“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 at 08:31pm
Lorie Obernauer
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 at 09:45pm
Lorie Obernauer
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 at 08:44pm
Lorie Obernauer
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 at 10:52am
Lorie Obernauer
“Lean Start-Up”. It’s a new term being bantered about Silicon Valley and it applies to any new business venture. “If it works, it will reduce failure rates for entrepreneurial ventures and boost innovation”. Full Story…
The concept of “lean start-ups” was taken from Japanese business ventures and “focused on eliminating any work or investment that doesn’t produce value for customers”. It emphasizes an early and constant focus on customers. It assumes that the product being offered is something consumers really want. It requires regular feedback regarding customer satisfaction and constant tweaking of the product. Then, more analysis of customers’ responses to product alterations. In other words, it is a dynamic, organic, process.
So how does this concept apply to your gift basket business? First, you need to make sure that the product you’re offering is something that your customer base really wants. Have you surveyed your customers recently to learn for what occasions do they buy gift baskets, and what they to hope to convey when they send a gift? Have you asked your customers about their favorite products? Then, take a look at your basket designs. Does your product offering match what they want? Use social media such as Facebook or Twitter to send mini “surveys” to your customer base and get answers to these questions.
Next, once a gift basket is purchased, do you follow up with your customer and the recipient? This is a perfect opportunity to use social media technology. Did the recipient like how it looked and enjoy the products that were included? Was your customer satisfied with the delivery time and overall service? Based upon this feedback, what could you do differently? Take the time to personally call your customer and the recipient, use text messaging, or email the recipient to get this feedback. Then make the changes you need to make to “do it better” next time!
In this competitive market, where consumers have hundreds of options for their purchases, it is critical that we run our businesses in the most cost effective and efficient manner. We can do this by making sure we are selling the products that consumers want, then making adjustments necessary to keep the customers satisified.
April 25th, 2010 at 01:16pm
Lorie Obernauer
A mission statement for your business defines who your company is, what you do, what you stand for, and why you do it. “It captures, in a few succinct sentences, the essence of your business’s goals and the philosophies underlying them. Equally important, the mission statement signals what your business is all about to your customers, employees, suppliers and the community.” Read more…
So why do you need a mission statement? Read my last blog post: “What’s Your Strategy With Your Gift Basket Business?”
To start to develop your mission statement, read the mission statements of other companies. Then, ask yourself some questions:
- Why are you in business?
- Who are your customers?
- What image do you want to convey?
- What products do you offer?
- What level of service do you offer?
- What roles do you and your employees play?
- How do you differ from your competitors?
Get others who are involved in your business to help you answer these questions. This may include employees, family members or friends. Feedback and suggestions from others will help you clarify what you really want to say.
Once your mission statement is written, make sure that all of your business activities are tailored so that your vision will be realized. When problems arise, just refer back to your mission and the solutions will be apparent.
April 17th, 2010 at 03:52pm
Lorie Obernauer
Too often, when we’re trying to tackle the everyday problems in our businesses, we immediately start thinking about solutions and strategies before clearly understanding the questions. Nick Burkholder, from First Resource, suggests that a good strategy needs to be based upon a clearly defined mission for your company. Full article…
So why is this important? And how might this play out in your gift basket business? Imagine that two business owners, Jane and Martha, meet for coffee to discuss a common issue: both want to increase their sales by 10% in 2010. Jane’s mission is to provide an extraordinary selection of baskets through on-line promotions and she receives most of her orders through her web site. Martha’s mission is to provide the exceptional customer service and personalized gifts and her business is most often based upon referrals from satisfied customers.Based on this understanding of these differing visions for success, Martha and Jane will choose very different strategies for reaching their goals to increase business by 10%. Jane will spend her marketing dollars on making her web site more user friendly, and designing an email marketing campaign that will target her specific buyers’ preferences. Martha will hire an experienced sales person and gift basket designer who can bring a new “look” to the baskets that she already offers to her customers.
Before choosing a “solution”, make sure that you and your team have a concise and precise idea of the company’s mission. Check back for the next blog post about how to conceptualize and write a mission statement for your company.
April 9th, 2010 at 09:39pm
Lorie Obernauer
Chicago, Illinois is the home for the 2010 Sweets & Snacks Expo (formerly the All Candy Expo), May 25 – 27, 2010. This is the largest venue in the Americas to see new products and new trends, in new categories, with new merchandising concepts, from new exhibitors.
At the New Products Showcase, you’ll see the best new products that will be introduced at the show. Over 450 exhibitors will be displaying chocolates, candies, cookies, crackers, snacks, nuts and more. And keynote speakers at informative education sessions will present topics that will help you grow your business.
For registration details, go to Sweets & Snacks Expo 2010.
April 6th, 2010 at 12:10am
Lorie Obernauer
In the January / February issue of Specialty News Magazine, author Ari Weinzweig offers eight tips for successful business management. According to Weinzweig, good energy leads to good business. There are many self help books and programs that teaches techniques about how we can use our “personal” energy to create good circumstances in our lives. The popular book and movie “The Secret” is a perfect example.
What you’ll learn in this article is that positive energy in your business, which starts with personal positive energy, can create a responsive, collaborative, vital organization where employees are excited to come to work and customers are anxious to visit and do business.
If you can get your hands on the January / February issue, read the full article to learn how to:
1. differentiate between good and unproductive energy.
2. lead with good energy
3. build good energy
4. protect good energy
5. monitor and mentor others’ energy
6. project your energy
7. manage group energy
8. renew energy
Increase company morale and increase sales by injecting positive energy into your life. As Weinzweig says “the more good energy you and I put out, the more we manage it well in ourselves and others, the more it will attract customers….When energy is better, sales go up, stress goes down, tensions decrease, fun goes up, everything just works better”.
March 28th, 2010 at 03:57pm
Lorie Obernauer
Want to make it easier for your customers to find you online? Major search engines now have local business listing sections. According to Daniel Owen, vice president of a New York interactive advertising agency, “these sections allow you to list your local business for free” (read full story).
Check out these search engines for information on how to add your business to their business listing sections.
You might also want to consider paid search marketing as a means to help customers find your online business. But before going in that direction, learn how that process works. I found a series of articles called “Introduction to Search Engine Submission”. Although written a few years ago, I found it to be a good primer on how search engines work. You can also read read Biznology Newsletter and Blog. for a more recent “take” on the topic.
March 23rd, 2010 at 10:43pm
Lorie Obernauer
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