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How To Have A Successful Retail Sales Event
In the 30-plus years I spent working in advertising and marketing, one of the most frequently asked questions I got from retailers was "how can I make sure I have successful sale?" While there are no hard and fast answers to this question, there are some guidelines you can follow to maximize your chances of that sale being successful. First, if your store is in an area with fairly frequent rains (or snows), do not, and I mean, do not have a one-day sale. You put in a lot of work preparing for and advertising a sale and what could be more depressing than sitting in your store for 12 hours on your sale day watching the rain come down and no customers come in? Second, make the sale a legitimate one. We have one chain of department stores here that has so many sales, we often wonder what its prices would really be during a non-sale week. If you really are clearing out old inventory, don't be afraid to say so. Don't have a moving or going out of business sale unless you really are moving or going out of business. If you have genuine markdowns, feature them. Titles like Carnival of Values, Red Tag Sale or Bargain Days are pretty much clichés and should be avoided unless you just can't do any better. People are getting to be very sharp buyers and can usually tell the different between a real bargain and a "sale bargain." Your competition today isn't a store across town that sells the same things you do. It's sources on the Internet like eBay, Overstock.com, and Amazon.com. How can you beat these Goliaths? There's only one way I can think of and that's personal service. You might not be able to sell your merchandise cheaper than Amazon.com or Overstock.com, but you can treat customers like royalty and everybody likes to be treated as if they were someone special. Keep track of your customers' names and addresses so that you can send them special offers, a thank you note for shopping with you or, depending on the nature of your store, a newsletter. In this same vein, I also like to see retailers give customers an extra- special reason to come in the store. Free giveaways are powerful even if they seem tired. Try offering something free to the first 25 or 50 customers to give people a reason to come in the story early. It doesn't have to be anything expensive; people love to get free stuff even if it has little value. If your business is antiques and collectibles, maybe there is an inexpensive "super wax for furniture" you could give the first 25 customers. If yours is a jewelry store, how about free silver polish? A tire store could offer a free tire gauge. Or if you own a liquor store, how about a booklet of drink recipes? And so on. So far as advertising is concerned, you will want to run ads a couple of days in advance of the sale and you should buys as large an ad as you can possibly afford. I have seen too many retailers cheap out with small ads that are barely noticeable and then wonder where the customers are. In fact, given a small ad budget, I feel it's better to run only one big ad the day before your sale than two or three small ads. Following these suggestions won't guarantee a successful sale but it will help ensure your next sale goes great! Douglas Hanna Article by Douglas Hanna. Douglas is a retired advertising and marketing executive and long-time Denver resident. He is the webmaster of http://www.all-in-one-info.com, a free resource for information on a variety of subjects. Please visit his site to subscribe to his free newsletter, "Tips & Tricks to Save Money & Live Better."
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Careers and Employment How to Beat the 80/20 Rule in Sales Performance -- Part 2 Another key reason why companies suffer from 80/20 performance is their processes for hiring, training and managing salespeople rely almost entirely upon subjective information. Think about it: What are resumes? They are an individual's subjective portrayal of their capabilities and experiences. The Effective Executive What does it mean to be an "effective executive"? Well very simply it means achieving the goals you set out to achieve in an efficient, creative and effortless manner. Some of the benefits that ensue from this self efficacy are: feelings of self confidence, self esteem, self worth, a sense of personal empowerment, feeling invigorated and passionate about everything you choose to do, a sense of resilience, more energy, personal emotional and physical health and for some a great sense of purpose. 6 Common Mistakes in the Sales Hiring Process Is lack of sales results, more sales training costs, months of unearned salary and damage to your company's image or reputation your company's method of NOT finding good salespeople? For most companies it is! Online Sales: Secret To Increase Your Sales By Bundling Your Products Microsoft has used this online sales secret to become a giant, and the greatest software company in the world. Sales Forecasting For New Businesses Sales forecasting is the process of organizing and analysing information in a way that makes it possible to estimate what your sales will be. This Micro Module outlines some simple methods of forecasting sales using easy to find data. Books containing simple and sophisticated techniques of forecasting sales can be found in libraries and business oriented book stores. 14 Top Lead Generation Tactics According to former Harvard Business School professor David Maister, typical marketing practices are not only inapplicable for professional service firms, but they may be dangerously wrong. Do You Know How to Fire Up Your Sales Staff (When Money Isnt Everything)? Money is the only thing that motivates a salesperson, right? Well, maybe it is time to give your sales staff a little more credit. Sex, Drugs, & Rock-n-Roll at Trade Shows Here's the Scenario... Sacking Clients: Brand Power Wheel Remember in the last message we talked about your directional pipeline and how sometimes you'll be approached by prospects who just don't fit with what you want to achieve? We looked at the different types of prospect - Desperate, Curious, and Inspired. Moving a Business Relationship from Free to Fee: Turning Strangers to Friends with Power of Freebies In the last issue I shared with you a technique for getting permission to follow up with people who have seen you speak on stage. This was just one example of a tactic for filling your pipeline. Investing in Your Sales Team While there's no easy answer to this question, there are a few basic points, known as the Training Discrepancy Model, which illustrate key areas that must be targeted for your company's training investment to be 100% effective. The Hardest Job Of A Trade Show You've heard this before: There were four people named Everybody, Somebody, Anybody and Nobody. The Four ?D?s of Sales Management Recently I stumbled across some notes that I had kept from a project I had been involved in which involved looking at manager behaviours. The aim of this project was to identify "preferred behaviours" in sales managers when they were working closely with their sales representatives. The outputs were interesting and helped my colleagues identify four main types of sales managers and the differences between effective and ineffective behaviours. Generous Donor Refused (how qualified business slipped away) Generous Donor Refused Snowflakes Improve Holiday Sales Snowflakes are beautiful! Management From Within Inspiration and Management from Within Part 2. 3 Ways to Increase Your Sales Last week I got a call from Jose, who was looking for help improving his ads. He'd been running the same ad in four local papers for two months and only gotten one response. He was understandably frustrated. With more than a dozen very satisfied clients, he knows that the residential property management services he and his brother provide should interest more people, but he wasn't having any success getting attention or generating leads. 4 Marketing Myths Threaten Your Sales These 4 marketing myths can cause you to lose sales if you base your marketing decisions on them. But the related marketing tips I included with each myth will boost your sales if you act on them instead. Free to Succeed: Effective Sales Leadership Using A Coach Approach About 2 years ago, I participated in a training program I'll never forget. The leader divided us into two teams. Each team's task was to fire a whack of darts into each number on a dartboard. The leader of Team A was given instructions that his team had to hit the numbers in a certain sequence. He then related the sequence, number by number, to his team. The Achilles Heel of Management Coaching While heading home at day's end, you begin reflecting on a coaching meeting you had earlier that day with an employee, Chris. You hope that, this time, you finally succeeded in getting her to understand the importance of spending less time in disruptive socializing in the office and more time elevating her performance. If not, you feel that your only remaining alternatives are to give her a poor performance evaluation or demotion or may even fire her. You're reluctant to do either of the first two things because you know these would disrupt the positive work relationship you've had with Chris. And you don't really want to fire her. On the other hand, you are running out of patience; this is the fourth time you've said something to Chris about the situation. Admittedly, the first few times, your comments may have missed the mark because you gave her only some casual feedback. But about a month ago, you held a formal coaching meeting with Chris, in which you discussed the situation in depth and came away thinking that she understood the need to change her behavior. In fact, she did change. But after a week or so, she was back to her old behavior.
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