We talk to retailers everyday and one thing that is top of mind for all them is inflation and how it will impact them the rest of the year.
So today, we want to offer five tips on how clienteling will help you beat inflation. Full disclosure, much of what we're going to tell you is made easier with a tool like Clientbook. So, if you’re a customer, you’ll know what I’m talking about. If you’re not, that’s ok. These tips can still help you.
1 – Identify your best customers
Don’t waste time and money chasing customers who aren’t ready to buy yet. Identify who your best customers are and how frequently they are likely to buy.
2 – Get personal
When you know your clients’ preferences and tastes, you can tailor offers they are most interested in. Determine what products complement purchases they’ve already made, what occasions they are most likely to shop for, and who is on their list.
3 – Do more with less
Don’t hire more sales associates! Help your current sales associates become more efficient by automating time-consuming tasks. Map out a post-purchase sequence that can be triggered and run independently from the follow-up activities they’re already doing.
4 – Rethink your Advertising
Customer acquisition costs are rising rapidly. Your advertising dollars are not going as far. Nearly 80% of consumers distrust ads anyway. We’re not saying don’t advertise. We’re saying tap into your existing customer base more. They’re already on their phones. Find reasons to reach out and send them a message.
5 – Never waste a good contact
Unfortunately, not everyone who walks through your door will buy. Make sure you have an easy process to capture important details from store visitors who don’t buy! Chances are your competitors are doing this and will follow up with them. You should too.
You might already be doing some or all of these things. In any case, having a game plan and staying consistent will be the key. Oh, and having the right tool like Clientbook doesn’t hurt either.
Best of luck as you make your retail business grow faster than inflation.