Should You Do A Holiday Sale?

Should You Do A Holiday Sale?

by | Jul 1, 2024 | Marketing and Advertising Insights

A funny thing about retailers having sales… it might be counterproductive.

The week I am publishing this article and podcast is the 1st week of July 2024 although I’m actually writing this on June 20th.

Today when I checked the mail I saw a piece of junk mail from a local mattress place advertising their July 4th Sales Event.

Most people rarely give their mail more than a cursory glance, like my wife. However since I’m in the advertising and marketing business, I actually read many of these junk mail pieces to see what people are doing to try and get customers.

Why do many businesses like this one run a Holiday Sale?

Simple answer is because they think the extra incentive will create more sales than they would normally get around the Holiday. And because these sales are a discount offer, they are assuming that the reason we haven’t already bought is because the price is too high and this sale will fix that.

Or perhaps they haven’t given it that much thought and they are spending money to advertise a Holiday sale because that’s what they’ve always done.  Or that’s what their competition does so it must be the right thing to do.

In retail, there are a couple of options for nearly all of us.  We can buy online or we can buy from a brick and mortar store. Even that line has blurred because I can buy online to pick up or have delivered from a local store many things these days.

I decided to investigate the offers from this mattress place and found something pretty common.  It’s impossible to do a direct comparison online. Even searching for the brand name and the product description on Amazon where this company also sells mattresses, I could not find a match.  In this case the junk mail piece gave prices and descriptions but left out a very important key element… they left out the size of the mattress they were selling at these discounted prices.  I spent way more time than most people would trying to figure out if this July 4th Sales Event was a good deal or not based on the prices on the junk mail piece.

There is one line that is honest and that should have been the main emphasis, not all these price examples that leave out important details.

That one line is: 20% off every mattress purchase.

The rest is advertising gibberish to put it politely and BS to be more blunt.

I still haven’t answered the question about Holiday sales, I know.

Hang with me for a few more seconds.

Just the concept of having a sale means you are going to reduce your profit margin.  Why would you do that if you didn’t have to?  Do you as a business owner like giving away money just to bribe a customer to spend money with you?

Bottom line as to why customers buy from one store versus another is trust first, value second and the actual price is way down the list for most people.

I wish I could tell all the businesses I work with to stop with the advertised sales.

In most cases.

If you need to clear out inventory, go ahead and mark the price.  That’s a legitimate reason for having a sale.  Grocery stores do it all the time with perishable meats, fruits, veggies and baked goods that they can either sell for a discount or it will end up in the dumpster as spoiled waste.

And now the answer to: Should You Do A Holiday Sale?

Only if it makes sense from the consumer’s viewpoint.  Not because you want to bribe us and lose profits.

Gift seasons like Christmas, Valentines Day, Mother and Fathers Day, Graduations, all of those are legitimate times to run a sale, but only on appropriate items. The day after a holiday is also a good time to run a sale on Christmas or Valentines themed stuff that otherwise has to be stored for 12 months.

Here’s a good rule to follow: Most holidays should not be sales events.  July 4th, Memorial Day, Veterans Day are all non-shopping holidays unless you are selling items directly related to that holiday like fireworks.

There is no season for mattresses, but you could get creative and do a February Valentines Mattress event.  Wink Wink Nod Nod.

 

Breaking the Ties

Breaking the Ties

by | Jun 24, 2024 | Marketing and Advertising Insights, Sound ADvice

In the world of selling products and services, when all things are equal, the decision we use to determine who we purchase from is based on… perception!  And that perception is, who’s better, who’s more trustworthy, and who’s more reliable!

In most cases, many businesses offer the same products or services that you offer. In these cases, standing for “something” and being “different” is what is needed to break the tie.

At this very moment, people have a need or a want to buy the products or services you sell. Their next decision is the all-important one. Where will they choose to buy, and why?

First, let’s be honest.  Price is all that matters for a certain percentage of people, and you may or may not even be in the conversation.  But when price isn’t the only criterion, that’s when you have a shot.  Will it come down to a relationship, an emotional connection created from strong advertising, or a past experience, good or bad?

The key is getting people to know you and your business and know about your business BEFORE they need the products or services you sell.

Developing your tiebreaker, a consistent business strategy you can use to differentiate your business in your advertising and marketing can be challenging but well worth the effort. 

Once you’ve clearly established your competitive difference (strategy), your challenge is to develop a unique and memorable way to consistently highlight that competitive tiebreaker.

Remember, when all things are equal, the “buy” goes to… whoever has something perceived as BETTER or DIFFERENT!

It’s imperative that you have a clear and compelling reason for consumers to choose you over your competitors. 

If you want help creating your unique difference, click here to receive our Ten Tiebreaking Strategies as thought-starters for this important exercise. If you would like additional help, email Scott@WOWO.com and I’ll  help you conduct a creative brainstorming session.

Your Attention Please

Your Attention Please

by | Jun 17, 2024 | Marketing and Advertising Insights, Sound ADvice

“Hear-Yee, Hear-Yee!”  “Can I have your attention please?”  “Ahem – Attention please!”

There are a lot of ways to capture someone, or a group’s attention, including words, sounds, and gestures.

In advertising, capturing one’s attention is the first step in effective advertising. If you fail at capturing their attention upfront, all is wasted. The first step is the most critical.

Since the beginning of time, it’s been known that you only have one opportunity to make a good first impression. The debate is …. how long do you have to make that impression?

Studies vary, but if you are applying for a job, a story in Psychological Science suggests it’s as little as 1/10 of a second.  Other studies indicate that you have up to 7 seconds.  Regardless of whose opinion you trust, the answer is still …not very long!

Your advertising message faces the same challenge. What your ads say and how they are delivered in the first few seconds dictates whether you grab the attention of your potential prospects and whether they will tune in or tune out to your message.

Reporters and authors have long known that the headline and the first sentence are what dictate whether the reader tunes in and continues with the rest of the story or tunes out. In an effort to develop the all-important “creative hook” at the top of your ads on websites, many headlines end up with more “creative” than “hook”. 

Regardless of what advertising medium you use, paying special attention to the headline or first words of an ad, and getting them right, will pay huge dividends when it comes to response to that ad.

Here’s a bonus tip. Often, you will find that the best line of an ad or letter, or the best words/sentence, is in the middle.  When you find it, move it to the first line, or use it as the headline.

To create more powerful headlines, click here to see the Eight Power Openings you can use to help capture more attention to your advertising.

How Do YOU Give?

How Do YOU Give?

by | Jun 10, 2024 | Really? The Personal ScLoHo, The Not-So-Secret Writings of ScLoHo

Marketing is more than advertising and your brand is more than your logo.

Despite the rise of A.I. (Artificial Intelligence) it’s people that make everything happen still in one degree or another.

The people in your organization interact with others and how ever that occurs, it matters.

Perception is reality in many cases.

One way to create a positive perception is to give of yourself.

Sure, money is nice but you have more valuable resources than just money that you can give.

You have talents, skills, wisdom and experience and if you have some time to share you can make a difference.

I’m going to share my story but it’s only an example of what might be possible for you.  This is not about “how great Scott is”.

April 2003 was the month that I returned to radio fulltime in Fort Wayne, Indiana in a role that I had not done before in Indiana… advertising sales and marketing consulting.

Eight years with one group of stations, followed by 3 different jobs in succession that I stuck with 10 months each before joining Federated Media at the end of 2013.

In 2020, I stepped into management and then at the end of 2023, returned to sales.

As a way to balance my life, one of the things I’ve done is to give of my time to organizations that I could help. Returning to sales last year gave me control over my time again that I had lost a bit of while in management.

I’ve served on a couple of boards of non-profits, marketing committees of others and leadership roles outside of my paid work.  I’ve had the opportunity to speak to students at several colleges and universities too.  Last fall when my position changed and I found myself out in public more, it was fun to meet up with many old friends and acquaintances that I hadn’t seen much of since Covid.  Sometimes, it’s simply seeing a need and stepping up to help.  Sometimes it’s being available when someone needs help or an ear to bounce an idea off of.

I guess what i’m saying is that you and I have the same 168 hours a week and we get to choose how to spend the hours and minutes of our lives. You and your team need a healthy life balance and perhaps one way to achieve that balance is to do what I’ve learned works for my life and simply give of yourself.  Be open to serve and have an impact.  Not for the recognition, but because you are needed.

Does this inspire you to evaluate the way you spend your time?  I’d like to hear your story.  Drop me a note to Scott@ScLoHo.net

Culture is the Key

Culture is the Key

by | Jun 3, 2024 | Sound ADvice, The Not-So-Secret Writings of ScLoHo

The last few weeks I’ve been sharing my Sound ADvice newsletter content on my website and podcast and I’ve got another one to share.  This time I’m also going to include content that wasn’t in the Sound ADvice newsletter too.  And if you want to receive my free newsletter in your inbox, send me an email to Scott@WOWO.com

It was the famous line from the movie Field of Dreams, “If you build it, they will come”.

Today, good employees want more than a good paycheck; they want to “enjoy” where they work.  So, the new hiring mantra should be… “Make it fun and they will come”.

Attracting, hiring, and retaining good employees is as difficult as it’s ever been. Last summer i reviewed 400 applicants in order to hire 2. Because we are very particular with finding the right person for the openings we have, we also make a diligent effort to keep them and culture is a key component.

If you have a “fun” place to work, exploit, promote, and tell people about it. They will come.

If you don’t, start building the “fun” culture today.

Study after study has proven that companies who put fun into their company culture are more successful.

Here are some startling statistics that may make you want to consider “intentionally” creating a fun and happy work environment:

  • Companies with happy employees outperform their competition by 20%
  • Happy salespeople produce 37% greater sales
  • 36% of employees would give up $5000 in salary to be happier at work
  • Happy employees take 10 times fewer sick days

It only makes sense that happy people are more productive.  The obvious rings loud and clear, but the fact is, most companies don’t intentionally create a fun culture.  It either happens or it doesn’t.

To put “fun” into your culture, first, start by recognizing it won’t happen on its own.  It’s you, the owner or manager, who needs to implement a plan to have fun!  Come up with fun or positive events plotted throughout the year, either monthly or quarterly.  If you are struggling to come up with ideas, create a “fun idea” team and let them bring ideas to you!

It can be as simple as implementing “Casual Fridays” or “Bring your Pet to Work Day” and can be as deep as paid company trips. Having a company picnic in the summer and a Christmas party around the holidays is not enough in today’s competitive work environment.

In today’s extremely competitive recruitment and retention environment, businesses must make every effort to not only attract new employees but also retain the ones they have.

If YOU make it fun…they will come and Stay!

If you’d like to start putting more “FUN” into your business culture, click here to read 12 Ways to Create a FUN Work Environment.

P.S.  If you are currently looking for better success with your recruitment efforts, reach out to me, Scott Howard. I can help guide you on how to target better-qualified candidates.

Some of the additional information beyond what was sent in my Sound ADvice newsletter is based on some conversations I’ve had recently and a special training session that our company, Federated Media conducted this summer.

Culture is more than fun and games, it’s also the interaction between staff and particularly between employees and their bosses.  In 2013 the company I worked for had a management change in the department that I worked in.  Within 5 months, I decided to return to radio because of conflicts.  But it wasn’t just me.  Within 18 months the entire digital marketing team resigned due to bad management including a couple of my co-workers who’d been with the company 10+ years.

This year, I’ve had conversations with a half dozen people who had similar situations.  They were happy in their jobs and then management changed and it was not a good match.  That led to career changes for the employees and their former companies had to find their replacements.

Federated Media’s C.O.O. Brad Williams brought back an advanced training program that he personally presented to all the full-time staff at our company.  It took several meetings as we were limited to 20 participants each.  This was an adaption of a program from Wilson Learning on Social Styles.  End goal was for each person, no matter what their title or position to be able to identify their own style and that of others so we could improve our relationships with each other.  This was a full day investment for everyone and for Brad, multiply that by at least 5 days, one for each group, plus travel and preparation.

Culture is the Key to attracting and retaining your team.  Are you purposefully creating a culture that works?