Advertisement Ideas: Finding Your USP!!!
In the many years that I have worked for entrepreneurs I have always asked before I started working with them is what do you want to be know for as a business? Many times they do not have an answer so I explain the importance of having a unique selling proposition? I take it further and ask who do you want to reach? Again many make it to broad that they get stuck trying to reach everyone when in reality if they created a niche market they would be more successful. Recently I had some tell me I want to reach all sports fans. I said this was to broad how about narrowing it down to I want to reach sports fans aged 14-54 who support local teams and who will spend on average $30. In doing this you narrow your audience and can stay ahead of the curve in your industry. As I have been involved in the retail apparel industry and have excelled I know what people are looking for and how important a unique selling proposition is. In 1988 when I went to work at The Oaktree Men;s Clothing Store I saw the unique selling proposition that they had as they sold a brand called Cosi Crest and were the only store where this brand was available. Cosi Crest was a brand that gave consumers an alternative to Zcavarici, which Oaktree also carried. In being the only store with a particular brand Oaktree was able to capitalize on the market. I went on to work for Merle Harmon’s Fan Fair a sports apparel and memorabilia store when baseball card collecting was having a major growth spurt and when team apparel was all the rage. Our unique selling proposition was that we could get any teams apparel in any league so when a customer came in for San Diego Padres Jackets at our Boca location and we didn’t have them in stock we could go to the catalog call the company give them our vendor number and place the order. of course we received payment up front. My most recent jobs have been with sports memorabilia companies with retail store fronts and the one thing I noticed with both companies is that they do not have a unique selling position. One company recently relocated and changed its name and began to market itself as the place to find vintage items and as a result by creating a unique selling proposition are moving forward in a positive direction. the other company is still finding its niche with a second location and once they have a unique selling proposition will do well.
The key to building your brand and increasing your revenue is to find a way to stand out among the crowd and be known for something that the consumer desires. If you capitalize on the current trends and look at what will trend in the future you can become very successful. I have learned that when you have what the consumer is looking for and you create a unique selling proposition you find success. There is an adage that you have read about in previous posts called strike when the iron is hot. Continue reading Advertisement Ideas: Finding Your USP!!!
In all of the business classes and seminars that I have attended this is a recurring theme. The idea is to understand that marketing is an investment in your business. The key is to spend your money wisely so that it leads to an increase in revenue. In my over 30 years of working for businesses I have seen those willing to spend money and invest succeed while also witnessing those who would not spend money or spent money incorrectly and failed. When spending money you must look at what you want the money you are spending do for you. You must have a plan that will create a return on your investment over time.
How many times have you been working and it has been approaching time to close up and go home and you could wait to leave? Many times we are is such a rush to get out and go home that we leave money on the table and instead of turning a customer on and having them buy something we turn them off. I have found that as long as you have a retail operation you can not be in a rush to close. This came to fruition yesterday (4/30/2016) when I was finishing up an 11 hour day at Celebrity Sports located at 1825 N.Pine Island Road in Plantation. I had been posting specials being run during the moving sale all day on Facebook on The Celebrity Sports Page but sales were lacking. At about 9:45 PM a family came in and started to look around and like many potential buyers asked how much something was. In this case it was The Dwayne Wade signed Jersey that normally sells for $999. I told the customer it is normally $999 but because we are moving I could sell it to him for $750. I went back to interacting with his kids and he came over and said If I can do it for $725 he would take it. I called my manager to get approval and the manager said yes. I sold the piece did all the paperwork and as they were leaving his son saw The Dwayne Wade Finals Jersey Swatch Piece it wasn’t in the system so I called the manager who told me it is normally $99 but I could sell it for $65. I told the customer he said I’ll take it. In not rushing the customer and staying open about 15 minutes later than normal I sold $790 worth of merchandise. I share this with you so the next time you are dreading working a long shift and rushing to close that you stay a bit longer as you never know when that browser will become a buyer. As the customer was leaving he asked about any Marino Items we may have as his business partner has a birthday coming up. As a result of not being in a rush to close I not only made 2 nice sales I am confident that I will have future sales.
Even though Celebrity Sports is moving from its current location and having a moving sale I have learned that it is important to be nice to everyone even those who are only taking pictures and browsing as you never know what will lead to a sale. In not rushing to close and taking time to know who is walking into your retail establishment you will begin to drive more business as people will begin to speak highly of your business and bring you future business. Though you can not live on be backs and empty promises you must not be in a rush to close. I have learned over the last several months that it is important to create a good feeling for everyone who comes into the store, calls you on the phone, or stops by your booth at a special event. I have learned that whether in the store or representing the store at a special event that is imperative to stay till the end and sometimes work past closing if necessary.
As Celebrity Sports transitions and moves to a new location I hope the lessons I have shared here will translate to your business and show you that it is important to market, deliver outstanding customer service, and not be in a rush to close. Look for other lessons learned from Celebrity Sports like the importance of networking, paying it forward, using social media, having a great tagline and creating urgency. remember to be consistent in your message and not to rush to close and you will have success.
I have always thought of myself as a problem solver. I have found that those who put judgement and EGO aside and listen to me become successful as I come up with practical solutions. In today’s market place if you do not have a web presence you need to develop one by defining your target audience and giving them a reason to come to your store. I have found that those who think they know everything stat to lose everything because they are not open to outside thinking. The solution is to see what is working in the industry you are in and find a way to be a step ahead of everyone else. If you are a sports related store you should be doing things that are sports related in your marketing for example You know every March that The NCAA Men’s Basketball Tournament Takes Place and is referred to as March Madness so why not do a special March Madness promotion that appeals to those who follow the tournament. Every day there is a special day designated on the calendar so look up the special days and do promotions around the day. A great resource for marketing ideas is Heidi Richard’s Mooney’s Book Quirky Marketing Ideas.