Study history and don’t repeat it
Why would you want to develop the Vinyl fence catagory?
Vinyl has potential brand recognition. This maintenance free fencing system allows for viable channels of distribution for the fence dealer (DIY, Specification, Wholesale). It has high degree of customer satisfaction and when installed properly has very few callbacks. Vinyl offers a style and color for every possible need. Research also shows that vinyl plays a role in raising the bar of credibility and perception of the fencing industry in a marketplace.
The 6 Steps to Dominate
1. Owner / Manager makes decision that they want to be the company that wins the race to dominate the market.
2. Secure brand exclusivity from your manufacturer, or create your own.
3. Define your “why” and clearly communicate it to your sales team. Train and motivate them.
4. Position the price for opening price point white privacy fence within 20% of your standard wood privacy (great opportunity to increase profit for wood)…..explain to installers that it will get easier with experience
5. Mandate that it is promoted on every sales call — with enthusiasm!!
6. Get consumer testimonial on video along with job photos and post on social media. Boost the good ones!
Learn from history and win
Every fence product that has ever been introduced relies on the market development LEADER. This is the fence company that made the commitment to change the landscape by going on offense. Play special attention to #2 — you don’t want to build the market then yield it to your reactive competitors. You can always trace the leader but is he the winner in the long run? The difference will be how he brands and navigates the available sales channels.
If you decide to make this journey, use history as your guide and make sure that you do everything you can to prevent it from becoming a commodity by building value throughout the process.
Where is my proof that this will work? Salt Lake City, Long Island, Tampa, South Jersey, Boston, Orlando, and St Louis.
For those of you in developed markets — focus on building your brand and highlight your competitive advantages and re-commit to win. Chances are the leader has given up.
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Thank you for your support. I hope my insights help you grow your business.