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Building customer loyalty
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May 5, 2000: 10:29 a.m. ET
You'll need an aggressive campaign to keep your business from walking away
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NEW YORK (CNNfn) - Dear Jane: We sell soft furnishings (like decorative pillows). All of a sudden, we are surrounded by new retail stores selling almost identical goods. What can I do to stay ahead of the competition?
If your competitors are selling the same products or similar products, you'll have to maximize the one advantage you have -- your existing customer base. Now is the time to begin an aggressive customer loyalty campaign. Contact all your customers and offer them a substantial discount on their next purchase just to get them back into the store.
If you don't have a data base program tracking sales and exactly what folks are buying, then get one. You should be entering all their purchases, down to the color and fabric of the accessories they buy. Then, when you get new inventory that may interest them, you can call or send a postcard saying that you have some fabulous new velour pillows to go with that bedspread they purchased last month.
Try to create an innovative cross promotion with a nearby company. Perhaps you can work out a deal with a local mattress store to provide a free down quilt or bedspread with every bed and frame sold.
You also should organize some sort of charity drive to attract positive attention. For instance, you could ask your customers to donate their old blankets and pillows to a homeless shelter. Then offer them a discount on anything new they purchase in the store after they make their donation.
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ApplegateWay
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