My Gift Basket Income Dropped. Now What?
I’m hearing and reading about how corporate clients are cutting back on ordering gift baskets.
This may not be happening to you, but it is a situation that some are facing this holiday season.
Earlier this week I wrote about Terry and Wally August and how their income decreased (so far) this year to $1 million from $1.3 million in 2005.
This week I also read an article on a Nashville, Tennessee television Web site about a gift basket business with a 60 percent drop in sales.
“When people order basket they want more of a $25 to $30 range baskets instead of maybe a $50 to $60 range basket,”…
Some customers cannot be cajoled, convinced, or influenced in any way to spend more than or as much as last year. You know that. But what are the options to try and get clients to order?
The bottom line is to offer incentives, perks that won’t bite into your budget but be seen as valuable to buyers.
The fact that your customers want to stay in business is the exact reason why giving gift baskets to their loyal customers is imperative. This is what you tell them on the phone, by letter, through postcards, and on your Web site.
A drop in income calls for an increase in client communication. That’s your action plan.
Does Your Bank Manager Buy Gift Baskets?
Years ago, just before Christmas, I delivered two gifts to two different managers at the same bank I visited often.
One manager received a small gift basket with biscotti, cookies, and a few more snacks packaged in white and gold colors. The other manager received a chocolate box with chocolate espresso beans beneath the lid.
Earlier in the year, I spoke with each of these managers and learned about their preferences so these marketing gifts would make a strong connection. It worked.
I not only received telephone calls from each manager later that day (I made my deliveries during their lunch hour), each manager ordered several of the gifts I delivered for bank clients.
This was one of my first corporate sales. It was gratifying to not simply be a bank customer. Instead of only making deposits and withdrawals, I was also making sales.
Do you know your bank’s manager? This person is in charge of increasing customers and bank deposits. Single gifts and gift baskets can become part of their sales arsenal, but that relationship won’t blossom unless you take steps to make it happen.
Here’s how to start.
1. Meet with the manager during your next visit to introduce yourself and learn about bank services you may not know exist. During the conversation, explain to the manager the importance of your service.
Focus your pitch around the goodwill and benefits of customer acknowledgment rather than talk solely about gift baskets. That will get their attention.
2. Make eye contact with the manager each time you arrive at the bank. Wave at him/her when your eyes lock and continue with your banking.
3. Wrap one of your holiday-packaged products and give it to the manager in December as part of your own goodwill. This may lead to additional sales this year and next.
Not all bank managers have buying budgets, and not all will “get it.” However, the benefits may lead to personal sales from bank staff and customers who happen to be there when you are.
This is how you bank on your own success.
Focus on Increasing Your Gift Basket Sales
How are your summer sales progressing? If you created plans earlier this year to promote your gift baskets now, sales may be better than last year’s. It’s not an easy task, especially in this economy, but:
1. Individuals continue to buy gifts for occasions from birthday to bereavement. Your smaller mug and container gifts may sell briskly.
2. Corporations are still going after accounts big and small. Gift baskets help them to put their best foot forward. This is a key factor in your promotions to them.
3. Charity events are in full swing, and donated baskets provide you with a way to show off your designs to a new audience.
This week’s newsletter shared other tips to increase your profits now.
This is all good news for you. Move in the direction that makes summer sales spectacular.
Now here’s news from the online gift basket world.
Flora Brown of Gift Basket Business World provides inspiration to start a Web site or give the one you have more impact. Read her blog post, and sign up for her free e-course, which you’ll find just below the article.
I’d be mad at Flora for taking this side picture of me at my California Gift Show seminar had I not shed some pounds the previous month, but we’re still friends, and I’m still a work in progress.
Lorie Obernauer of Apex Gift Foods gives you a heads-up on a new line of holiday table decor. Don’t think you have ample time to order before the holidays; stock goes quickly when the word gets out.
Lorie’s information is right on time for Laura, a gift basket designer who asked me where she can find these and other products. Read her question and answers posted by other designers at Ask The Gift Basket Expert.
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