Archive for May, 2010
“Consumers are becoming confident about the economic recovery and their finances are on the mend, according to a new survey of consumer retail spending and trends”. Yet even with this increased confidence, consumers are still cautious about what they’re buying and where they’re shopping and they’re changing their buying habits. Full story.
According to this survey, consumers reported increased use of the internet to investigate products and prices before making a purchase. With easy access to the internet through our mobile phones, people are increasing comparing prices. So what does this mean for our gift basket businesses? If you were offering special pricing or products during the worst part of the recession, you may need to continue to do this. But take some time to analyze which gift baskets your customers bought, and what price points were popular for which occasions. It is unlikely that you will need to always offer a “sale”, but you may need to do that at certain times of year or on certain product.
Researchers also found that consumers are relying more on social media for reviews of products and to find out abut special pricing and promotions. If more shoppers are checking out the web before they make purchases, this might be the time to “spruce up” your web site and make sure that it is appealing and easy to navigate. Consumers won’t stick around too long on a web site where it is difficult to find information.
Although consumer purchasing may be on the upswing, be sure to continue to monitor your business practices and be responsive to your customers’ buying patterns and habits.
May 21st, 2010
A newsletter can help you create a distinctive identity for your business. It’s a way to communicate regularly with your customers; let them know about special promotions, new products, and share other interesting information with them that will make them want to visit your web site or store.
I recently read an informative blog post about the importance of choosing a name for your newsletter. The writer suggested quite a few great tips for making this determination:
- Determine your focus. What do you want your customers to think about your business? What image do you want to portray?
- Think about a name that’s friendly and inviting. Keep it short, but concise so that it’s easy to remember and if emailing, so that it will fit into the subject line.
- Set your expectations for delivery. How often will you publish your newsletter.
While you’re thinking about your newsletter, check out this publication from SCORE. Author Roger Parker lists 12 steps for a successful newsletter and makes several suggestions about stylist things such as layout, spacing, columns, color and more.
May 14th, 2010
Many of us believe that email is the only way to communicate with our customer. Pick up any marketing magazine or go online to check your email and you’ll see articles about email marketing, and using social media to promote our products. There’s no doubt that we need to use new technology in our advertising and marketing efforts, but maybe we shouldn’t forget about direct mail so quickly. According to Denny Hatch, a marketing consultant who writes for Target Marketing Magazine, “direct mail is alive and well”. Full Story.
Market research conducted in 2009 indicates that approximately “75% of 18 – 34 year olds have made at least one purchase resulting from direct mail”. Author Hatch postulates that the overwhelming number of emails that we receive, including lots of spam, is actually decreasing the effectiveness of many email campaigns. And, if you ask someone over 62 years old, you’ll probably hear that they too prefer the old days: newspapers, magazines and direct mail!
I did a quick google search on “using direct mail” and found an article in INC. that while written in 2000, still conveys some good advice.
- Make sure you have a “good list”. Double check addresses and try to make sure that your mailings are going to customers who will be attracted to your products and services. “There are many ways to compile a qualified list, as simple as putting it together yourself from all your contacts and prospects. You can also buy lists from a mail house or list broker, your local chamber of commerce, and other professional groups.”
- Craft a good message. Make sure you have a strong offer (10% off is not usually enough incentive to attract new customers). Make sure your presentation matches your message (if you’re selling upscale gift baskets, a plain post card probably won’t send the right message about the quality of your products). Don’t forget to list your hours, contact information, and address.
Read the full article for more suggestions about your next direct mail campaign.
May 10th, 2010
Mark your calendar for the Summer Fancy Food Show, June 27 – 29, 2010 in New York City. Here’s what you can expect: “180,000 products including confections, cheese, coffee, snacks, spices, ethnic, natural, organic and more. 2,500 exhibitors, 81 countries represented and 24,000 attendees!”
Register for the show before May 21st and pay just $35. After May 22nd, the registration fee will be $60. You can also take advantage of New York City Deals: discounts on dining, entertainment, parking and more.
Educational workshops start on Friday, June 25th and include topics such as 7 Ways to Evaluate Your Product’s Branding and Packaging to Respond to Changing Markets, Social Media Strides in Specialty Food, Pricing Your Gift Baskets with Profit and Goals. Check out the full slate of workshops and sign up for special discount packages.
If you want to do some “pre-show” shopping, or you’re not able to attend the show, check out “What’s New, What’s Hot” on the Specialty Food web site. Browse new products, organic products and a special section that lists holiday and gift items.
May 6th, 2010
