What is it that makes people loyal to a particular retailer? Is it the prices, the quality of the products, or the way that they are treated by the store?
For discount stores, like Wal-Mart, the attraction is price. There are always transaction buyers – people who think only of price. They read the ads and visit stores only when what they want is on sale. They have absolutely no loyalty. If you are not a mass-market discounter, you cannot make money from such customers. Rather then cultivate this type of market, , it would be better to provide them with the telephone numbers of your competitors and invite them to visit them. For a regular retailer to compete with a mass discounter on his own turf is almost committing suicide.
Product quality is important in customer retention, but only up to a point. A long time ago If we wanted quality products, it could take a day’s journey to travel and find known large retail brands … Those days are over. Retailing has become so advanced that most customers are within easy driving distance of a large mall or shopping center with a wide variety of stores having anything that they could conceivably want to buy.
The relationship with the retailer is what keeps people coming back to a given location versus another.
What can be done to make your operation unique as far as relationship building?
The answer, –> develop methods to know your customers ” better than the other retailers know their customers and communicate with them as much as you intelligently can…
Get to know them build a relationship with them in store and outside, understand how they react to your promotions, how they perceive you as an owner, your marketing efforts, your sales, your sales people, your inventory, and the efforts you devote to treating them special…
Only then will you understand the full scope of what will make your customers loyal!
Marketing Management Group, specializes in relationship management ! for more information on 360 degree program, visit us at: mmgroupusa.com
For more information on the implementation of our program, www.mmgroupusa.com