Don’t Make Marketing Decisions You WILL Regret
This is a perfect example of a marketing mistake made that will be regretted and leave a sour taste in this business owners mouth for any future promotions. For someone who is inexperienced in marketing and advertising, this story shows how small businesses can go under or become financially unstable with just one wrong decision.
Imagine losing a years revenue and then some with one bad decision in marketing. Not to mention the lack of concern or shear lack of caring that Groupon had when enticing this business owner to give a 75% discount on a product.
This is the reason I am always telling you to think about your marketing and what you spend. We don’t want to see a business suffer just to make a buck!!
Companies like Groupon, google pay per clicks and others like these, are the exact reason we offer the great deals we do for small and medium size businesses. Why rape the client upfront when you can work with them for a little each month and help them grow.
1. We don’t require you to give discount pricing or coupons to market yourself.
2. We don’t charge extreme pricing to help you promote your business.
3. Our goal is to market you so that you can make money and gain exposure.
4. Our goal is to teach you so that you don’t make these kinds of mistakes.
So when you see something that seems like a great deal or to good to be true… yeah it probably is or it will give you great results all the way to the poor house just like this mistake did for the bakery.
Happy reading. Would love you feedback.
updated 11/22/2011 5:33:14 AM ET 2011-11-22
LONDON — A bakery owner was forced to make 102,000 cupcakes after being swamped by customers taking up her cut-price Groupon offer, according to reports Tuesday.
Rachel Brown offered a 75 percent discount on 12 cupcakes, which normally cost $40 (£26), the BBC reported.
However, Brown under-estimated the popularity of the deal and was unable to cope when 8,500 people signed up for the $10 (£6.50) bargain.
- Brown’s Need a Cake bakery, which employs eight staff in Reading, U.K., had to bring in temporary workers through an employment agency to fulfil the orders, at a cost of $19,500 (£12,500) — wiping out her profits for the year.
She also lost between $2.90 (£2.50) and $4.70 (£3) on each batch she sold, the BBC reported.
“Without doubt, it was my worst ever business decision,” she told the BBC. “We had thousands of orders pouring in that really we hadn’t expected to have. A much larger company would have difficulty coping.”
So now that you have read the story, my question to you is “would you like some help with your marketing decisions?”
We consult on all media’s not just what we do. This way we can truly help our clients use the best form of media for their business.
Have a safe and blessed Thanksgiving. Be smart and think before you do… on all your marketing and advertising decisions, don’t make marketing decisions you will regret.