Posts filed under 'Business Tips'
In the latest issue of Rave Reviews Magazine, Gayle Gallagher wrote an article about finding opportunities to finance your plans for growing your business. Although the state of the economy may tell you that it’s not the time to consider growing your business, I suggest that you read the full article. You will learn the basics for identifying sources of loans and/or investors for your company. You’ll be ready to roll when the economy takes a turn for the better and creditors are willing to loan money once again.
Basically, the author compares different types of financing: the “loaner route” vs. the “investor route”. She also discusses “angel investors” (individuals who invest their own money in a business) and suggests good places to start to find such investors.Rave Reviews Magazine does not offer an online version of their magazine, but I suggest that you subscribe to receive the magazine in print form. Every issue includes articles with business tips, design ideas and lots of photos that show gourmet baskets made by successful basket designers. It’s a good investment for any size of gift basket business.
October 17th, 2008
I recently made a post on my blog about using data about consumer buying habits to develop marketing strategies for your gift basket business. (Target Your Gift Basket Business to Today’s Specialty Food Consumer). Since the research showed that many consumers are buying specialty foods that they can consume at home, I suggested making baskets that include products for a “full meal”.
Much to my surprise, I read an article in the most recent issue of Rave Reviews Magazine (Volume 5, Issue 5) called “Now Serving…Meals in a Basket”. First, the article lists ideas of things you should consider when making a “Meal in a Basket”:
- Convenience Factors: “Your job as a gift basket professionals is to make life easier for your customers…and give convenience in the gifts you prepare for the recipients.” The author states that “Meal in a Basket” can do all of this by providing the food, beverage, table and ambiance”.
- Portability Factors: “There’s a tremendous freedom in getting something you know you can use anywhere.” Providing the edible and non-edible items for a complete meals makes this type of basket ready to use in any setting.
- Excitement Factors: A “Meal in a Basket” is a fun gift to receive. It is sure to delight any one with a busy schedule!
The Rave Reviews article also includes ideas for specific “Meal in a Basket” themes. Gourmet products plus containers to match the theme, and design ideas are all included in this great article.
If you are not a subscriber to Rave Reviews Magazine, I highly recommend that you subscribe now. As the only published trade magazine in the industry, I find it to be chock full of valuable ideas every month. Go to Rave Reviews for subscription information or call 888-RAVE101 and tell them that you heard about their magazine in this blog.
By the way, in the article, it is suggested that table settings be included in a “Meals in a Basket” design. Go to Apex Gift Foods to see table accessories for the holiday season that would be perfect for a holiday meal!
October 14th, 2008
Some time ago, I posted an article on this blog called “Branding Your Business: What Does That Mean?” Well, I just read an article in Rave Reviews Magazine current issue that adds another suggestion for branding your business that I believe, is important to consider.
Author Joyce Reid, says that “branding isn’t just your cute logo or tagline….It’s everything your customer sees or hears about your your business”. Joyce goes on to say that “branding doesn’t begin with your logo creation…it begins with a story….your story”. Once you have your “story”, all of your marketing and advertising ideas can flow from this.
Go to Joyce’s web site, Creative Gifts to Go, and read Joyce’s brand story. Then, get a copy of Rave Reviews Magazine (Issue 5, Volume 5) and read Joyce’s article: “Branding Your Business With Words”.
As Joyce points out, if you search for “gift baskets” on Google, over 28 million pages are indexed. But don’t get discouraged! Remember that 80% of your business comes from 20% of your customers. You can go far to keep your current customers loyal to your business by creating a “brand story” that will help to create an “emotional” connection between you and them.
October 13th, 2008
Specialty Food Magazine, October, 2008, includes an article about specialty food buying habits of consumers. I think that by paying attention to this information, we can more clearly focus on the type of buyers will also buy gourmet baskets (which are typically packed with specialty foods!) and focus our marketing efforts accordingly.
Following are some of the findings from a report published by the National Association for the Specialty Food Trade (NASFT):
- People between 18 and 34 are the most likely to purchase specialty foods.
- Cold beverages, coffee, olive oils(and other specialty oils), cheese and chocolate are purchased by more than 1/2 of specialty food consumers.
- Almost 6 of 10 consumers purchase foods for everyday meals at home.
- Cultural activities (museums, art galleries, theater) are important to specialty food consumers.
- A majority (64%) of specialty food consumers regularly exercise.
So what does this mean to the gift basket business owner? How can this information be used in your marketing plans? Let’s go point by point.
- Age of Buyers. Advertise in the local college newspaper. Put flyers in the Student Union. Go to coffee shops on the college campus and leave your information.
- Types of Products Purchased. Coffees, cold beverages, and chocolates are offered by most of your suppliers. Stock up and use these products in your baskets.
- Everyday Meals: Add a breakfast basket to your line including pancake mix, syrup, jams, and coffee. Consider a basket with pasta, sauce, olives, and breadsticks for a full dinner.
- Cultural activities: Local theaters have programs which include advertising for local businesses. Museums often have gift shops and I often see consignment items in these shops. Why not find out if that gift shop would like to sell some gourmet baskets to their patrons. Art galleries have art “openings” featuring one or more particular artists at a special show. They often serve snacks at these openings. You might be able to work out something with the gallery owner to “cater” their next opening and showcase your best gourmet treats. Your business cards (or even a sample basket) would let gallery customers know where to get these food items.
- Exercise: Go to local fitness centers and find out if you can post your business cards or leave flyers with your information and a promotion.
You can take advantage of buying trends by shaping your marketing plans to match the habits of the buying public. Keeping abreast of these trends is critical to keep your business growing.
October 6th, 2008
I’m sure you’re busy planning for the upcoming holiday season, but even with the best laid plans, you may get unexpected orders. Although you’ll be thrilled to receive these orders, you might be caught without the products you need to get the order shipped per your customer’s instructions. Or you may have the products, but not enough staff to make the baskets so that they can be shipped by the required date. Or maybe you have a customer who wants a “themed basket” which you rarely make and you’re uncertain about investing in the containers and products to make a basket of this type.
If any of this sounds familiar, think about buying pre-made gift baskets. Flora Brown recently compiled a list of vendors who you can contact to buy pre-made baskets. These baskets will come to you already shrink wrapped and ready for you to deliver to your customer. While you may not make the same profit on these pre-made baskets as you might on those you create on your own, you’ll be making points with your customers when the baskets are delivered in a timely fashion. It’s better to make a smaller profit and be able to satisfy your customer then risk sending baskets that were made in a rush and may not be up to par with your usual quality.
Many of the vendors who sell pre-made baskets also offer drop-shipping options. Flora Brown also has compiled a list of companies who drop ship. You can have the baskets delivered directly to the recipient from the company that makes the baskets. Most often, you will be able to have a card attached to the basket with a personal note from the sender.
Whether you decide to buy pre-made baskets and deliver them yourself or have pre-made baskets drop-shipped, make sure you find out about the shipping charges and factor those into whatever price you establish.
September 29th, 2008
“Creating success begins with picturing it” says Ari Weinzweig in an article in September’s issue of Specialty Foods Magazine. Weinzweig calls this process “visioning” and he defines it this way: “A vision is a picture of the success of a project at a particular time in the future…It’s a vivid description of what success looks and feels like for us…what we are able to acheive, and the effect it has on our staff”.
I started thinking about using this process to plan an event for your business. Let’s say that you want to have a Holiday Open House. Start by getting together with your staff and talking about what it will “look like”.
Imagine 100 people strolling through your store. Create your displays in your mind; think about your favorite color schemes. See customers tasting your products and picking up the gifts that you sell. Visualize your staff walking through the store and talking to customers about the products (ingredients, customers’ favorites, how items can be used together in a basket). Want to provide some entertainment for your customers? Envision some musicians playing holiday tunes in a corner of your store. Then, picture your customers ordering holiday baskets for their family, friends and business colleagues.
Now that you have a vision, what do you need to do to actually create this scenario? Ask questions and elicit suggestions from your staff. Your questions should be specifically related to your vision. For example:
- How can you notify as many people as possible so that you can get 100 people into your store? Should you use email, phone contacts or do a mailing? is there a way you can get your local paper to advertise your open house?
- Do you have the materials and fixtures to set up your displays as you envisioned? If not, where can you get them? Do you know someone who can help you build or borrow what you want?
- What does your staff need to know in order to discuss products and designs with your customers? What needs to be done to help them prepare for the big day?
- Do you know anyone who can provide music? If you can arrange this, what do the musicians need in order to set up?
- What products do you want your customers to taste? Do you need coffee pots, plates, napkins, etc. Have you contacted your suppliers to request tasting samples?
- What does your staff need to know to take orders? What would make this an efficient process: new order forms? more computers? Is there a location in the store where you’d like customers to go when they’re ready to order?
This is just a preliminary list of questions. The more questions you ask, the better prepared you’ll be. This process, where you visualize your dream, then work backwards to work out the details, can be applied for any special project you may undertake. I think you’ll like the outcomes!
September 24th, 2008
I always like to see the newest issue of The Gourmet Retailer because it includes a promotional calendar that lists all the special occasions and events of the upcoming month. These “national holidays” can provide a plethora of ideas for gift basket promotions that your business can offer.
Here’s the list for November and some of my ideas for gift basket promotions:
- General Election Day is November 4th. All during the month of October, ask the customers who come into your store to vote on their favoritie cookie. Let your customers know ( by email or text message) that you’ll be sampling cookies all month. Then, on November 4th, promote a gourmet basket that uses the top three winners.
- November is Peanut Butter Lover’s month. Create a basket that includes all the peanut butter products in your line. And don’t forget the Chocolate Peanut Butter Pretzels!
- November 11th is Veterans Day. Offer a holiday discount to military families who want to send something to a loved one overseas. Check out Apex’s Treats for Troopers basket.
- Mickey Mouse’s 80th birthday is on November 18th. Design a new birthday basket for kids using Disney products.
- Thanksgiving fall on November 27th. In mid-October, start notifying your customers that you will have a variety of “Thankful” gourmet baskets that they can send to friends and family. Use email and promotional fliers to show customers your designs. Use a cornucopia basket and fill with fruit plus cookies, cakes and chocolates for a bountiful design. Don’t forget to add a beautiful bow that suggests the Fall season.
Please share your ideas for more Fall Promotions that will bring customers to your store.
September 14th, 2008
Flora Brown does it again! Check out her new web site: Gift Baskets Containers. This resource will help you locate wholesale baskets, bags, boxes, trays and many more unique containers for your gift basket designs. Search the site by type of container or if you are concerned about shipping costs, search by state and find a wholesaler located near your business. In addition to the state by state listing, Flora also includes container resources in Canada.
While you’re visiting the Gift Baskets Containers site, be sure to spend some time looking at Flora’s list of Sister Sites. A wealth of information is included on these sites including gift basket design ideas, gift basket business strategies, ideas for starting a craft business, things to consider when running a home based business and more.
Thank you Flora for providing these valuable resources for gift basket designers and business owners!
September 8th, 2008
Don’t miss the article in The Gourmet Retailer Magazine entitled “10 Best Customer Service Ideas”. Some of the ideas that are presented can be implemented easily; others require some more time and planning. But all are sure-fired ways to ensure that you and your staff will give your customers the best service possible (which will keep them coming back!).
One item in this article that astounded me is that “text messaging on mobile phones is becoming the preferred method for mobile marketing”. Now, I just learned how to send and receive text messages, so this suggestion seems a bit odd to me. But “more texts are sent per day than pieces of mail delivered by the U.S. Postal Service”. So, why not give it a try?
The author of this article suggests: “To prepare for this technological ad campaign, offer customers a percentage off or gift in exchange for their e-mail address. This is the start of building your e-mailing list.” Once your list is built (and you’ve learned how to text message!), you’re ready to go.
Here’s some success stories: “A national ice cream store recently sent text messages to its customers with a coupon good for one free cone but only on the day of the text message. To receive the free cone, they had to show the text on their cell phone. The response was overwhelming. A pizza parlor in Utah sent a text offering a chance to win a pizza party. Over 1,000 people responded. That is almost unheard of with any other promotional advertising.” And at the Democratic National Convention, delegates were asked to send text messages to encourage voter registration! The Obama campaign used text messaging to announce the vice-presidential candidate and continues to use text messaging to get information to supporters.
I find this to be a fascinating concept and will think about ways to implement text messaging in my business. Please send your comments and ideas about this unconventional, inexpensive, but apparently effective method for marketing.
August 30th, 2008
“According to a study in May, 2008 by the Food Marketing Institute, approximately 71% of Americans are cooking more at home. Due to rising food and gas prices….interest in home cooking is currently growing”. Full Story.
Let’s face it: the economy isn’t doing well and consumers are looking for ways to curb their spending habits. So if staying home is one way that people are handling this, we, as business owners, need to pay attention to this trend and work with it!
Your customers are still looking for gifts to acknowledge special occasions for friends and family. How about trying a “Stay at Home” promotion and introduce some new gift baskets that focus on this theme? A Taste of Italy basket full of pasta, sauce, olive oil, cheeses, crackers, olives, cookies and chocolates will give the lucky recipient all that is needed for a full course meal. Pack this in a metal colander and you’ve included a gift that can be used again and again. Or try a Blockbuster Movie Night Basket that includes a Blockbuster gift card, popcorn, peanuts, and games for a perfect gift for the stay at home crowd.
Other “practical” gifts for the family might include a Boredom Basket, packed with games and snacks or a Kid’s Stop activity basket full of games, books and snacks just for kids.
If you’re hesitant about investing in the inventory needed to create these baskets, consider purchasing some “ready to ship” designs to try out your promotion. Since you won’t have labor costs, put a lower mark-up on these items than usual. This approach will allow you to try something new and offer your customers a great selection of gifts.
Just because business may be slower than usual, we need to keep trying new approaches to attract new customers and keep our loyal customers. You can be “practical” while still giving your customers very special gifts!
August 17th, 2008
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