What everyone ought to know about special offers!

6 replies [Last post]
Offline
Joined:
10/07/2008

What everyone ought to know about special offers!

Excerpt:

http://jimsmarketingblog.com/2011/04/07/what-everyone-ought-to-know-about-special-offers/

Offering special offers is a skilled area of marketing and can sink a business, when used incorrectly.  This is because they can not only lower the value of each transaction, it can also reduce the number of transactions too; as people keep on holding out for your next deal and then find a better one elsewhere.  The net result can be fewer sales at lower profitability.

Here are some tips to help you get it right:

  1. Genuinely special.  They need to have real world value.  Look to add something extra, rather than lower a price.  Increase the value by adding, not subtracting.
  2. Scarce.  They are most effective when there is an element of scarcity.  Offers that are only available for a limited time or where there is a limited number, work best.
  3. Targeted.  They need to be used to gain you sales you would not have made at your usual price.
  4. Timed.  They need to be timed in such a way, that people are not expecting to see them on a set date.  Don’t train your marketplace to wait for the next offer.  This hurts cash flow, lowers profits and lowers sales volume.  That’s a lose, lose, lose!

I hope you found those ideas useful.  Special offers are a superb marketing tool, which can produce amazing results when used correctly.  Before you do your next; reader-only deal, early-bird discount, 2 for 1 offer or 20% off – Stop and think about what you want to achieve.

Learn more here

__________________

Gluten free is never free. - Joey Bloggs

 

Offline
Joined:
10/07/2008

Speaking of clever and cute... if you have ever shopped Zappos you will hear word of mouth about how awesome this company is, and then get this email confirmation:

 

Hi Zappos Zealot!

Ooh... You like us! You really like us! Thanks for placing an order on Zappos.com! We couldn't be happier about this (unless, of course, there were ice cream involved). At any rate, all the details of your order are below.

Give us a ring if you have any questions... 1-800-927-7671.

XOXO,
Zappos.com

P.S. Be on the lookout for a shipping confirmation. We'll send it once your order leaves the warehouse. Mwah!

Madeleine's picture
Offline
Joined:
09/29/2011

Plus, they throw in a free gift. I've heard.

__________________

Everyday, for good or ill, we intersect with some else's story and become a part of it.

 

Aussie Innkeeper's picture
Offline
Joined:
01/16/2010

I found that when I offered my usual Jan/Feb special of buy one night get the second for $20.13 (last year - this year will be $20.14), I actually got more takers than by offering a buy one get one free! 

__________________

Lynne
Queen of Everything!

 

Offline
Joined:
10/07/2008

Aussie Innkeeper wrote:

I found that when I offered my usual Jan/Feb special of buy one night get the second for $20.13 (last year - this year will be $20.14), I actually got more takers than by offering a buy one get one free! 

Good to hear it!~ yes

I want to write a blog article about the death of group on. It is on my list, maybe when I promote the off season special.

Offline
Joined:
10/07/2008

JB - -The entire reason I am not on ILOVEINNS. I am not offering a BOGO just because...

RE this line: 

Genuinely special.  They need to have real world value.  Look to add something extra, rather than lower a price.  Increase the value by adding, not subtracting.

For me, I have had the Month of Love special, I am not offering 50% off a two night stay, but giving them an additional night.  I wonder if the reasoning makes better sense for this, per the statement above "Genuinely special"

I already had one person say "If you have that special in Feb I will come and stay for valentines weekend. Well the special will not be valid that weekend...and in fact I may do something totally different this year, two years in a row the Feb special has brought in non B&B guests who are willing to try one at this special rate.

gillumhouse's picture
Offline
Joined:
05/22/2008

Last year I did Happy Birthday Gillum House - the third night of a stay was $19.12 + tax. I had several takers. This year was Happy Birthday West Virginia - the 3rd night was $18.63 + tax. And I did have takers (not many but some) both years. Next year back to normal.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.