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Bollin on Business: Climate warms with opportunity

By Mark Bollin

Published: Friday, June 13, 2008 1:54 PM MDT

Many businesses are wondering what effect the economy and soaring fuel and airline ticket prices will have on their summer selling season.

No doubt, families and those on a fixed income are readjusting budget allocations and changing some of their spending habits.

In turn, retailers and other businesses should be looking for creative ways to maintain and even grow their revenues and market share over the warm summer months.

Customers will be looking for value and way to get the most out of the dollars they will be spending so give them a compelling reason to do business with you.

How can you make sure that your business is on their list of “things to do” over the summer”?

Get creative

Make a “Summer Sale” a real bonus by packaging logical add-on items together.

Putting taco chips on sale? Why not tie in a serving bowl and salsa combo to the package at a special price, for example. A special drink with a fuel fill-up. Or offer car repair discount punch cards that deliver real discounts on auto service after a number of fuel fill-ups. Package wines in an attractive basket at a discount. You get the idea.

Try summer gift cards containing discounts on groups of additional products throughout the summer months

Join with neighboring business to offer a monthly Summer Savings Block Party, Food Festival, etc. Make it FUN.

Engage Your Customers

There is no better time to “cozy up” to your customers. Ask them what they really want. Are you carrying the brands they like? What new products or services would they like to see you add to your business?

Use customer database software to connect with your customers. Create a special coupon that can only be accessed electronically by your customers. Reward them for their loyalty. Create and invite them to a “Valued Customer” event. If you do not have a customer database, install one now. Your customers are that important — don’t you think?

Unleash a summer PR campaign

If your business is changing — adding new lines and changing your organization — write about it and send it in press release format to media outlets throughout your area. Press releases are easy to create and as long as they have substance and value to the public, there is a good chance your PR release will be published. New capabilities, product lines, employees, buildings additions, locations, mergers, acquisitions, etc. are all worthy topics for PR exposure.

Conduct a branding review

There is no better time to conduct a Branding Review of your business. Does your brand accurately portray who you are as a business? Does it deliver the right message and reflect your special business “personality”? Are all of the branding elements connected? It is sometimes difficult to look at your own business with an objective eye, so seek out a trusted associate to review your branding efforts then compare notes.

Review and update your Web site

The Web site always seems to be the marketing and branding element that is forgotten about, or at least the last to be updated. This can be a costly error. Summer is a great time to update your Web site to reflect your merchandising, marketing and branding objectives. To increase the click through penetration on your site, make sure your Web site quickly describes who you are as a business and gives the visitor compelling reasons to go deeper into your site.

Clean up, spruce up

Now is the perfect time to rearrange, paint, re-carpet, and add new displays and signage. You know, all of those “to do” jobs that you have been putting off. Putting a fresh face on you business will pay big dividends.

Fine tune your marketing plan

Summer is a great time to concentrate on your marketing plan. Take a look at what is likely to drive your markets over the next three years.

How will these market conditions affect your customers, and how will you accommodate these changes within your business? Thinking strategically will keep you ahead of trends instead of reacting to them. Your marketing budget must support the plan. Successful businesses allocate between 5 percent to 7 percent of projected sales revenues to drive their marketing programs. New businesses should set aside at least 10 percent of their projected revenues to marketing during the first three years of brand and identity development.

Advertise

Advertising is one of the key tools of marketing. Advertising delivers your identity to your target markets. It enhances your brand and creates value in the minds of your target audience. Your advertising must give your audience a compelling reason to act … a reason to get off of the couch and pay you a visit, call, and even seek your business out among all of your competitors. Carry your brand through all of your advertising campaigns, and make sure it is coordinated with all other marketing tools such as direct marketing, web promotions, brochures, business cards. etc.

A final two words … Year Around!

Businesses give up millions because they assume nobody shops over the summer. The misconception is that “Its too hot, nobody will show up.” Clearly, few shoppers want to meander the sidewalks in 100 -plus degree heat for no reason, yet they will respond to your efforts as long as you can prove VALUE.

Here in the Santa Cruz River Valley, accepting the myth of a summer meltdown could be very costly. Sure, things slow down in the summer, but 80 percent to 85 percent of our residents live here throughout the year. They have to eat, get their heating/AC systems repaired, buy clothing, service their cars, and live their lives. Summer provides excellent opportunities to advance and fine-tune your business - and positions it well for growth throughout the year.

Mark Bollin is marketing director of the Green Valley News. Contact him at mbollin@gvnews.com or 547-9760.


Local Business in Brief		Bollin on Business: Growing your business in good times, bad times

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