Business Tips and Tricks, Hope Wissel

Is FREE Worth the Cost?

Friday and the start of the weekend….some of you may be hosting parties while others are trying out vendor events to expand your customer base.  In either case, we are looking to grow our business and in our eagerness we sometime give away too much.  I have to admit that I am guilty of this. So, I went on a hunt to find some tips for offering incentives WITHOUT hurting sales or in some cases cutting your price….

Direct Selling Education Foundation offered lots of tips in a recent article with my favorites are:

  • Loyalty Programs – Every time a customer places an order with me, they receive a “frequent shopper card”.  After 5 purchases of $31 or more, they are entitled to a discount on the 6th purchase of $15.  I have some regular customers who absolutely LOVE this bonus.  Here is the money side of things – 5 purchases x $31 = $155 at 25% commission = $38.75 – $15(discount) = $23.75.  Yes, there is a slight cost but in the long run – it is great for building a relationship with your customers.  Even though customers that purchase once online, I send them a thank you card AND a frequent shopper card.  Who knows where your next loyal customer will come from, right?
  • Free Gift With Purchase – Everyone likes something for FREE no matter how small the item.  I often offer a Thirty One Key FOB with a minimum purchase of $75 or a FREE nail file with a $35 purchase.  Both of these items can be purchased at a discounted rate as a consultant or I can add it to the customer’s order and receive a commission on it.  I have also made various crafts (magnets, coasters, angels, gift card holders) with our retired prints that I offer as a FREE gift at some vendor events for placing an order.  The cost is minimal and lets the customer know how much I appreciate them.

A Thirty One product experience allows an individual customer to try our products in the comfort of their home without having a party.  Just for allowing me to come into their home to share my products, I now give them a small gift (usually a key fob).  This has been a great way to increase sales and build relationships with customers who LOVE our product but are NOT party people.   In some cases, I have had orders well over $200 while in other cases it has only been a $35 order – either way, it is a great way to build customer relationships.  When a customer is placing a large individual order (just shy of a $200 party minimum), I will add an outside order to make it a party and offer the customer the FREE or half price item typically available to a hostess.  With no cost to me, the customer is grateful for the FREE bonus and will remember it when they are ready to shop again.

Incentives are a great way to connect with new potential customers but you don’t want to GIVE away everything for FREE.  Then why would I shop, right?  Think outside of the box and there are endless possibilities.  What are some of your ideas?  Please share them with us.

Have a ThirtyOne-derful day!

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