Harvard Management Update completed a survey that should alarm most business owners. It revealed, "Eighty percent of companies believe they deliver a superior customer experience, but only eight percent of their customers agree."
With this in mind, we are going to review 3 D's to implement to increase this percentage to make more of your customers High Profit Promoters like we discussed last time.
- Design the Right Promotions - We want as many of our customers as possible to be High Profit Promoters. That means they not only buy good amounts of merchandise, but also are great advocates for the company. Design promotions for these customers to provide incentives for them to sing praises about your store. Many promotions can cost very little in comparison to the sales that they can end up generating.
- Deliver the Promotion to the Customer Effectively - Often the best promotion idea can become botched due to poor planning and execution. Prior to offering any promotion, know what your customer wants. Talk to the customers in your store to get their opinions. You may even take a couple of your best customers to lunch to find out their thoughts and ideas. These ideas and opinions can then be used to more effectively execute your promotions.
- Develop the Skills to Repeat the Process - Customer value promotions must continually be evaluated and changed. They cannot just continue to remain the same. With this in mind, the first two steps must continue to be repeated so that your promotion is a success every time you execute one. Also keep in mind that part of developing skills is to keep your employees well trained and well treated so they can (and will want to) effectively service the customer.
If you apply these 3 D's to your business plan, you should notice an effectiveness in truly satisfying your customers' experience in your store.
About Harvest Scents and Traders
Harvest Scents and Traders is based in the Fishers, Indiana suburb located on the northeast side of Indianapolis. Harvest Scents and Traders specializes in helping retailers become more profitable by providing uniquely designed wholesale home décor and giftware. Harvest Scents and Traders' customer base is made up of gift shops, chain stores, crafters, online retailers and general retailers.
Learn more about Harvest Scents and Traders.
|
