Home-shopping Home Runs
7. Say hello to your new partner. Home shopping networks are a marketer's best friend. More than that, they're your partners. They not only want you to succeed, they do everything they can to make it happen. Besides the free television exposure targeted to your prime prospect, they answer the phone for you, handle the fulfillment for you … even take care of customer service.
8. Work the home shopping price formula for all it's worth. The success of home shopping is based on cutting out the middleman and giving home shoppers the best price anywhere. However, you don't begin and end with the same low price. First you establish a base price. Of course, it has to beat all other offers. But this price is merely to establish perceived value. Once you've established this base price, make home shoppers an offer they can't resist by offering your product as "today's special." This is the lowest price at which your product ever will be available to the buying public, and you can use every "order now" motivator to get that point across. Show your audience how quickly you're running out of stock, and how fast they're running out of time to order. And when the clock does run out, steadily increase the price. Move it up to "preview pricing," then to the regular shopping network price. Because as you begin to raise the price, panic will set in and many of those consumers who were holding out will finally get up and place a call. After all, nobody wants to pay retail!
Ron Perlstein is executive producer and CEO of InfoWorx, a full-service DRTV agency in Boca Raton, Fla. He can be reached at ronp@infoworx.