FOCUS ON Home, Building and Office Services
CREATE YOUR OWN
CURRENCY
This is your store's own parallel cash, or
one that you share with several other
non-competing retailers. To work well,
it needs to be a community effort/local
store marketing effort with numerous
outlets being involved; or with a large
franchise that has outlets across the
country. Give away, say, 'Durbanville
Dollars' as a cash-back incentive that
can only be spent in the local community
at pre-determined retailers. Perhaps
100 Durbanville Dollars equals R1. This
currency could be coins or numbered,
watermarked paper 'money'. The
businesses running this promotion would
place in a trust account the equivalent
in Rands with which to refund the real
money to participating retailers. The
retailer would receive 95c real money
for each Durbanville Dollar redeemed
through their outlet – that is about the
equivalent of a credit-card fee. The
corporate equivalent is incentives like
eBucks etc., but if managed well, this idea
can also be a powerful neighbourhood
marketing opportunity.
In this issue our regular contributor on neighbourhood
marketing tips, Basil O'Hagan, gives some creative food
for thought on how to stand out from the crowd...
To order Basil O'Hagan's book 415
Action-Packed Neighbourhood
Marketing Tips or to have him speak
at your next event, contact 011 467
2358/083 412 4459, email:
[email protected] or visit:
http://www.bohmarketing.co.za.
OUT OF THE BOX
marketing ideas
BOX CLEVER WITH
PROMOTIONAL MATERIAL
Today there is a wealth of point-of-
sale and merchandising material out
there. Thanks to advances in printing
and materials, just about anything can
be branded. So be creative! You could
brand a massive couch, and have some
young ladies chilling on it next to a major
intersection - the possibilities are limitless.
Indoor promotional material includes X
Banners, pop-up banners, Z-Up banners,
hanging banners, demo tables and
branded ottomans. Outdoors, you could
look at gazebos, sharkfin, or teardrop
banners, telescopic banners, double-side,
pop-up A-frames, branded umbrellas,
director's chairs, back-pack banners and
X-banners. If you're a franchisee, your
head office may have these available, but
it's worth investing in branded items of
your own. Just one teardrop banner on a
corner might be enough to lure someone
beyond the stop street and into your shop.
PREMIUM POSITIONING
In many markets, especially in
economically challenged South Africa,
it's best to compete on price. However,
in other segments, it is premium brand
positioning that sets you apart. An Aston
Martin dealership, for instance, will never
try to compete on price against the Toyota
dealership down the road. They quite
proudly price their products at a level
only affordable to the super-rich. This,
combined with the quality of their cars, is
part of what gives their brand its power.
By extension, in every store it is also
worth having some premium offerings. In
your store, you might not want to discount
every item. Sometimes it's good to also
have premium-price products and services
that appeal to customers who want only
the very best.
Here are some examples of premium
options in otherwise affordably priced
stores.
▪ An imported dress
▪ Apple electronic products
▪ Golden-circle concert tickets
▪ Top-end shock absorbers that will last
a lifetime!
▪ Fillet steak
▪ Single-malt whisky
PREMIUM PROMOTION
A good way to encourage customers to
spend more is to institute savings that
only kick in after a certain expenditure.
This is a premium promotion. For
instance, South African beverage vending
equipment company Adapt Group held
a promotion where they gave away an
attractive 12-pack cooler box worth R1
700 for every online purchase that was
greater than R15 000. Better than just
a free gift, this would be a personalised
cooler. The cooler box then also becomes
an exclusive item, not just a freebie.
When your target audience lives in close
proximity to your business, there are a host
of marketing ideas that can work simply
and without too much fuss. Let us know if
you have had any luck implementing some
of our tips so far!
Basil O'Hagan