You’re overlooking a $6-billion per year market.
Traditionally malls staff its marketing department with 20s-years old females who will contribute to the company’s bottom line in another 30 years – 25 years after they left your organization. So today we’re advising how to reach a $6-billion market and grow your revenues.
You thought the day of the indoor mall was dead. You also thought Miley Cyrus, Britney Spears, Jonas Brothers and Taylor Swift were the hottest things in music, too. Well, think again.
Top selling artists for concerts in June 2009 were Elton John, Billy Joel, Fleetwood Mac, Bruce Springsteen, The Grateful Dead – you heard right – The Grateful Dead! Check it out at Tween Music Dead: Long Live Geriatric Rock. Who’s top of this week’s Billboard charts – right, Michael Jackson. The ‘70s and ‘80s are back and your mall is missing $$$$. Top concerts in 2008 went to Boomer acts.
Where I sit it is 111 degrees outside. I normally go to one of the desert’s most popular outdoor malls, but it is too hot. Think of the reverse opportunity in January when two of the nation’s largest malls, King of Prussia and Mall of America are at 0 degrees. While the weather never changes for Costa Mesa’s South Coast Mall, most mall operators are not blessed with year ‘round perfect weather.
Here are some tips for you – first – big screen television! You don’t need to spend $35-million to get the Dallas Cowboy’s screen, but you’re passing up clients without a big screen TV area in your mall. Of course you’re showing ESPN on that screen. You won’t get me that way, but you’re going to get a lot more men in your mall. Men with $$$$.
An example is recently sitting with a friend at the same mall I am now – using WiFi, another draw. When talking about attracting men to the mall, he goes, “We’ve been here an hour and I haven’t spent a dime shopping.”
I reminded him the $7 he spent for food, $5 on ice cream, $2 on a drink. In an hour’s time, this male who abhors malls spent $15. Guess where he’ll go when he needs shirts or shoes?
Why spend money on this project? Get a 10-year contract with a cable or telecom company. Cell (wireless) phone companies are coming out with first run movies for phones; hit them up for this section of your mall.
Speaking of concerts, some malls have bands on Friday or Saturday nights. Why do you think Baby Boomer acts are making the most on concerts? Baby Boomers grew up with concerts. They love them. What’s wrong with a band Saturday afternoon, Sunday afternoon? You’re an indoor mall – you can have them most times! Most bands will play for free just to get the exposure and sell CDs (tell them to step up to the 21st Century and sell memory sticks instead of CDs). They’d love to be featured on your Web site.
Speaking of Internet technology, you are Twittering, correct? Two years ago clients were throwing me out of their offices for telling them they needed a MySpace and YouTube presence. You know what we call the people now who threw me out of their offices and couldn’t see the future? – fools, broke, out of business, homeless.
Where’s your Guitar Hero or Rock Band area?
Now for the part where you need to invest money. Most malls’ decor are generic. Some are patterning themselves after Disney. You want more customers, right? More customers mean more revenue.
How about doing your mall in different motifs? Taos, where all stores exteriors have the adobe, ladders found around Taos, New Mexico? Pennsylvania Dutch? You don’t want beach. Sand gets nasty. Fishing village may work. Be creative. Here’s where you gain support with clients too. Ask their advice. Form a community leader volunteer group to advise – builds more brand loyalty to your mall.
Want to know where that $6-billion market is and how to catch it? There’s thousands of other tactics you can use to build revenue. Contact MediaRelationsExpert@Yahoo.com for a free consultation.