You know the feeling. You need to capitalise on the holiday season to fill your cash register and give you some breathing space for that time of the year when trade naturally drops off.
For most people, that time is the Christmas period, or the Summer.
Each year, you wrack your brain to figure out just which platform you should use, in order to get the maximum return on investment.
If you haven’t been getting the results you’d expected, here are 3 rookie mistakes that are strangling your advertising success.
You love this product, and so do your friends, but no one seems to be buying.
Quite simply, you’re shopping for yourself. You aren’t selling what your customer wants to buy
Or you aren’t selling to the right person
When you first start out in business, you tend to be your own ultimate customer. But times change, you change, and you end up finding, that what used to be a great seller, now isn’t.
That’s why it’s super important to know exactly who is coming into your store, or onto your website, and to make sure that you have what they’re looking for.
It’s time to stop thinking about yourself and your friends, and start buying for your customer.
You’re compeitotrs are selling like crazy
You’ve been watching your competitors, and they seem to be flat out, with stock flying off the shelves.
You even share a lot of the same brands, so why isn’t your stock moving? What are they doing, that you’re no? What happened?
Well, it’s likely your competitors have more sales, because they got in before you on the advertising train.
Because they planned ahead.
They got their crap together, sat down, worked out their targets, where their customer was hanging out, and put together a plan, to sell product.
However, it’s never too late to start getting organised
You can grab my secret recipe for Holiday Season Sales Success
And rookie mistake number three:
Your advertising budget was unrealistic.
What’s that. You don’t HAVE an advertising budget. Well, go back to rookie mistake number two. Do not pass go. Do not collect $200.
When you’re working out your advertising budget, you need to know what a customer is worth to you. How much they spend, how long they stay with you and how often they come back.
It’s called a customer lifetime value.
You also need to have a sales goal.
If you don’t have both of these, you can’t hope to have a realistic advertising budget that will put you on the path to retail success.
So if you’ve been whinging about how great someone else is doing, it’s quite likely that they set themselves up for success.
They took some time, they planned out what they wanted, and how they were going to get there.
They knew how much they’d be selling, and how much stock they’d need to do so.
And if you think it’s too hard. That you’re no good with numbers, then the easiest way to change all of that, is to jump into the Boutique Academy