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Year-End Tips for Retailers, Services, and Non-Profits
Posted on Mon, 11/10/2008 - 20:07 by John Arnold
Capturing sales or donations during the end of this year is going to be more challenging than you’ve been used to in the previous few years. There’s no such thing as fool-proof recession marketing, but there are reliable ways to sustain your business and help ensure a strong recovery. Here are a few tips to get you thinking about ways to sustain and grow.
If you sell products
Focus your promotions on products with up-sell and cross-sell potential. That way you can gain sales early next year with add-on promotions. Make sure you track clicks and purchases so you know which customers own which products.
If you sell services
Focus your promotions on a-la-carte services instead of big service packages or long contracts. When money is tight, people don’t like to pay for anything they think they don’t need. Even one unwanted option in a package might cause hesitation. If you end up selling more a-la-carte services than usual it might impact your margins, but you’re more likely to keep your cash flow up and gain new customers who will purchase higher margin offerings sooner or later.
If you’re a non-profit (on purpose)
Focus your promotions on the specific rewards related to a donation. For example, when asking for a $50 donation, offer a choice of a tax-deduction, a free gift, a public acknowledgement, or an anonymous thank you. Don’t take the focus off your cause too much. Just remind your audience that you want them to feel even more special about making a donation while money is tight.
If you sell products
Focus your promotions on products with up-sell and cross-sell potential. That way you can gain sales early next year with add-on promotions. Make sure you track clicks and purchases so you know which customers own which products.
If you sell services
Focus your promotions on a-la-carte services instead of big service packages or long contracts. When money is tight, people don’t like to pay for anything they think they don’t need. Even one unwanted option in a package might cause hesitation. If you end up selling more a-la-carte services than usual it might impact your margins, but you’re more likely to keep your cash flow up and gain new customers who will purchase higher margin offerings sooner or later.
If you’re a non-profit (on purpose)
Focus your promotions on the specific rewards related to a donation. For example, when asking for a $50 donation, offer a choice of a tax-deduction, a free gift, a public acknowledgement, or an anonymous thank you. Don’t take the focus off your cause too much. Just remind your audience that you want them to feel even more special about making a donation while money is tight.
