Little pockets of softness are showing up on the West Coast; since July, open play has slowed not dramatically but noticeably. Now, moving slowly eastward like a lumbering freight train, not too fast, but moving.
Why is this happening?
People are starting to run out of discretionary money.
Sure, they are still buying and consuming, but they are buying more essential items vs. entertainment options. And who knows the effect of interest rate hikes on the consumer’s purchase psyche? I am no soothsayer, but me thinks it is not a positive vibe.
And with the holiday season soon in full swing, will they buy presents or go bowling? Will you sell gift cards and company parties as your primary strategy for the next 60 days? I certainly hope so,
Nothing to panic about, just be aware. If you’re not in these hot pockets yet, count your blessings, but know, the coach might soon be asking for your playbook.
- Get back to basics and make sure your older staff and newer staff are practiced in being consistently customer service-centric.
- Double down on corporate sales. Return to past customers via email, Facebook, YouTube videos, Instagram, TikTok, snail mail, and phone. Use your digital arsenal in a planned and systematic fashion.
- Communicate with your existing customers at least twice a week. (recommend Mondays and Thursdays), tell them about your weekly and weekend programs, and offer digital coupons – if needed – for the next week or weekend.
- Create exciting offers that capture your customers’ imagination and wallet.
- Be part of the fabric of the community. Conduct a BVL fundraiser during the “November is BVL Month in America” campaign. Support your local Veterans and let your community know what you are doing. Go to www.bvl.org for many free “done for you programs and promotions.
- Last but certainly not least, create value. If you wouldn’t buy what you are marketing or your relatives (young and old) wouldn’t buy it…don’t sell it.