Wednesday, December 2, 2009

How do you position your product VALUE in today's economic climate?

A Night at the Movies for two

tickets to your favorite show ~ $25

Refreshments ~ $15

Gas ~ $10

TOTAL ~ $50 for 90 minutes

That breaks down to $5.56 per minute

Dinner out on the town for two

Drinks ~ $15

Appetizers ~ $10

Dinner ~ $25

Gas ~ $10

TOTAL ~ $60 for 90 minutes

That breaks down to $6.67 per minute

Stitching with a Friend

Fabric (Linen) ~ $20

Fibers ~ $12

Chart ~ $10

Gas ~ $10

TOTAL ~ $52 for 300 minutes

That breaks down to $1.73 per minute

Stitchers receive an additional 210 minutes of entertainment for less money!

Here’s a great example of how Loose Thread Stitchers shows value to our customers. How are you positioning your company to compete in this economy? Why not showcase the VALUE your customers receive when they choose to purchase your products over others? The above example would be a wonderful example to send to your customers in your monthly newsletter. Better yet ~ why not engage your customers? Creating an environment where customers can connect with your company in a new and exciting way to help build customer loyalty and referrals!

Interested? Great! Ok here’s what to do! Copy and paste the examples above in your newsletter. Ask your customers to send you more examples. For each example sent they will be entered to win a prize. Set a deadline for entries. One entry will be chosen the winner on a set date and will be announced in the following month’s newsletter.

Be sure to add a blurb about why this prize is so valuable. This doesn’t mean the prize has to be expensive. You need to convey to your customers why it is special, why do you love it so much and why do your customers HAVE TO HAVE IT!

When you announce the winner in the next newsletter why don’t you surprise all who entered with a 10% discount on said product (whatever the winner receives)? This will encourage future participation; bring traffic into your store and increase customer referrals ~ shoppers LOVE exclusive discounts!

Marketing is an essential part of any business and by positioning your company as an alternate VALUE in today’s economy in your field makes your company even more essential. These small steps will enable your company to continue to build a successful link with your customers!

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