Oct
27

No Really, You Shouldn’t Have

Best Buy Promotion

My birthday is in a couple of weeks.  We have a tradition in my family where you’re not allowed to buy yourself anything during the month leading up to a birthday, so I’ve been hurriedly adding things to my Amazon.com wish list for most of this month.  The last time I broke that rule, my brothers swore they’d never buy me anything again (apparently they’d already picked up and wrapped a CD I bought myself the weekend before my 18th birthday).

Luckily, this family rule also helps me avoid a lot of promotional advertising leading up to my birthday.  Different restaurants I frequent will send me gift vouchers – my favorite pub (sadly, it’s now closed) used to send me a certificate for a free drink.  I get cards from financial advisors, courtesy phone calls from the guy who changes my oil, and once even a thank you note and Starbucks gift card from a client.

Everyone seems to know when my birthday is coming, and everyone who likes me to spend money hopes to earn my business by being extra nice and offering me a special, timely discount.

Today, though, a particular company did the exact opposite.  In my inbox was an advertisement from Best Buy.  You know, the big-box electronics retailer that I don’t buy big ticket items from because their service department kinda sucks?  Yeah, them.  Apparently my one or two DVD purchases last year has kept me high enough on their radar to warrant a special offer.

They’re inviting me to give them money to celebrate my birthday!

Exciting, huh?  Not a discount.  Not a freebie.  Not even a personalized birthday card.  But an invitation to spend more money in exchange for triple to quadruple points on whatever I buy.

For the record – you normally get 1 point for every $1 you spend.  And since it takes 250 points to get a $5 coupon back, I need to spend between … $62 to $80 just to save $5.

Not so enticing a deal when you put it that way, is it?

If I were in the market for a new LCD display, a new printer, or a new PC this might seem like a stellar deal.  But since I never buy anything that expensive the few weeks leading up to my birthday, it’s not likely.

Here’s the thing.  Best Buy is trying to appeal to my spoiled sense of self-importance.  They’re sending me an email to wish me a happy birthday and offer me a special deal to convince me that I stick out from the crowd.  They know I use reward points because they track my purchasing behavior through my rewards card.

But then they fall short.

Rewards cards, club cards, priority cards.  They exist to give the vendor a better idea of who you are.  It’s a decentralized, corporate model for relationship building – by tracking my purchases, the company can better predict what I’ll purchase in the future, when I’ll spend a lot of money, and to which advertisements I’ll be likely to respond.

Obviously, Best Buy isn’t using their cards this way.  No personalized shopping recommendations accompanied the email.  No personalized notes.  No we-know-you-and-earnestly-want-to-celebrate-your-birthday sentiment.

The entire email reads as yet another corporate attempt to trick me into shelling out my hard-earned cash for something I don’t actually need.  Which is a bit sad, really.

I thought marketing and consumer relations had come a bit farther than this …

Oct
05

The “Great” Recession

I hate to say it, but I told you so.

In June of 2008, I told everyone that we were well on our way to a new depression in the market.  At the time, I called it a market malestrom, and yesterday I heard it referred to as “the great recession.”

Despite the horrific downturn in the economy over the past few years, reports today indicate that we’re about to dip even further into the recession.

I listen to the doomsayers on TV, I read the negative reports in the newspaper, and I hear people talking about “tough times” every day.  But the other day, something my brother said made me stop and reflect on the prediction I made 3 years ago.

“I’m so glad I didn’t take that job. Look at their stock prices!” [Read more...]

Sep
16

Shipping Confusion

ClymbOrder

Anyone who knows me, knows just how much I like to buy inexpensive stuff online.  Recently, I was pointed to a new retailer called TheClymb. They do massive online deals and discounts for outdoors apparel and equipment.

Outdoors + Discounts = Empty Checking Account

I love TheClymb and have been referring them to everyone I know.  But my last order had me a bit confused. [Read more...]

Sep
02

Ambassadorship

Never forget that every single one of your employees is a brand ambassador.  They speak for your brand to other employees, they represent your brand at the front desk of the office, and anything they do in public off the clock reflects on your brand as well.  This is what makes brand training vital for everyone, even the restaurant kitchen staff.

Case In Point

Last night I had a business meeting at Pasta Pronto.  We met in a restaurant, rather than Starbucks, because it was around dinner time and we knew we’d all be starving.  I arrived a few minutes early so I could order and set up … but having never dined at Pasta Pronto before, I had no idea what to order.

I walked in and was immediately greeted by one of the employees.

“Hi, I’ve never eaten here before and don’t know your menu. So what’s your best meal or special right now?”

This should have been an easy question.  Anyone who works in retail or customer service typically has the day’s deals and specials memorized.  Often times, they’re written on a board behind the counter and easy to reference.  But when a customer walks in asking you to sell them something … it’s usually a dead giveaway that they’re open to a sales pitch.

“Um … well … here’s our menu.  We have …”

Then she took 10 minutes and started reading the entire menu out loud to me.

Seriously. [Read more...]

Apr
30

Self-Funded Line of Credit

I was thinking this past week of ways to save money, and I realized lately how “odd” my primary strategy seems to other people.  I’m in the process of paying off my credit cards, so when I need to make a large purchase I give myself a self-funded line of credit.

Basically, I give myself a loan.  A loan that I pay back.  Think of it as my checking account taking out a credit card from the Bank of My Savings Account.  I make monthly payments, charge myself interest, and actually make money on my purchases.

Think about that.  I make money when I buy things! [Read more...]

Apr
13

The Mind Share Market

I recently had the opportunity to review a copy of The Mind Share Market, by Nicolas Pujol.  It’s the one of the better straight marketing books I’ve perused lately, and I wanted to give it a fair shake.  Unfortunately, my schedule and the heavy technical nature of much of the book made this review take longer than it should have.

The book on a whole is a clever combination of case studies, anecdotal illustrations, and technical evaluation.  For a lay reader this might be a bit intimidating, but you can easily skip most of the technical analysis and discussion – the graphical illustrations and prose-format case studies are more than informative enough to bring home a point.

One of the best illustrations, though, is the concept of price.  Pujol takes the reader through a careful analysis of a real MIT experiment regarding customer purchase behavior.   [Read more...]