To Be Like Retail or Not to Be…Hmmm
Happy Holidays week (for those who celebrate Christmas.)
Have you sat and pondered about the retail industry and how they’ve actually trained our human behavior?
It is a subject that I’m constantly fascinated by. Why do we buy stuff?
Back in the day when I lived in NJ, I went to the headquarters of Bed, Bath, & Beyond (BBB) to meet with a colleague. It was there that I truly saw what’s it like to run a business based on constant coupons and sales.
I thought it was an interesting idea that they always had so many discounts. I always got my BBB coupon in the mail, which seemed like every week.
When I needed something from there, I’d open the kitchen drawer and have like 8 or 9 of their coupons stuffed in there. Then I’d go through sorting them by the past due dates to find the one that was still valid.
Then I’d head over there.
What happened next was kind of interesting – when I checked out with the coupon, I shared with the cashier how I had to sort through my expired ones to find this one. Right then, she happily shared that the expired date didn’t matter (What?) and that I could still use them.
Well, there went my philosophy of having a clean “junk drawer” of BBB coupons!
Fast forward to today – BBB is still in business, AND they still send me coupons, granted, not as many as they used to. Plus, they have an app now and created a members program where I can get all my savings in there for a small annual fee.
Let’s look at the overall mindset that BBB has trained all its customers (including me) – “Don’t go into the store unless I have a coupon.” And “Don’t buy anything in BBB unless it’s on sale, or I have a coupon.”
This point is important and goes down to the question of “What types of buying behavior are you training your customers and clients to have when it comes to your business?”
Do you want your business to be more like retail and have sales, discounts, and coupons? Just know there’s nothing right or wrong with this choice.
Yet, there is something else to consider and keep in mind.
I purposely don’t ever have sales, discounts, or coupons for my business. The main reason is that I don’t want customers/clients to compare my business to a retail store.
Remember, retail has trained us with the coupon and discount mindset, especially during the holidays.
My suggestion is if you want to give your clients/customers something extra to get them to buy during the holidays – don’t use the retail terms of “discount, sales, our coupons.”
Don’t be like retail businesses. (Even if you have a retail business, think first before you fall down the trap of constant sales and discounts).
One thing you can change is to use terms like “savings,” “friends & family rate,” “holiday savings,” “gift,” and so many more.
Do you see and feel the difference in these words?
As an aside, the more I write, I realize WORD CHOICE MATTERS. 🙂
Like my email about Disney a few weeks ago – they call their timeshare – “Disney Vacation Club,” not a “timeshare.” And they’re not salespeople. They’re called “guides.”
The bigger question for you and your business is, as a mindful entrepreneur, when you connect with your mission, vision, and values – what type of business do you want to be?
Do you want to be more like a retail business like BBB? Yes, you may get some more sales, yet at what sacrifice to you, your team, and your business?
These are important points to think about and discuss.
Also, I want to be clear – I’m not bashing BBB for having sales and using coupons.
I’m suggesting to look at your business through another lens.
I would bet you’re not doing what you’re doing today just because of the money.
Sure we all need money to survive, and yet, it’s more than about money right?
If I can be so bold, you’re in business, and you’re here reading this because you want to make a big difference in people’s lives, you want to connect, you want to help transform, and make a bigger impact in the world.
So when it comes to holidays and special occasions – I’d love you to consider giving people gifts, bonuses, and sure a holiday rate if you feel you want to. Or if it’s something new, call it a founders price or first-time owner price.
Just be careful of how you’re training your clients and customers when it comes to your pricing, sales, discounts, etc.
I also wanted to briefly touch upon Black Friday and Cyber Monday. I think if you want to participate in this, (or maybe you have), that’s awesome.
The caveat is, I’d highly encourage you to NOT JUST to communicate with your clients/customers during that weekend. I got several emails from people and businesses that I haven’t heard from in over a year. Then they show up in my box with their hands out, looking for money.
This is not a way to build a relationship and a community. At the very least, you need to communicate with your people at least once a week.
The core reason is when you’re consistent and keep showing up in their email box, they begin to trust you. And when you don’t show up, they question that…
I’m gonna wrap this up (No pun intended!) by being completely honest with you. I had great hopes that I’d finish my Soulful Marketing Manifesto before the holidays.
Then life got in the way. We’re selling our home and buying a new one and well that just got a bit complicated. (I know what we’re thinking, doing that on top of the holidays!). We had to pivot on a few things. Then I had to move my booster shot, which cost me another day and a half.
My goal is to finish my manifesto and to give it to you as a gift in the coming weeks of the New Year.
I sincerely hope you have a magical holiday with your loved ones. I’m truly grateful you’re here on this journey with me.
And, note – I’m taking next week off to be with my family, so no email from me.
Here’s to an awe-inspiring 2022 – to love, prosperity, and fun!
Note: A little Mars Humor – If you want to know what you’d sound like on mars then you gotta try this out. We all need a bit more fun in our lives, especially during this pandemic holiday.
Plus, whenever you are ready, here are three ways I can help you achieve your business goals.
- Jump on a Free Call with me – It’s easy! Simply answer a couple of questions – then, you will get to my calendar. The reason I ask these questions is so that our call will be incredibly productive. I promise you will walk away with at least three things to help you transform your business immediately.
- Get my 7-Step Soulful Marketing System. It contains all my best stuff on creating and launching your products. Plus, you get proven templates, tools, and worksheets valued at over $4,056! Reply to this email, and I will send you more information.
- Work with me and get your course, product or service launched. Or maybe you want to create or increase your conversions on your online dream client/customer experience. Or if you’d like to work directly with me to get more clients/customers and launch your product… Simply send me an email and put in the subject line “Get launched”… and tell me about what you want to launch, and I’ll get you all the details.