Mother's Day is a special occasion that many businesses seize as an opportunity to offer promotions and gifts to their clients. In this segment, we explore the insights shared by Pricing Strategist, Miki Wright; Esthetician and Business Coach, Crystal Ngozi; and Plastic Surgeon turned Wellness Coach, Dr. Susan Lovelle, regarding Mother's Day special promotions and the best gift ideas for clients. Here we share their valuable perspectives from the recent "Pricing and People of Color: Why Do We Undercharge?" Panel Discussion hosted by the International Beauty Show (IBS). A great question was asked, "Should I offer a Mother's Day Special?" The Panelist's answers shed light on how to add value, strategically discount, and make this occasion memorable for your clientele.
1. Adding Value with Discounts:
Crystal Ngozi emphasizes the importance of adding value to your promotions by offering discounts that truly benefit your clients. For instance, she suggests offering a new client special, such as a 10% discount on their first retail purchase or a gift with purchase. Additionally, providing incentives like a half-off discount with the purchase of another product or service can entice clients to explore more of what your business has to offer.
2. Timing is Key:
Dr. Susan Lovelle highlights the significance of maintaining a balanced approach to discounts. While promotions can be enticing, she advises against relying solely on discounts, as it can inadvertently create a perception of your business being the "cheap place." Instead, she recommends offering selective discounts to attract clients without jeopardizing your bottom line.
3. Strategic Discounting:
Miki Wright's 'Insider Secret' stresses the importance of timing when it comes to discounting services. It is crucial to avoid discounting during periods when clients are already willing to pay the regular price. Instead, she recommends strategically identifying the busy and slow periods of your business.
Imagine, for example, that you could have made $5,000 during a holiday period, but instead you only made $3,500 because you offered discounts at a time clients would have happily paid. The strategic question is how could you turn the projected $5,000 into $6,ooo or $7,000 or more? Brainstorm a little, but here are a couple of ideas. Why not offer gift cards or special product packages that would make great gifts for your clients to purchase and give to their friends and family?
By reserving discounts for slower times, you can encourage clients to take advantage of the offer and stimulate business during typically quieter periods.
4. The Best Mother's Day Gift for Clients:
Regardless of the type of business, Miki Wright shares her personal recommendation for the BEST Mother's Day gift for clients, a single flower, given at the end of the service with a thank you and a genuine wish for a Happy Mother's Day!
Carnations are her flower of choice, because they are beautiful, durable, and can be purchased at a price that won't break the bank. But feel free to give your favorite. She has successfully employed this approach for years and witnessed the positive impact it has on clients—bringing smiles to their faces, as well as, creating joy and good will for her as a Service Provider, as well as the business. Miki's suggestion ensures a thoughtful and memorable experience for clients on this special day.
Mother's Day presents a valuable opportunity to create meaningful connections with your clients by offering special promotions and gifts. By incorporating the insights from Pricing Strategist, Miki Wright; Esthetician and Business Coach Crystal Ngozi; and Wellness Coach Dr. Susan Lovelle, you can develop a strategic approach to discounting and ensure that your offers add value to your clients' experience. Remember, timing and thoughtful gifts are essential elements to make Mother's Day memorable for your clientele.
We would love to hear your comments, best Mother's Day promotions, and gift ideas! Please share your thoughts and experiences below. Let's make this Mother's Day truly special for our clients!
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Miki Wright is a Pricing Strategist and Business Funding Expert, as well as a long time Leader in the Beauty Industry. She trains talented Professionals how to charge what they're worth! Helping them confidently set and raise their prices, without fear or guilt. She also offers business funding (up to $25K within 24 hours). Wright has a deep understanding of the unique challenges faced by Entrepreneurs with regards to pricing and accessing funding.
Wright's former Salon and Spa has been featured in Essence Magazine, The Washington Post, and qualified as one of the 200 fastest growing Salons in the country with SalonToday.com, for three consecutive years. Wright is known for her ability to innovate, inspire and offer actionable steps that get results and is the Founder of the Club $10K 90-day Mastermind. Apply now at https://Profitplan.as.me/10K
Ready to take your business to the next level? Wright will help you set and raise your prices with confidence, and build and fund the business of your dreams. Contact her at BeautySuperStars.com or for business funding, visit bizfunds4u.com