CUSTOMERS:  One is Silver and the other is Gold

Remember the old saying?  This is usually a reference to friendships, but in this case, we are going to apply it to your customers.

Your customer base is the most valuable asset you have.  Think of your existing customers as gold. Real profits are made from your current repeat customer base! While it is important to grow your business by attracting new customers, your loyalty should be focused on customers you already have. Here are some strategies for building a better relationship with your current customer base and for attracting new business.

Customer loyalty comes from GREAT customer service. Each business strives to be unique, but great customer service will separate you from the rest of your competitors. It is even more important to make every effort to satisfy your customer’s needs. By treating your customers as the most important part of your business they will find the experience rewarding and will in turn be happy to pass along the positive experience and promote your business for you!  It is essential to stay in contact with your customers! This means you need to make personal contact often with your customers in some form, by phone, text, email or the more traditional route of handwritten correspondence. 

Offer the right product - at the right quality - at the right time.   Your customer is a strategic partner in bringing in the right merchandise at the right time.  Listen to your existing clientele in order to satisfy their needs. Respect and value their opinions, and use the information that you gather from them to promote the products that they are asking for.

Having the right product is the first step, but you will also need to promote your product to sell it. Your top customers are the perfect place to start.  Offer special promotions or events to give them a sneak peek or the opportunity to get the merchandise first. When you bring in quality merchandise at a good price, you will be able to offer special deals without taking away from your profit margin. It is very important to prepare and execute your promotions for the right time. Create a marketing plan and always evaluate the success by tracking and monitoring your customer’s purchases. Remember that some promotions will be successful and some will not. Review what worked best and utilize the successful actions in the future. This can save you a lot of time when you are bringing in new merchandise or promoting new products.  Listening to your repeat customers will build and nurture customer loyalty that will not only bring them back, but it will also give them a reason to refer new business to you!

Potential customers are like Silver, and they have the potential to become GOLD!  They are integral in growing your business.  Be sincere and confident with a potential customer, and commit to servicing all customers with honesty and integrity!  They need to know that you have a genuine interest in helping them.  Ask questions and listen.  Be gracious, even if you can’t meet their needs right away.  Remember you are making a first impression that will go a long way in customer satisfaction.  People are seeking a good shopping experience, and you must excel over your competition.  If you are providing great service, they will continue to pass along goodwill, and this will promote your business to others.  So take that extra step. Be helpful, friendly and offer a little something extra to your most valuable customers. 

  

Never underestimate the power of your dedication to your customers and improving on your level of customer service. I believe they are linked and should quite frankly be that portion of your business that you refuse to compromise.

There is nothing better than walking into one of your “fav” shops and you hear the salesperson say, “Hi (your name) good to see you…how can I help you today?” There is a great amount of buying power in that recognition.

Just the other day…I walked into a perfume store with my daughter…I had been there a few months ago with my mother-n-law. She had made a nice purchase that day and I bought a couple bottles as well. I asked the salesperson one question about a fragrance and she answered in such a way that I could tell she remembered me. I lit up inside! In that moment she captured my heart and my wallet! And, she topped it off by asking me for my number so she could call me the next time my “fav” scent went on sale…I am completely hooked now, because not only had she remembered me, but she was setting it up so she could save me time and money on a future purchase.

 That should be every store owners dream…to have a salesperson that strives to make every customer that enters their door feel special, recognized and positively satisfied. There is a lot of competition out there…and distinguishing yourself from your competition creates lasting customers.

When you create a system that identifies the services you offer you can build on your client satisfaction and expand on it. Let’s call that satisfaction client delight…which then leads you to customer commitment.

We have to become attuned to enhancing and adding value to all customer interactions. Remember customers see value when they are offered services that complement their own values, according to their individual needs, wants or demands.

1) Customer retention value: there is a savings to you (store owner) in not losing a customer vs. the cost in finding a new customer is 5 to 10 times more effort than that of servicing an existing customer.

2) Customer referral value: utilizing your customers extended family, personal and business contacts to gain new business .

A profound lesson I’ve learned: we are striving for customer loyalty. How do we achieve it? Be loyal to our customers!