Seasonal Business Tips During Inflation

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

 

It is a bit of a tricky challenge if you're a business because this is your peak time, during the summer in New Jersey has a tremendous amount of seasonal businesses that come out and are doing the fairs and you know or the summer or the lake region attractions. And so they have to make their money during this time. And so it is the repeat visit that's going to help. And so when you sell something to a consumer, you have to market and sales expenses in order to do that. And now it's of sell the second thing, there is a marketing and sales expense. However, if you go back to the bundling that I mentioned, where you can sell the multiple things, you eliminate the sales and marketing expense from that second product. The next thing that you do is when somebody leaves, and they're exiting from your attraction or your place of business, you give them a coupon to–for a savings when they come back. Right, encourage that second visit, encourage that third visit. And the other thing that you can do is if you are in a community where there are other businesses, team up with your non competitive businesses, and offer coupons and discounts to your neighbor business as they leave so if I go into your breakfast restaurant, and luncheonette that's not open for dinner. As I leave you give me a coupon to come back for breakfast there. But you also give me a coupon to go to the dinner restaurant that's right next door, and they'll do the same. And so that's a cooperative way, where by lowering our sales and marketing expense, we can still do well even by offering that discount.

 

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.