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BreakingYourLocalNews

The Big Winning Loss Leader

 Published on: 17th March 2015   |   By: Nik Allen

Mrs A and I decided to take a well earned mini-break over in the lovely Belgian city of Brugge.

Great architecture, hundreds of different beers and chocolate. Lots and lots of chocolate.

One street we went down had more than twenty shops all selling chocolate. How do you make a living when everyone is selling what you’re selling? bruges-chocolate1

Well I think it goes back to the wise old millionaire who said:  “marketing is not about being better, it’s about being different.”

Among the line of chocolate shops, one stood out when we visited. Literally.

A pleasant looking woman stood outside the store holding a plate of chocolate samples accompanied by a colleague who was handing out branded but very stylish looking bags.

These people were in your face in a subtle way. They didn’t assume you’d walk in to their store they brought the store out of the pavement to you.

We tried the freebies and politely took a bag. Then we walked off to do some more sightseeing. A couple of hours later where walking back down Chocolate Avenue (well that’s what we called it anyway) and the same team are outside their store. No other shops were doing this at the time.

So where do you think we ended up popping into? Yup. The store that had given us some complimentary chocolate. This in itself would have been a loss maker had we never returned. But that’s the chance they were willing to take that others seemingly weren’t.

We ended up spending more than 80 Euros for treats for the kids and the team back at My News Mansions.

What that store did was a great example of how a little loss leader can lead to a much bigger and profitable purchase.

We run a loss leader promotion in the magazines. It’s a ‘dip your toe’ offer. It’s £99 per month for a full page advert based on a six month booking. Nine times out of ten the advertiser has such a good response they continue advertising after the special offer price.

Have a great week.

Thanks for reading.

Nik

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