So today is July 15th and it's Amazon Prime day, declared a day with better deals than Black Friday. I took a peek, and so far it's pretty good.
Marketing yourself and your business is one of the most important parts of owning a business.
It can also be one of the most challenging.
Throughout the next few months I'll outline a few strategies that will help your marketing and help you build a successful business.
Networking, marketing, and selling; things we do every day as business owners.
Do you sell like an ostrich?
First I wanted to share a commercial that I saw recently for stride gum.
How do you come up for the price of your service?
As the adage goes : People do business with people that they like, know and trust.
As you know, I talk a lot about strategy. What your business is, what it isn't, and how you can be successful in it.
Last night I was invited to the launch of the Peter Legge institute of sales excellence.
This past weekend I did a talk about outlining your business plan , and one of the areas that I touched on was the cost structure, and revenue streams of businesses.
Are you one of those people that need a coffee to get you going? Sometimes you even need a second coffee in the middle of the day just to get through the day? Apparently there are alot of us out there, and Starbucks knows it. When I went to get my morning coffee the other day they told me that with my receipt I could come back after 2 pm to get an Iced coffee for only two dollars. I thought this was an awesome promotion for a few reasons:
-mmm Iced coffee in the summer
-That's a great discount on an iced coffee
- Those sneaky buggers are going to get me to COME BACK so I can get my coffee from them, and not a competitor.
There are a few marketing concepts that go into this promotion including: increasing the dollar spent per customer and incentivizing the customer to come back to the store ( maybe they will buy food too).
Starbucks does a great job of cross selling their customers , and manages to sell extra products where typically one is sufficient. Another company that is most well known for up selling is Mcdonalds with their famous line: " would you like fries with that?"
What products or promotions can you offer to your customers for up sale/cross sell, and through that increase their lifetime value to you?