Thoughts behind Groupon and moreâ€¦
Improper use of the new INTERENT CRAZE called “Flash Sales” can destroy a company and turn your Corporate Brand into unidentifiable MUSH. The idea of a sale is nothing new; companies have placed items on sale since the beginning of retail. It is one of the best tools for thinning out inventory, for bringing customers into your business, and for highlighting your exceptional service and products to a new buying demographic. Unfortunately, improper use of the WEB BASED COUPON FRENZY will lead to a slow death: as cash flow in depleted, inventories are reduced and people no longer believe that your products or services are worth what you say they are worth. You can only CRY SALE so many times until people start to say, “It’s always on sale, and so whatever is on the sticker is not what it is worth.” You must protect your brand and understand the value of a sale and the proper way to help your clients benefit from discount opportunities – while at the same time maintaining your business brand. One small mistake in the value of your product or service means your brand is diluted; or in the worst of cases: your company completely shuts down! I am not saying that there isn’t a time and place for these flash sale sites, but a business must know its brand before engaging with them or it could harm the long term business goals.
Flash sales are ideal for the new business which is really using the sales programs as a form of marketing. Once a customer has used a product that has a real value, then they will return to the store or sign up for your services at the correct price because they know that they are getting a great value; however, if your product or service sold at a discount does not create a positive response from the end buyer, then you can kiss your business good bye. Today’s savvy customers know when they are BEING SOLD or BEING SCAMMED. Great value is found when a customer gets more than what they pay for. If I simply offer a product or service that matches customers’ expectations then all I have done is create an exchange solely on price. Companies that last are built on creating SUPERIOR VALUE. Superior Value is realized when the customer gets MORE THAN WHAT THEY PAID FOR AND MORE THAN WHAT THEY EXPECTED.
Use your sales properly, utilize the flash sales and coupon programs to create new opportunities for your business, to reduce inventory and as a way to share the superior value of your company and service. Sadly, many of today’s retailers and businesses are so desperate for business and lack any true understanding of their brand that they will use short term sales in the HOPE OF CREATING long term customers. If only they had really taken the time to assure that their products and services were the best in the business, they would have grown the old fashioned and tested way – they will have earned their business through hard work, superior service and the best advertizing means known to man: Word of Mouth!!! Nothing sells more than a satisfied customer bragging about your company.
The best way to generate cash and company growth is to sell a great product or service and create exceptional value for your clients.
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