Many business sectors, like restaurants and gift stores, see a significant reduction in their sales during the first quarter of the year making January the perfect time to reflect on key benchmarks from the previous year and to set key goals for this year.
First quarter sales growth is a excellent focal point to change annual results for this year leading into next year. What can be done differently this year to improve those metrics? Increasing touch points with customers who visit your store throughout the year is a key relationship manager that national chains brands identified many years ago, experiencing significant growth in brand recognition. How do you reach out to your customers after the leave your store?
Imagine that throughout the year, especially on your busiest days, that you have connected with each customer, collected their contact details and can now focus on filling your empty seats. How? By making special offers available to them in exchange for their trust in providing their contact information. That is the currency that they are expecting; they need a return on their trust. If your offer resonates with them, you will move the needle for increased sales when you need them.
Use your offers to add value and encourage your customers to return by letting them know that you need to clear inventory (Sale!) to make way for exciting new products (exclusive sneak peak!). Stay connected so that if you relocate, they can follow you. Invite them to a special launch event, exclusive to the most loyal! Reward them for their trust - their contact information is their currency!
Will this strategy take time? Yes
Will it cost money to implement? Probably
Does it require focus & planning? Absolutely!
Will it be worth it? Undoubtedly!
Why? Being able to communicate with your customers when you choose with the key information that you need them to know will build consistent, sustainable revenue growth and a marketing system that will be a significant asset on the balance sheet for a future exit/succession strategy as well.
For maximum return on your targeted marketing budget, invest in an affordable, tech savvy, coalition rewards platform that promotes your branding, helps manage your database, enables you to bring the added value that your customers seek and increases your marketing audience beyond your customer base for consistent, sustainable revenue growth.
(courtesy of Bond Brand Loyalty, 2018)
Maria Caines is a shop local champion focused on building shopping communities for local businesses through a marketing platform where one card works everywhere! If you would like to learn more, please email firstname.lastname@example.org or call (902) 449-7624 to schedule a personal consultation.