Disastrous Results For A Groupon Based Promo – Or Is It?
Did you hear me saying before – “A good Loss Leader Offer or Sampling – is a great idea to attract new and qualified customers”. It’s very true, however if you don’t plan your promotion carefully – the results can be disastrous, or very close to it!
We all know that the best way to attract scores of new customers is to:
1. Select the Target Market that has money to pay, will come back if they like your product – what’s known as your top 10% of best potential customers;
2. Craft a good Killer Offer (KO) that will attract the above customers in the first place – typically this offer will be “Sampling“. Instead of spending your hard-earned money on advertising in mass media, give your target prospects an ethical bribe – ask them to come in and sample your product and service for FREE or close to it.
Sure it will cost you, however if your targeting is correct – you will gain number of well qualified customers. You will only have to give them something for free when they actually visit your place of business or physically inquire. When they do so – make your offer conditional to only one thing – they have to give you their contact details, so that you can market to them at later date!
3. Chose marketing medium to deliver your KO to your Target Market. If you are pizza store owner – you want local customers – so you target local geographic area with a flier delivered to the local neighborhood. If you sell Fish Finders (electronic gadget) – then you want to target everyone who’s interested in Fishing – possible Google AdWords geared to a well researched phrase; or FB advertising to people who has interest in Boats and Fishing, etc.
Test your KO on the small scale and see if the results are positive… if so then carefully roll out on large scale. But while doing so make sure you think through possible scenarios. This process is important as neglecting to do so can result in the situation similar to this one.
It’s debatable if the outcome is disastrous or an astonishing success – anything can be converted into one or another. If it would be me – I would capitalize on huge free publicity and expand my business!
Next time you are planning to roll out a new markting concept – please follow the above 3 steps – it will save you a lot of grief!