Today, several hundred years after Valentine’s Day was first celebrated as a liturgical holiday, commercial enterprises the world over have done an excellent job of getting customers to spend a little more money than they normally would as a demonstration of love and friendship.
Do you own a business that could have attracted more customers and made higher sales on or around Valentine’s Day?
If not, is there some other holiday or occasion during the year that could present your business with such an opportunity?
Last week, dining establishments offered Valentine’s Day “special menus” for couples, florists found it difficult to keep up with the demand for flowers, supermarkets sold more chocolate than they normally do and romantic greeting cards literally leapt off the shelves.
Not to be left behind, radio stations held a variety of love-themed contests for listeners who tuned in and even the movie theatres sold couples’ tickets for the romantically themed movies they showed on February 14.
All the examples above illustrate the ways in which different businesses make the most of an occasion on which customers are predisposed to spend a little more than they normally would.
Religious holidays, birthdays, special personal occasions like engagements and weddings, as well as days that are generally viewed as having been made special by greeting card companies (to increase their card sales) all fall into this category.
The latter include special days like Mother’s Day, Father’s Day and yes Valentine’s Day to mention a few.
If you have a deep understanding of your customer’s preferences, you are in a strong position to encourage your customers to spend a little more during those occasions and thus, boost your sales.
This is not to arbitrarily advocate for raised prices in the manner that our transporters do during the Christmas season.
Rather, it is to encourage you to think of ways in which you can get your customers to spend more and thus purchase more of what you have to sell.
Restaurants for example, promote couples’ meals. If you make hand-made greeting cards, in addition to the Valentine’s Day cards that you make for couples, might your customers be interested in buying lower priced Valentine’s Day cards for family members or close friends?
If yes, instead of buying just one card from you such a customer could end up buying three or four.
If you are a florist, instead of focusing on selling just bouquets of roses, have you considered selling individual stalks too, for the gentleman with a smaller budget or for the buyer who would like to get single stalks for his sisters?
If a lady walks into your hairdressing salon for a hair treatment, interest her in a manicure as well.
Spend some time thinking about the additional products or services your customers might be interested in on those special occasions when they feel like spending a little more.