golden path€¦ · brisa - the right path to success as proud partners in the durable medical...
TRANSCRIPT
GOLDENTECH.COM
2018
GOLDEN PATH
Selling High-End Product
Retail Value Chain
How to Drive More Customers
New Sales Avenues
Developing Customer Loyalty
Driven to Overcome Sgt. “Billy” HamlettHow His Golden Envy Power Chair Serves in His New Battle on the Homefront
Quadruple Amputee Amy MartinezWhat Drives Her Now
HME RETAIL MAGAZINE
ENVY
www.goldentech.com | 800.624.6374
1 GOLDENTECH.COM |
The Path to retail can be long, windy and loaded with potholes and hills. Those
of us participating with the Golden Path understand this and wish to provide retailers with a resource that is informative, inspiring and everlasting. Something that can be read and reread again and again throughout the retail journey. A journey that provides the business with the most control over their future and profits.
The Golden Path has been developed and supported by the people and companies you see named throughout the magazine. I salute all of these organizations for providing us with excellent products and services, and for stepping up and going above and beyond, too. Stepping up to help offer their expertise in this book, collectively, to better the future of our industry.
Home health care has touched my life personally this year. This industry is key to helping people maintain their independence at home for as long as they’re willing and able. We have the most amazing people with the largest hearts and the biggest intentions for service working together to improve lives, something so special. The people, the products and the services all designed to make other’s lives better, and we have a duty to make sure the world knows who we are and what we sell.
We salute the great men and women in the home health care industry. Thank you for your passion, your caring and your efforts. It matters!
A MESSAGE FROM THE VP
C.J. Copley, MBA, Executive Vice President Golden Technologies
2 Selling High-End, Feature-Rich Product By Cy Corgan
4 Path ProfilesWe visited four dealers across the country to see what’s working for them
By Tim Edwin Robinson
10 Follow Your Fears and Reach Your Dreams By C.J. Copley
11 Growing Retail Margin in the Face of Medicare Cuts
By Jason Davis
12 Tech Tip: Maximize Battery Charging Time By MK Battery
14 What is Your Value Chain? By Mike Scarsella
16 2018 Golden Marketing Plan
18 Courage to Envy (Cover Stories)
19 Motivational MovementENVY Power Chair User Amy MartinezBy Tim Edwin Robinson
20 Driven to Overcome ENVY Power Chair User Sgt. “Billy” Hamlett By Tim Edwin Robinson
23 All in the Family: 3rd Generation Reflections By Alyssa Golden
24 How to Drive More Customers By Chris Carroll
26 New Sales Avenues By Darrell Bradshaw
29 Developing Customer Loyalty By Carl S. Lloyd
30 Consumer Financing Solution: Essential Equipment within Reach By CareCredit
32 Sweet Profits By John Smid
2018
GOLDEN PATHHME RETAIL RESOURCE
2 | GOLDENTECH.COM
Selling High-End, Feature-Rich ProductBy Cy Corgan
Selling has been part of the business cycle for thousands of years. You have something fantastic and now
you believe everyone needs to have one, too! Now the million-dollar question— how do you get them to buy? The goal is to influence a consumer to buy something that they don’t have and may not yet even know they need but will, in the end, be pleased by their purchase.
The best businesspeople and salespeople ultimately want to solve a problem for their customer. By asking the right questions, you can discover what it is your customer needs, then demonstrate how your product makes life easier. This process is the key to selling higher-end products. Your customer has a problem or need, and your product has a feature to fix that!
Consumers buy from people and businesses they trust. A buying decision is the result of both how well information is transferred from the business to the buyer and the believability of the information. The better job you do of showing the customer how your product improves their life, the more likely they are to make a purchase and the more trust you build, the larger their investment.
Sounds simple, right? Ask the right questions, present the right product, earn trust, and close the sale. No problem, anyone can do it—with a little practice and some prior planning. Start with asking the questions that provide detail on a “day in the life” of the individual that will be using a product. The answers to these questions will allow you to design your
product solution around the customer’s needs.
Get to know your products, especially your higher-end items. Become fluent in the operation of the products, and be able to provide a benefit to each of the products’ features. It is imperative that you know how your products improve your customer’s daily experience. Use this knowledge to build value for the consumer. A higher value for the consumer equals a bigger sale for you.
Next, prepare a list of questions to ask your customers. The questions should be open-ended and designed to get the consumer talking. The more you learn, the better you can help.
Finally, tie it all together for your customer. Help them see how your product fits into their lifestyle. When the idea of the product becomes personally meaningful to your
customer, he or she will be ready to make the investment in you and your product and buy.
Moving consumers through a sales process isn’t difficult. It is simply a matter of aligning the right message to the right customer. Getting the right products and services into the hands of your customer to help make their life easier is the right thing to do. Knowing your customer is ready to buy, has been well-informed of the options and will be completely satisfied with their purchase is a win for you and for your customer. In the end, isn’t that the ultimate goal? Great selling!
Cy Corgan is the Vice President of National Accounts for Golden. For more information, visit goldentech.com
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4 | GOLDENTECH.COM
PATH PROFILESBy Tim Edwin Robinson
We visited four Golden dealers on two coasts to see how they’re following the
retail path to success. They each have unique backgrounds and fresh perspectives
on how to survive in this ever-changing medical marketplace. Some have taken
a few parallel paths when it comes to how they approach customers and lay out
their showroom floors. And some have found success by building a referral base
with medical professionals or using new digital marketing tactics.
Tim Edwin Robinson is the Director of Digital Media for Golden. For more information, visit goldentech.com
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MobülLong Beach, CABIG INVENTORYFounder and CEO of Mobül, Wayne Slavitt, stresses that selling from the brochure is not a replacement for seeing the product in person. It also has an impact on the bottom line. According to Wayne, “It was pretty easy to recognize that the more lift chairs you have on the floor, the more lift chairs you probably will sell.” He also believes Golden’s deep product line helps fit a customer’s needs. “The best thing for us as a retail store is that Golden allows us to tell a good story,” he added.
NO BOXESThe store is not crowded, but it is stocked full of equipment ready to go home. Wayne says, “Most everything we sell is fully assembled, ready to take home right now. We don’t send people home with boxes.”
TRUST“They ask us for solutions,” Wayne explains. “They ask us to listen, and then to ask appropriate questions on the path to finding the right solution.” Mobül works to gain the customer’s trust by providing solutions when their customer or their customer’s family member is at their most vulnerable. This confidence turns customers into friends for life.
JUDGMENT-FREE ZONE“I will tell you that the one thing we’ve learned is to listen, and to never, ever, ever judge someone who’s walking through that door.” Wayne says this is the biggest mistake anyone can make in a retail environment. He explains what is behind their ‘real-life solutions’ motto: “Our goal is to find that solution and provide that product to the person today, so they can get back to their lives.”
NO SIGNAGEMobül doesn’t have department signage overhead. Wayne says they want to direct people personally, “Our store is often referred to as a candy store, particularly by therapists and caregivers. They’ve never seen this many items in one store, so we want them to walk around. When we first opened up, one thing we observed was a person would come into the store alone, and we would walk through the store with them and give them a tour, which we really enjoy doing. And then a couple days later, the person would return, but this time she had two or three friends in tow and she was giving the tour. It was as if this was her store, this was her find, this was her discovery and she wanted to share it with her friends.”
WIDE AISLESWayne says, “Every one of our aisles is wide enough to accommodate a scooter, a wheelchair or a walker.”
FOUR-ROOM “HOME” SHOWROOMMobül built a four-room show space in their store, including a bedroom,
a bathroom, a living room and a kitchen. Wayne says it’s not only for visual demonstration of their products but practical as well, “It gives people a chance to try products out before they take them home and realize that they might not be the right fit.” Wayne also used an interior designer to make the space inviting and promote the psychological aspect of healing with the store design.
ONLINE SAVINGS MYTHWayne says shopping online has one big misconception, “Most people’s perception is that shopping online will be cheaper than shopping in a brick and mortar store.” Mobül brings an iPad to the customer to shop for the same product online. They’ve found that for their service area in Southern California, they often beat online prices, and they include white-glove delivery.
DIGITAL MARKETINGMobül also finds that digital marketing brings them the most value for their advertising dollar and it continues to evolve. Wayne says the target market is adapting with the changing times, “Without a doubt, the baby boomers are becoming more tech savvy than they were five years ago and that’s something that we’ve recognized.”
See how Mobul is attracting customers from nearby LA to their ultra-modern and sleek showroom experience.
Owner, Wayne Slavitt
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Professional MedicalEl Cajon, CAMEGA RETAIL SHOWROOMSamuel Mendelsohn started a medical supply business out of the family station wagon in 1971. Three locations and three generations later, their kids and grandkids now operate out of a sprawling 70,000 square foot East San Diego County location, with 8,000 of it dedicated to showroom space. His son, Mark Mendelsohn, remembers the first time they started with Golden some 20 years ago, “I remember when Rich Golden came in, my dad was still here, and I guess my dad sort of broke him in.” Samuel wanted to have a retail showroom to go along with their home delivery, and Golden was the perfect partner to start a two decade-old relationship.
SERVICE AND SELECTIONToday, Professional Medical has an impressive selection and carries the entire Golden line. They service everything they sell, with many staff members who have been with them since the start. Mark says the selection is key, but so is the support they provide, “Price and value, selection and service—we really stand by that.” The internet has changed a lot of things, but their selection is one thing the internet still can’t beat. Mark says, “You have to wow people when they come in.” He explains that getting to try what options are available is key, “Because not everything works in your home, so you have to come in here, you sit in it, you try it, and you realize this is the best for me.”
PRINT ADS STILL WORKThe third generation is helping the
family business enter the digital age. Mark’s son, Tom, says while they advertise on Facebook, print is still working for them, “The market we cater to still gets up, and they read the paper and have a cup of coffee.” Tom says they advertise weekly and it’s really helped in bringing people into their showroom. But Mark says their landmark status in the community is their best tool, “I ask people and you want to know, okay, what’s working as far as advertising? And the number one response I get is we’ve known you guys for years.”
NEED-BASED RETAIL“The key to retail success is when someone comes in, you have to know the product, you have to be able to help them, walk them through the process,” says Mark. People may not know what their needs are. “They may not know they need something for their bathroom. They may not know that a lift chair instead of a hospital bed would work better. So your staff has to really understand their needs and go from there,” he adds. Tom Mendelsohn says pinpointing patient needs is key,
“Sometimes they’ll come in here for something, fall prevention, something as simple as a grab bar, and they won’t realize that there is bathroom equipment out there. Or, you know, the lift chairs, lift and recline chairs are huge for fall prevention—we’re really educating.”
BACKED BY GOLDENMark says he likes working with Golden because he’s talked to the same people for years and they always support him, “We know they have our back, and it’s been a success story for us for over 20 years with Golden, and we plan on continuing that.” Mark remembers one story of a customer who lost their scooter off the back of their motor home, “Golden stepped up and replaced that scooter. I mean, that’s way above what anybody would do. And that’s the type of things they do, and that’s why we know that if we sell this product, we don’t have to worry about problems down the road.”
See how the Mendelsohn family built Professional Medical to the superstore it is today on decades of compassion and caring for their customers. BONUS VIDEO: LiteRiders in the front, but there’s a Knight Rider in the back! See the unique car col-lection the Mendelsohn family has and how they connect with their community using them.
Tom Mendelsohn
Mark Mendelsohn
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Komfort & KareMagnolia, NJMODERN SHOWROOMKomfort & Kare’s showroom is impressive, not just from the street with digital signage and large windows, but as you walk in with its vaulted ceiling, scooter test track and a two-story working stair lift display built over a garage with the back-end of a car showing off a vehicle lift.Owner Seth Auerbach says the inspiration for the showroom came from Apple and Starbucks stores, “We wanted to replicate that experience here. So when you look around, we have a stair glide that takes you up to a second floor. The lift chair display area by the front window is very bright, with custom built displays, where things such as wires and electricity are all there but they are hidden. So it’s a multi-modality concept where people come in with different healthcare conditions. And when they walk in they can see different concepts that can help them, that they may not have thought of before.” Seth explains he wanted an open environment, without shelving, and no checkout registers, “It’s more consultative than walking into a CVS, Rite Aid or Walgreens—that is more transactional.”
OWNING VS LEASINGKomfort & Kare was renting a space from a large realty company next to a large shopping center. It was great for traffic but the parking was limited. When the anchor grocery store closed down, traffic decreased. They went on to purchase an old AutoZone store location so they could invest money in their showroom layout without limitations. Seth explains, “The biggest difference between that space and this space is, it’s the same square footage virtually, but here we’re able to do basically whatever we want to. If we want to do certain retail displays, I feel good investing the money in doing so. So, we were able to take a blank canvas in this 7,000 square foot space and basically just build it the way we had envisioned it for years.”
INVESTING IN STAFFSeth says they don’t invest in advertising as much as other retail outlets, “We invested more in people. Clinical people, folks that were trained in different product categories. For instance, orthotics and prosthetics.” The back room has an impressive prosthetics shop where a full-time expert is forming
custom molded legs and arms for clients. Seth says, “We invested in people who had training, who had the experience and who had a special passion for working with people. So they could have been nurse practitioners in the past or physical rehab therapists that just wanted a change or different hours, and we were able to do that here.”
FORWARD THINKINGKomfort & Kare still does Medicare billing, but Seth advises dealers to be ready for the inevitable changes, “If you’re not waking up every morning trying to think of the next thing, you could be in trouble.”
STRONG GOLDEN REPSeth gives credit of his retail success with Golden to his sales representative, Tom Devereaux, who’s been partners with him for the past 14 years—the longest relationship he’s ever had with a sales rep. “Tom has been somebody who has been a trusted advisor through the years.” They call on Tom to know what’s going on locally and across the country with other suppliers in the industry. According to Seth, “If a rep can differentiate themselves by helping us sell and helping us become a better company, a more profitable company, that’s really the value. And I think that’s what Tom has brought to us through the years.”
See inside their sprawling Philadelphia suburb showroom.
Owner, Seth Auerbach
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NEW TO RETAILOwner Jeh Mody was in manufacturing plastics and sold his business, but he wasn’t ready to retire. He found a medical supply business that was online, but that didn’t work. So he tried insurance billing, but that proved difficult. That’s when Jeh met Golden Sales Representative Mike Zeman who said, “Why don’t you start a retail store instead of just doing insurance?” The rest was history. Jeh says some naysayers tried to apply standard retail rules to HME, “Everyone said it would take three to four years.” All Home Medical proved to be profitable in well under two years.
LOCATION, LOCATION, LOCATIONAll Home Medical has a huge glass windowed showroom on a busy highway in Central San Diego. Jeh says, “We have good visibility and that contributes to a lot of people walking into the store.” Neighboring restaurants bring in a lot of traffic as well. Jeh says when they moved in the space was too big, but now they are maxing out and may expand their back-end with a warehouse nearby.
BREADTH OF PRODUCTAll Home Medical has a large, double-sided shower display, and that is what attracts a majority of their customers. Jay says that leads them to view their large inventory of other products, “They look around and say, ‘Oh my God, I didn’t know that there are so many other products that are available that would be suitable for the person that we care for.’ It starts with the bath safety products mostly.” All Home Medical also carries
three brands of compression stockings, has a contractor’s license to install stair lifts as well.
RENTALSAll Home finds rentals to be a big business now, but Jeh says it’s key to keep products fresh, “The rental products are all maintained in good, proper condition, so people like renting our equipment because it’s almost brand new.”
DIGITAL MARKETINGJeh says digital marketing works best for them in generating sales and traffic to their store, “I think digital advertising is the biggest draw that we have. Mostly people check online for the products they’re looking for, and then when they come into the store, they realize that the pricing isn’t all that much more than if they ordered online, where they’d get a product dumped on their sidewalk, which they’d have to open and unpack and put together.
WHY GOLDENJeh says Golden lift chairs are easy to sell,
“The main thing is that they’re made in the United States. That’s a big selling point. They’re made in the U.S. They have a lifetime warranty. We’ve seen that Golden stands by their warranty. So that’s what we really push.” All Home has found that they sell a lot of Brisa fabric chairs, more so than cloth. “We’re just happy with the Golden brand and their chairs and the quality.”
CUSTOMER FIRSTJeh says listening to a customer and explaining that service comes with everything they sell is key, “I’ve told everyone here in the store that worked for me that the customer comes first. Do whatever it takes to make them happy. And that’s most important.”
All Home MedicalSan Diego, CA
See more about why Jeh Mody credits his retail success after spending a life in manufacturing. BONUS VIDEO: See how All Home Medical Supply helped us deliver a Buzzaround Scooter to a San Diego man who had his stolen.
Owner, Jeh Mody
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10 | GOLDENTECH.COM
Follow Your Fears and Reach Your DreamsBy C.J. Copley
Not something we grow up hearing on a regular basis. Think about it. Who in
your life hears about what makes you uncomfortable or scared and suggests—do more of that. How long would you hang around that person? Example, say you are scared of spiders and you share this fear with some of your friends, and they say you should hang out with spiders more often and conquer that fear? If you have someone in your life who is strong enough to tell you that, consider yourself blessed.
However, this is not something most of us want to hear or would want to be told. Think about something you conquered that you were fearful of, how did you feel? Most would say they felt euphoric, empowered or confident. Why? Because you grew. You stretched your boundaries because you followed your fear and learned that while you thought it just might kill you, it didn’t. You’re alive and you survived.
Now, try applying this to your profession. “Fear” might be too strong of a word, so let’s use “uncomfortable.” This fear in the workplace can be traced back to simply not having the skills for the task that feels uncomfortable. Guess what? That’s fair! Why should you feel comfortable when asked to do something that requires skills you need to develop? If someone asked me to fly a plane today, I would be afraid. I don’t have a license. I don’t have the skills! I could learn them and become a pilot, however.
There is a process to developing skills of any kind and that process starts with
practice. Let’s use talking to customers as an example. This may be a huge fear for someone that has little experience. Why? That person would tell you it’s because they’re not good at talking to customers, or they’re afraid to say the wrong thing, or to mess up. Without the skills, that’s true, but without the practice, this will never change.
All masters admit to once being disasters because they know you can’t be a “master” without first being a “disaster.” People in roles for years and years have over 10,000 hours of practice or experience. All of them started the same way, with practice.
Leaders choose growth as an intentional and focused practice. Growth occurs by developing existing skills and learning new ones. Growth
rarely happens by accident and for those looking to take the first step, ask yourself, what parts of your life make you feel fear? Lean into that fear and let the process show you where you can grow!
For those following the Golden path, inevitably, you will find places of fear and discomfort. You’re outside of your comfort zone. You’re redefining your path and setting the course for your future. We salute you and commit to being here to support your journey on the Golden path!
C.J. Copley is the Executive Vice President of Sales and Marketing for Golden. For more information, visit goldentech.com
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Growing Retail Margin in the Face of Medicare CutsBy Jason Davis
In today’s HME retail environment, businesses all across the country are struggling to figure out ways to make
up for deep Medicare reimbursement cuts. A business that sells oxygen or sleep aids took a reimbursement cut of at least 25% over the last 12-18 months. Some of these companies decided to shut down the retail side and sell only oxygen to pick up more of those customers. To try to break even, these companies need to expand with new business in order to make up that 25%.
There are several ways to try to make up the difference:
1. Invest heavily in marketing and increase referrals
2. Buy DMEs or other respiratory companies
3. Use a third product category in retail to increase cash flow
Let’s talk about option three—by opting to increase your focus on retail, you will automatically yield the benefits. You’ll keep the lights on and employees whole.
Golden offers one of the biggest retail margin products in the industry—lift recliners. Retailers who are most successful have lift recliners on the showroom floor and marry them up with other products for respiratory issues, oxygen needs and medical devices. A patient’s mobility is decreased due to lack of oxygen in the system. Why not offer other retail products
that will help customers deal with their issue in several ways and enhance their quality of life?
If a customer has COPD or congestive heart failure, they may be more comfortable sleeping in a lift recliner. If someone uses a CPAP machine, they may get better sleep in a reclined position, not completely flat. Our lift recliners offer true zero gravity and, for some people, that may make all the difference in their comfort level.
Retailers should bundle sales to free up cash flow. By selling power lift
recliners with respiratory or sleep aids, you will help make up that margin and compensate for the reimbursement cut. Medicare also delays in making payments. Why not increase your high retail margin products and enjoy immediate cash in hand?
Jason Davis is the Vice President of Sales for Golden. For more information, visit goldentech.com.
The Golden team is trained to help you increase your retail margin with products, tools and marketing materials.
Call your Golden Representative today to get started!
12 | GOLDENTECH.COM
Maximize Battery Charging TimeBy MK Battery
There is not a simple answer to this question. A lead-acid battery should be charged after each usage (discharge).
The amount of charge time required is influenced by the following factors: percentage of discharge, ambient temperature, voltage and current output of the charger, as well as age and condition of the battery.
The ANSI RESNA standard states that 80% of capacity recharge shall be achieved within eight hours. Smaller current output chargers may make it necessary to charge for longer than the industry standard requirement.
In general, it takes about 60% of the total charging time to bring a battery from 0% to 90%. However, the remaining 40% of the charging time is needed to put the last 10% back into the battery. This is very important!
Answer Think of a battery as a fuel tank. The more fuel in the tank the more miles that can be traveled. Similarly, more battery charging yields more distance. We recommend that users not only recharge nightly but that they charge for a minimum of eight hours (longer charge times, up to 12 hours, would be even better) to ensure full recharge.
To further enhance battery life, it is recommended that a 12-hour charge
is performed at least twice monthly. Consistently undercharging a set of batteries can cause sulfation buildup on plates, thereby shortening run-time and reducing battery life.
Use the equipment manufacturers’ automatic charger for all routine charging. If storing batteries, make sure they are fully charged and disconnected. Avoid hot and cold extremes when storing, and periodically check the voltage on stored batteries and recharge as needed.
The Bottom LineLonger charge time = Longer distance and longest life!MK Battery makes available – free of charge to our customers – educational tools such as Battery Care and Maintenance Guides, recharge nightly stickers and key rings.
Contact MK Battery at [email protected] for more information or to set up a battery training in-service for your team.
How often and for how long should I instruct my customers to charge their batteries?
TECH TIP:
MK_HME_Shoulda_Flatbed_GoldenPath_MK_HME_Should_r 8/3/17 2:48 PM Page 1
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“
This morning I took my van to the shop for a routine checkup and maintenance—nothing
major, just an oil change, tire rotation, brake check, fluid top off, etc. There are at least 25 different places in my town where I can take my car for this kind of service. I choose to take my car to the dealership where I purchased the car. I know I pay a bit more to go to the dealership, but my reason for choosing them goes way beyond the cost.
My dealership has an express lane in its service department that does not require an appointment for routine maintenance. The staff is courteous and fast and usually remembers my name. They have a loyalty program that allows me to accrue points leading to discounts. They have a very nice waiting room with free coffee, pastries and TVs. They also have four work cubicles and free Wi-Fi where I can plug in my laptop and get some work done. If I need to go somewhere, they have courtesy transportation that will take me wherever I want. In a pinch, they have even provided me with a loaner car to use until my repairs were completed. Lastly, they never let me forget about them—reaching out to me on a regular basis through direct mail with coupons, follow-up phone calls, email reminders of service, even a birthday card every year. So, when I look at what I pay for the service being done to my car, I measure that cost against the whole value package being provided to me.
Retail is all about value: offering value to your customers and creating value for your company and employees.
As consumers, we measure value continuously. We make hundreds of choices each day based on the value being offered to us. Value is so much more than price. Value of products, value of service, value of customer experience all factor into the total value equation. The best part about retail versus old school, third-party-pay DME is we get to control the value we offer and create. We choose our products and vendor partners, we set the level of service provided, we create the customer experience, and we determine the price that is best aligned with that complete value package.
It starts with sitting down and writing out the details of the value chain you want your company to create. You have to decide what each link in the chain will be and where they will fall in order of priority. My car dealer made a specific
decision not to place price as the leading link in their value chain. They placed service and experience first and used those things to support where they fall on the price spectrum. They believed that long-term customer relationships would be built more on the experience and service link than on the price link. Since I have never seen their waiting room less than 70% full, I think their belief has
paid off. We have the same opportunity in the DME world. We can choose our vendor partners based on the value they provide. We can create a unique customer experience to differentiate us from our competition. We can provide a level of service that customers will both appreciate and remember. And we can set a price/value relationship that takes
into account the entire value chain we are offering.
When defining your company value chain, you have to repeatedly ask a very simple question: What does this earn for me? For too long we have been stuck in the rut of “What does this cost me?” and not conscious of the value that things bring to our business. This new question needs to be asked whenever you are
Value is so much more than price. Value of products, value of service, value of customer experience all factor into the total value equation.”
What is Your Value Chain?By Mike Scarsella
15 GOLDENTECH.COM |
“evaluating a vendor and their products. It needs to be asked when you are deciding on marketing and advertising initiatives and materials. It needs to be asked when you are evaluating and hiring employees. It needs to be asked when you are reviewing every single aspect of your business. Retail is about value and every element should contribute to creating it. It is always important to keep costs down, but they need to be measured in connection with the value the cost generates.
In addition to consciously defining your value chain and determining the value that all things bring to the table, you have to train and educate your team on the value equation. In most cases, this will involve a culture change from the old DME world and it will not be easy. Each member of your team needs to know and understand your company position, mission and value chain. They
need to know how their role fits into the equation, and what is expected of them to support the implementation of the value equation every day. Each department plays a part and that part needs to be clearly defined and understood from the sales and customer service staff to the techs and delivery personnel.
Lastly, all of this effort is for naught if the consumer base is not made aware of who you are and the value you offer. The most crucial part of the value chain is communicating it to your community. While traditional advertising is important and vital, a broader communication and marketing plan is essential for competing effectively in the retail segment. Communicating to your community involves a multi-faceted approach to continuously informing and connecting with your target customer base, which includes both existing
and new customers. A specific annual marketing and advertising plan should be supported and enhanced by a strong social media agenda, consistent and genuine community involvement and engagement, and a customer retention program that keeps existing customers walking through the door.
Think about your company value chain the next time you take your car in for service, buy your $4 coffee, watch an ad for the latest iPhone, or review the sponsor list at a local charity golf tournament. Decide who you want to be in the retail world and build the chain to achieve it. Once you build it, share it over and over again.
The most crucial part of the value chain is communicating it to your community.”
Mike Scarsella is the Northeast Regional Vice President at Golden Technologies, Inc.For more information, visit goldentech.com.
| GOLDENTECH.COM
GOLDEN OPPORTUNITIES
GOLDEN OPPORTUNITIES
2018 Golden Marketing Plan
HOLIDAY SELLING SEASON
PRODUCT SHOWCASE
ADVERTISING FOCUS
CHANGE POP
CHECK LC / SCOOTER INVENTORY
TRADE SHOW
STRATEGIC PLANNING
HOLIDAY SELLING SEASON
PRODUCT SHOWCASE
ADVERTISING FOCUS
CHANGE POP
CHECK LC / SCOOTER INVENTORY
TRADE SHOW
STRATEGIC PLANNING
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18 | GOLDENTECH.COM
In the rocky desert of Temecula, California, situated halfway between San Diego and Los Angeles, we found two amazing individuals. Amy Martinez lost both hands and feet to a sepsis infection. Sgt. William “Billy” Hamlett served multiple tours in Iraq and Afghanistan and lost full use of his legs, suffered traumatic brain injury from a mortar blast, and battles post-traumatic stress disorder (PTSD). Both are parents. Both use Golden Envy Powerchairs in their daily lives. Both use the same Golden Mobility Dealer. Both have been honored by the same community charity organization. Their stories are unique, and we feel they are inspiring in how incredibly courageous they both are fighting the challenges of their new realities.
Courage to EnvyBy Tim Edwin Robinson
TOP: Sgt. “Billy” Hamlett uses the Golden Envy Power Wheelchair to enjoy lake life with family thanks to the help of the National Ability Center in Utah. LEFT: Amy Martinez, on the surfboard, learns about surfing from pro surfer Bethany Hamilton.
19 GOLDENTECH.COM |
Amy MartinezMotivational movement: Envy power chair rewrites young mother’s story of loss
In February 2015, 27 year old Amy Martinez found herself suffering from a kidney stone. Her situation
turned critical and she was placed in a medically induced coma. “When I came to, they said they’d have to amputate both my legs,” she said. They were hoping to save her hands, but a few months later they too were removed. By August 2015, Amy was a quadruple amputee.
The married mother of two young children found herself having to relearn almost everything. “Just things you learned as a kid that became second nature,” she said. Amy, now single, has come to rely strongly on those around her get her through, “I draw my strength from family, friends, and God.”
Choosing prosthetic legs over a power wheelchair from her insurance, Amy quickly realized that she needed both and that prosthetics come with a price: pain. She stopped by Global Medical Supply and really liked the Golden Envy Power Wheelchair. Her family surprised her with one as a Christmas gift. “It’s very easy to break down for those who are traveling with me. It compacts really well,” said Amy. The Envy being very lightweight is extremely helpful.
Amy’s Golden dealer, Jay O’Neil from Global, is involved with non-profit Charity for Charity, which nominated Amy as their 2016 honoree. “She’s an inspiration to the way she approaches life in general,” says Jay. Charity for Charity founder Charity Jane Prestiflippo also ran a fundraiser to pay for $128,000 robotic prosthetic hands that insurance would not cover. In 2017, Sgt. William “Billy” Hamlett was the honoree and is also a fellow Envy user. “My kids loved that we had the same chair.” But as Amy adds, “I don’t do wheelies in my chair like Billy!” They’ve kept in contact and
developed a friendship.Thanks to her robotic hands, Amy
apprecieates the little things she never knew she missed like braiding her daughter’s hair or being able to cut up her kid’s food. She met fitness trainer Bobby Gimenez, who offered to train her at the gym where he works, Inland Valley CrossFit. He created a custom-made CrossFit workout to improve core strength. She says a woman came up to her after seeing her CrossFit videos on Facebook. “She said you inspired me to join a gym the next day,” Amy says beaming. “It helps me keep going too, it’s meaningful,” she added.
Amy is inspired by professional surfer and fellow amputee, Bethany Hamilton, who lost her arm from a shark attack. Hamilton’s story was told in the movie “Soul Surfer.” Amy has been invited multiple times to the “Friends of Bethany Hamilton” retreat for women who’ve lost a limb. She said meeting Bethany and seeing the impact she’s had
on other young women all facing the same challenges had a big impact on her life. “That helped change everything,” Amy says. “It’s nice to know you’re not alone in this journey.” Recently, Amy was a keynote speaker at a Bethany Hamilton event.
Amy hoping to get her driver’s license again after she takes an adaptive driving course. She has a growing following on social media, hopes to one day write a book – and like Bethany – wants to reach out to young girls worried about outward appearances. Amy says she can do many things for herself, through creative innovation, but that’s not what is important to her anymore, “There’s more to you than your outward appearance, it’s a lot about what’s inside and what kind of person you are.”
VIDEO: See Amy’s strength as she tackles the gym to being a single mom, with a smile, grace and faith.
20 | GOLDENTECH.COM
Sergeant William “Billy” Hamlett became a Marine because he wanted to escape the small town
in Georgia where he grew up. “I wanted to serve my country and prove to myself that I can do something to that caliber,” said Billy, now a resident of southern California. After multiple tours of Iraq and Afghanistan, Sgt. Hamlett was left suffering from traumatic brain damage from mortar blasts, countless physical injuries, and the loss of mobility in his left leg.
Billy’s wife, Krystle Hamlett, says, “Eventually his body just gave out from wear and tear.” She can list the countless issues he deals with daily: “memory loss, nerve damage, forearm damage, knee, neck,” but as Krystle says, it was his Achilles heel that took the strong sergeant out of service. “The Achilles rupture is ultimately what put him in a chair.” Billy can’t go or stay under general anesthesia because of his injuries to get the Achilles or anything else repaired. Sgt. Hamlett says when someone asks what happened to him he replies, “I worked myself into the chair.”
When the pain of the injuries combined with memory loss became overwhelming, Krystle became Billy’s full-time caregiver. “When you come back into a civilian world, it’s completely different,” she says. All the fanfare of solider homecomings doesn’t show the lingering effects that could bubble up and carry on for months and even years. Billy was diagnosed with Post-Traumatic Stress Disorder or PTSD. “If one of the kids drops something on the floor, he has a flashback and thinks he’s back overseas,” says Krystle, as she describes how Billy is hyper-aware
of his surroundings. “If we go out to restaurants, Billy has to sit way back in the corner to watch what’s going on.”
It was clear that it is not just physical injuries that Billy struggles with, but the emotional scars of war that haunt him. “The darkest days are when he has flashbacks,” Krystle says and explains that Billy tried to cope with it by using alcohol, which is a common problem of veterans suffering from PTSD. “He tried to numb the pain,” she says. “He would drink every single day.”
Victims of PTSD often end up in a downward spiral that leads to suicide, which is an epidemic from military service that Billy knows first-hand from losing men who served with him. Billy says the signs are tough to spot, “They’ll just be blank.” Luckily for Billy, his wife spotted the signs soon after his homecoming, “It was like living with a robot,” she recalls. With the help of his
therapist and his wife, Billy was able to come to terms with his addiction and how it was affecting the relationships with his son, Wylan now 10, and daughter Alyssa, now 14. After a year-long struggle to sobriety, Krystle says they came through it together, stronger than before, “Now we’re living with someone who’s living—he’s alive, he’s smiling.”
THE GIFT OF INDEPENDENCE Wounded Warrior Family Support offered to buy Billy a manual wheelchair, so they visited Global Medical Supply to pick one out. Billy and Global owner Jay O’Neil—a fellow veteran—instantly hit it off with one another. While in the store, Billy took notice of another hot ride Krystle says, “He started whipping around in the Envy chair and said ‘I wish I could get one of these!’” Jay saw all of this and suggested to the organization
Sgt. “Billy” HamlettDriven to overcome: Golden eases challenges and enriches life for wounded veteran
Jay O’Neill (left), owner of Global Medical Supply with Billy
21 GOLDENTECH.COM |
that Billy would really prefer it over a manual wheelchair and they agreed.
The day Jay delivered the chair, he made sure it was something special. Krystle says, “It was like Christmas, it came with like two bows. The little LiteRider Envy came in and Billy was excited!” It’s a story that makes Billy emotional to recall, “It’s been a long time since someone helped us out like that, so it meant a lot,” Billy says through tears, “It was a life changer, it really was. When you go from sitting on the couch and not being able to go out and do stuff, and that changes overnight by having a chair like this, you can’t express it in words. It was a great day man, it really was.”
Jay O’Neil says Billy credits the Envy power chair for making it possible for him to drop off his daughter at school for the first time in her life. “The chair is an extension of him, he can literately go anywhere,” says Krystle. The maneuverability has been a big help to him but its portability has been an even bigger help for her when transporting it. “I’m just your average stay at home mom. I was able to pick that thing up and put it in,” she says. Billy recently received a new Mobility Works custom van, thanks to donations and a grant from the U.S. Department of Veteran’s Affairs, and he is even more independent. Krystle says, “Now he can just drive right on in.”
“I say ‘chair no care,’ in all of my pictures,” Billy says. “It’s what helps me get out of bed every day.”
Jay from Global also nominated Billy for Charity for Charity, a Temecula, California non-profit organization, and they chose him as their 2017 honoree. Krystle says, “They asked us what we needed, what we would like as a family, and what we were lacking. Billy, the loving father that he is, said we needed a family vacation, we need to get out of the house.” They sent the family to Utah to visit the National Mobility Center to enjoy adaptive sports, including water skiing and a high-wire ability course. On
the way, they also included a stop in Las Vegas to drive super cars.
FREEDOM FROM PAINDriving is Billy’s passion. He owns a 1974 Chevy Nova, named “Maura,” which they worked on as a family for years. At one point, they traded the car for a sand-car for desert driving. A year later, Billy’s body started deteriorating to the point that he could not use his left foot to shift. “So we went back to the gentleman and asked, want to switch back?” says Krystle. “I’m sure that car’s not going anywhere now!” she adds. She also says she was the one to design the engine of the car for its distinct “lope” sound. The car is therapy for Billy. Just looking at it, he says, relieves pain, but driving it makes the pain fade away. “It gives him an adrenaline rush,” Krystle says, “The pain just disappears and he’s able to be free.”
Billy still battles constant pain. A pinched nerve in his neck has driven him to seek pain management treatments, which are not covered by the VA. The out-of-pocket costs for these types of treatments alone are often close to $3,000 a month. The effects of PTSD will also always be with Billy. “Can it be cured? No, there will always be triggers in your life that are unforeseen and no doctor can prepare you for,” said Billy. He tries to keep his mind off the pain in other ways too, like working on the car with his daughter or building remote control cars with his son. “Recently, I found that getting a good solid relationship with my kids has helped out a lot. I was deployed four times in five years, 2003-2008. My daughter was born when I was in Iraq the first time,
and I left on my son’s first birthday to Afghanistan,” he said. Billy has also found a love of collecting fun designer socks. “I do the socks because it allows me to connect with people. I pick my socks out every morning, then the shoes, then everything else,” Billy explains. “It gives me something to focus on.”
“We live minute-by-minute, there’s no day-by-day,” Krystle says. “I can drop something on the ground and he’ll be in a very bad mood for a very long time.” Yet she takes all of this in stride, “He’s doing the best that he can. We know something is going to come up in time, but it’s how we look at it together and push forward,” she adds.
Krystle says Billy’s kids think he’s fearless and that the pain won’t slow him, “We constantly call Billy ‘Captain America,’ because he will get hurt and he will keep going, he’s the Energizer Bunny.”
Despite the challenges he faces, Billy preaches one saying over and over: “Any day on this side of the dirt is a good day.”
Tim Edwin Robinson is the Director of Digital Media for Golden. For more information, visit goldentech.com
VIDEO: Take a ride with Sgt. Billy Hamlett in his prized “Maura” through the California Desert and see how his Envy Powerchair keeps up with his active lifestyle.
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All in the Family: 3rd Generation ReflectionsBy Alyssa Golden
When I was younger I would beg my father, Rich Golden, to let me come to work with
him. I enjoyed running around each department asking employees if they had different colored markers for me to draw on their white boards with. I would ride the scooters around the warehouse, honking the horn as I flew by, and end my day with a nap in a lift chair.
As a 3rd generation Golden, now at the age of 21, I come to Golden no longer asking employees for different colored markers to draw with. I am no longer riding the scooters for fun around the factory, and taking an afternoon nap in a lift chair (well, maybe sometimes!). Instead, this past summer I completed an internship with the marketing department of Golden Technologies. My brother, Rich Golden, Jr., was also working for the accounting department. In just a short amount of time, he and I learned what Golden is really about.
I study music business at Berklee College of Music. While my major and passion is specifically with music, I have been able to incorporate what I’ve learned from Golden to my own studies, and vice versa. As a vocalist, I have to market myself. The way I am presented is important, as well as what I put on social media. At Golden, it is important to consider who we are marketing products for, how we get them out there, and how they are presented. I learned some ways of doing this by writing press releases, coming up with ideas for literature, getting more tech-driven with social
media, and brushing up on communication skills.
While working at Golden, the team felt it was important for me to experience everything hands-on. I visited different dealerships around Pennsylvania and New Jersey, and spoke directly with customers. I admired the interpersonal relations I saw between Golden’s sales reps and dealers. I also got to observe an employee sell a lift chair to an elderly man with his grandson. I saw the decision-making process, as well as the emotional aspects of this product. His wife had just passed recently, and he was mourning her while sitting in the chair. We comforted him and listened to him talk about her and how they had met. I didn’t realize the impact that these products can really have on people, both physically and emotionally.
I was able to see how socially responsible Golden is. We visited the Arc of Northeastern Pennsylvania, which is an organization in Scranton formed for those with intellectual and developmental disabilities. We were able to go on a tour of the Arc and learned more about the organization and the people in it. It warmed my heart as I spotted some Golden lift chairs in the building. I know that our products are going to good use. I was inspired so much by our visit that I volunteered to sing at the Arc.
I have always admired my father’s
energy and dedication to the business. It’s one thing to read about how great companies should be in books such as Good to Great, Guerrilla Marketing, The Lexus and the Olive Tree: Understanding Globalization, etc., and another to really see and experience them in person. I genuinely believe that Golden Technologies is one of these companies. My Dad has the most dedicated, enthusiastic and passionate employees whom I had the privilege of working with during my internship. I am so proud of everything he and his team have built at Golden. As he always says, “We’re just in a bigger garage.”
Alyssa Golden was a marketing intern for Golden. For more information, visit goldentech.com
Daughter and son of CEO, Rich Golden: Alyssa and Rich Golden, Jr.
24 | GOLDENTECH.COM
How to Drive More CustomersBy Chris Carroll
When I walked up to visit a DME dealer’s retail space in a small town near Golden’s
Pennsylvania headquarters, I noticed one of our product posters displayed in the window. On the back side, another Golden poster was attached to some lightweight foam board and suspended from the ceiling to form a two-sided display. That’s just one example of a very simple and resourceful way to not only use marketing materials to make people aware of what you sell, it’s also a great use of some valuable “real estate.”
Here are some suggestions to help drive more customers to your door.
Make a Great First Impression —Too often business owners focus on the marketing materials inside their four walls and don’t pay as much attention to the outside of their retail space. Take a look at the approach to your space and the outside of the building from a new perspective. Imagine you’re a first-time visitor. Can you see your signage clearly from a distance? Can you quickly determine what’s being sold inside?
It’s about more than just a well-kept, physical appearance, retailers need to ensure that well-designed signage is placed in areas where people passing by notice what’s being sold. Consider hanging general banners outside that say, “We Sell Lift Chairs” or “We Sell Scooters and Power Chairs.” Even better, park some products outside in good weather to attract customers. When a customer has a need, you want them to remember you as the go-to place for that solution. And you want
them to be educated about what you sell and impressed before they even walk through the door.
Be Credible—Another often overlooked area of marketing is word of mouth referrals. All the best signage and advertising in the world can’t hold up to a bad reference. Customers become aware of a business from various sources, such as ads, TV and radio commercials, and social media, but what most likely motivates them to buy is when a friend, neighbor or family member backs that up with a few good words about the customer service and quality of products sold there.
Maintain Your Online Presence—The first thing most people do when they hear about a new or interesting business or product is to search for it on Google or Facebook. They read customer reviews and see what’s being posted. Is it positive? Is it engaging? Are their hours and location information up to date? Do they even have a Facebook page? Again, the best advertising can easily be ignored
if a quick online search doesn’t yield much information. Customers have short attention spans, and if your online presence is minimal, they’ll assume that your attention to customer service and product line is minimal, too.
Carry Unique Products—Several retailers in close proximity may carry the same products, but sometimes it’s the little things that differentiate one business from another. Consider adding smaller products to your retail space that aren’t sold in other stores, such as aids to age in place or other devices to improve independence. Become the business that sells the things others do not, and they cross-promote your products. When a first-time customer comes in for something, they will most likely need other related products as well.
Be a solution provider and be the best at what you do!
Chris Carroll is the Director of Marketing for Golden. For more information, visit goldentech.com
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26 | GOLDENTECH.COM
New Sales AvenuesBy Darrell Bradshaw
In today’s retail environment, there’s good news and bad news. The bad news is that retailers are dropping in number and in sales. HME Sales
article shows that “Number of HME Providers are Slipping.” The article says, “From 2013 till July of 2017, the number of HME providers has continued to decline.” Fox Business News stated that retail sales have fallen, and in a separate article, that 19 large retailers are closing hundreds of stores. That’s the bad news! But, the same media that delivered this bad news also states that specialty stores are the most immune from the latest downtrends. So, how do we capitalize on the good news? How do we beat this trend?
First, DME products must be targeted toward more than just the elderly and disabled. Second, we need to widen our horizon to include more demographics. Third, we must make a DME a place to shop, not just a place to buy. Lastly, retail must be more than a buzzword. Retail must become a way of life. So … how do we do that? Let me give you three thoughts to begin down that path.
1 SELL SLEEP CHAIRSLet’s promote the MaxiComfort lift chair for what it is. It is much more than just a lift chair. One thought, let’s brand it as a sleep chair. This takes the Power Cloud, Cloud, DayDreamer, Relaxer, Comforter, Pub Chair and Cirrus from a product aimed just at the elderly and disabled, to anyone with a sleep disorder. If you are selling CPAP, nebulizers, oxygen concentrators, bed wedges, hospital beds, bracing, ambulatory aids, or bathroom safety products, you have customers that would love a sleep chair.
This takes a demographic you are already selling to and makes them see their need for an additional product to enhance their number one therapy—sleep. This also allows you to market to sleep labs, sleep specialists and doctors who treat sleep disorders, as well as advertise to patients with sleep issues or the general public who wants a comfortable “sleep chair.”
“THE GOOD NEWS:Specialty stores are the most immune from the latest downtrends.”
27 GOLDENTECH.COM |
2 SELL MATERNITY CHAIRSRebrand the MaxiComfort chair as a maternity chair. Do you sell breast pumps? If so, you already have a customer coming into your store for a product that leads to a maternity chair. If you don’t sell breast pumps, I will bet you have customers who call or come in for them. It is a product that needs to be on your shelves. If you have breast pumps, consider having a small maternity section with cloth baby diapers, maternity products like prenatal vitamins, or books on child care.
But most of all, before the expectant mother leaves the store, have your sales associate ask this simple question: “How are your grandparents?” Then follow up with: “I’ll bet they are hard to buy gifts for, aren’t they?” Then utilize one of the greatest lines in sales: “Let me show you something I think you’re really gonna love!”
Another ancillary idea is to create a “gift section” for grandparents. Direct the mother-to-be to the reaching aids, bath aids, specialty canes, shoe inserts, lift assist handle for the car, doorknob grips, feeding aids, etc., as gifts for their grandparents. Generally, millennials would love to have help getting gifts for their grandparents. A gift area will help them and bring them back to shop. The idea of a “maternity chair,” also gives you the opportunity to market the new product to OB/GYNs, hospitals and midwives, plus advertise to patients that are currently pregnant and parents and grandparents of expectant mothers.
3 ASK FOR REFERRALSThe last idea to “beat the trend of the retail downturn” is asking for referrals. How many of your sales associates ask your patients/customers, “who do you know?” Who do you know that would like to have a great sleep chair, just like you?” Think about it. Your customer knows more people with “specific life issues” than you do. Why not ask them, who do you know? Asking for referrals is not a one question event. Many times you may need to ask in a couple different ways. • Who do you know that would love a sleep chair/
maternity chair, just like you?• Who do you know that could use a sleep chair/maternity
chair just like you sometime in the near future?
• Do you know anyone who may need a sleep chair/maternity chair either now or sometime in the future?
Whether you are talking about a sleep chair, maternity chair, lift chair, therapy chair, or life chair, you are demonstrating and explaining a chair that is a more than a recliner—it’s a zero gravity chair, a sleep chair, a maternity chair, a therapy chair, a memory button chair, an infinite position chair, and a Trendelenburg chair—all rolled into one with lift assist. Adding it up, your customer is getting $8,000 to $15,000 worth of chairs with all the technology and benefits, combined in one chair, with a lifetime warranty.
Finally, the one thing we can count on is change. The change that is most prevalent to almost every business today is that people are shopping on the internet more now than ever before. To beat this trend, every business will need to broaden their horizons and become much savvier as to how the products they sell fit into the lives of everyday customers.
Today’s shoppers want greater value, better service, and products that are unmatched. You have the ability to demonstrate that value, provide the service, and sell to customers that don’t know these products and services exist.
The only reason some people are not shopping at your stores is that they don’t know about the amazing products you offer and how those products will impact their lives. Retail sales are all about matching up the product to the customer’s need. In today’s business environment, sometimes you have to help customers see a need they don’t know they have. Having a “sleep chair” or a “maternity chair” matches the right product to the right need. Asking for referrals gets your customers to help with the process.
Darrell Bradshaw is the Southeast Regional Vice President for Golden. For more information, visit goldentech.com
“Every business will need to ... become much savvier as to how the products they sell fit into the lives of everyday customers.”
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29 GOLDENTECH.COM |
Developing Customer LoyaltyBy Carl S. Lloyd
Nobody is born great at anything. We all start somewhere, and nobody
learns to walk without flopping face down a few times. Remember that becoming the best at something takes a while. It takes a lot of practice, but also remember that big picture goal is to win and keep customers. So if you stumble along the way, just keep telling your customers you’ll do whatever it takes to earn their trust and keep their business and then … do it!
The obvious yet surprisingly often overlooked reason that repeat business is so important is that having a happy customer return means not having to spend money attracting a new one. Customers who come back are already returning at a premium because there is no acquisition cost associated with their business.
I’ve read that it costs between five to 10 times more to attract a new customer than to retain an existing one. So, economically it makes good sense, and putting together a good retention strategy will also lead to increased customer profitability. So focus on meeting your customer’s needs. That means focusing on profitable product mix, business systems, resources, policies and procedures while delivering a successful customer outcome—each and every time.
So what is the meaning of a repeat customer? “A situation that arises when a customer returns again and again to purchase goods or services from a business. Offering repeat business is the hallmark of a steady customer that
is usually highly valued by businesses that they patronize since they typically require minimal additional marketing efforts to retain.” —BusinessDictionary
TIMES HAVE CHANGEDCustomers have more choices, with more ways of doing business.
New technologies mean customers are far more informed about your products and services than ever before. Through the power of social media, your customers are connected to more resources than at any previous time in history, which means different generations want to interact with businesses in different ways.
THE PAYOFFDecreased cost, enhanced customer service, improved and new revenue opportunities: Imagine your customers saying, “Wow, they took care of everything, they care about me, it was so easy, and they took all the worry away.”
Allocate all resources first to meet and then exceed your target customer’s needs. You’re in the customer experience business whether you know it or not! Get out there and listen to your customer. Let them tell you their story—and in time—you’ll have them coming back for more and will create new referral business in the process.
DEVELOP CUSTOMER INTIMACYGet to know as much about your customers as you can. As you find out different things about each customer, you can tailor your offering to them.
When you focus on customer intimacy, you can anticipate what your customers want, how they want it, when they want it, and most importantly, how you can provide it for them. Over time, this strategy leads to stronger trust and customer loyalty.
There are other associated benefits to fostering a lasting relationship with customers, including the fact that long-term customers are more likely to introduce your business to others via word of mouth recommendation. They’re more likely to purchase other products from you and if they are completely happy with the service they’re getting, they are unlikely to even think about switching to another resource.
REWARDING CUSTOMER LOYALTYTried and tested methods of customer retention also involve rewarding people for their loyalty and giving customers something tangible—a real reason to come back to you. Incentives to return could include add-ons, vouchers, loyalty discounts or cards, special pricing, bonuses or gifts.Above all, keeping customers happy should mean that actions speak louder than words. A proven—rather than promised—commitment will put you way ahead of the competition.
Carl S. Lloyd is the Western Regional Vice President for Golden. For more information, visit goldentech.com
30 | GOLDENTECH.COM
CONSUMER FINANCING SOLUTION:
Essential Equipment within Reach By CareCredit
With rising insurance premiums, increasing deductibles, and continual growth in out-of-pocket costs across the board, consumers
today may face severely strained budgets when it comes to healthcare purchases. For items like lift chairs, power chairs, scooters, and other home medical equipment, this financial crunch can be especially troubling.
Even for individuals with insurance plans that cover equipment and supplies, coverage may be restricted to certain brands, providers, or products. When a product does qualify for reimbursement, the amount covered may fall well short of the total cost, leaving consumers with a difficult dilemma: opt for an alternate product (which may be significantly less effective or appealing), or pay for the difference (which is often a substantial sum) out of pocket.
For businesses that sell DME, the impact of this financial pressure can be just as problematic. Budget and coverage limitations can be a major barrier to helping customers get the best products for their needs. At best, awareness of these constraints may limit the range of options a salesperson presents, even when other items might offer superior quality, comfort, or effectiveness. Even worse, a consultation could conclude with a customer thrilled at having found an ideal product, only to learn that he or she does not have the cash on hand to purchase it. In some cases, it may be possible to choose a less costly product instead. Far too often, the customer and the salesperson both have no choice but to walk away empty-handed, frustrated, and back to square one.
Fortunately, there is another way.Today’s DME dealers are beginning to discover the benefits of offering their customers dedicated financing to help cover the costs of purchase. This concept is not new. Private label credit cards and promotional financing have long been a staple in many retail sectors, especially for high-ticket items like furniture, appliances, jewelry, power sports, and home improvement. In healthcare, practices in some specialties (e.g., orthodontia, cosmetic surgery) offer financing directly as well as third-party financing, allowing patients to pay over time for high-cost or long-term treatments.
Financing is also an excellent option for equipment dealers—offering customers a dedicated line of credit and promotional financing, to cover costs associated with health, wellness, and personal care. CareCredit pioneered this solution 30 years ago, and today the company serves more than 10 million cardholders who can draw on $30 billion in spending power to get the products and services they want and need at more than 200,000 enrolled provider and participating retail locations.
The way CareCredit works is both simple and effective. Customers can apply for a CareCredit credit card at a provider or retail location, or by calling or going online. Application decisions are provided instantly, and approved cardholders can use their credit to make purchases right away. For higher-value purchases, cardholders may be able to use promotional financing offers to pay over time, taking 6, 12, or 18 months—or longer. In either case, the business or practice receives payment in just two days.
It’s easy to get started with CareCredit. As the approved financing solution provider for Golden Technologies, CareCredit is also a perfect partner to support dealers who want to help more customers get more and better products to meet their needs, as well as offering an appealing new benefit that can help differentiate your business from competitors.
Call to enroll today—and say you were referred by Golden Technologies!
To learn more or get started with CareCredit today call 877-375-8069, or visit carecredit.com/2017
CareCredit is a health, wellness, and personal care credit card that gives customers an easy way to get the products they want and need, and pay over time for costs not covered by insurance.* CareCredit has 10.5 million cardholders with more than $30 billion in available credit, and is accepted at 200,000 enrolled locations. You get paid in two business days, helping you achieve your business goals.
Call to enroll today—and say you were referred by Golden Technologies!*Subject to credit approval.
CALL 877.375.8069 | VISIT www.carecredit.com/2017
CUSTOMERS.
32 | GOLDENTECH.COM
Sweet ProfitsBy John Smid
It can’t be denied—the DME industry, over the past 10 years, has been handed a whole lot of
“lemons.” It’s been one reimbursement cut after another. And categories that used to bring healthy profits are now lucky to break even and that’s only if you’ve become so lean internally that you aren’t sure how you can continue. There are some really wise words in a really old saying—it starts something like “when life gives you lemons …”
I challenge the following: Reimbursement rates aside, our customers have continued to grow over these past 10 years. They are growing at a faster rate today than ever before. How about this little fact—10,000 people turned 65 TODAY! And it’s not only that we have more people breaking into that magic demographic, these people have more money than any group before them. Because of all the improvements in medicine, we’re all living longer. Because of the past 10 years of Medicare cuts, everyone is realizing that their “benefits” are no longer as “all inclusive” as they may have once thought. Simply put—baby boomers will pay for the things they want and need – it’s not a theory, it’s a proven fact.
Let’s get back to this “when life gives you lemons” thought. Let’s take a few categories for which we will always have consumers walking through the door. In most cases, these categories have become as much as 50% less profitable over just the past two or three years. • Walkers • Raised toilet seat• Bath bench• Compression stockings
• Hospital beds• Knee walkers• Oxygen• CPAP
So, there are your “lemons.” What are you going to do with them? Every single one of those customers has several needs that can relate to items that aren’t even listed above. One common item? LIFT CHAIRS. High margin, high dollar RETAIL items. Are you targeting your “lemons” and turning them into lemonade? Or are you letting those lemons just walk in and walk out your door?
Here’s the math—that walker/rollator customer will reimburse at somewhere around $50. Subtract your acquisition cost and overhead (billing, etc.), maybe break even and you supplied a product you’re probably not proud to put your business name on. That exact same customer needs a lift chair! Again, math —a MaxiComfort Cloud lift chair, in a standard fabric,
sold at MAP, will bring a profit of $861. SAME CUSTOMER. And what else could they use?
Now, the exercise—take the top 10 categories in your current business model from a traffic driving perspective, and MAKE LEMONADE. Your Golden Technologies business partner would love to help with this! From identification to education, use the team of professionals who have your business’s best interest at heart.
Your retail business partners should be bringing you products that MAKE YOU MONEY—not save you money. Use their knowledge and understanding of the markets and the industry to help you GROW your business. Because, at the end of a hard day, who wouldn’t like to sit on the front porch and enjoy a nice, tall, cool glass of … PROFIT DOLLARS!!!
John Smid is the Midwest Regional Vice President for Golden. For more information, visit goldentech.com
1 GOLDENTECH.COM |
Rich and Christine Golden surrounded by friends and members of the Golden Team
Left to Right: Chris Bedwick, Board Chairperson of Junior Achievement of Northeastern Pennsylvania; Rich Golden, CEO of Golden Technologies, Entrepreneur of the Year; and Christine Golden, Rich’s wife.
Rich Golden pictured at podium
“I attribute the tremendous growth
and success of Golden Technologies
to the continued hard work and
determination of our employees,
many of whom have been with us for
a very long time,” said Rich Golden,
CEO. “We’re just in a bigger garage.”
Congratulations, Rich!
Watch our tribute video.
See more good things CAR AND DRIVER had to say about the Buzzaround EX.