golden path “retail mindset” or “retail capacity,” however ... keys to success as with all...

Bundle SellingStore LayoutsTracking MetricsDigital Media

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e Way of RetailStrategies to a bright future

H M E R E T A I L R E S O U R C E

GOLDEN PATH

WINTER 2017

Comfort Comes from Custom TailoringSmall to Tall, We Build Them All

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Introducing the Golden Path retail journal. The Golden Path is the industry’s first “retail only”

journal focusing specifically on the retail needs of the HME business. The vision for the Golden Path is to inform, educate and explain retail principles, ideas and events for HME retailers. The Golden Path’s name itself refers to the journal’s mission to build a retail community among the HME industry.

The team at Golden is very excited about the future of retail. We are excited for those providers who have seen the opportunity with retail and have become serious about their success as a retailer. Not all providers have the “retail mindset” or “retail capacity,” however many do. We salute those retailers that have taken that plunge into this very different world of business, especially when compared to doing business as a provider. Retailers have diversified their revenue streams away from third party pay. They have reorganized their business centering the customer, or beneficiary, as the most important focus. Holiday selling seasons have become an important focus along with newspaper advertising and customer service training. Outdoor signage, floor layout, showroom product and utilization of manufacturers’ representatives now play a much more important role. Location, location, location….the “Golden Rule” of retail applies and all must abide.

The Golden Path has a mission to be both an informative and interesting resource journal for retailers and their teams. Something to be used to inspire creativity, new methods and trends all with the hope of helping providers become successful retailers.

A MESSAGE FROM THE VP

C.J. Copley, MBA, Executive Vice President Golden Technologies

2 Advantages of Product Bundle Sales By Carl S. Lloyd | Reprinted from April 2016

4 3 Musts for Achieving Retail Success How to gain an edge over the competition

By John Smid | Reprinted from June 2016

6 4 Keys to Great Customer Service By Ed Dziedzic

8 Tracking Metrics Builds Value By Mike Scarsella | Reprinted from June 2016

10 Digital Marketing the Right Way By Tim Robinson | Reprinted from September 2016

12 Golden Opportunities Calendar

16 The Importance of Effective Collateral By Carrie Ernest | Reprinted from October 2016

18 The Hats of HME Salespeople By Darrell Bradshaw | Reprinted from August 2016

20 Change the Way You Think By Darrell Bradshaw

22 Not Just For TV Anymore! By Tim Robinson

24 The American Dream By C.J. Copley

= Originally appeared in HomeCare Magazine

WINTER 2017THE WAY OF RETAIL

GOLDEN PATHHME RETAIL RESOURCE

Cover photo by: Tim Robinson Permit granted by: U.S. Department of Interior Bureau of Land Management Red Rock/Sloan Canyon Field Office Red Rock Canyon National Conservation Area

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H M E R E T A I L R E S O U R C E

GOLDEN PATH

WINTER 2017

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MARKETING

Competitive bidding changes and out of control audits along with ongoing insurance reductions

have inspired HME providers to explore other opportunities to help offset the cost difference. Retail sales and product bundling play a significant role for the future to enhance both profits and company growth.

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

before deciding on a purchase—and consumers love choices because they make them feel in control.

Business BenefitsBundling is attractive to consumers who benefit from a single, value-oriented purchase of complementary offerings. Bundling helps to increase

efficiencies, thus reducing marketing and distribution cost. It allows the consumer to look at one single source that offers several solutions.

When effective, a product bundling strategy can significantly increase profits on individual sales over time. Selling multiple products in one solution means a greater initial return

Advantages of Product Bundle SalesBy Carl S. Lloyd

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

BUILDING ON YOUR REVENUEStack more profit on top of your business foundation to make 2016 your strongest year yet

The Leading Business Magazine for HME and Home Health Professionals homecaremag.com

HomeCareAPRIL 2016

®

Reprinted from April 2016

5 GOLDENTECH.COM |

on the cost of acquiring a customer. Bundled pricing is a strategy to

help generate a large range of buyers: buyers looking for deals, buyers looking for convenience or buyers looking for advice on items that complement each other. Bundled pricing may be accompanied by a discount, but it doesn’t have to be. As a seller, you can make your sales efforts more efficient simply by selling more items as bundles, and you can ultimately maximize your sales from each customer that you attract.

Consider a rolling walker—this item assists with walking, sitting and standing, and it could easily be bundled with related mobility items such as a shower bench, raised toilet seat with arms, grab bars, lift chair or even a scooter.

In this example, the psychological strategy is to use bundling as a way to package less popular products with hot-selling items. Although this is sometimes criticized, it still attracts a large range of buyers looking for a deal. You can also create long-term opportunities for add-on sales when you get multiple products in a customer’s hands. As with most marketing practices, there is no exact formula for how to create a bundled package that will succeed in the marketplace, and any formula will have several qualities that appear common to many practices.

This marketing tool can help

businesses sell more items in one customer encounter, and can open doors to new products and new marketing channels. If the product combination is right, the decision to bundle often involves taking these three variables into consideration:

• Volume: Bundling typically increases unit sales volume.

• Margins: Bundling can lower the cost of goods sold, and can therefore increase your profit margins.

• Exposure: Bundling may offer new marketing channel opportunities or exposure to new potential customers and referral sources.

Customer BenefitsCustomers often prefer to achieve a cluster of satisfactions through one purchase. People buy products to solve problems or to address specific needs. 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 many.

Additionally, customers often experience economies of scale when buying a bundle of products. If they have a need for the individual components in the bundle, they typically understand that the total price is lower when the products are purchased as a bundle.

Keys to SuccessAs with all business strategies, there will be some trial and error with product bundling. Typically long-term benefits and better customer relationships develop if customer convenience and value is your motivation. Your business should carefully analyze revenue and profit projections for both unbundled and bundled options. If bundled solutions generate lower profits with no customer advantages, this strategy makes little sense. Therefore, it is critical to track product bundling performance and customer satisfaction to help ensure that there are long- term benefits.

All of these factors must be considered in terms of the revenue opportunity and exposure for potential bundle offers. Determine if and how bundling has a place in your store, and develop a marketing plan that will increase value for your customers, referral sources and your organization.

Be selective. With the right bundle, everyone can win.

Carl S. Lloyd is the Western regional vice president for Golden Technologies. For more information, visit 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.

“

6 | GOLDENTECH.COM

RETAIL SALES

3 Musts forAchievingRetail SuccessHow to gain an edge over the competition

By John Smid

ADVERTISE

GREET THE CUSTOMER

THINK MILK AND

During 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

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 is a saver. Within the past three or four years though, I have witnessed a significant change in spending patterns within the HME industry. What does this mean?

We have all listened to many industry experts discuss the baby boomers—the portion of our population born between 1946 and 1964. The difference between my grandmother—the saver—and the baby boomer generation is that the baby boomers have money—and baby boomers spend money. In fact, 77 percent of all domestic assets are currently controlled by the baby boomer generation. The baby boomer customer is generally willing to spend a littler more to get the product they want (and need) to take care of their condition.

Let’s dive deeper into the concept of retail by addressing three retail must-dos. All are equally important to achieving success.

1Advertise. 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. I often hear business owners say that adverting is a cost they simply cannot afford during these challenging industry times; however, I maintain that this is the most important time to advertise.

Think of your marketing budget as an investment. We all have a plan for retirement, right? Advertising is exactly that—an investment in your future business. Advertising doesn’t just mean discounting products; it should also be used to introduce new products or even to differentiate your business from your competition and to maintain your reputation in your community among those you serve and interact with most frequently.

It is equally important your staff be properly trained in product knowledge in order to maximize your marketing plan. Ask yourself: Do they understand the product’s features, and more importantly, do they understand the

Retail Strategies & Metrics | 4 Pages of Products | Health Care & the Election

THE TECHNOLOGY ISSUE

CYBER SECURITY

INTEROPERABILITYCONNECTEDPATIENT DATA

MHEALTH

Th e Leading Business Magazine for HME and Home Health Professionals homecaremag.com

HomeCareJUNE 2016

Reprinted from June 2016

7 GOLDENTECH.COM |

product’s benefits? Can they show the appropriate value to the consumer? Manufacturers who are focused on helping retailers grow their retail businesses should be willing to take the time to train your staff. This retail education is ultimately insurance for your marketing investment.

2Greet the customer. I don’t know what it is specifically

about the HME industry, but this is one area where most providers can stand to improve. Too often, the first person a customer sees upon entering an HME store is an individual who is elbow-deep in discharge papers, or someone who is focused on their computer performing daily tasks. My position allows me to visit 15 to 20 retailers each week—and on average, less than 20 percent of the HME stores I visit take this most critical step of greeting the customer seriously.

The old adage is, “You have seven feet and seven seconds,” to greet the customer, and to do so properly. If you do not think this is important, let’s simply look outside the HME industry for some examples.

Look at Cabela’s and Bass Pro Shops. Both retailers rotate their staff so there is always a minimum of two employees up front who make a point greet customers before they get through the turnstile and enter the store. Consider the restaurants Outback Steakhouse and Applebee’s—the employees almost always open the door for you and they welcome you when you enter. Even the world’s largest retailer, Walmart, has a friendly employee stationed at the front of each store, armed with those famous words, “Welcome to Walmart!” What do each of these businesses have in

common? They are all thriving in their categories.

It sounds simple, but perhaps it’s so simple that we often forget how simple it is to put into practice. “Good Morning, welcome to ABC Medical. My name is John, and I’m here to take care of you.” Demonstrate that you know your store and your products; you have the experience with various diagnoses and needs and be your patient’s guide. As Golden Technology’s southeast regional vice president, Darrell Bradshaw, explains, typically DME consumers, “Simply don’t know what they don’t know.” Your customers may have an idea of what they want, but they often don’t know what they need.

Your customers have enough challenges in their daily lives, and you have a huge opportunity to help them with their challenges. A simple greeting is totally in your control, and it absolutely sets the stage for the rest of the visit!

3Think milk and eggs (move frequently

shopped items to the back of the store). Everyone knows this philosophy—right? A grocer does not exactly make tons of money on milk and eggs, but chances are, a consumer is in the grocery store looking for milk and eggs. A good retailer will direct their customers through products that generate higher margins than milk and eggs, often with incentives to at least stop and take a look.

New items are best introduced in these high traffic areas. As HME retailers, it is important to ask, “What are my milk and eggs?” The importance of store layout, coupled

with the products you select to put on the retail floor, plays a huge part in the success or failure of your profitability as a retailer. I find the most simplistic way to identify the correct products in every category is this—if my own mother or father needed a product in this category, what would I choose for them?

As the HME expert, you know why one product is better than another—maybe the features will provide additional benefits, so your choice is Product X. However, the consumer does not have the information and expertise you have, so they may believe they should choose Product Y, simply because it costs less money or is better reimbursed by their insurance. It is your responsibility as a retailer to share your product knowledge with your customer so they will be better informed to make the best purchase—just as you would make for an aging loved one.

Manufacturers hear so often that another supplier can provide a similar product for at a lower cost. Be cautious of this. Retail success is often based on one simple value equation. A sale will never take place unless the value meets or exceeds the price. The lower the price, the lower the value—and most importantly to you the as a retailer, the lower the gross margin dollars. Train your staff to understand this, and if you truly sell value over price, you will watch your metrics soar.

John Smid is the Midwest regional vice president of Golden Technologies, Inc. For more information, visit goldentech.com.

8 | GOLDENTECH.COM

CUSTOMER SERVICE

For the better part of my 63 years, I have been involved in Customer Service in one aspect

or another. I have been fortunate that the companies and places I have worked emphasized taking care of the customer. I can remember as a boy pumping gas, the owner would tell me, “Always say thank you.” One boss told us to “Treat the customer as if they were your mother,” and another boss instructed us to “Do the right thing.”

This article is not meant to give tips such as to smile when you answer a call, or to say the person’s name three times during a conversation, or anything like that. Those are certainly good tips, but for this segment we want to take a look at our mindset when we are working with our customers.

Consider this familiar adage:“The Customer is always right.”Is this true or false?By the intent of the statement, it is

true. The customer should receive the product or service they have requested and paid for, and they should be shown the utmost respect.

But in essence, is the customer always correct, say in their demands? The answer is no. So how do we handle those particular situations, and how do we ensure that we are giving

the best customer service that we can?Below, are four points to take into

consideration when interacting with customers:

#1. DO THE RIGHT THING.Whatever that may be, we are to do the right thing. It may mean replacing a part or a product. It may mean giving a credit or a couple of freebies, if the situation seems appropriate. It may be spending an extra few minutes to ensure that the customer is educated and confident in their purchase. And sometimes, it may be saying “no.” Whatever the situation calls for, do the right thing.

#2. LOOK AT THE BIG PICTURE.This means that when we address the immediate issue we take into account what the results or ramifications will be. How will this affect our business in the long run, or even tomorrow? In this day of social media, we want to be sensitive to not only what is said, but how quickly we say it. While we don’t roll over every time someone mentions “legal stuff” or Facebook, we need to be cognizant of how we are being portrayed to the public. In addition, when mistakes happen we want to be known as a company that “makes it

right.” Basically, keeping in mind that at all times we must continue doing the right thing.

Looking at the big picture also means working with a customer and making allowances for something that you may not do on a routine or daily basis. For example, you may allow a product return as a favor in a show of good faith, demonstrating a willingness to work with your customer in building a solid relationship. The result for this type of effort builds trust, and is seen with increased business.

#3. WE ARE ALL CUSTOMERS!Let’s remember that. Whether we are dining out at a restaurant or making a purchase, we are all customers. Ask yourself: “How do I want to be treated by those in customer service roles?” and show respect accordingly.

#4. REFER TO #1.It may not be the easiest answer, but it will be the correct one.

4 Keys to Great Customer ServiceBy Ed Dziedzic

Ed Dziedzic is the director of customer support services, Golden Technologies, Inc.For more information, visit goldentech.com.

9 GOLDENTECH.COM |

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RETAIL SALES

Tracking Metrics Builds ValueReviewing 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, and it has been my primary hobby ever since. My father taught me at a very young age that the path to being a

good player is practice. I spent countless hours on the driving range pounding ball after ball until my hands hurt. After a few weeks of this dedicated work, my game had not improved. In fact, it had gotten worse. That is when my father told me that it’s not about how much you practice, but how you practice. Each practice session needed a goal, a purpose, something to accomplish. These goals were based on what areas of my game needed improvement.

Determining the areas in which to improve were based

on stats I gathered from each round I played, showing me my putting performance, how many greens I hit in regulation, how many fairways I hit off the tee and a few hundred other metrics I kept track of in my little notebook. The results were a consistent improvement in my game and a much more efficient and enjoyable practice routine. The concept of specific measurement and analysis to target improvement is not rocket science. It follows logic that is easy to understand but may prove difficult to apply on a regular basis. In other words, it is much easier to walk out to the range and just start hitting golf balls.

The same holds true for business—retail businesses

Retail Strategies & Metrics | 4 Pages of Products | Health Care & the Election

THE TECHNOLOGY ISSUE

CYBER SECURITY

INTEROPERABILITYCONNECTEDPATIENT DATA

MHEALTH

Th e Leading Business Magazine for HME and Home Health Professionals homecaremag.com

HomeCareJUNE 2016

Reprinted from June 2016

11 GOLDENTECH.COM |

especially. There are many things a retailer needs to accomplish each day just to keep the doors open. Finding time to review performance metrics has a tendency to fall to the bottom of the priority list (or off it completely). But to effectively improve your business—and ultimately your bottom line—it should be priority No. 1.

Before you can effectively measure and improve your retail business, you have to have a strong hold on two key areas—cost structure and competition. Understanding the true cost associated with the retail side of your business is vital to ensuring long-term profitability. This cost goes far beyond just acquisition cost and includes overhead, burdened wages, delivery, service, maintenance, marketing and inventory costs. It requires a regular and detailed profit and loss review that clearly separates your retail business from your third-party paying business.

In addition to knowing your cost, you must also know your competition inside and out. This means knowing not just competing companies, but competing products as well. It means knowing not just the selling price of the guy down the street, but also the additional services he offers. This also means knowing how each of your products stacks up against Internet retailers. Knowing your competition allows you to make specific decisions about what your value chain will look like to best position your store in the broad retail market space. Shop your competition, learn about competitive products you do not carry, explore

the Internet side of the industry and honestly evaluate how you measure up.

After calculating cost and determining your competition, you need to nail down the baseline for your company’s performance. You do not know how to get where you want to go if you do not know where you are right now. Once you establish the baseline, you can then work toward specific goals and benchmarks of success. So, what should you measure? There are dozens of retail metrics to choose from, and each retailer needs to determine the ones that work best for his or her business. That being said, here are a few that I believe should be on everyone’s list.

Gross Margin—This is the most important metric of all. Nothing else matters without a competitive, profitable gross margin. Use your recently gathered understanding of your cost and competition to set the right gross margin for each product in your retail store.

Dollars Per Square Foot—Each inch of your retail space is incredibly valuable. This metric illuminates what products are making the most of the space they are taking up. Dollars per foot quickly highlights your rock stars and your underperformers, allowing you to change up your product mix to maximize sell-through. Measuring this number will also get you focused on display and help you use your space as effectively as possible.

Average Ticket—This is a measurement of how much each customer spends in your store on average. Obviously, you want this number to be as high as possible and on the rise. This metric brings a focus on bundle selling, higher value products, custom options, accessories and special added services your company provides.

Traffic Flow—Keeping track of how many customers walk through your door each day is vital. It allows you to note trends and seasonality, leading to more efficient staffing and scheduling. It provides a basis to measure the success of specific marketing programs. It also sits as the basis on metrics such as close rates, cost per customer and cost per transaction.

As I mentioned above, there are dozens of retail metrics you can employ. The point is to actually employ them. Retail is all about value—offering value to your customers and building value for your company. Retail metrics allow you to make the right decisions to continually build this value. They change the discussion from “What does this cost me?” to “What does this earn for me?”—which leads to happier customers and a healthier bottom line.

Mike Scarsella is the northeast regional vice president at Golden Technologies, Inc.For more information, visit goldentech.com.

In addition to knowing your cost, you must also know your competition inside and out. “

12 | GOLDENTECH.COM

DIGITAL MEDIA

D igital media is all the rage. Facebook is part of our daily lives. Sixteen years worth of

videos are uploaded to YouTube daily. Live-streaming social media apps are changing the way we see the world. And while HME suppliers will not likely be behind the next hit mobile app, there are plenty of ways you can use digital media to create content that should be

used in your marketing plans, a process often referred to as content marketing.

If you have tried creating content, chances are you fall into one of two camps:

Camp Digital: You believe you can apply some, if not all, of these digital tools to help grow your business and sales. You believe there is a direct benefit to your bottom line, but you sometimes cannot put your finger on it.

Camp Analog: You do not think any of these tools will have a meaningful impact on your bottom line. You do some digital marketing

when you have time, but even then, you have not seen any meaningful results.

No matter what camp you’re in, chances are you’re struggling to find your footing in this digital age.

If your digital marketing efforts are struggling it’s most likely because of two big reasons: 1. You are not patient. and 2. You are not consistent.

Your efforts are not failing because of the quality of your content; in fact, I believe there is no such thing as bad content. It is how you use your content, present it and what you want to get out of it that matters. Here are a few things you can do to get yourself on track to success with your digital marketing efforts.

MAKE A PLANYou would not start a business without a business plan. Likewise, you should not jump into digital media without one. Posting randomly without reason

to Facebook is not a good use of your time. You need to define what you want to accomplish with your efforts. Time is money, so you should not be wasting time posting to any digital platform if you don’t have a goal in mind.

Pro tip: Start with one platform (Facebook, for example) and build up your following. Don’t do Facebook, Twitter and a blog all at once—or they will all suffer.

MAKE A CALENDARFacebook, Twitter and blogs thrive when they are fed consistently and on schedule. Chart out what content you are going to post and when. Don’t worry about repeating yourself, as long as it is on a different day, at a different time, with a slightly different worded message.

STOP HARD SELLINGIf you post a photo of a product you sell, name the price, and the features and benefits, then you just totally missed the point of social media. You need to provide something of value to anyone following your page. Stories are what move people.

Once you have picked a platform you want to focus on, you have to speak the language of that platform.

Digital Marketing the Right Way By Tim Robinson

No matter what camp you’re in, chances are you’re struggling to find your footing in this digital age.

“

Reprinted from September 2016

13 GOLDENTECH.COM |

SOCIAL MEDIA PLATFORMS TRANSLATEDFacebook: Post no more than twice a day. Facebook wants its content to generate likes, comments, and shares. If it is not “social,” this platform will bury you, even if you pay money to boost a post. The best thing you can do is share photos and stories of satisfied customers (with their approval), exciting stories about your employees getting promoted or their kids’ graduations and your store’s social gatherings. Also promote events in your community.

Pro tip: Videos get more exposure on Facebook. Facebook Live video streaming is also highlighted more often to all of your followers.

Twitter: You can post as many times as you want in a day on Twitter, because the stream is always changing. Twitter is all about listening. Try a tool such as Hootsuite, and set up keyword searches. Respond directly to people and offer them help, services and,

in some cases, information about a product you sell.

Pro tip: If you tweet @someone on Twitter, add a period before .@ so that everyone who follows you will see the tweet. If you don’t, only you and the person you tweeted to will see it.

Blogs: Blogs come in a variety of styles and formats, and are moving into stand-alone content marketing pages that provide value to a select audience.

Begin posting once a month and build up from there. Set up posts to go up at the same time every month, for example the first Tuesday, at noon. Promote the blog post on Facebook and Twitter, and post at a few different times during the week to capture different audiences. After a while, you will have a reservoir of content you can recycle and promote content again at a later date.

CAPTURE EMAIL ADDRESSESAt this time, email is the most valuable

digital media-marketing tool available. Add a “Subscribe for Email Coupons and Updates” link anywhere you can. An email distribution service such as Mail Chimp can be free or low-cost for a small business, and allow you to reach subscribers who may not take part in social media with news and store specials.

BE PATIENTAll social media and content marketing takes time. If you post something worth sharing, often and on-schedule, then your efforts will pay off in time. Just pace yourself, start somewhere small and build your following.

Tim Edwin Robinson is the director of digital media at Golden Technologies, Inc.For more information, visit goldentech.com.

Illustration: Camp Analog v. Camp Digital by Embla Ester

14 | GOLDENTECH.COM

GOLDEN OPPORTUNITIES

2017 Promotional Schedule

HOLIDAY SELLING SEASON

PRODUCT SHOWCASE

ADVERTISING FOCUS

CHANGE POP

CHECK LC / SCOOTER INVENTORY

TECH SERVICE TRAINING

TRADE SHOW

WEBINARS

New Year’s Gift

Snowbird States Scooters / Lift Chairs

Snowfilled States Lift Chairs

Gifts for a New You!

New Year / New You

Content Marketing 101

Valentine’s Day

Snowbird States Scooters / Lift Chairs

Snowfilled States Lift Chairs

Gifts for a Loved One

Love

Spring PO’s

Philadelphia, PA

Medtrade Spring

TV Advertising 101

March Madness

All States Scooters / Lift Chairs

Spring

Mother’s Day PO’s

Austin, TX

Medtrade Spring

Facebook Advertising 101

JANUARY FEBRUARY MARCH


PRODUCT SHOWCASE

ADVERTISING FOCUS

CHANGE POP



TRADE SHOW

WEBINARS

Spring is Coming


Gift of a Lift

Mother’s Day

Father’s Day PO’s

Phoenix, AZ

E-Mail Marketing 101

Mother’s Day


Gifts for Mom

Mother’s Day

Summer PO’s

North Carolina

Online Contests

APRIL MAY JUNE

Father’s Day


Gifts for Dad

Father’s Day

Closeout PO’s

VGM Heartland Conference

Online Customer Service

Text “goldentech” to 44222 to be automatically invited to

each of our 12 webinars!



15 GOLDENTECH.COM |

GOLDEN OPPORTUNITIES

Golden 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.


PRODUCT SHOWCASE

ADVERTISING FOCUS

CHANGE POP



WEBINARS

Independence Day


Gifts of Independence

Summer

Closeout PO’s

Getting Found Online

Summer Sizzel


Gifts of Summer

Sale

Falls PO’s

Akron, OH

Advanced Facebook Advertising

Falling Prices


Gifts of Comfort

Fall

Closeout PO’s

Costa Mesa, CA

Advanced E-Mail Marketing

JULY AUGUST SEPT


PRODUCT SHOWCASE

ADVERTISING FOCUS

CHANGE POP



TRADE SHOW

WEBINARS

Spooky Deals


Gift of Mobility

Halloween

Medtrade PO’s

Medtrade Fall

Advanced Social Media Marketing

Thanksgiving Savings


Gift of Mobility

Holidays

Holiday PO’s

Kansas City, MO

Advanced Video Marketing

Christmas Specials


Gift of Mobility

Holidays

Holidays

Maryland

Advanced Content Marketing

OCTOBER NOVEMBER DECEMBER





Grow, 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.

Strategic Business AssessmentsAn 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 ServicesEvery 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 DesignProduct Sourcing and Merchandising Operations and Training

Management Services ContractsOur 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 ModelVGM 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.

Our programs include:

CONNECT WITH US!Twitter: @VGMRetail | Blog: blog.vgmretailservices.com

RETAIL SCIENCE ROADSHOWAre 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 SeminarsTwenty-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!

16 | GOLDENTECH.COM

MARKETING

Seeing well-made signs or banners that highlight certain products we can relate to often take us to

that “feel-good place.” An attractive model photographed in a flattering outfit can help us imagine ourselves in the same outfit. Add a sale price—say 50 percent off—to an item you already want, and the store has the deal practically made.

Developing a marketing strategy is not just about the perfect model on the perfect store sign (promotion), or the 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 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 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 matter how great your products are.

If no one knows what you sell—or, more importantly, why they should purchase those items—you will likely not have more than a handful of customers in your store. This is

especially true in the HME industry, because potential customers do not typically window shop for a lift chair, walker or compression socks.

This is where your creative marketing strategy comes into play. Have a greeter at your front door. This person should not only be cheerful, but should also be knowledgeable

about the products you sell. If you have a customer who comes into your store for a walker, chances are good that this customer may also need a lift chair one day soon. I understand that not even a top marketing or sales guru may be able to help a customer see the importance of a lift chair today while he’s shopping for

The Importanceof EffectiveCollateral Its top priority is to help increase sales

By Carrie Ernest

Reprinted from October 2016

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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.

Start by defining your audience and creating marketing tools that will speak directly to them. Use appropriate color schemes with lifestyle images so your customer can really picture himself in a brand new lift chair. Make sure your brochures define the details—the features and benefits

that will educate the consumer about your products. Create sell sheets that give the technical details, too, so all customers will know the measurements of the lift chair and can figure out which chair will best fit their homes and lifestyles.

Once you have shown your customer—through the use of effective

collateral—that he can customize his lift chair, you will have a satisfied customer for life.

Collateral may take on various forms, but the most important role of collateral is to be effective at increasing sales. “

Carrie Ernest is the marketing manager at Golden Technologies, Inc. For more information, visit goldentech.com.

18 | GOLDENTECH.COM

SALES

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 look at a few basics.

First, what is sales? Some people have the mistaken idea that making the sale is about aggressively pushing a customer into making a purchase while making as much money as possible. That is not selling—that is

manipulation. On the other side of the spectrum, some people believe that selling is just waiting around for a customer to independently select a product to bring to the register and pay. That is just being lazy. In reality, true selling (like so many other things in life), is somewhere in the middle.

Put on Your Educator HatIn an HME store,

a salesperson is not just a salesperson. An

HME salesperson, often wears many hats. The first hat that an HME salesperson needs to wear is that of an

The Hats of HME SalespeopleChange the way you think about the process, and selling can be enjoyable and rewarding.

By Darrell Bradshaw

1

Reprinted from August 2016

19 GOLDENTECH.COM |

educator. When a customer comes into an HME store, they most often need education about the products they will be using. This is really what sales is all about. An HME sale is always more about educating the customer than it is about anything else. With HME products, the patient needs more education than for nearly any other type of purchase. It is necessary for an HME salesperson to be able to teach and instruct the customer in the use of the products they sale. They should be able to do this well, and they must also know how to use each product

properly in order to do so. Beyond this, an HME salesperson should also know the related products that could help improve the quality of life for the customer they are educating. For example, if a customer comes in to purchase a lift chair, do you also explain the need for a raised toilet seat and grab bars for the bathroom? The patient needs to be able to stand in every room, and they will not have the lift chair in the bathroom. As an HME salesperson, you have the ability to add quality to the life of your customers, but that is only going to be

true if you educate them on all of the products they might need.

Put on Your Encourager HatThe second hat that

an HME salesperson wears is that of a

counselor and encourager. The word encourage simply means to “instill courage” in another person, and it is absolutely necessary to have this as part of your sales process. Many times an HME customer needs a little encouragement, and not just as

it relates to a product or a service you offer. If a customer is in your store, they are most likely facing a medical difficulty. It can be very disheartening and even depressing to have several ailments and to feel lost in how to get the help that’s needed to continue being as active as possible. By truly encouraging the customer on a personal level, you will build a relationship, help with their needs and allow them to feel positive emotions during a potentially mundane errand. This small gesture will mean the world to someone seeking that extra

bit of reassurance. And, yes, it helps you to make the sale. Every good salesperson has their heart in their work. This is another reason I say that HME salespeople are some of the best.

Put on Your Assistant HatThe third hat is the

hat of an assistant. When a product is

selected, it is not just enough to educate or encourage. It is imperative to assist by demonstrating and serving. Assisting is not just educating—it involves hands-on training.

Many of you may be thinking, “I already do all of these things.” Plenty of the HME salespeople I see are very good and just don’t know it. But, don’t rest. Keep honing the skills of wearing the above-mentioned three hats. One great step to take is to constantly evaluate yourself on each sale. Ask yourself: Which hats did I wear? Did I help in each area of educator, encourager and assistant? Only you can really answer that, and only you can honestly see how each area could be a little better on the next sale.

Darrell Bradshaw is the Southeast regional vice president at Golden Technologies, Inc. For more information, visit goldentech.com.

Every good salesperson has their heart in their work.“

Most salespeople in the medical world are better than they realize.“

23

20 | GOLDENTECH.COM

MARKETING

We certainly don’t have to sell you on the power of television or radio.

However, most people believe it’s too expensive or too difficult to advertise on TV. But, a commercial doesn’t just have to be only on TV anymore. Through the power of social media you can share and promote your commercial on your own. Finally, your own showroom can host a feature presentation of your commercial on a loop for all your customers to see.

Getting a TV SpotGolden offers our dealers free custom TV spot tagging. That’s right, FREE!

If you’re a Golden customer all you have to do is fill out a form at http://www.GoldenTech.com/TV/ and upload your store logo. We will send you back a download link. It’s really that easy!

So, once you get your high quality TV commercial, what do you do with it?

Advertise on Local Broadcast TVYou don’t need your own “Mad Men” advertising team, because chances are that you would best know the market that you live in and what TV stations people love to watch. So, call the TV

station or local cable network you want to advertise on, and they will put you in touch with a sales rep who can give you all the rates you could imagine. They can work with any budget. They’ll even give you a schedule (called a “traffic” report) of when your commercial is expected to run. When you’re happy with that, all you have to do is give them your TV spot download link, your money (of course!) and you’ve made an ad buy! If you want, Golden can also connect you directly with the station(s) you plan to air on and we will deliver HD quality spots directly to them online.

You can advertise on local TV for as little as $30 and up, depending on the size of your “market” (based on population and coverage area). While prime time or “peak hour,” time-slots cost more, the exposure may definitely be worth it. For most DME suppliers, you can’t beat the value of advertising on daytime TV shows such as “The Price is Right.” The local news is also a sure bet for targeting adults aged 50 and over. While you can save some money playing your commercial during off-peak hours, the chances of someone seeing your commercial at night when your business is closed, and then calling you the next day to follow

up are pretty unlikely.

Cable TVYou can find the best bang for your buck in broadcasting by advertising through your cable provider. You can insert your commercial during any cable program. The same rates go for local TV. Off-peak hours are available for only a few dollars (we’ve seen rates as low as $12 a play), but you absolutely cannot beat the audience of a major college sporting event that is important to your local area. Again, since you know your area best, call the cable company that serves your community and ask to speak with a sales representative. What’s amazing about cable is you can localize down to your immediate local community to maximize your impact.

Online Video AdvertisingEmbrace the power and reach of social media by uploading your TV commercial online. There’s two major places you should upload your TV spot online: Facebook and YouTube. Facebook allows you to promote your TV commercial from your business Facebook page. When you update your status just click “upload video.” Once you post, you can then click the blue

Not Just For TV Anymore!By Tim Robinson

21 GOLDENTECH.COM |

button on the bottom to “boost post” and put money behind your post as an online advertisement with many customizable controls to reach people that live in your community and haven’t liked your Facebook page (yet!). You can also upload your commercial to YouTube which allows you to embed it on your website for free. Even if it doesn’t ever play on television, you can still gain notoriety by having your custom tagged commercial embedded on your website.

In-StoreYou can also use your free custom TV spots from Golden as a product loop in your own DME store. It works well to remind customers just why they came in to visit you in the first place, and it can be a useful tool in listing out (on screen) many of the benefits that the Golden products could have. It’s great to be able to remind customers about the features and benefits in a medium that is visually compelling. It’s also very helpful when, for instance, you are talking with another customer and you can’t give every customer

immediate attention when they walk in your store. Providing initial product information is a great way to really draw in the attention of your customers while they begin to browse.

Media PlayersGolden offers a turn-key HD media player kit ($59.95 available at www.GoldenTech.com/OrderPlayer/) to make it easy for you to set up one or more TVs in your store as a digital billboard. Dealers who have ordered and started using the Golden Digital Media Player have already seen an impact on sales!

Mark Gawel, Owner of Access ONE by MSG in Fort Wayne, Indiana, said,“I’ve watched our customers become so interested while sitting in a Golden Lift Chair!” Mark adds, “Actually, they are so well educated and aware of the product by the time a sales person tends to our customer, a sale has already been generated!”

Some dealers have quickly learned you may need more than just one! Some are placing one by Golden scooters and another by Golden

lift chairs. They are easy to update anytime with a flash drive whenever Golden releases a new product video, which are automatically sent to dealers who have registered their players.

Touchscreen Desktop / iPad Video Players Another great resource is having a desktop computer with an interactive touch screen or mobile device, like an iPad, which is ready to show your customers the same product videos that we have listed on YouTube for you to watch at anytime. You can have your sales team bring them to a customer to show them more information on the product their interested in, even if you don’t carry it in store.

So don’t think a “TV Spot” is just for TV anymore!

Tim Edwin Robinson is the director of digital media at Golden Technologies, Inc. For more information, visit goldentech.com.

22 | GOLDENTECH.COM

Our Golden story began when we, as the new management for Apex Pharmacy,

Homecare and Nutrition Center, contacted the company Golden for advice regarding our lift chair display. We weren’t expecting an entire team of Golden representatives to come in to help! Our area Sales Representative Tom Corey designed a display for our retail floor recommending the best models for our geographic location.

Our Regional Vice President, Mike Scarsella, used his extensive furniture knowledge and background to identify the best area on the sales floor for the chairs, and in training both the staff and management team who were now able to better appreciate the true value in promoting lift chair sales.

Starting with a modest five chair display that is now up to twelve, Tom and Mike together pulled out tools to help us remove fixtures with lower

profit items and set up the new display. Golden teamwork was evident when reps and VPs who were not even from our region contributed both ideas and solutions to help us grow: Todd Godek, Mike Zeman and John Smid to name a few. We were elated when the Regional VP, Darrell Bradshaw, from the Southeast showed us how to use Golden’s flagship selling center to properly educate our customers on the various Golden lift chairs, accessories,

Team Up with Golden for GrowthBy Veena Choudary

CASE STUDY

23 GOLDENTECH.COM |

and patented technologies. We have since not only quadrupled our sales, but we have also have found that we are now selling higher end chairs and accessories!

Recently, we added a digital media player to our inside store display, and Golden’s Director of Digital Media, Timothy Robinson, has helped us with customized videos as well as suggestions for improving our online and social media presence. We also worked closely with Golden’s Director of Business Development, Bob Winder, to identify our business goals and periodically evaluate our sales numbers. He has helped us to plan our purchases, identify sales targets, and close large orders. He has also supported us in adding scooters and power-chairs to our line up and has trained our staff and even our delivery drivers to better present not just the Golden lift chairs, but also the various Golden mobility solutions that we offer. It is because of this guidance that we have been able to pursue and close orders for various facilities. Our staff has completed the service training that Golden provides, and we now help customers all over Connecticut. When we recently visited the Golden manufacturing facility in Old Forge, PA, it was immediately evident to us why these chairs are of such high quality. The care and attention to detail at every single step of the way is consistent not only in sales and

customer service, but in production, as well.

The Golden team has continuously had our back and has been with us every step of the way, from the purchase of the lift chair to selling it and servicing it and resolving any issues that may occasionally arise. We have yet to encounter a problem that Golden has not fixed for us. The Golden Sales Reps., the Vice President of Sales, Jason Davis, all the customer service associates, the technical support staff, and even the CEO, Richard Golden, promptly respond to our emails and calls!! The team has helped us with various other items as well as drawing from their vast sales expertise and DME experience. The consistency

in service and support evident across all Golden employees is admirable and our visit showed us that it trickles down from the top: from Mr. Golden’s unquestionable care for each individual end user and all his dealers. We have worked with several manufacturers, but the Golden team has truly shown us what it is to deliver a quality product and stand by it. Together we can all succeed!

Veena is the pharmacist and manager at Apex Pharmacy, Homecare and Nutrition Center in Hamden, Connecticut.

We have worked with several manufacturers, but the Golden team has truly shown us what it is to deliver a quality product and stand by it. Together we can all succeed!

“

24 | GOLDENTECH.COM

Circa 1985, Golden Technologies founders, Bob Golden and Fred Kiwak, demonstrate the strength of the lift mechanism.

Our Humble BeginningsFounded in 1985 on the pledge to “build it right the first time.”

AMERICAN DREAM

“Never forget where we came from and whobrought us where

we are today” Rich Golden

“Keep things simple for our customers,

no red tape” Rich Golden

“Take care of the customer

first, sort it all out later” Fred Kiwak

“Build it right the

first time” Robert Golden Sr.

“Do the right thing”

Rich Golden

Golden Technologies’ first manufacturing building.

Rich Golden and Fred today

Congratulations to our entire team!

Golden is Honored to Win Two Major Awards

PA Governor’s ImPAct Award Winner

Bronze Telly Award for DayDreamer Yoga TV Spot

www.goldentech.com

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golden path “retail mindset” or “retail capacity,” however ... keys to success as with all...

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