January 23, 2003 - Give it away!

 

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Nutritionalmarketing.com Weekly Newsletter Update
  - Marketing Ideas, Information and Tips Nutritional Retailers Want and Need!!

Volume 4, Issue #4 - January 23, 2003
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In this issue:
Give it away!
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Give it away!

Here’s a thought that will get some of you wondering if I have brain damage from lack of sleep!

We’re in very tough economic times.  We have international unrest and threats of war.  And we add to that a very soft economy.  People are not running out to spend more money.  I regularly see company layoffs and company closings.  So what are you to do?

Hold on to your hats folks.

Give it away! 

Stop your screaming and take your high-blood-pressure pills.

I’m not crazy.  Nor do I have a brain injury.  During tough times, it takes more than the ordinary to get through to people.  It takes the extraordinary.  Hyperbole about service, value and experience are not enough.  It takes a drastic shift to get people to change their state of mind and try something new.

OK, you’ve taken a couple of deep, cleansing breaths and you’re willing to read what I’m suggesting you do.  Look for areas in your business where you can give your products and services away.  I know this goes against what you want to do.  Your survival mentality says you should raise prices and charge for advice so you can stop the flow of red ink.  You need to get more from fewer customers to stop the hemorrhaging in your practice.

The problem is if you try to get more from your existing customers, they will start to feel pressured.  Please read this carefully:  I’m not saying you shouldn’t try to get your existing customers to purchase more and different solutions from you.  That is a must.  What I’m saying is don’t try to get them to spend more for the same products and services they’ve received in the past.

Think about this.  You’ve used the same dry cleaner for the last five years and they’ve done good work.  But now, because people are spending less on dry cleaning, they raise their rates to make ends meet.  This is a flawed business model that will not work.

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So what do I think you should give away?  Things of real and perceived value.  But you can’t give away something you’ve been offering for free and try to make it look like you’re doing something new.  For example, if you’ve always offered a free samples, you can’t start giving that away because you always have.

Town halls have become a favorite of politicians lately and they’ve been very effective.  They get a number of people together and they talk about issues and concerns.  I think this is a great FREE opportunity for you.  You know that people in your community have a number of health and nutritional issues and concerns and that they would love to get solutions to their problems for free.  It’s important that, unlike some politicians, you have full and free disclosure.  What I mean by that is you don’t hold things back until you can charge for it.  That is counterproductive.

You can leverage your town hall into some wonderful media coverage.  Local media love it when people come together and help each other out.  Send your media a press release covering the who, what, when, where and why of it and you could have some wonderful extra visitors at your town hall.

You could offer these meetings on a weekly or monthly basis to facilitate sharing of questions and answers and, of course, learning.  For the first few, plan on having your own material to answer common questions.  It could take a few meetings for people to get the hang of it but after that, who knows where it could lead?

Outline the content of the first few meetings and fax it to the media in advance so they know what to expect.

What else can you give away?  What about a calculation or report that’s easy to do with your amazing whizbang software?  Sure, you may have charged for this in the past but now it’s too important for your customers not to have the information.

What about having FREE days?  Take your traditionally slowest business day and offer FREE messages, drinks, evaluations or you decide.

Maybe I will give that a try.  Maybe I will offer you FREE 30-minute phone consultations or marketing reviews one day a week.  It would save you the $197 an hour we charge.

Look for other ideas.  It could be fun!  What would you be willing to give away to help your customers and help your business grow and prosper?

Auto companies are giving away millions of dollars by offering 0% financing.  Hilton now gives you one night FREE if you stay for two.  Some private schools and colleges now offer a FREE computer if you sign up for classes!

Rainy days are here!  As a business owner, I’ve always been told to take some cash generated by the good times and stash it away for the tough times.  There’s another way of looking at that.  By offering some things for free, you’re reinvesting from the good years to make it through the leaner ones.

A friend of mine once said, "If you’re not standing on the edge, you’re just taking up space."  During times like these, you need to put your feet on the edge and let it all hang out. 

All I’m asking you to do is think about it.  Give the idea consideration.  Something extraordinary could come out of it.

As always, have fun with marketing!

Marty

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Quote

"Take a chance!  All life is a chance.  The man who goes the furthest is generally the one who is willing to do and dare." - Dale Carnegie.

In times like these, a little risk taking may be the prescription for success.  Take a chance.  Give something away.  You may be pleasantly surprised by the results.

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Please note that all of the marketing ideas that are mentioned in our enewsletter or on our web site are designed to help you grow your business.  As you know one size does not fit all and some of the ideas may work better for specific applications.