Customer Loyalty
Customer Loyalty
Loyalty programs are a hot topic, and rightly so, but they have to be executed properly to make sense for a small retailer. There are countless examples of loyalty programs from grocery stores and big box retailers, but how special does a customer feel because they got a discount for carrying a card on their keychain? Do customers really value e-mailed coupons, or do they want to be treated differently in a personal way?
I think that retailers can derive a lot of immediate benefit from a well designed loyalty program, and that benefit will continue to accrue as long as you keep that customer. The idea is to understand more about your customers so that you can provide them with better service, product availability, and targeted marketing to help fulfill their desires.
Is price a problem? Sure, customers are always going to shop on price, but you can reduce the impact of a competitor's price promotion if you have properly positioned yourself as a customer's retailer of choice. What does that mean? It means they'd RATHER come to your store than the competition because of the experience they have when they're there. It means letting your customers know that you understand their needs and wants, and that you can accommodate them in a price conscious and friendly way.
This takes a combination of marketing by mail and e-mail, as well as deriving feedback from customers and employees to understand buying patterns. Carefully analyzing this data will give you the power to satisfy your existing customers, even in a recession, and that is invaluable. Emphasize the value you provide, keep them happy, and keep the sales rolling in.
Don't neglect your new customer marketing, but utilize the data you have to build a powerful loyalty program with a great ROI and long lasting benefits.
Customer Loyalty - To learn more about this author, visit Will Atkinson's Website.
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Customer loyalty is in vogue right now, everyone wants to be a VIP and to get special offers, but what does it mean to you, the retailer?
Loyalty programs are a hot topic, and rightly so, but they have to be executed properly to make sense for a small retailer. There are countless examples of loyalty programs from grocery stores and big box retailers, but how special does a customer feel because they got a discount for carrying a card on their keychain? Do customers really value e-mailed coupons, or do they want to be treated differently in a personal way?
I think that retailers can derive a lot of immediate benefit from a well designed loyalty program, and that benefit will continue to accrue as long as you keep that customer. The idea is to understand more about your customers so that you can provide them with better service, product availability, and targeted marketing to help fulfill their desires.
Is price a problem? Sure, customers are always going to shop on price, but you can reduce the impact of a competitor's price promotion if you have properly positioned yourself as a customer's retailer of choice. What does that mean? It means they'd RATHER come to your store than the competition because of the experience they have when they're there. It means letting your customers know that you understand their needs and wants, and that you can accommodate them in a price conscious and friendly way.
This takes a combination of marketing by mail and e-mail, as well as deriving feedback from customers and employees to understand buying patterns. Carefully analyzing this data will give you the power to satisfy your existing customers, even in a recession, and that is invaluable. Emphasize the value you provide, keep them happy, and keep the sales rolling in.
Don't neglect your new customer marketing, but utilize the data you have to build a powerful loyalty program with a great ROI and long lasting benefits.
Customer Loyalty - To learn more about this author, visit Will Atkinson's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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