Know-How Exchange : Student Questions

Incentives is the key to getting people into one place in the mall. I would schedule regular events to get foot traffic in and capatalize on that traffic with give-aways and incentives to come back like coupons and vouchers.

One of the critical aspects in the success of mall is the mix of outlets. Branded apparel & footwear, luxury goods, entertainment, food & beverages, fine dining etc. Have you got the right mix that not only drives the right audiences in but also one that ends up spending.
A mall can be a great place for impulse purchases as well as a place with high OTS (opportunity to see) for luxury goods even if the purchase can be deferred.
Suppose a new car model is on display during launch phase at the atrium of a mall with the attendant promotional hooha. The draw is obviously the car which people may want to take a closer look at. The tie-up could be anyone who's spent a certain amount in the mall that day, could be eligible for a lucky draw, that gets decided every hour or so, with a mega prize being the car itself (if the mechanics work out). The mega prize being decided on basis of a draw of all contestants over say 7 day period. This is an example of creating and exploiting opportunities.

The other approach could be say a 'Christmas/New Year's' sale where most tenants (outlets) in a mall may find a common cause. The key here will be to link these outlets up into a common promotional plan. How about "Spend a day at X mall and walk away with ......". The mechanism being one consumes at a minimum of say 5 outlets (you could fix a minimum spending limit) and walks away with a voucher equivalent to the minimum value among the purchases made at those 5. The voucher could be valid for the period of the promotional offer.

I thinking along the line of word of mouth.

Try to get your hands on the book "The Tipping Point", I cannot remember the name of the author.

Anyway the concept of word of mouth is identifying how the concept works best. They coined the term 'mavens' on the people who claims to have credibility as 'experts' in certain speciality and they ignite the chain reaction in the word of mouth network. In your case, you are looking for 'experts' in shopping to spread the word around about your mall.

Thus, what you have to do is identify these 'mavens', find a way to gather them, educate them on your offerings.

That's just an interesting theory. Coupled with the ideas from contributors about, I think it should have a greater impact.

Hope that helps,
Benny

I think a good way to increase word of mouth is to give out free stuff. Have incentive programs. Go to commnuity events pass out flyers. Participate in local church or community events. Talk to stores and have them do monthly or weekly specials.