Dial up the romance, dial up the profits!
Valentine’s Day is just three days away!
As a wife / husband / girlfriend / boyfriend / life partner that means you’ve only got a couple of days to land the perfect gift.
As a business owner, it means you’ve only got a couple of days to capitalise on the event!
During this week florists will be operating at somewhere between a 2500% and 7000% mark-up, but all business owners should always be on the lookout for major events or holidays to drum up some extra customers.
This week on Let’s Talk Business on the Macquarie Radio network, I shared my tips for small business owners to get the Valentine’s dollars rolling through the door!
Guru tip 1 – Incentivise a purchase by offering a gift. Depending on your margins, you could offer a dinner or day spa voucher, or even a chocolate heart for any purchase over a certain value. This will encourage customers to spend over the threshold and bulk out your sales for the month.
Guru tip 2 – If you’re in hospitality, customers are looking for a unique experience. Offer patrons a free drink or a small gift and make the margin back by putting together a set menu for the special day. Dial up the romance, dial up the profits!
Guru tip 3 – If your business has absolutely nothing to do with Valentine’s Day, try drumming up some more business by running a “show us the love” Valentine’s long weekend. Encourage your loyal customers to endorse and promote your business to their friends via their own social media channels, in return for a nice prize. Watch the positive vibes roll in!