Advertising by Cookie
FastTrac Connections July 1, 2007 newsletter
July 1, 2007
Over the last three and one-half years of building her business, Judith Moore has retained nearly all of her employees. Why such a low turnover?
"Maybe it's the cookies," laughs Moore, CEO of Charleston Cookie Company in Charleston, South Carolina.
A former family therapist with a love of baking, Moore launched her cookie company in 2003, after seven years of running a nonprofit organization that she started. She took FastTrac in 2006.
"It's a boot camp for entrepreneurs," she says. "Intense and eye-opening. Much of what I learned validated my gut intuition and grounded it in practical information."
For example, Moore sensed she should pay more attention to monthly financials. But only after taking FastTrac did she start tracking monthly results and scrutinizing short-term business performance.
"Looking at the numbers every month made it clear to me that we were too dependent on two big wholesale accounts," she says. "So I decided to hire a sales manager at the end of 2006 and seek new accounts."
Moore's most costly mistake occurred soon after opening her business. She invested heavily in print advertising after hearing a persuasive presentation by an ad salesperson.
She expected the ads to generate immediate business, but the disappointing results taught Moore a valuable lesson. She began approaching advertising more strategically, deploying her limited marketing dollars more selectively.
Instead of print ads, she has found a better visibility-builder: her cookies. "My best form of advertising is a cookie in someone's mouth," Moore explains.
With that in mind, Moore views every moment as an opportunity to sell cookies. She offers her baked treats to practically everyone she meets, and many of them become instant fans. When attending business conferences or other events, Moore carries dozens of small, clear bags, each containing a freshly baked cookie—along with a business card.
Her delectable calling card leaves a lasting impression. In fact, a large telecommunications firm's salespeople have begun copying Moore's technique: They bulk-order single bags of her cookies and attach their business cards to them.
"They found what I found—that people really remember you when your business card is a cookie," she says.
Moore's savvy marketing opens all kinds of doors. Giving away samples at a chamber-of-commerce business expo led to many new corporate accounts within days. Her cookies are sold at Dean & DeLuca stores and other upscale outlets.
Her latest challenge is to slow her firm's surging sales. With triple-digit percentage growth in each of the last three years, managing success is a key concern.
"Growth must keep pace with cash flow," she says. "Otherwise, the outflow of cash can get out of control. That's another lesson I took from FastTrac."
Your FastTrac Connection: Judith Moore, CEO of Charleston Cookie Company in Charleston, South Carolina. E-mail: judith@charlestoncookie.com. FastTrac Affiliate: FastTracSC.
[ Read source article online ]