Business & Finance Small Business

A Golden Ticket Idea

In the movie "Willy Wonka and the Chocolate Factory," the candy magnate Willy Wonka runs a contest to tour his factory, open only to five lucky children who win a Golden Ticket found hidden in select Wonka candy bars.
One of the best ways to use a Golden Ticket is as a tool for rewarding customers who are particularly deserving.
Here are four ways to use a Golden Ticket contest or promotion to encourage customers to frequent your business more often:
  1. Reward your new customers
  2. If business is slow, a golden ticket promotion can be great for getting new customers in the door.
    A golden ticket can be used as part of a contest to encourage the purchase of products, services, or groups of both which ordinarily might not be used, but which previous customers have responded favorably to once they have tried them.
    Similarly, the same strategy can be used for customers who buy items which are not moving out of inventory quickly enough.
    This is especially useful for goods which have a short shelf-life.
  3. Reward your best customers
  4. Some customers will be better than others, whether due to higher priced sales or greater volume purchases, increased referrals of additional customers, or other beneficial qualities.
    Recognizing these customers through contests which provide exclusive, one-of-a-kind prizes can be an excellent way to increase customer loyalty among the very best of your clients.
  5. Reward price-sensitive customers
  6. Some customers (such as the elderly) have more time available to them than money.
    Many establishments already encourage these customers during slow business periods, using "early bird" specials.
    If the effect from these promotions has decreased, a special contest rewarding the "Earliest of the Early Birds," might be used, say for the customer who shows up early the most number of times during a particular month.
    As long as most customers show up early anyhow, such a promotion should not adversely impact profits.
  7. Reward outstanding customers
  8. Many businesses already offer discounts or other special promotions to commemorate special holidays, such as Veteran's Day.
    However, there are many other professionals who still go unrecognized.
    Special promotions for other days (a free drink for secretaries on Secretary's or Administrative Professional's Day, etc.
    ) can be a good way of saying "Thank You," to otherwise unappreciated groups of customers.
In other words, by rewarding new customers, best customers, price-sensitive customers, and outstanding customers, it is possible for business owners to greatly increase customer loyalty and goodwill towards their business.
This then leads to a Golden Ticket of a different kind: increased profits and continued business growth.
Copyright 2010, by Marc Mays
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