Make sure that every customer who visits your store never leaves before one of your sales staff has collected their complete contact information (name, address, phone and e-mail etc) This is essential. Over time, it will become the biggest asset of your retail business.
This list of customer information will enable you to grow your business successfully. Having this list of customer information enables you to communicate with your existing customers frequently so that you can draw them back into your store when you have a sale, products on special, a new product or any other promotion. You can keep in contact with your existing customers so that they are up-to-date and informed about your retail business. This will give them a reason to visit your store more frequently and purchase more frequently.
You can monitor your customer information list and identify those customers who have not purchased from you for a few months. Rejuvenating these past customers will enable you to entice them back into the store with offers of new products, sales, and promotions. These customers are very important because they already know and trust your retail business and would tend to buy more than a new customer. They are obviously the source of a lot of profit and the only way you can identify them is through your customer list.
This customer list will also identify new customers. For example, if you have been running a referral program you will be able to see how many new customers have been generated. These new customers can be informed via e-mail or direct mail of your referral program and can be encouraged to join it. If you insert an advertisement to local paper you will be able to do a cost benefit analysis based on the number of new customers that it creates.
You can use your customer list to send out direct mail, e-mails and newsletters. It will obviously be a very targeted list because they are your customers. You can also use this list to conduct customer surveys and announce customer competitions. Although the actual customer competitions are probably run best in store.
If you decided that having an on-line business would be a useful addition to your retail outlet, obviously the first people you would contact would be your existing customers.
The strength of your retail business is reflected in the quality and accuracy of your customer list. Anybody in retailing is urged to develop and maintain a list of customers.
Peter L Mitchell is a business consultant who has helped many diverse businesses to increase their profits. He has a wealth of practical experience which he is willing to share freely.
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