26 April 2009
Repeat Customers - The Path to Success for the Small Retailer
Apr/27/2009 17:24 Filed in: Marketing
for the Small Retailer
A Small Retailer’s Success is Tied to Repeat
Customers
Small retailers need to understand that success is rooted in building long-standing customer relationships. They should nurture their best customers by learning and remembering individual preferences and interests, acquiring this information directly from customers through personal interactions. And they should keep in touch with customers by offering mailing list sign-ups for newsletters, pre-sale announcements, coupons and mailings about other upcoming store events. These sign-ups should capture the customer’s email address also.
Small retailers need to grasp the importance of building customer relationships through personal communication and growing their profits through repeat sales.
Studies show that repeat customers:
• buy more often,
• spend more than first-time customers,
• cost less to acquire (because they already know your business), and
• even pay a premium price for your product.
And repeat customers refer new customers.
Add this up, and a repeat customer yield big profits over time
Small retailers need to understand that success is rooted in building long-standing customer relationships. They should nurture their best customers by learning and remembering individual preferences and interests, acquiring this information directly from customers through personal interactions. And they should keep in touch with customers by offering mailing list sign-ups for newsletters, pre-sale announcements, coupons and mailings about other upcoming store events. These sign-ups should capture the customer’s email address also.
Small retailers need to grasp the importance of building customer relationships through personal communication and growing their profits through repeat sales.
Studies show that repeat customers:
• buy more often,
• spend more than first-time customers,
• cost less to acquire (because they already know your business), and
• even pay a premium price for your product.
And repeat customers refer new customers.
Add this up, and a repeat customer yield big profits over time