Tuesday, October 7, 2008

Taking Advantage of Slow Sales Periods


Sonic, a chain of drive in restaurants popular in the south, is running a half price special on drinks from 2pm-4pm. At our local Sonic drive in, every bay is full during those two hours – it is a madhouse. They sell a bunch of drinks – which even at half price they make money on. And they take a slow time of the day, and turn it into a profitable time. Starbucks has tried the same thing: buy a coffee in the morning and receive a coupon for a $2 frozen drink during the afternoon.

Are there soft times during the day in your industry or segment – or certain days of the week that are slow? What can you do to increase traffic during those times?

For example, a children’s clothing store could run a “Grandma special” from 10-11 am: show a picture of your grandchild and get 10% off. What grandmother could resist?

Marketing does not have to be expensive – it just has to be focused on your target: what can you do to better reach them (and make them go out of their way to get to you!)

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