Even if the people following you aren’t looking for a specific item, they may know someone who is. Be sure to include some information in the comment section such as size, price, etc.