The word BRANDING on a white brick background, representing the importance of brand values.

Why Your Content Must Reflect Brand Values for Increased Customer Loyalty

by BlogEdmiston Group

Are your brand values reflected consistently in all the content you share? If not, you might be alienating prospects and customers alike. Incorporating your values on topics relevant to your audience helps build an important connection with prospects and customers. According to the article, The New Science of Customer Emotions in Harvard Business Review, customers who are fully connected to a brand are 52% more valuable than those highly satisfied but not fully connected.

Your content is often the first interaction your potential customers have with your brand. Your content also keeps your existing customers engaged. Therefore, it’s important that your brand values are shared authentically and consistently to support building this emotional connection.

Understand the Importance of Brand Values

The core values of your brand have a direct connection to customer loyalty. There are several reasons for this. These values act as a compass, guiding you through your content creation, brand story, actions, behaviors, and business decisions. Managing a brand without the guidance of brand values often leaves customers confused and leads business decisions astray.

According to Consumer Goods Technology research, 82% of shoppers want to buy from brands aligned with their values. 

If your brand values are inauthentic, inconsistent, or not aligned with your business practices, your business is losing out on growth opportunities and on long-term customer loyalty.

Follow these 3 Steps to Improve Your Connection Between Brand Values and Customer Loyalty

STEP 1: Define Your Brand Values

Your core brand values are the foundation of your business’s identity. They represent the beliefs and principles that guide your business’s actions, decisions, and how you show up and interact with your customers. These values are what differentiates your brand from your peers. They are non-negotiable.

In today’s culture, it’s more important than ever to be authentic with your brand values. Think about the brands you engage with and support. Consumers want brands with a human element, not an idealized version of perfection.  

If you are looking for ideas as to what types of brand values have proven to be successful, you can find samples of core brand values at the bottom of this article by Brandfolder.

Step 2: Practice these 3 Key Aspects of Reflecting Brand Values in Your Content

Once you have fully defined your brand values, it’s critical that you incorporate them into your content in the following ways.

  • Authenticity. Authenticity builds trust. Use words that are aligned with your brand and that have meaning for your business. Write your content message to a single customer profile to build stronger connections. Avoid being opportunistic by jumping into conversations outside your values, such as social causes when you have no history of talking about. 
  • Be clear. Connecting with your audience requires your content to be relatable and easy to understand. 
  • Consistency. You want your customers and prospects to have a similar experience across all fronts when they engage with your brand. Therefore, it’s important to ensure consistency across all platforms. This includes your website, social media, blogs, email marketing, print articles, and ads. Confusion is not your friend when it comes to building brand loyalty. Consistency is.

Step 3: Strengthen (and continue to be consistent)

After defining your brand values and using them in a consistent, clear, and authentic manner across platforms, it’s time to strengthen your brand values even more.

  • Engage and listen to your audience. Listen to feedback from your audience to gain valuable insights into how your brand values are perceived. You can do this by monitoring social media, creating a survey, or simply talking with customers. Doing so allows you to adjust or fix issues by refining your content before there is a larger misperception or problem. 
  • Reward loyalty. By incorporating your brand values into your content, you’ll attract customers who are aligned with your brand. This plays towards creating a foundation of strength from the first interaction. It’s then up to you to continue nurturing relationships by following up with customers and showing appreciation such as through a rewards program. Like any relationship, appreciation goes a long way to extend the relationship.

Follow these steps in creating content that supports your brand values and you’ll enjoy the lasting benefits of sharing value-aligned content that attracts new customers, helps retain existing customers, and builds a sense of belonging, community, and connection. In other words, growing your business is also all about building relationships. And that’s a win for everyone involved.  

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh-based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

Refresh Your Business 2 - printed paper on blue background with text Finding Original Creative Unique Solutions

3 Ways to Refresh Your Business

by BlogEdmiston Group
Refresh Your Business 2 - printed paper on blue background with text Finding Original Creative Unique Solutions

You’ve worked hard to build your business. But as with life, there are ups and downs. If sales have been slowing and you feel like you are losing touch with your customer base, now is the perfect time for a change! It’s time to “Refresh” your company brand, messaging, and/or product. Small changes can go a long way. To successfully refresh your brand, you need to rethink your approach to your product, story, marketing materials, and your messaging to your customers.

1. Refresh Your Brand

When a brand sells products, it’s selling a story. When consumers buy products, they are buying into this story. It is important to ensure your story stays current and relevant to the current marketplace. Keeping up with the latest trends will help you keep an edge over your competitors and show that your brand has the flexibility to better relate to your customers’ changing demands. For example, if your brand looks outdated, it is essential to review your marketing materials. 

Review your logo, graphics, fonts, flyers, and brochures. How do they look? Are they appealing in today’s business environment? Do they represent excitement or boredom? Is your messaging consistent throughout all of your branded material? (see point 2 below). You want all these items to inspire your customers while still staying loyal to your branding story.

2. Refresh Your Messaging

Your messaging is the direct connection between you and your audience. Over time, your messaging has built trust with your customers. In return, the customer will thank you by purchasing your product. It is essential to nurture your customers. By making them feel important and showing you understand their wants, needs, or expectations with your products. you strengthen your message with your audience. 

How do you do this? Ask yourself, “What are your customers or clients thinking? What are they feeling? What are they experiencing? What are they focused on right now?” 

By refreshing your messaging with the answers to these questions in mind, you can reinforce this relationship and help avoid losing a customer if your customer resonates more with your competitor.

3. Refresh your Product or Service

Do your current product offerings still solve the needs of your customers? If not, you are not fully serving your customer base. Your products need to provide solutions and customer satisfaction for where they are today. In this ever-changing business environment, your existing products might have fulfilled a niche for your company and customers for years. However, now might be the time for a new product to create additional value for your existing customers. Introducing new products is a way to bring new life to your business and allows your audience to decide which product is right for them. Introducing a new or updated product can also result in increasing your market share and your revenue streams. 

Refreshing your business is a way to show your customers that you care about them, are inspired by them, and that your company has their best interests at heart. 

If you are considering refreshing your business this spring, call the Edmiston Group at 724.612.0755. The Edmiston Group will help your business update or create a new voice and vision!

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh-based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

business-growth

3 Tactics for Business Growth This Spring

by BlogEdmiston Group
business-growth

Spring! What a wonderful time of year. Even amid very challenging times, there’s growth. The trees will fill in once again with green, flowers will bloom, and the air will be filled with the fresh scent of spring. So how can you focus on business growth to bring this same freshness to your business this spring?

1. Know Your Audience

There’s more to knowing your audience than filling in an avatar sheet. If it’s been a while since you have sat down and defined your audience, from their age, socioeconomic status, to their basic beliefs and interests, start there. But that’s only the start. If you want to focus on business growth this spring, what do your target audience and customers need right now? Is it better customer service, a new product, a phone call to see how they are doing, or even a word of encouragement? Maybe your audience is more financially motivated. What type of spring sale would be most aligned with their current needs?

The key is to know where your customers have the most needs right now, what will motivate them the most, and how you can serve those two needs.

2. Freshen Up Your Email Marketing

There’s no doubt you’ve noticed the ever-changing algorithms on social media, as well as more and more competition in your industry. While it’s important to be present on social media and to understand your competition, your email list is your one and only way to directly communicate with YOUR audience in the digital world.

LinkedIn newsletters are all the rage right now, but remember, LinkedIn can at any time stop or change how they distribute these newsletters. If you are not yet sending emails to your audience, now is the time to start! If you’re already communicating via email marketing, congratulations! Now take a fresh look at your email. How does it feel? Is it aligned with your current brand tone, your messaging, and your goals? Is it serving your customers? Look for ways to freshen your email communications to bring more engagement, more value and ideally, one-to-one communications as a result of your efforts. This is how you bring about business growth.

There are two other options for direct communication. They are direct mail and phone calls. Consider springtime campaigns that align your email, phone communications and email marketing for the trifecta approach.

3. Implement a Referral Program

Referral programs, when done correctly, can give bursts of business growth to any business. Depending on how you implement your program, your referral program can also provide long-term sustainable growth.

Referral programs can run the gamut of loyalty cards, discounts or gifts for both the referring party and the individual being referred, or even affiliate programs for strategic partners.

Loyalty cards are great for product-based businesses. If you use a loyalty program, be sure to include your branding, your messaging and above all, bring a sense of gratitude, fun or excitement to the program. Your loyalty program needs to have an emotional element for it to be successful.

Referral programs work well for service-based businesses. Before launching a new program, be sure your onboarding and all areas of your service are smooth and efficient. Find and improve any gaps. Your referral program need not be complicated, it just needs to benefit both the person doing the referring and the person they are referring.

Affiliate partnerships are an excellent option for those in the online space. The key here is to focus on the relationships, building partnerships with those with whom you share an audience and with whom you are aligned, and then using systems to manage the affiliate partnership. Too often, the focus is on using the system first, and not on the relationship.

So, if you are ready to grow your business this spring, take action right now. Pull out your calendar and schedule time within the next 10 days to review your audience, freshen up your email marketing, and implement a referral program. Then schedule time or hire assistance to implement your changes. Do this, and you will bring new life to your business and set the stage for business growth. And I can think of no better time to do this, than the springtime.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh-based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

focus red word and conceptual target

FOCUSED THINKING BRINGS ABOUT BREAKTHROUGH

by BlogCommunicationsEdmiston Group

The past few months have been challenging for business owners, yet some are thriving while others have given up.  What takes a business to a new level or a pivot in a business operation?  FOCUS and the ability to PIVOT your thinking to a new way of doing business.

Many businesses and organizations have shifted to virtual meetings, working remotely, and bringing about operational changes.  While one vertical line of business may not be as strong right now, other product lines are flourishing.

Manufacturing companies that have shifted to make protective equipment, are working multiple shifts to meet demand.  Distilleries and breweries that have pivoted their thought process to online sales and curbside pickups are busy.  Construction product suppliers that have picked up a PPE product line have an additional product to sell.  Clothing companies that shifted to making masks and fashion masks have developed new product lines.  The list goes on.

What do these types of businesses have in common?  They are open to new ideas and ways to grow.  By FOCUSING on the assets they have and PIVOTING their operations to utilize those assets to expand their services.   Those business owners are moving forward with renewed energy and resolve.

This challenging time has been compared to the Great Depression.  According to the Advertising Specialty Institute, those companies that continue to advertise when everyone else stops marketing are more likely to be noticed.  WHY?  Because there are fewer ads in the market.  “Firms that advertised during the recession increased in value and got more marketing bang for their buck…in some cases for up to three years after the recession had ended”.

Pulling financial support for your company’s brand can undermine revenue goals.  The better strategy is to go all in to understand customer needs and respond accordingly with tailored messaging across channels.  How do you do that?

Here are 5 tips to keep business growing:

  1. ASK

Layer these insights and information gained with the human element to get a deeper understanding of how target audiences will respond.  What is the value your company brings to the table to alleviate the pain point?  Do you even know where those pain points are?

  1. REDISCOVER YOUR BRAND

How are you different than the competition?  What new services can you offer or how can you shift your message based on the information you learn from your customers?  How can you position your brand to provide a sense of community while offering reassuring messages that demonstrate empathy?

  1. DEVELOP LOYALTY PROGRAMS

Reward consumers who purchase frequently and send targeted messaging to thank them for being a loyal customer.

  1. CONTINUE TO SHIFT AND INNOVATE

Embrace technology and commit to working ON your business instead of IN your business.  At a recent class I took, I was challenged to commit the first 30 minutes to 1 hour a day working on strategies to grow my business instead of working on other people’s businesses in their growth.  By blocking the time, I’m fresh in the morning to focus on how to grow my own business.

  1. MEASURE YOUR OUTCOMES

If you’re not measuring, you’re not marketing.  Know how people find you.  Advertise and be present where your potential customers are.  Be vigilant in your metrics tracking and reporting. Stay agile so you can adapt plans to reflect what you’re seeing. From there, brands can make messaging personal.

Keep a level head and commit to a long-term marketing strategy can help you flourish in the down cycle and be fully prepared to capitalize on the upswing.  Give people good things to talk about by continuing to have good products and great communication.

To quote Henry Ford…“A man who stops advertising to save money is like a man who stops a clock to save time.”

Let the Edmiston Group help you strategize how you can PIVOT and GROW your business.  Call 724-612-0755 or email Autumn Edmiston for a complimentary 30-minute phone consultation.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

Creative power and Powerful ideas business innovation concept with a red glowing boxing glove shaped as a light bulb representing strong innovative new thinking and competitive imagination.

ARE YOU PREPARING FOR A BUSINESS COMEBACK?

by BlogCommunicationsEdmiston Group

Creative power and Powerful ideas – new thinking and competitive imagination.

When there is a business halt, are you preparing for a strong comeback or sitting paralyzed in the silence? Because business owners are fearful of what is to come next, we often will sit back and do nothing. A business may never return to the way it was and just like the businesses that failed to embrace social media, those that choose to stand still and do nothing will lose.

Savvy business owners are taking this time to think of the future and what new lines of business or target clients they want to reach out to. Should their sales pitch change and if so what would that look like? Will the presentation desk, social media channels or website need updating? How will these changes impact their sales staff and will they need retraining? Could staff training be done remotely while the sales force team is working at home?

Try to work down the line deals. Now is the time to negotiate. If your conference has been canceled, negotiate rates on a tentative date to rebook the conference in the future. Pass along the savings to your customers to relaunch a successful event. Instead of doing nothing, you’ve become a problem solver.

If your fundraiser was postponed, can you create a go-fund-me campaign or an online event? There is so much need, you want to be certain your mission stays top of mind.

Meet your customers where they are. Yoga studios and gyms are providing online classes with instructors via Zoom and staying connected to their tribe through private Facebook groups. Chambers of Commerce are offering free classes on how to use Zoom. Restaurants have shifted from dine-in to take out and brick and mortar stores have opened on-line stores. Think about it. They have provided a solution to our present-day situation that could result in an additional revenue stream in the month’s ahead post COVID-19.

Barbara Corcoran, self-made millionaire, real estate mogul, and ‘Shark Tank’ star believes there is great opportunity in every crisis. She has survived 9/11 as well as other critical times in her business. “But here’s what I’ve learned on all these crises through all the years, Corcoran recently shared on her Business Unusual podcast. When things go south, they come back like gangbusters.”

Are you ready to breathe in and move forward to polish up your business? Let’s chat – give me a call at 724-612-0755 or email [email protected].

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

Businessman thinks of a new creative idea

NOT BUSINESS AS USUAL – COPING WITH COVID-19

by BlogCommunications

New Ways to Do Business Post COVID-19

The recent COVID-19 pandemic has changed the face of business. For retail establishments, many doors are closed to customers. Restaurants have shifted to take out. Essential businesses are operating in an adjusted work environment. Business operations have shifted online and business development personnel are reaching out through phone, LinkedIn, video and voice conferencing, and email. Health care personnel and first responders are on the front lines of the pandemic and are stretched beyond belief.

What does all of this boil down to? Do you wonder if life ever goes back to the way it was? Fear of what is happening and what may be yet to come fills your mind. Will you be able to pay your bills? Will your family be safe? Will kids ever go back to school? Will you have a job? The changes all amount to loss and the grief you feel about things lost.

I have also read positive things with social distancing. Families are once again gathering around the table, life is existing at a slower pace, families are hiking, businesses are helping each other by supporting one another through online gift cards, and manufacturers are shifting operations to provide health-related products and sanitizer.

Many business owners are pivoting and thinking outside the box to stay top of mind or to prepare for opening their doors again when the time is right. They are part of a solution to a problem. A supply company instituted an online order system that not only will work during this challenging time but can also be utilized as a sales tool for their salesforce moving forward. A consulting company set up call times for monthly lead exchange meetings. A construction company is leveraging this time to update records and connect via LinkedIn. A construction labor force company is taking this opportunity to update their website and set up processes for a newsletter.

These businesses and many others are looking at the situation as an opportunity to continue to reach out, or prepare for a major push once we are able to be “open for business” again.

As you look at your current situation, is the glass half empty or half full. Here are some tips to make the most of your new norm.

  • Review your goals – we’re still in the first quarter of 2020. Did you set goals for the New Year such as developing a vision board, writing a blog, or taking a class? If you haven’t set goals with target dates, perhaps now is the time to do so.
  • Learn something new – a new platform for online meetings such as Zoom or how to create branded images using Canva.
  • Read – books, online publications, and a little fiction just for fun. The most successful entrepreneurs are avid readers.
  • Listen – to podcasts from thought leaders and business coaches.
  • Join – Ted Recommends and receive TED programs and initiatives sent to your inbox.

I challenge you to step up and try something new. If your business has been stuck for a while, perhaps a business strategy session is in order. Maybe your website needs a refresh or marketing materials that need updating. Pick up the phone and give me a call at 724-612-0755.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

Email Marketing Tips for Effective Newsletters

Email Marketing Tips

by BlogCommunications

Email Marketing Tips for Effective Newsletters

No matter if you are a B2B or B2C, email marketing is a great way to stay in touch with current customers and business colleagues. There are numerous ways you can provide value to your recipients. They can receive special deals or coupons as part of a VIP program, or tips and education as a trusted resource provider.

Engagement makes all the difference with those who receive your email. Often I’m asked by clients, “Why can’t I just buy an email list and send it?” Businesses must stay compliant with the CAN-SPAM Act which was created to protect consumers from unsolicited email. This allows subscribers to opt-in from a signup form or text message program and a way to opt-out from your email. By not abiding by the CAN-SPAM Act, you run the risk of having your email blacklisted by the service delivery providers.

The value of information in your newsletter is key. We write content for our clients and it is important to research relevant topics and create content that’s personalized and relevant. For example, in our marketing calendar, we offer the first of the year we share monthly awareness events and marketing activities. By taking the time to plan out your strategy you know what you will focus on in the months ahead.

Subject Lines Count
Emails start with a strong subject line. Be specific on what the email is about and use a familiar sender name. Actionable subject lines inspire recipients to click on the email by instilling urgency. Make the subject line short and to the point. Shorter is better, and if the message is about an upcoming sale, delineate the specifics in the subject line. If it’s about something else, be specific once again. Bad subject lines are one of the main reasons why emails don’t get opened, so don’t be among that group.

Be Concise And End Strong
As an entrepreneur who does a fair amount of email marketing, I’ve learned that being concise and brief are the keys to success. Breaking up long pieces of information into short paragraphs and bullets help the reader scan the email and read and interpret the most important points.
Email marketing shouldn’t just be a bunch of words. Graphics, pictures and video help to increase click rates.

Include A Single Ask
The reader should know exactly what it is that you want them to do. Some actionable items may include

  • Click on a link to a specific blog post or website
  • Schedule a call with you using a calendar link
  • Redeem this coupon
  • Grow your social media followers.

The goal of your email is to prompt the reader to perform some follow-up action.

If You Aren’t Measuring You Aren’t Marketing – Track Engagement
Look at your reports. If you’re tracking engagement on your email marketing, you will typically be able to send the right amount of information to the people who are engaged the most. Lack of response to a potential customer signing up to learn more and the potential customer receiving a response weeks later, doesn’t leave a good first impression. If a valued client’s email starts bouncing as non-existent – it’s a good time to reach out to see who the new contact would be.

Solve A Problem
What is your customer looking for? Where are their pain points? Offering advice on solutions to problems faced by your customers or colleagues will provide valuable content to those who receive your email.
If your email campaigns are lacking luster, or you struggle with content ideas, we offer marketing strategy programs to help you get started. Want to learn more – give us a call at 724-612-0755.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

online-reputation-management

CONSISTENT BRANDING AND ONLINE REPUTATION MANAGEMENT

by BlogCommunications

online-reputation-managementYou’ve worked hard to build a good business and reputation, but how do you spread the word to existing and new customers? Are you being found online? Is your information consistent? Local SEO plays a role in helping businesses grow.

Through a new service offering, and by leveraging technology, the Edmiston Group can help you manage and maintain and consistent online brand and messaging. Think about all the business directories and online opportunities out there to put your business on the map. Be present, be consistent and be found!

Once people know you are out there, now you need to manage your online reputation! We help businesses preserve their brand and create a positive digital experience for new and existing customers.

Components of our service include:

  • We can integrate your business directly with 75+ business directories including all the top maps, apps, search engines, GPS Systems, social networks, and digital assistants, making it easy to update your business information in one fell swoop.
  • Know that you have control over how your business is promoted and listed over the entire web. You can continue to update and promote your business regularly with new services, imagery and/or special hours for holidays. Imagine if your business has to close last minute due to an emergency and drive relevant messaging. It would be important to let a potential customer know this as quickly as possible. You can ensure that updates are delivered immediately so your customers are always in the know.
  • With Reputation Management you can take control of your online reviews! Online reviews are necessary in today’s digital world and also help your businesses with local SEO if managed properly. Good third-party reviews help a business grow. People buy as a result of reading third party validation on service delivery. Being alerted to unfavorable reviews and responding to the customer before they go live is now an option. This service allows you to be proactive in making sure your online reputation is at the top of its game.

To schedule your online reputation evaluation, email [email protected]. We are offering a free audit of your current web listings and can demonstrate how it can be improved.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development, marketing, strategic planning and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.

restaurant-advertising

Cost of a Placemat

by BlogCommunicationsGuest Blogs
restaurant-advertisingW.G. Barrett, Restaurant Consultant & Guest Blogger

Holidays represent a time of year where restaurants, as well as retail establishments, can realize a spike in sales. Each year as seasons come and go many companies must determine what extra money they will spend on specific holiday advertising. For many restaurant owners, there is a constant battle of how they can lower their operating costs all while keeping the tables full day after day. Restaurant Consultant, Gordon Barrett has spent his career in the restaurant industry. Below I share my experience of how one restaurant owner learned the true cost of ‘saving’ money the hard way

The Cost of ‘Saving’ Money – One Business Owner’s Story

While advertising for holidays such as St. Patrick’s Day, Valentine’s Day, or even the Christmas season may cost you a little more, the reward may far out weight your investment. Be careful where you choose to cut your spending when it comes to advertising. Cutting advertising that costs a few extra dollars could wind up costing you much more in the long run.

Every year approaching the holidays, this client, let’s call him Joe, would order disposable placemats for his restaurant that advertised “Ask Your Server About Gift Cards” written in large print in the center of the mat. Joe knew he would gain about $7,000-10,000 in revenue from total gift card sales over the holiday season. The placemats with the gift card advertisements cost roughly an extra $14 a case, with 1,000 placemats in a case. Joe would typically order 6 cases for the holiday season.

This past year, Joe decided that he wanted to save on his holiday spending and cut back on ordering the placemats. He realized a savings in advertising on the placemats of $85 for the holiday season. Joe made this choice knowing he was a well-established restaurant with vast number of regular customers. He didn’t think it was necessary to spend $85 for advertising “Ask Your Server About Gift Cards” for the holidays. The result… without the gift card ad, he was shocked to learn that gift card sales dropped to nearly $2,500 in sales. Saving a little on advertising cost him thousands of dollars in lost gift card sales.

Now here is some additional food for thought. Not only did Joe lose out on gift card sales, but consider these additional scenarios: 1) some gift cards would never be redeemed providing him free income, 2) loss of gift cards to generate new customers that had never been to his restaurant and 3) loss of additional money spent by loyal customers buying more food than the gift card is worth.

While it is impossible to determine these questions without more input from his customers, Joe knows one thing, he lost out on thousands of dollars in revenue to save just $85. He has made me promise him to never let him skip out on the advertised placemats in future years.

Measure Your Marketing

  • Data Collection. Start with collecting data from your consumers. Create a simple survey or ask how customers heard about your business. This will help you to target the advertising which works best for you.
  • Small steps. Consider advertising through social media. This allows you to invest modest amounts of money to gain new targeted customers.
  • Follow up! Make sure that your customers are satisfied and ask for testimonials.

Remember that in business it takes money to make money. Cutting back on marketing is the first thing that comes to mind when owners think about reducing costs. There are many places to put your advertising dollars, but it’s important to track the results. Code coupons in different publications and monitor where those coupons come from. Invest in social media and watch your audience grow. Lastly, advertise in small ways, such as on placemats and table tents. Ask Joe…he’ll tell you about the $85 he has budgeted for placemat advertising for this year.

Want to learn more about how to increase profits, attend the Restaurant Reality Check Seminar on May 3rd.  Register here.

w-g-barrett

Blog by W.G. Barrett, Restaurant Consultant & Guest Blogger.

About the author:  Gordon Barrett is the owner of W.G. Barrett Consulting, specializing in restaurant consulting, rescue and rebranding.  With decades of experience, he helps restaurant owners understand the value of strong operational restaurant management, but also how to adapt to changes through web presence, social media and online marketing.   Using a Restaurant Reality Check approach, Gordon has helped dozens of restaurants improve their profitability.

Edmiston Group

Plan Ahead to Make the Most of Your Tradeshow (Part 2)

by ArticlesCommunications

Getting ready for a trade show can be overwhelming, but with the appropriate direction, pulling off the perfect trade show can be as easy as 1 * 2 * 3.  In part 2 of this 3-part series we focus on creating the perfect Display for your Booth.  Part 1 (Marketing Materials)   Part 3 (Promotional Products)

Step 2:  Prepare Your Booth with the Perfect Display

“3 Seconds!  That’s how long you have to capture the attention of a potential customer.  Grab it with an eye-catching display”

We talked with Lynne Arrington of Speedpro Imaging in Cranberry Township regarding best practices for selecting trade show display items.  Here’s what Lynne had to say.

Q: How far in advance should exhibitors contact you for new displays?  Lynne:  The ideal answer is the sooner the better.   6 – 8 weeks gives time to think about options and get feedback on proofs. Even when updating graphics on an existing display, time is needed to order replacement hardware.

Q:  What budgeting tips can you provide for deciding which display items to purchase?  Lynne:  Before selecting a display product, think about how long you will be using the display and for what purposes.  Do you want the display to be used repeatedly?  Can you repurpose the display and use it in your store, at a chamber event, at presentations?   Should the display be portable, should it have changeable graphics?  As an example, retractable banners stands can used to promote your brand or can be made for use with additional graphic cartridges that will promote a rotating theme or promotion.   Your expected usage will help to determine which display will best fit your needs.

Q: What is your #1 tip for creating the perfect display?  Lynne: Hone your message.  Your message should be simple, your graphics clean.  You have 3 seconds to grab someone’s attention, so you don’t want to overload information.  You DO want to pique interest.   Once your display has caught your potential customer’s attention, your trade show rep can get to work determining the best way to be helpful.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group ~ The Edmiston Group provides senior level marketing management services to businesses and non-profit organizations on a short or long term basis.  Core areas of service are business development, marketing, strategic planning and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business growth.