Tag Archives: promotion

Trade secrets – most sales people give up too soon

What they don’t tell you about starting a business

People in businesses make far too many assumptions about how publicity materials are received by would-be customers. They think that communicating once is enough and then believe no response means no interest.

In reality, the message probably hasn’t even reached the intended recipient – real life and 101 other obstacles can get in the way of clear communication. Also, timing is everything – we don’t read estate agents’ publicity until we need to buy or sell a house.

A friend used to give his most potentially important customers seven opportunities to ignore publicity about his latest product before giving up (admittedly each one was worth about £50,000). My rule of thumb is to assume it takes three communications for people to register a product, service, event etc exists, and five for them to do anything about it.

So don’t give up too soon. This doesn’t mean pestering potential customers, it means some gentle reminders through different communication channels over a decent period.

For other Trade Secrets in this series, go to https://enterpriseessentials.wordpress.com/category/trade-secrets

Enterprise essential – pricing is about demand and supply

Charging different prices at different times, responding to changes in demand is OK. Airlines, cinemas and ice-cream sellers do it. A community café could do it to profit from affluent workers with limited time at lunchtimes to allow others who are time-rich and cash-poor to eat more cheaply mid-afternoon.