Blog Family,
I confess. From time to time, I watch QVC. I said it. But you have to hear me out before condemning me as an outcast to know that I was doing market research for you. While
watching a sale for pediatric posturepedic pillows, it hit me.
The lessons to be learned from QVC are invaluable.
What is QVC?
QVC is one of the largest multimedia retailers in the world, and broadcast live 24 hours a day, 364 days of the year. This is the live show that sells the products constructed by the worlds entrepreneurs in a quick hitting, in your face, shop at home style.
According to their website, QVC is a wholly owned subsidiary
of Liberty Media Corporation attributed to the Liberty Interactive Group. Trades under the Nasdaq as LINTA. QVC was founded in 1986 by Joesph Segal. In it’s first full fiscal year of business, QVC’s revenues exceeded $122 million. This is outstanding and was a record in American business history for sales of a new public company.
Additional information on the QVC website reveals the company received more than 181 million phone calls last in the United States alone, shipped 166 million units worldwide. Net sales for 2007 was more than $7 billion and they reach more than 166 million cable and satellite homes worldwide.
What does QVC have to do with Entrepreneurs?
I think it is safe to say that QVC has a winning business model and is doing a lot of things the right way. Therefore, I thought that maybe as entrepreneurs and bloggers, we could gleam some insight from QVC that has made them so successful and apply it to our individual businesses.
QVC sales the products of entrepreneurs like you in real time. There tactics and influencers have been effective enough to drive the kind of numbers that they are reporting. Maybe there is something to learn from this phenomenon known as QVC for each of our businesses.
Marketing Lessons from QVC
1) Prominent Product Positioning. Although they are only limited to your television screen, the QVC administrators have mastered art of prominently placing their products on the screen to maximize visibility and give the potential buyers an idea of how big the product is they are viewing and how it is used. This is done by showing the product next to common items in the home or someones hand to give an idea of size. And they are always demonstrating the use of the products as well as giving suggestions on how it can be used by the end buyers.
2) Repetition of your message and selling points. Repetition seems to be one of the key strategies that QVC employs to move their products. And moving their products is their specialty. Watching the show on pillows, they sold over 52,000 units while I was watching the show. Simply amazing! And one of the key points I noticed during this segment was how many times and variety of different ways they repeated the product name and unique selling points. The lesson for you is to make your offering visible and repeat the benefits as often as you can without driving the customer or readers crazy. The point is you have to get your message into their minds so they can realize this is something they need. This can only be done through repetition.
3) Urgency. I love the way QVC uses urgency to convert sales. Yes, they spokes person does let you know that this is a limited time only offer. But the subtle way they do it is the best….with the clock. They will have a countdown clock in the corner of screen letting the viewers know that this product will only be available for the next 5 minutes, so they better act now. Another way they utilize this tactic is by saying there is is only 1,000 of these units available and they show how many are left in stock. Again, emphasizing the urgency the viewer needs to use to get one of these great deals. In your business, maybe you could have time sensitive dates for your readers or customers to act on to take advantage of your offerings.
4) Appeal to Desire to Belong. I had trouble naming this, but it works. The point I am trying to illustrate is they use of “everyone else is doing it, so you should as well” tactic utilized by the QVC. Example, on the screen they would flash how many orders have been sold. As mentioned above, during the sale of the pillows they kept flashing the number of sales they have made. This was done for urgency because they said only so many units would be sold, but also to let people know that others have found this to be a great buy. Sometimes as entrepreneurs and bloggers, we utilize this tactic in the form of testimonials, which QVC does as well with live callers that are buying the products. They allow the presenters to interview them after making a purchase. The viewer identifies with the buyer and thinks maybe this will be a good deal for them as well. The desire to belong is great in a many of our markets, so consider using this tool at your disposal as well.
5) Show Savings. Regardless of the market and especially today, people are looking for a savings. You should not allow the consumers to calculate the savings they will benefit from buying your product or service. QVC does this with the side bar on the screen where they will show the retail price of an item, the marked down price, and the difference is the saving. In addition, they will have specials if someone bought two items, then they would get the second one for $5 off. Instead of just letting this savings slide, they would highlight that and encourage the buyers to get two in order to save more money. The more they buy, the more they save. It is a great way to get your potential buyers one step closer to making a purchase with you.
6) Make Purchase Recommendations. As mentioned in #5, QVC will make various packages that the buyers can choose from and illustrate the savings involved. This is a great idea, but don’t loss the other recommendation in there. The opportunity to tell your audience what they need. QVC was selling pillows in sets of two, but encourage the viewers to buy two sets of two pillows for the savings, their spouse, even the guest bedroom. If you can build your ethos, trust, with your audience, then they will believe you and take your council in purchase decisions.
7) Connect Features & Benefits to Buyer Needs. You are aware that QVC utilized spokespeople to promote the products during the individual segments. The people are not talking aimlessly about the products they are selling, but they strategically mentioning the features and benefits of each item and drawing a directly relationship to the needs of their buyers. As an example, the pillows were to provide great support for the users and this point was demonstrated by having someone lie on their pillow and a regular store bought pillow. Once this demonstration was made and you could clearly see the difference in the two pillows, the presenters spent a lot of time telling the viewers how and why this will benefit them and solve their needs. Everything from the quality of the pillow will save you money because you will buy less, to the better nights rest and refreshed feeling you will spring out of bed was covered. Your buyers will not buy if they don’t understand how your product will help them out specifically. Spend time driving that point home.
8 ) Easy, Visible Purchase Options. If you watch QVC, there is no doubt that you can find out how to purchase their goods. First of all, the spokesperson is going to mention how you can do this every so often, but it is also plastered all over the screen. They have the phone number visible (large) and the website clearly visible. They let their viewers know exactly how they can pay for the goods, by credit card, eCheck, PayPal, but not C.O.D. It is very important to never leave your potential buyers guessing. Every delay is a moment for them to turn away and entertain someone else’s offer. Don’t give them that chance, provide them the information they need to make a purchase decision.
The Monster Marketer that is QVC
Without a doubt, the people at QVC have mastered their business model and does very well with it. As entrepreneurs, we should not spend out time trying to talk down or bad about another business, but instead we must learn from their successes. Everyday QVC runs in most countries, take a few moments to watch their broadcast from time to time. You might find a bargain that is right up your alley, but I am certain you will feel the power of their marketing efforts, notice the tactics I mentioned, and more.
Now go into the world, find your markets, implement the marketing strategies of the QVC and dominate. These tactics can be used on your website, commercials (if you run them), flyers, during presentations, radio spots, news paper ads, and more. If you find any additional strategies they are using, be sure to share them with us here. We are all here to learn and grow from one another.
Good post brother…I'm still building my first product so we'll see if I can use some of these ill strats.
Don't forget- QVC also has a reputation for being trustworthy and selling quality products. People who buy off QVC know they won't end up with something that looks nice on TV but is crappy in reality.
Forgive me- I live 10 minutes from one of their warehouses and about an hour from where they broadcast. And we watch NOTHING else around Christmas. We're that geeky.
Good post though!
Lori, you are so right about the reputation for trustworthiness and quality products of the QVC. In my defense, I that isn't something that you pick up from watching an hour at midnight, but true never the less. They have built this reputation over time and trust is a key component to the marketers future. Although now that I think about it, the presenter and the entrepreneur do a great job of building ethos, trust, during their set up and showing how the product works, so that should have been the 9th lesson learned from them. Good work.
I must admit that I am not at all surprised that you are a regular watch of QVC. It has to be cool to live so close to their operation. Have you ever been down to the live filming or studio? That has to be a really cool experience.
Repetition and urgency for sure! I can't believe you actually tied QVC into something productive. My family never seems to stop watching it, and it drives me crazy! But good post.
When I was growing up, I used to watch the knife guys from time to time(hangs head in shame), although I am not sure if it was QVC, but it was the same principal. They relied mostly on the “Urgency” and “Show Savings” to peddle their wares, showing how by spending $400, you were really saving a $1000.
I never really have thought too much about QVC before, but you are right that they really are monster marketers.
Wow, now that's what I call insight! I can't see a panel of marketers getting more from a TV program. Great job. The Nascar race is starting up right now. You could make an entire e-book or e-course on Nascar. I have never seen so much advertising in one spot. You just got a new subscriber.
BTW, I Dugg, Tweeted, Stumbled and added this it to Delicious.
OUTSTANDING! It is really appreciated.
Awesome! Thank you for the kind words. I am trying to provide insight for my readers. You are so right about Nascar and their advertising. I think I might to an article or two on them cause they do have some great ideas for Internet marketers and small business owners to utilize.
Looking forward to building with you!
Man, freddie. I like the way you take time to explain every single detail and it makes reading new stuff so much easier.
Thank you, Ben. I am glad you enjoyed the material and the way I broke it down. Look for much more to come in the near future, my friend!
BTW, you site is looking great. It is like every time I come to it you make some type of tweak that really works for me. Specifically, I am feeling the section after your post on the single.php pages with the advertising, content, and other offerings you have there. Well done, and you may see some of that here, so don't be alarmed.
Awesome post… QVC is somehow memerizing so I try hard to stay away from it. I think the urgency is the biggest thing that sells….
Have you ever watched Price Drop TV? That takes urgency buying to the next level.
Nice post dude. My wife has been watching a lot of QVC and my mom is all over it too. Even made a purchase on their yesterday. They do have quality stuff. and great insight man.
The last point should be the first one as it's very important and many people forget about it. I don't care about the comparison of your product with competitors as long as I'm not presented with clear purchase options.
Great tips. I am a marketing guy too. I definitely am gonna try them out.
Glad I could help. If any of them working for you, let me know and let's build together!
Thanks for the great tips. I'm going to try these out.
These tips are indeed great, thank you for sharing.
Very informative post here. Some good points noted. I'll share this post to others.
. I always think that if you find your way to people's mind and stay in there, you can sell almost anything. 