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What Walmart Taught Me About Marketing

I took a trip to Walmart recently. While I was there I wondered how it was they became so successful.

I’ve known for a long time that Sam Walton was a marketing genius and a very hard working guy.

But Sam’s been gone a long time, and Walmart continues to grow and prosper.

So I spent a few minutes watching and observing.

How does Walmart prosper in any economy?

I observed three core reasons.

1 – Low Prices

This, of course, is Wal-Mart’s claim to fame. While many retailers make “low prices” their watchword, Walmart has made it a brand.

Everyone knows Wal-Mart has the lowest price on almost anything. We just know it must be true.

Walmart = low prices, right?

Not always, but boy do they do a great job of selling you that it is true.

When Sam Walton started the company, his focus was lower prices, period.

Sure, he was friendly and that was good for business. But it was peoples’ pocketbooks that kept them coming back, and he was smart enough to know it.

Everyone wants to save money. Don’t you?

No doubt about it – Having an attractive price gives you an instant edge.

Question: Is your price better than your competitor’s price?

If so, say that in your headline and in your sales letter too, then watch as sales increase.

If not, focus your selling copy around the value you deliver to justify the price you do charge.

2 – Huge Selection

The next thing that Wal-Mart does right is offer you a huge selection. This is no accident.

They know that keeping you in the store longer means a bigger average ticket, and that is their goal.

This has huge implications for website owners. The longer we keep people on our site, the more relationship we can build.

And online, relationship is everything.

Even if a person didn’t enter Walmart with the intention to browse, they’ will be confronted with good deals and interesting offers in the process of getting to the item they’re looking for.

All those tantalizing options pull customers in. They make customers buy more.

Question: Does your site offer enough information to keep visitors’ attention long enough to make the sale?

One way to answer this question is to look at your site’s conversion rates.

Using a service like Google Analytics, or Clicky (I use both) it’s easy to see how long people stay on your site.

How long do people spend on your site before they click away?

If conversion is low and people are leaving immediately upon arriving, consider adding more to your site to draw them in.

If you don’t want to add more items to sell, you can still add more content (audio, video, photos) to pique the customer’s interest.

Here are three ideas for adding more content quickly and easily.

  1. Curate articles from other sites that will help your readers.
  2. Share videos from YouTube that educate, inspire and entertain.
  3. Share content from Twitter or Pinterest that add value to your reader.

The more tantalizing content you have, the more likely they are to stick around and ultimately purchase something from you.

3 – Strong Guarantee

People want to feel comfortable when shopping.

They want to feel safe.

Wal-Mart knows this and takes full advantage of it with their very strong guarantee policy, and a customer service center located where everyone can see it.

At one time, Sears owned this space in the customers’ mind with their slogan “Satisfaction Guaranteed.”

Sears was at the top.

But they didn’t keep up with Wal-Mart’s competitive prices or selection policies, and they declined.

Please don’t get me wrong, I like Sears. Always have. But when is the last time you were in a Sears store? For me, it’s been a while. Yet I go to Walmart (which I don’t enjoy as much) more often than I do Sears.

A strong guarantee has been studied many times online, and the conclusion is unquestionable.

The stronger the guarantee, the more sales you will make.

Whether you use one of those big gold buttons, or a box, or just a big headline-like phrase, be sure to let your visitor know they are safe buying from you.

And be sure to restate that very near your order button, too.

Make sure they can’t miss it.

Our sites can be wildly successful without becoming a household name if we learn from Walmart’s example.

There you have it… three simple things that can make your site more powerful and profitable than ever before.

Do those things, and watch as sales start pouring in.

Charlie Page Signature

 

 

Question: What is the #1 reason you buy products from the sites you like and trust? Is it price, or something completely different?

Leave a comment below to join the discussion.

Charlie Page
 

Happily married for 43 years, Charlie is the dad to two wonderful daughters. He is the author of 12 books on Internet marketing and creator of over 15 membership sites. You can see all Charlie offers using this link Click Here

Click Here to Leave a Comment Below 8 comments
Wayne

Yes, you are right there, Charlie.

But one thing: In Canada, there was a store so loved by the community – Biway,

and it’s gone!

How long do you think Wall Mart will survive? The economy needs them now, but what about if the Canadian economy starts to rise, and people decide a change of heart.

So the price we are talking about is really Inflation and people have no choice but to go “cheapo”.

Thanks again,

Wayne.

Reply
    Charlie Page

    Hi Wayne,

    I respectfully disagree. WalMart has made an art of appealing to the public in good times and bad. They carry top brands for less, which appeals in any economy, and items with lower prices and less-known names.

    I think value will always be in demand, and WalMart is excellent at value selling.

    Thank you for your insights.

    Charlie

    Reply
ALFRED

Bestmoneymakingweb does not make that much money as Walmart, but has for sure some products better than Walmart. At least as I see it.

Reply
» What Big Box Retail Stores Taught Me About Marketing Online

[…] See his original article by clicking here […]

Reply
Kade Francis

I usually do a search of the company that has the site to determine the credibility and weather or not there is a promotion on the site.

Reply
Mark Mansfield

Hey Charlie, yes Walmart do do well, but it is very hard to get to that point in internet marketing. This post is like all the others Charlie, very good, easy to read and helpful. Thanks Mark M

Reply
Rick Marlin

I owned a Manufacturing and a import company and sold to Walmart, Target, Home Depot Lowes, JC Penny and many more. Walmart was the Toughest. They beat vendors to a pulp, they were hi tech with their own state of the art satellite system. I had a meeting with Sam Walton at the Days Inn in Bentonville, Ak. He was not flashy with his 200 buck suit and Walmart shoes and he expected the same of his corporate associates.

Reply
    Charlie Page

    Walmart has always been known as being tough on vendors. But, if you do get in, the volumes can be amazing from what I hear.

    Thanks for sharing.

    Reply

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