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How to market/increase business of a pawn shop?

Discussion in 'Offline Marketing' started by element_of_0ne, Aug 8, 2012.

  1. element_of_0ne

    element_of_0ne Junior Member

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    Ive been working at a pawn shop that is dabbling in amazon selling. I'm working to blow up sales and loans by double. Any ideas on how to increase business?
     
  2. steelballs

    steelballs BANNED BANNED

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    Where is the actual location of the pawn shop which city or town
     
  3. seoguy81

    seoguy81 Senior Member

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    Yahoo/Google local business listing is one place to look into.not sure where you are from, but you might have heard of the series Pawn stars, perhaps you could build a good twitter community, riding on this aspect. Maybe you should also be looking at some local advertising, especially pushing the 'Need cash' message.
     
  4. element_of_0ne

    element_of_0ne Junior Member

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    Thanks for the replies guys. The shop is located downtown in a city of about 70k in Canada.
     
  5. kebertt

    kebertt Junior Member

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    You could always go to direct mail route if you've got the cash to spend - otherwise I'd look into advertising on local websites and increase the SEO for local keywords
     
  6. element_of_0ne

    element_of_0ne Junior Member

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    Thanks. Anyone else?
     
  7. YoungGuns

    YoungGuns Regular Member Premium Member

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    Create a payday loan CPA offer?
     
  8. poweronics

    poweronics Jr. VIP Jr. VIP Premium Member

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    I would recommend using sms marketing for the local residents of that city.
     
  9. hawgbert

    hawgbert Jr. VIP Jr. VIP Premium Member

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    Is it the selling part or the purchasing part of the business that needs a boost? Small classified ads or e-mails to Craigslist sellers (particularly of estate sales) might help you find inventory.
     
  10. minx2012

    minx2012 Newbie

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    Are you already doing flyers? Go to areas where foreclosures are happening or where real estate prices have dropped alot. You could put flyers in houses, targetting people who find themselves under extreme and unexpected financial pressure. Most people don't know how to pawn or where to pawn.

    Also, depending on merchandise you could try to target what you have to customers who are willing to pay a premium for a particular type of merchandise, e.g., art deco items or old books, etc. etc.
     
  11. CageyVet

    CageyVet Newbie

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    First off, make sure they have all of the normal online bases covers....Google Local, major directories(yelp, local directory etc), page 1 for the major local keywords. These are all static properties that are the normal for local searches looking for local services. All of this would be for keywords around pawn shop in local city plus the major sale items.

    Since most these online locations are driven by positive reviews...start up a in store review system for them so that customers leave an honest review on a small card that the shop can utilize online and offline. In that review system, throw in some marketing questions like, "where do you normally look when trying to find a pawn shop for X or Y" and Would you ever consider looking X-here-Y for x service/product that the pawn shop delivers(like loans, etc). This way you get reviews for google local, plus you get to get some true customer feedback that can help you figure out where to help market. The best marketing advice is directly from the customers themselves.

    Next I would look at some local loan keywords, payday loans, cash advances, cash loans etc because in most canadian cities of that size, no one is targeting those keywords at all and if they are it was pre-panda/penguin so they are no where to be found anymore.

    After that, I would sit down with the pawn shop and work with them to figure out what "ITEMS" that they sell are things that people do not think of a pawn shop when looking to buy that item but the item is a great deal from a pawn shop. I know that in Calgary, Alberta, ski/snowboard equipment are great deals at pawn shops but not many people think to find them there due to the stigma of a pawn shop. Then creating a flyer based marketing plan that promotes those items that are great deals for buyers and sellers. The flyer plan should be targeting locations that perspective buyers of those items are, (for ski/snowboard stuff, look at skate parks, ski hills, music events etc).

    Last quick marketing idea that I know has worked for pawn shops. Find the local high traffic locations and setup a Roaming Pawn Shop Booth(find out from province and city for business permits required). This is similar to the roaming Food Trucks idea, which is...when it is hard to have customers find you in the sea of competitors....switch it up and go to where you potential customers are going to be. Then have some of the great high ticket items and some odd/interesting items that make for easy conversation available on your mobile pawn shop. Then work with them to have a good marketing funnel when they are roaming around to help them sell both their items, their business of helping people save money on great items and helping people that need quick cash with their loans/pawn services. If it takes off in your city, you can add a social media campaign like food trucks do...so people follow the shop on social media to be able to know where and when the mobile pawn shop will show up.
     
  12. stratocentric

    stratocentric Junior Member

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    I used to work in a pawn shop a long time ago. You have to find out what kind of shopping cart they are using currently and their method for getting products online. Make sure your data is easy to transfer to Ebay, Etsy etc.

    All the products in pawnshop fronts are because they made bad loans. They want people to come back and pick the stuff up which is why they loan so little on any individual item.

    Marketing ideas could include category related newsletters that show the latest stuff available. Maybe push the idea that you hold products for online customers for an extra 3 days before it goes out on the shelf. (you have to wait until the agreement for the loan has expired obviously)

    Have the store clerks ask anyone in the shop if they would like to receive advance notice (72 hours) of items coming out of pawn before they go public in order to build up a list.

    Also, let customers that sign up to the list put in a request for certain types of items, as a lot of collectors search pawn shops and a particular item's value won't be readily available by searching the Ebay sales reports...

    Post ads in the garage sale section for a $2,4,6 day where all items out front are those prices (check the local laws as they are regulated on a lot of matters similar to banks)

    Combine a free music lesson from a local pro with the guitars hanging on the wall.

    Give away a ticket to the rock concert for the people that buy a guitar that month...mention it all over facebook along with a ticket offer.

    Sponsor a saddest story contest (with a good prize) for blokes that had their lady say no and want to sell their ring.

    ETC.
     
  13. stratocentric

    stratocentric Junior Member

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    Also, pawn shops always have a lot of tools, so make sure you send information to the plumbing, hvac, auto mechanic schools and let them know that you have a source for them to build their collection.
     
  14. thewizardofcroz

    thewizardofcroz Newbie

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    I actually worked for a pawnshop where a large parts of its sales came from ebay.
     
  15. plessard

    plessard Newbie

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    you can get significant traction the local sites like kijiji just have to post on a regular basis for both buy and sell. At this time of year demand will be crazy.
     
  16. blackieman

    blackieman Power Member

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    Start Facebook fan page and post interesting items there [picture]. They would become viral. Don't underestimate Facebook, specially since you have a lot of interesting stuff, or stories.
     
  17. dbald

    dbald Newbie

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    My best answer for you is read what every one has to say and take it into consideration. Personally I would not stop at just amazon. I would use every marketplace possible. eBay, twitter, facebook, Craigslist, etc.

    To attract items to your pawn shop one needs to reach the community. Craigslist ads can be made saying "WILL PAY CASH FOR ANY ITEM AT ANYTIME!!!!" Things that will cash peoples attention. Especially coming up around Christmas time, people need cash quick and are willing to part with things at a lower rate then they would have expected.

    When selling items you want to attack every market place head on. Like I said above, do not just use one market place, Amazon. Ironically I have found amazon to be the hardest market place to sell items. I think this is because every time you click on an item to buy it there is another link to the same item with cheaper pricing. On January 3rd there is a new app coming out that will combine every buy/sell website out there. Be on the look out for SellSimple! It is based in the United States and I do not know if it will be open international on launch day. You can Google SellSimple to find out more information. They only take 5% final sale fee too, unlike eBay's staggering 9%

    Best of luck!