When do owners of small business start to take notes? Yes, when some seemingly not very good idea unexpectedly becomes very successful. So, what marketing decision and strategy makes lots of people buy the toys? And – on the whole – why do so many people strive to buy the toys?
Toys are sales phenomena indeed. Especially in days when it is a shopping season. So, what can I, as a small business owner, learn from these toys sale? What tactics can I use in my own business?
Strategy 1. Restricted availability.
Tickle Me Elmo is really very funny. But we can’t say that it is one-of-the-kind toy. Jittering, red-haired, long-bodied but yet so popular monster – how come that he is so popular? Elmo conquered all his competitors, one of which was a very popular Big Bird. So Big Bird flew away, and its place was parked by a fluffy red creature. They consider, that one of the reasons of Elmo’s popularity was at that time everybody was bitten by “Tickle Me Elmo” bug. And lots of stores could evidence buyers’ stampede. Private sellers sold the fluffy red monster for $1,000! The speed of Elmo’s flying off the shelves was fantastic!
And what about marketing strike off?
There was a limited availability of the product. You may call it lack, scarcity or a matter of “demand & supply”, but the fact is – when people have a limited quantity of the product, they buy more.
Strategy 2. Being individual and original.
In the end of 90th there were a huge amount of toys which were able to wet the diapers or to cry, and not more. But then Furby came onto the scene. The first cute alien monster which appears from the box and speaks alien language. In fact, children could teach him English language, and that was the most amazing thing that attracted buyers.
That interactive toy could cooperate with children, learn from them and mold its personality. Furby was everywhere! Kids demanded to buy this toy in their desire to teach it and to see its evolving.
So, what can business learn from Furby?
He was different. And difference means sales. This is the strategy that companies usually work with (for instance, like Shopping Cart Elite). Study your competitors, what they do, their methods of work and the way the offer their services. And then turn it 1800. Indeed, it’s of no matter what area you work in. If you are imaginative and creative you can always make a perfect marketing campaign.
Strategy 3. Nurturing.
Buyers were fighting to get these toys! Why? Because Cabbage Patch Kids were absolutely different from all the toys. They had cartoonish features like no other doll had. In 1980th shops sold millions of Patch Kids. Sometimes before selling there was a crowd of people waiting for the shipment to be unloaded. The phenomenon of the toy was obvious – children didn’t want their parents just to buy Cabbage Patch kids, they wanted to adopt the toy.
What is the marketing factor here?
At first, it seems a bit difficult. But use this inclination of your target audience, “feed” their desire to nurture, and start nurturing them. Draw marketing decisions that will attract your future customers. Tell them what they want to hear. Watch the effect of domino that makes your clients demand new information.
Also, they recommend email marketing, precisely a method of soap opera. Tell stories, describe your services, don’t be narrative.