by Daria Steigman on October 23, 2008
Estee Lauder has raised the bar on its purchase “giveaway” from $1.00 below the price of not-so-cheap-to-begin-with moisturizer to $1.00 above. Which means you either leave without the extras or spend money on something you don’t want. Or option 3: change brands. There’s a lot of competition out there.
Let’s be clear: Although cosmetics companies put a dollar value on their giveaways, it doesn’t cost them that much. The aim of the promotions is to generate sales and customer loyalty.
So why would a company risk alienating customers, especially during a recession?
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Tagged as:
Customers,
Estee Lauder,
marketing,
Sales
by Daria Steigman on October 20, 2008
I received an absentee ballot in the mail the other day. Only one problem: I didn’t request one. I used one in September for the local (non-presidential) primary, but planned on trekking to my polling site this time. I guess I’m voting early this year.
Before you anticipate your customer’s or client’s needs, it’s useful to make sure those needs haven’t shifted over time.
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Tagged as:
Business,
Clients,
Customers
by Daria Steigman on August 18, 2008
You may have heard that Ed McMahon’s in mortgage trouble and that Donald Trump has reportedly offered to purchase McMahon’s Beverly Hills home and rent it back to him. While the two men are friends, I’m sure McMahon never thought he’d need a financial boost from The Donald.
The point is this: You don’t know what you’ll need, so why burn bridges? Too many companies adopt a transactional approach to business rather than building relationships. While GE, CVS, and other larger companies may get away with treating people as ATMs and data points, small business owners need to be especially careful to build value with clients, customers, and casual contacts. You never know when the guy sitting next to you at the ballpark might lead you to your next great business opportunity.
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Tagged as:
Clients,
Customers,
Relationships,
Trump,
Value
by Daria Steigman on August 2, 2008
Fast Growth Focus columnist Doug Davidoff writes about the five rules for creating demand:
- Know your customers.
- Identify problems they may not know they have.
- Educate clients on their problems by focusing on results and creating value.
- Don’t tell clients what you do; instead, “start building the bridge.”
- Monetize the value of your solutions.
Read Davidoff’s excellent article here.
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Tagged as:
Customers,
Doug Davidoff,
engagement,
Fast Growth Focus,
Value
