Since your concept may be untested in the market, consider a few unconventional promotions to motivate potential customers to try your new store.
A truth that must be faced:
Most people are conservative when it comes to trying new things; it’s a small minority that can’t wait to try something new.
The onus therefore falls on the shoulders of new storeowners to make their grand openings special by offering something of value at the event. So, what is that thing? What will get people to step out of their comfort zones and into your new store? Something, perhaps, like one, or all, of the following:
1. Consider having a “pay what you want” grand opening. It could be all day or just for a few hours.
This growing trend started in a restaurant in India, and it’s currently being experimented with at select Panera stores. Pay-what-you-want pricing has been successful for Panera by, first, getting them a lot of attention and free publicity and second, by eliminating the downside of using conventional pricing, i.e. it eliminates the challenging job of trying to set the “right” price. What’s more, people are more likely to try something new if they don’t have to pay full price for it – they don’t want to suffer buyer’s remorse. The word is… profits seem to average out about the same because some people actually pay more than the restaurant is suggesting.
2. Consider honoring competitors’ coupons at your grand opening.
A strategy of matching or beating the cost of all competitive offers is always affective. And, you only need to do it for a day. It won’t make your competitors very happy, but they’ll get over it. Like I said, it’s just one day.
3. Consider doing a cross promotion with another store.
It doesn’t hurt to stage a grand opening with the help of another store – a store that already has an established name. One way to do this would be to offer money-off coupons on goods or services of another store at your grand opening. When a customer buys something from you, give them a coupon for another store – maybe you’re a shoe store and they’re a sock store. What do you get out of it? You get to advertise the offer and use an established brand name in town to attract people to your new store. That’s no small thing.
No matter what…don’t forget to collect those e-mail addresses from your customers. That’s the price they pay for the added value you’re bringing them at your grand opening.