Once you are in business, you should organize grand openings for new products or reintroductions of improved products in order to attract attention and increase upcoming sales.
Grand-opening-style extravaganzas can be used to introduce new product lines, promote a refurbishment, announce a major sale, or take advantage of an upcoming event.
Obviously, some businesses may not benefit from a clown handing out free balloons. However, if favorable attention can be directed toward a product through a carnival atmosphere, it may be wise to create one. Just remember that once the date for a grand opening has been publicized, it must be honored.
The following steps will help ensure that a grand opening runs smoothly:
- Before setting a date, identify and write down the types of customers you want, how many customers you hope to attract, and how much they are likely to spend. This helps provide direction, focus, and planning.However, be realistic when targeting customers. One of the worst grand openings I ever witnessed was an expensive event where invitations were sent only to physicians and lawyers because they were the only customers the business owner wanted. Unfortunately, no one showed up despite the elaborate buffet and drinks table that had been prepared.
- Determine a grand opening budget and stick to it. Resist the temptation to spend more money than you can afford.Some experts believe that one of the greatest mistakes a small business can make is overstretching its budget by advertising in expensive media outlets that do not reach the intended customer base.
- Avoid launching a new product or business on the same day as a major event such as a sports game, parade, public holiday, or anniversary celebration. Unless your business complements the event, it will compete directly with it.
- Consider holding the grand opening a few weeks after the business has officially opened. According to some professionals, this allows the business time to “iron out its wrinkles” and fix early operational problems.
- Whenever possible, invite government officials, local dignitaries, and well-known personalities to the opening. Doing so often guarantees media coverage.
- Contact local radio stations and inform them about the grand opening. Most radio stations enjoy promoting local events, especially when there is a carnival atmosphere and free items are being distributed.Offer to display posters or hand out promotional materials for the media outlet in exchange for their participation.
- Use as many grassroots marketing methods as possible to attract attention. This includes distributing flyers and invitations, making phone calls, putting up posters, and using creative promotional techniques.
- If possible, partner with a charitable organization and allow it to promote itself during your grand opening. By combining resources with an established charity, the chances of attracting customers increase, and the business may be viewed as a positive addition to the community.
- Always provide an incentive for people to attend the opening despite their busy schedules. For example, hand out coupons, offer special discounts, provide refreshments, or hold raffles and giveaways.
- Offer something for everyone — coffee for adults, balloons or sweets for children, and snacks, decals, or T-shirts for everyone else. Everyone who attends should feel welcome.
- Use the grand opening to its fullest potential. Showcase the business’s personalized service, network with customers, build or improve your customer database, collect business cards, and do everything possible to strengthen customer relationships.
- Collect online contact information from potential customers, such as email addresses and social media accounts.
- Keep records and document the results of the event. This prevents you from having to “reinvent the wheel” every time a new marketing idea is needed. It also allows the business to analyze what worked, what failed, and what was successfully accomplished.
Final Thoughts
Do not hesitate to provide free or discounted products when introducing new items. People are often attracted by generosity and kindness. As the saying goes, “The customer is king or queen,” so be willing to sacrifice a small amount of profit in order to earn trust and loyalty.
You should organize grand openings whenever introducing new product lines or promoting leftover stock that needs additional attention.