Monthly Internet Newsletter             Florida Tile, Inc.,    1 Sikes Blvd.,   Lakeland,   Florida  33815         November, 2003

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Installation of the Month

FTI Announces

Product of the Month
 

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2003 New Products
SeaGlass
RetroClassic
MetroFusion
Playful
PietraArt
Tuscania
Vessel Art
Vitra Art

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Research shows that existing customers are five to ten times more likely to buy from you than people who have never bought from you before. Research also shows that it costs up to ten times more to acquire new customers than to sell to existing ones. But despite the numbers, it's the new accounts that always get the attention. Why? "Because it's glamorous. It's fun," says Robert W. Bly, author of Fool-Proof Marketing: 15 Winning Methods for Selling Any Product or Service in Any Economy (John Wiley & Sons, 2002).
In a tough economy, though, salespeople need to look for meat and potatoes, not glamour. And, Bly says, one of the most overlooked sources of revenue is dormant accounts. "There is a small fortune locked up in your dormant customers," explains Bly. "Reactivating those inactive accounts is one of the easiest, quickest ways to reenergize your business during a downturn, bring in new orders and increase revenues."
Bly has separated the process of reactivating dormant accounts into four methods. The first and most basic is recontacting. Simply by getting back in touch with previous customers, you can remind them of your existence and stimulate them to order from you again. The quickest and easiest way to make sure you keep in touch with your client base, says Bly, is via Internet automation, whereby you create a permission-based database and regularly email your contacts.
The second method is reselling. With this approach you get in touch with inactive customers and determine why they are no longer purchasing from you. Then you address their objections in the appropriate manner, much as you would with a new prospect who's hesitating. According to Bly, the basic conversation is the same one you would have with a new customer: you identify needs and objections and position your product or service accordingly.
Bly's third approach is cross selling. Sometimes, simply raising awareness among existing customers regarding your full product line can be enough to win a sale. When cross selling, remember that you're performing a service for your customers by offering them additional products, particularly if those products work in a synergistic way with the items your customers already own. Finally, Bly suggests up selling, where you offer your customer "bigger volume discounts, more options, the deluxe model or premium service levels based on past buying habits," Bly explains.
When it comes to customers, Bly suggests that salespeople look beyond the immediate sale. By transforming an inactive customer into an active one, he says, you're "extending their lifetime customer value to your business."

Copyright 2003 by Personal Selling Power Inc. Reprinted by permission of the publisher.                                                         

Installation of the Month Photo Contest

We offer one grand prize of $200.00 for the best installation photo that we received during the month.

Here is our November, 2003 winner:

Installation consists of

       Floor - Vacanza - Volterra 13x13
       Wall- Vacanza - Firenze 8x13 with deco shell and 2x2 inserts and Panna chair rail.

Installation submitted by:
 
Rustic Floor Covering in Colorado Springs.

The project details are as follows:
       Radisson Hotel - Colorado Springs Airport

  The installations will be rated on design, use of Florida Tile, and style.

►MMP Capital Partners Acquires Florida Tile, Inc. from Illinois Tool Works, Inc.

 Washington, DC (November 7, 2003) – MMP Capital Partners, L.P., an affiliate of the Washington DC-based Milestone Merchant Partners, L.L.C., announced the purchase of Florida Tile, Inc. from Illinois Tool Works, Inc.

 “We are very pleased to conclude this purchase and enthusiastic about the Florida Tile brand.  With  a long history of excellent customer service and innovative design, we believe that Florida Tile has  a bright future as a standalone company,” said Murry N. Gunty,  Managing Director of MMP Capital Partners.

 Matthew Galvez, a Managing Director of Milestone, was named President and Chief Executive Officer of Florida Tile, while Scott Fullerton was named Chief Operating Officer.  “Florida Tile has long been a leader in the industry with one of the best brand names in the business, and Milestone is thrilled to be in a position to help the company become stronger, both strategically and financially,” said Galvez. COO Fullerton added, “I believe that the new combination of Florida Tile’s strengths and Milestone’s financial and operational expertise makes this an excellent opportunity that will benefit our customers and partners in the industry”.  The new executive team plans to work closely with the existing Florida Tile management team to maintain and grow the Company’s position in the industry.

 Founded in 1954, Florida Tile will celebrate its 50^th anniversary under their new parent, Milestone Partners.  Florida Tile is the second largest manufacturer and distributor of ceramic wall and floor tile in the United States.  The Company’s ceramic floor, wall, trim, and natural stone lines are designed for the residential and commercial markets. The Company distributes its products through a network of independent distributors and 36 company-operated stores.  In 1999, Illinois Tool Works acquired Florida Tile by merger with Premark International, Inc.  The Company’s corporate headquarters and manufacturing facility are located in Lakeland, Florida with manufacturing facilities in Lawrenceburg, Kentucky and Shannon, Georgia.

If you are a distributor of Florida Tile or purchase from our Florida Tile Ceramic Centers, please contact your Sales Representatives for new Lockbox information.

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