What value signals are you sending?

Posted by Rahna on May 22, 2008 under Strategy | Be the First to Comment

The economy is certainly impacting many areas of business. $4.00 for a gallon of gas has made people much more mindful of how they spend their money. This leads to businesses offering promotional programs and deeper discounts in order to woo money from the wallets ofAmerica.  

These days, you may be considering lots of promotional programs in order to meet your sales goals. Be mindful of what impact promotions have. It is one thing to offer something on a short term basis in order to see a lift in sales.  But if those promotional offers end up as standard, every day offers, they are no longer promotions. The danger in offering promotional programs is that you water down the value of your brand and you train your consumers as to what to the value is (or isn’t) for your brand.   Even with this economy, the products or services that you provide do have value. Be sure you have a clear strategy for the promotional programs that you offer and try to change them often so that consumers don’t get convinced that your product or service is of lower value.