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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This week's tip: Do You Make These 5 Mistakes?
by
Flora M. Brown, Ph.D. Copyright 2007 All rights reserved 1. Undercharging for your services.
Don't make the mistake of thinking you can start with bargain prices to win orders away from your competition and then raise prices later. Just as in any relationship, the way you start off sets the tone. The customer who complains about your prices is not your rightful customer. Learn how to price your baskets for profit.
2. Waiting for customers to come to you. No matter how dazzling your designs may be, they won't sell unless you go after customers. Each week you must complete tasks that bring customers to you. For many that means networking with other business people regularly. You may prefer to introduce yourself in person to the tenants of business complexes in your area. Or purchase a mailing list and send out your fliers or brochures.
Once you build a clientele you must follow up on orders and keep them reminded of your service. My favorite way to do this is with postcards.
3. Hesitating to go after corporate clients.
Corporate and small business clients are your bread and butter. They buy gifts and gift baskets throughout the year. Unlike the general consumer, they have a budget and will spend it to promote their company, cement business deals and show appreciation. If you don't let them know the corporate decision maker know you exist, she'll buy from the services who have approached her.
What are you waiting for? Learn low-cost secrets to landing corporate accounts from a former insider.
4. Buying inventory you like rather than what your target market wants.
This was one of my biggest mistakes in the beginning. Cowboy- themed products are eye-catching, for example, but will sit on your shelf forever if you never have a request for such a theme, or a custom design where they will be appropriate.
Learn the what, when and how of buying inventory.
5. Trying to go it alone.
Always work on learning more and more about the business and design side of gift baskets. Get to know other basketeers with whom you can exchange ideas and sources. Subscribe to magazines and invest in books, classes and consultation.
When you attend tradeshows, go with a plan to not just order inventory, but also to learn from free or low-cost seminars and get to know other attendees and sales reps.
Whether you're looking for gourmet food, pamper products, wrapping supplies or themed items, let our product directories save you countless hours of searching for themed products and supplies.
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Find out what to put in your gift baskets in time for Administrative Professionals Week, April 22-28. Get our new directory, Great Gifts for Administrative Professionals. You'll get loads of pages of wholesale companies as well as beautiful, color images of 8 designs with descriptions. Get yours now. You'll be able to download your copy as soon your order is paid.
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Click here to read previous issues of this newsletter or Keep up with the gift industry and stay inspired. Read my latest blog about missed opportunities. PERMISSION TO REPRINT: You may reprint the tips from the Gift Basket Business World Newsletter in your own print or electronic newsletter. But please notify us where they will appear and include the following paragraph at the bottom of the tips. If you like these tips, please pass them on to your friends, clients and colleagues.
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Copyright 2008 Flora Brown Associates