Avoiding the Christmas Celebration that turns out to be a business disaster

7 minutes Mark Halstead

It’s that time of year again when local venues are actively marketing their location as the ideal venue for Christmas parties but this year some of them are applying a bit more science than has perhaps been employed in the past. Here at Red Flag Alert, we are noticing that more of these types of businesses are taking licences to discover the businesses in their area and target the more successful operations to secure their future sales.  The opportunity exists to not only identify ‘new’ businesses in your area (even unlimited businesses) but also select businesses based on size, number of employees and crucially their success in terms of turnover, profit or assets.  Rather than spend money targeting businesses that might not make it to Christmas or not be able to pay easily, using the RFA intelligence system you can work ‘Smart’ and not ‘Hard’ to achieve success.

How to use Corporate Hospitality successfully

Success is often the key in itself in the Corporate hospitality sector where sales have also experienced some pressures of late due in part to the recession alongside greater levels of availability restrictions for some people to be able to attend events.  The result has been that people selling corporate hospitality have been turning to a more targeted approach that is possible using the Red Flag Alert intelligence solution.  Not just selling tickets and hospitality packages to everybody but using the intelligence system to be very focussed and selective when identifying when and who to target.

Luxury goods that often attract the wrong people

Whilst many people aspire to owning a Ferrari, luxury apartment or yacht not many people are ever in a position where they can afford to buy one.  Luxury goods are easier to sell when you know that the person you are selling to can afford them.  Often luxury motor dealers and others such as boat, helicopter, jet or any other luxury goods, have first to find suitable targets before then going about establishing ways to recruit them as customers.  Rarely is this sales process a short term affair, it usually starts with an invitation to an event and some exposure to the product or brand.  Cartier are a classic case where they are fortunate to have budgets to enable them to invite the great and the good to their now well established annual Polo event at Windsor.  As wealth and success permeates an ever increasing selection of the population, it is often quite difficult to identify the real successes and those with either the ‘cash’ or asset wealth that affords open access to life’s luxuries. The brands themselves attract people but often the people you might want to attract or not the people who volunteer themselves to the salesman.   Yes we can all recognise the famous faces, celebrities or even the local lottery winners but businesses that sell luxury goods need more than just chance exposure to any of these people who will usually introduce themselves anyway.  It is the business owners and directors who are normally more anonymous  and harder to therefore to target.  Timing is also a key factor and we can all recognise fiscal or tax year ends but some of the annual events that trigger major purchases are hidden to the public and yet are transparent using the Red Flag Alert intelligence system.  It is possible to monitor particular businesses within your target area and spot the opportunities to make contact with the right person them.  You can even automate this so that you are prompted  to make contact after particular events.

It is not just goods and services that need help to identify opportunities and targets, sponsorship and charitable donations are far more effectively achieved by applying science first before wasting valuable budgets chasing every potential donor or sponsor.  Usually, the donor and sponsors are very closely aligned with the targets for luxury goods and corporate hospitality and so the same system that reports on their business success, can be used to identify them as potential candidates.

Most sales people understand the ‘Common sense’ approach of using intelligence to target the right customer rather than every customer,  but  ‘Common Sense’ is often not ‘Common Practice’ because actually being able to do this effectively is quite difficult.  RFA provides a simple and easy to understand, web based system that with 80,000- 100,000 updates daily and over 6m  businesses’ records in the database, working intelligently and effectively simply isn’t difficult.

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richard west Mark Halstead Partner

Mark's experience is big data analytics, financial services and building businesses provides Red Flag Alert with strategic direction.