The Retail Buzz

Too many retailers concentrate on how to woo new customers and, thus, they do not pay enough attention to what they can do to gain the loyalty and increased patronage of their repeat customers.

For example, when was the last time that YOU ran a special sale just for current customers, communicated with your current customers via a phone call or direct mail piece, encouraged current customers to recommend new ones by giving the former a gift for doing so, sent birthday, anniversary, or Christmas / Hanukkah cards to current customers, offered extended shopping hours just for current customers, etc.? Unless you are actively engaged in all or most of these activities, you can do a better job in this area.

Here is why it is so important to target current customers, as well as new ones:
It is more efficient to serve repeat customers than to heavily promote to lure new ones.

Often, new customers are lured because of a special sale, buy goods that have a low markup to the retailer, and then switch to another store when it runs a sale event. Repeat customers are more apt to buy a full range of merchandise, not merely discounted items. This means that the retailer can reach its profit margin goals.

Loyal, ongoing customers are the backbone of every business. And in today's highly competitive environment, these shoppers cannot be ignored or else they may be won over by compe titors.
Revenues can be increased (not just maintained) by placing greater attention on repeat customers. They can be encouraged to shop more often and to purchase more on each trip to the store.

From Joel R. Evans, Ph.D. & Barry Berman, Ph.D.

Contact one of our Sales Reps on how to better taget your clients. Call 866-617-8181 or send email.

http://www.onestepretail.com/