“A mediocre person tells. A good person explains. A superior person demonstrates. A great person inspires others to see for themselves.”
An incentive is by definition something that motivates or encourages one to do something. In today’s extremely competitive marketplace, making sales can be a challenge. People are inundated with new products and services, and it is increasingly difficult to stand out. So what is one way to distinguish yourself from the competition and lead sales? Incentives!
Did you know that knowledgeable and courteous employees account for approximately 80% of the reasons that consumers feel satisfied and will come back for more?
Fewer than one in four American workers is working at full potential, nearly half surveyed have said that they do only what is directly asked of them, and up to 75% admit that they could be more effective in their jobs.
70% of customers that have had a bad experience with a vendor will abandon them and move on to someone else.
A 5% increase in customer retention can increase lifetime profits from a customer by 75%. Remember, we’ve talked about this before, it’s about building relationships.
So how can you use incentives successfully in your business?
· Use them to attract new visitors to your store or web site
· Use them to encourage repeat business
· Use them to improve Direct Mail Response
· Use them to Promote Closeout Inventories
· Use them for thank you gifts
· Use them to Upgrade Sales and Purchases
For Employee Incentives
· Use them to acknowledge Milestones and Achievements
· Use them as a reward to exceed sales goals
· Use them to increase employee loyalty
· Use them to reward employees
Remember, everyone likes to feel appreciated, so why not set the precedent and use incentives to inspire others to greatness!
Women and men of all ages and socio-economic backgrounds are turning to the makeup industry to help them look and feel their best. This would explain why the cosmetics and personal care industries continue to see a steady increase in profits from year to year.
What is trending in the beauty world in 2014?
Here are a few that I found interesting… Drinkable skincare for one. Most of us are obsessed with anti-aging, the term growing old gracefully has long gone out the window. The good news is we can forget about having to slather on the anti-aging collagen creams over our overexposed skin. Companies are now introducing Hyaluronic Acid drinks, and collagen boosting liquid supplements are now readily available. Granny perfumes are another new trend for the year. Perfume makers have been working to come up with modern re-interpretations of scents our grandmothers used to wear. So look for scents like rose, violet, gardenia and jasmine to be popular again. I find it a bit of a paradox that we want to look young but smell umm…nostalgic? But hey, that’s just me! Last but certainly not least in my opinion is the Russian banyas (saunas), the latest trend in wellness…in Europe anyway. The steam is supposedly more hydrating which helps with the detoxification process….but here is where things get interesting.. The treatment also involves being lightly, dare I say “whacked” with birch, oak or eucalyptus leaves and twigs to help improve circulation. I’m not completely sold on that one yet, not really my idea of a relaxing day at the spa.. but I may come around.
People are continually seeking new products and treatments to improve their well-being. Every season brings new color palettes, and every year brings new trends geared towards improving one’s self -image. The one constant in all of this is that manufacturers need to come up with clever, unique packaging to go with their new and improved products. Custom Displays will always be an integral part of the equation, as you want to showcase your innovative new product in a way that gets it noticed. Especially is this evident in the cosmetics industry. How many retail stores that sell makeup do you walk into that have their products concealed behind cabinets or in drawers? Most are beautifully presented in an acrylic or plexi display case so as to capture a consumer’s attention as they walk by. The bottom line is that your brand’s success depends on your ability to market your product from packaging to display, so make it stellar all the way around!
I was talking with my sister on the phone the other day, when she interrupted me from her excitement over her recent impulse buy of black, glitter nail polish. She had gone to the store for some soda, when she explained that she saw this new nail polish sign. She’s not terribly familiar with all of the display marketing lingo. Anyway, after some probing, I found out that she was attracted to this new color of polish because of the display.
Custom displays help by providing that “wow” factor. Visuals convey the power of ideas in a way that words alone cannot. The personality of a retail store is not determined by merchandise alone. Custom displays provide the following benefits when properly designed and deployed.