Re-posting: 4th Quarter 2006 - are you prepared?
Posted by: Ryan on: 25 Aug, 2006
4th Quarter 2006 - are you prepared?
by Ryan Montague - Founder and CEO
August 2006
Still figuring out how to capture a share of the 4th quarter shopping frenzy? Not sure where or how to spend your last marketing dollars? Here are a few ideas that could make the difference between breaking even and jump-starting your business for 2007:
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“Free Shipping” offers proved to be very successful during the 2005 holiday shopping season. This can be accomplished without significantly reducing net margins by adding some of, or the entire shipping cost to the price of the product. Consumers who purchase Gourmet and Specialty Food items are accustomed to paying premium prices for premium products, so a few extra dollars may not break the deal, and psychologically the “free shipping” offer can make the deal.
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Monitor website analytics very closely. Watch for trends and indicators that lead to low conversion rates. Simply put, if shoppers are leaving your site without purchasing at an abnormal rate during the 4th quarter when they are in a “buying mode”, then the slower 3 quarters of the year will be very frustrating. Know what’s happening when it happens, not when it’s too late.
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Offer customized or personal gift messaging and packaging. Let your shoppers send something to a loved one that looks like it was sent and personalized by them, not a mass-mailing company. Shoppers are typically willing to pay a little more for the “wow-factor” when the competition only offers a generic package and message.
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Offer discounts through cross-selling and up-selling. One way of doing this is by giving discounts on certain products that would compliment the product they are looking at. For example, if you are selling gourmet salsa then offer 20% off tortilla chips, or throw in a free bag when they order 2 jars instead of one. This can increase average order size, and hopefully the amount of repeat and referral business in the future.
Between Thanksgiving, Christmas, and New Years eve, the 4th quarter is filled with parties, gatherings, and celebrations - usually involving great food. Who doesn’t want to impress friends and family with a gourmet meal or dessert? Don’t miss out on the opportunity to market and sell your products during the busiest shopping season of the year.
To learn how Gourmet Business Solutions can help your company prepare for the 4th quarter and implement some of these ideas, please contact us today for more information on our sales, food marketing, and business startup solutions. Thank you for reading, and look for next month’s newsletter: “Search Engine Marketing; Organic vs. Pay-Per-Click”.