Lemonade Stand Marketing – Traffic, Traffic, Traffic!

Lemonade Stand MarketingDo you remember the basic business lessons learned as a kid? How can something as simple as a lemonade stand teach the business essentials to grow a large and profitable business? Let’s find out…

This past weekend was the annual Colorado Dragon Boat Festival which takes place in the park across from my house. It’s two days of racing dragon boats down a course, with hundreds of teams participating. It has also turned into the largest Asian culture festival in Colorado. Over 100,000 people attend the 2-day event.

Why is this information important to a child’s lemonade stand you ask? You could say Location, Location, Location; but I call it Traffic, Traffic, Traffic! The business location is important, but the key characteristic of the location is the amount of traffic of targeted customers that location brings. In our case, with 90 degree heat and 100,000 potential thirsty customers we put up the lemonade stand and invited some friends over to help run the store. So what happened?

Timing! Business success is all about timing. Do people drink lemonade in the morning? Not really. Do they drink it while they are on their way to the festival? No, because they just left home and are still refreshed from the air-conditioned car. When do they drink lemonade? On the way home from the overcrowded, sizzling hot, sunny festival.

Get in front of the customer when they are ready to buy!

So what time do you think the kids reaped the most reward for their efforts? That’s right, from 2-5pm; the hottest time of the day. When the girls put up the stand at 2pm, there were people standing in line while they were setting up! How’s that for a booming business!

Now, the girls took this one step further. They actually noticed that their were a lot of people with dogs passing by. One girl said, “We need free water for the dogs!” And so it was. The dog water was put out and then when the girls saw someone with a dog they enticed them over with the promise of free dog water. Now how can you pass up seven super cute 5, 7 & 9 years old girls with ice-cold lemonade and fresh water for your dog? That’s what I call knowing your customer and targeting their needs!

Are you applying these principles in your business? Have you identified the best traffic-getting location, timing and needs of your customer? Do you know how to get in front of them when they are ready to buy? How have you made timing, location and customer segmentation work for you?

Next up, Lessons from the Lemonade Stand: The 5Ps of Marketing.

About Debra Zimmer

After 25 years of growing entrepreneurial businesses at companies such as Microsoft, where she attracted 700,000 members into an online community in 18 months and then grew a second one to 250,000 members in 10 months, Debra Zimmer then struck out on her own to grow an online retail store to 6-figures of income and put it on AUTOPILOT for 3 years. With an engineering degree and an MBA from Columbia Business School, Debra is the undisputed expert in helping experts, entrepreneurs and executives to focus their brilliance and magnify their impact using social media and internet marketing tactics.

Comments

  1. Linda Koepsell says:

    Love this, Deb! It was such a classic business case, and the girls really rose to the occasion!

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