Attract
& Keep Better Customers.
Use better methods of
finding customers with higher profit potential.
Focus on the long term.
Instead of
concentrating only on quotas, closing and other short-term goals, think about
what you'll have to do today to ensure success in five years. Make your
customers a top priority - and not just because you need them to meet your
monthly or quarterly goals.
Look beyond your
competitors.
Competitor-driven businesses often spend valuable time watching the competition
that should have been spent cultivating and taking care of customers. If you
need direction, take it from your customers - not your competitors.
Market your company as well
as your product.
What does your company offer other than a great product? Do you have a U.S.P.? A
Unique Selling Proposition. That unique characteristic that sets you apart from
the competition? Do you provide superior service? You'll keep customers more
easily if they're loyal to your products and your company.
As your customers change,
you need to change too.
Don't be afraid to take a chance with a creative off-the-wall approach to boost
sales. Sometimes the most unusual ideas are also the most effective.
Use Private Label Credit
Strongly consider having a Private Label Credit Card. A credit card with your
name on it in a customer's wallet will give your store the first opportunity to
make the sale. It will keep more customers coming back. It will help you grow
your customer base. You should have a "transportable" credit
portfolio. If you don't know what that means, it's time to call on Nationwide
West. Plan long term - pay less attention to up-front participation and more
attention on keeping your loyal customers. The idea is to offer as many payment
options as possible so that you totally remove payment as a barrier to making a
purchase with you.
Create Special Offers to
Past Customers.
The most profitable customers you can sell to are your past customers. They have
already done business with you and should have developed trust in your people
and in your products. Why not take full advantage of this fact by developing
specials for "preferred customers?" Credit card companies do this all
the time-just watch your mail this week!
If you negotiate a special deal
for some product or are planning on carrying an entirely new product line, why
not let your preferred customers know about it BEFORE the rest of the world? Go
a step further and offer them special pricing on those products or services if
they act before a certain date. You'll be amazed at what happens. Your customers
will feel special and many will take you up on your special offer! That's a
great way to improve your bottom line and customer loyalty!
Use Cross-Overs With Other
Companies.
This is a powerful marketing technique. It is so simple; many companies just
don't put any faith into its true power. The idea is to work with other
companies to offer each other's products and services to each other's customers.
It's reciprocal and it is profitable for BOTH companies. Here's how it works.
You can approach retailers from
other industries or people who provide you with services and ask them to send a
letter on their letterhead to their clients telling them of your products and
services and how these services and products have been of help to them. The
letter should offer some bonus or savings, compliments of the business that is
sending the letter. You would not believe the response to such a letter!
Then, you could do the same thing
with other retailers. You might offer all patrons of a local restaurant a free
Associated Warranty with their next purchase at your store. In return, you might
offer your customers a voucher for one free drink, of half off the regular cost
of a dinner at the restaurant you are reciprocating with. Both companies win,
and there is little or no money involved! Absolutely perfect!
Remember Your Customers at
Holiday Time.
Why not tell your customers how much you appreciate their business all year long
with a thoughtful (as opposed to generic) holiday greeting card? You might even
include a voucher for a special items you have on sale or just a simple
"$25 off their next purchase" coupon, redeemable in January and
February. What a great way to increase sales in the lean months.
Not only that, but you'll
reinforce that fact that your customer is important to you and you appreciate
their continued patronage. It's a very powerful tool that just is not used
nearly enough!
