Less red meat, more spaghetti. Fewer first-rate movie, more DVD rental. Release Starbucks Lathe, click McDonalds coffee. When the economy is slowing down, people from Seattle to St. Louis Pétursborg adjusted their expenditures to adapt to increased prices for all types of consumer goods and services. So how can small retailers live … and even thrive … in the economy?
"Let's start understanding the concept of consumers," says Steve O & # 39; Leary and Kim Sheehan, author of a new book, Building Buzz to beat the big boys: Word of mouth for small businesses and on the web GrabbingGreen. "In fast-paced economies, consumers will be less likely to buy incentives and more likely to spend time investigating acquisitions to find the best value."
So, how do you think, vendors, that your customers continue to shop in your store in difficult times? Here are 12 ideas to consider:
1) Continue advertising. History shows that a market that stops advertising in a recession loses market share.
2) Emphasize existing customers. You know your customers better than anyone. You know what kinds of product mixes are most appropriate for them. Use this information to create bids that are most valuable to them.
3) Listen. Gather customer feedback. Use either formally (polls) or informal (ask people in the store) tips to find out how your customers handle the recession and how your stocks could help them. Ask them what kind of special offers they want to see.
4) Focus on the neighborhood. With a sharp rise in gas prices, people are likely to drive less. Distribute some of your marketing plans to current and potential customers living near your store (also known as your retail sale area). Print media are great for this work, especially a pilot and / or direct mail.
5) Good messages are important. Think about the prices you can offer as well as discounts that may be available. Make both prices clear in your message.
6) Politeness considers more than ever before. Hear customers when they come into your store. Thank you when they leave.
7) Consider a health plan. If you do not have one mind, think about loyalty that is quick and easy to use.
8) Create an offer. Select certain products or services and pack them in price bids that you can advertise in store and by traditional means.
9) Call the service. Make sure your employees understand the value of unusual customer service at this time when customers may look for reasons to change.
10) Think of a treasure. Even if customers are getting down, according to Money Magazine, they plan to spend a small amount of their tax return or a refund on small entertainment separately. Think about what you could offer your customers as a special, simple discount on entertainment to get people in your store.
11) Co-operation with local issues. In a recession, many of your customers could be sophisticated in a philosophical way. Co-operation with charitable issues reflects well on you and can somehow prevent the benefit of your client from giving more to charity activities.
12) Evaluate ad message and response. If you are promoting sales and discounts in different vehicles (like in the local newspaper, in INVO and online), check your answers from each vehicle.
Source by Steve O'Leary