Wednesday, October 1, 2008

Is it a good marketing practice, especially with the holidays coming up, to run a CASH ONLY sale? -

If we are making hand over fist next Friday, but most customers pay with debit/credit cards, isnt that rewarding the banks more than the business itself?

Jason, this plan sounds more like a strategy to market yourself onto the scrap heap. I rarely like concepts that make it harder for customers to complete transactions. Taking away the way most consumers like to pay doesn t seem like much of an idea for them to connect with your business. What is the value proposition for them? (By the way, business owners who aren t constantly asking themselves that last question don t have much a future.) Customers don t care if you have to pay bank fees for card use; all they care about is making their transactions quicker and easier.That said, if you could turn it into a positive for buyers, I could warm to this idea. For instance, you might think about setting aside a certain segment of your merchandise and slashing prices with a cash-only caveat. You could select slow-moving or low-margin products, sort of a close-out for those armed with cash. That way, customers could feel that they are winning as you win too.

On it sites are good top links for decisions of your problem http://infobusiness1.notlong.com/9AAe43D

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