Archive for March, 2010

Finding New Sales Opportunities: Repositioning Your Crazy idea

Tuesday, March 30th, 2010

Throughout the 1990’s, hundreds of stores were doing well selling our Scream inflatables: something striking to bring people into the store, good profit margin, repeat orders. Then, after a number of years, some stores decided they didn’t want to carry Scream stuff any more.

“What? You don’t want to sell our Screams any more?”

No, we think it’s about time to stop.”

“Why?” I asked, almost in a panic, “Aren’t they selling?”

“Yeah, they still sell, but we just think it’s time for a change.”

They’re going to stop selling our great-selling product because “it’s time for a change?”  WTF? How dare they?

Robert Fishbone and his Scream Product line

Robert Fishbone and his Scream Product line

Reality check: it’s not personal, it’s business*. There can be so many reasons why a store stops carrying a product or even an entire line. Maybe they just want a different look in their store. Maybe they want the space for something with a smaller footprint or higher profit margin. Maybe staff doesn’t want to look at inflatables screaming in anguish any more. Maybe a customer said the Screams were downers. Maybe the store got some defective product.

(*Maybe it is personal!  Maybe the store had a bad experience with your sales rep or delivery driver or – could it be? – you.)

What can you do? Be a problem-solver. Ask the store’s specific reasons, and be understanding of their situation. Maybe you can keep your product in that store after all. If not, what you learn can only help as you serve other clients. See this as an opportunity to explore possible new products, or new clients, or even a new client category. Could your product be educational?

Could your product be a give-away premium or promotional item? Could it be an added-value addition to someone else’s product or service?  We sold Scream inflatables to a financial services company that used them to comically calm down their clients during a market crisis. Be proactive.

Offer your retreating client a better deal. If you have other products, see if the store wants to sell them. For sure, ask if you can contact the store again in a year to see if they want to pick it up again. Ask them for suggestions on what you could make; maybe they already have something percolating in their mind that they’d love to see. You could even suggest someone else’s product line. If you do, that client will remember you as The Problem Solver, and eventually, it will come back to you in a positive way.

Just don’t burn your bridges. Word spreads fast and you want to “all ways and always” maintain a good reputation.  If a client is no fun to deal with, or difficult, or even awful, just say your most pleasant “Thanks” and don’t do business with them again. Other potential clients are just waiting for you to help them grow their own businesses. Be their solution.

Take Action!

Reintroduce your products to old clients that don’t use them anymore.  How can you make your stuff seem fresh again?

Ask your clients for suggestions on who you could approach for sales.

Invite some creative people over for lunch. Explain ahead of time that you want everybody to brainstorm crazy ways you could position your Crazy Idea so that it will be attractive to new client types.  Offer the participants an honorarium for their help.

Crazy Idea: Does your business look open?

Friday, March 26th, 2010

I once heard of a retail guru who asked an audience of business owners to walk outside of their stores or offices, turn around and look.  She then asked them to answer the question, “Are you open, does your business look open?”

I took this to mean a number of different things:

First, does it look like you actually are open. Are the lights on? Is there activity to be seen? Does your store look inviting? Is there anything that would compel someone passing by to want to stop and visit? Does your business look fresh and up-to-date, maybe even properly nostalgic?  Or does it look obsolete like, “there is no way you are going to be able to help me”.

Does your signage make it clear what you do, what you have to offer? Does it look like you only serve a particular niche audience? Is that a good thing? Are you excluding a wider customer base by the look of your business and your signage? Perhaps it’s possible to tweak your public image in a way that other people would say, “oh, this business is for me too; that’s great!”

Again, by open I don’t just mean your physical presence on the street either. The same interest and clarity and simplicity has to carry over to all of your other touch points: business cards, your web site, all of your social media pages, any advertising you do, your marketing outreach, how your employees and staff talk about your business, and of course how you yourself represent your business when you’re networking. Consistency, which really is about your brand, is paramount.

Potential customers need to understand what it is you do and what you offer in 3 seconds or less; if they don’t they are gone. That is just as true on the Internet as it is driving down the street; everybody surfs now and knows that there are a lot more options than there used to be. So if you can’t find a compelling way to get them quickly interested in what you do, they won’t even walk through the door.

Identifying, finding, and communicating with your niche audience is extremely important and social media is one way of doing that. The general process is you first find a platform that you want to participate in such as Twitter.

You join and create your own Twitter page, then you find people to listen to by using the search function, you follow their conversations, then you slowly and politely join the conversation by adding your own pearls of wisdom, which will make people more interested in you, which will get them to follow you and thus build your audience, eventually driving them to your content rich website, where you have established yourself as an expert and the go-to person in your field, which will help to lead to an expansion of your business.

Until the proliferation of the Internet, advertising and marketing was pretty much one way…not anymore. If someone has an opinion and decides to post it, thousands of potential customers will hear about it by the end of the day, maybe sooner.  Customer service has taken on a whole new meaning.

You can’t control it, but you can actively participate in it by quickly addressing issues both on and off the web.

So whether you have a brick and mortar presence, or exist purely as a virtual business, always remember to go ‘outside’ every day, turn around and look, then ask yourself the question, “Am I open?”