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Entrepreneurs Sometimes It Pays To Be Flexible – Sometimes It Does Not

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Article Overview: Entrepreneurs are often told to be flexible in their approach to business, but often it is imperative that you are NOT flexible. Here’s a few examples.

Entrepreneurs Sometimes It Pays To Be Flexible – Sometimes It Does Not

Entrepreneurs are often told to be flexible in their approach to business, but often it is imperative that you are NOT flexible. Here’s a few examples.

When it pays NOT to be flexible.

Prices: Keep your standard prices at the same levels for several months. This makes your offers much more believable.

Customer Contact: Always personalize contact with your customers. Obviously when you have many customers much of your documentation is standard. But you must always add personal items such as their name, what they last bought from you and when. This makes your customer feel wanted and individually looked after.

Marketing Material: You should ensure that your products are instantly recognizable by using the same naming convention, logos, colors, fonts etc.

Advertising: Your advertising must always be targeted to your market and potential customers. Make sure that you have a marketing plan and locate places and publications that you target audience will congregate around. Don’t waste advertising dollars with a scatter gun effect – it does not work!

When it pays to BE flexible.

Offers: Keep your offers flexible- offer several levels of service as well as several payment plans.

Product Line: If you work in several similar markets, ensure that your products and marketing is tailored to meet these differing needs.

Languages: If you sell in several different countries or in a multi cultural area then consider putting your sales material into different languages and promoting staff that speak these languages.

Being Different: Sometimes being different makes you stand out. If you sell cooking items to a target audience of working mums, then offer free toys with them. This slightly off key advertising helps you look different to your competitors.

Be Logical – However Strange It May Be: Lastly always be logical in what you do so that your target customers feel comfortable buying from you. Recently a leading UK supermarket discovered that people who bought disposable nappies also bought beer! Not really logical until they worked out that harried new mothers often sent their partners out to buy nappies and they used the opportunity to buy beer as well. Putting crates of beer next to the baby section vastly increased their sales rate!

Good luck with your business!

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Article Tags: colors, different languages, flexible prices, free toys, logos, marketing plan, mums, naming convention, sales material, target audience, target customers, uk supermarket



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