Promotions On A Budget
Tuesday, September 8, 2015
Dealers Weigh In With Their Best Ideas
There’s no better way to bring customers into your store or move product off your shelves than with promotions. However, promotions can be a killer for small businesses with tight margins. So how do you maintain the delicate equilibrium of selling product while managing to make a profit? I’ve gathered information from dealers across the nation who shared their best tips and ideas on how you can offer promotions without going into the red.
Social Media is Mecca
What do Facebook, Twitter, Instagram and Pinterest all have in common? They’re free. The Internet is the crux of all low-budget promotional ideas. But you have to know your audience and do a little digging to find your customers. Facebook or Twitter pages for local events are a gold mine for finding future customers. Is there a home show going on? A beer festival where you might demo some products? Look at any event and find a way to partner. A women-only networking event looking for sponsors may be a great place to showcase your newest line of connected smokers.
Pro Tip: James Burnes of Burnes Do It Center says he hosted a Ladies’ Night at his store and promoted it via social media and postcards. The store was packed and it cost him almost nothing to promote.
Be Strategic About Sales
If you own a small business, 50 percent off is your kryptonite. Without the volume, there’s no way to make up the difference. So what’s a dealer to do? Every time you go to mark an item down or hold a sale, ask yourself two questions. First: Do I plan to order any more of these? Second: Will I sell any of these within the next three months? In other words, only two types of products should ever go on sale – those that you don’t plan to repurchase, and those that are out of season.
Demos
Demonstrations are one of the most cost effective ways to move products. If you’re a dealer, make a weekly or monthly habit out of grilling your lunch and the lunch for staff and customers. The smell of sizzling steaks, hamburgers and brats are one of the easiest ways to bring people into your store, and conversation flows more easily around bites of delicious food.
Consider A Frequent Flyer Program
Customers who make a significant number of purchases at your store are practically family – so it makes sense that they should be rewarded like family. A standard punch card is fairly inexpensive to print, and will encourage your guests to keep coming back.
Get Out There
Become more than just a store; become a community leader. Build your showroom’s image by supporting local endeavors. If there’s a local event or philanthropy, get involved. That’s what being a small business owner is all about.
The Good Ol’ Fashioned Telephone
One of the best things you can do after selling a product is to check in with your client. Especially if they made a substantial purchase, touch base with them to make sure the installation process went smoothly and that the newest addition to their home meets their expectations.
Many dealers find that offering free assembly with items such as grills can push a “maybe” into an “Okay, ring it up.” A simple call or visit can lead to goodwill and future sales. Sure, not everyone is going to make a second purchase from your store, but personalizing the process as much as possible will differentiate your store from big-name retailers and help with word-of-mouth business.
Update, Update, Update
This last one is less a promotion and more of a caution. In today’s online world, I can’t stress enough how important it is to keep your website and social media pages up-to-date. If you have holiday hours, or will be closed for the weekend, make sure your customers know about it. Nothing is more frustrating than pulling up to a big “closed” sign when your online presence indicated you were open.
At the end of the day, your expertise as a dealer will allow your customers to make better purchases than they would have made if they had gone to a huge store with thousands of products and far too many rushed employees. First, however, you need to get people in your door – either online or physically. An editorial calendar filled with scheduled promotions will help you do just that.
Keep Grilling,
Rob