If you’re going to go the route of discounts, make sure you give your customers a good reason for the price break (to overcome skepticism). Consider giving discounts for only your best customers, only for new customers, or on new products only. Other good reasons could be if this is historically your slowest month of the year or if you’ve received an incentive from your supplier.
For a potential sales boost, consider sweepstakes and drawings. Perhaps one customer’s name will be drawn at the end of the month and their purchase price will be reimbursed.
Even better than discounts or drawings is increasing the customer value. Increase the order size. Or include “premiums.” Give your best customers free lunch, gift wrapping, or team up with another business. Working with a related (not competing) business can increase your customer base. Perhaps a dry cleaner and a suit shop could team up. The suit shop hands out free dry cleaning services to their best customers and the drycleaners giveaway vouchers for a free tie.
Customer retention and appreciation is important. Not only does this improve your reputation, but getting new customers is expensive. Be willing to spend as much on regaining a lost customer as it costs to get a new customer.
Keep in contact with your customers. Send cards or newsletters. Provide useful information and maybe an occasional gift. Offer a variety of goods/services that you have chosen to appeal to your best customers. Make your best customers feel special. Sales surges can be a well-needed boost, but always consider the long-term. What are you doing to bring the customer back?
For a strategic marketing consultations please call (715) 584-6773 or email terra@fletcherfreelance.com today!
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