January 2011:Facing Pages 14/12/10 13:12 Page 39
jane iredalewrites
time for a sale - or time to build loyalty?
Jane Iredale explains why make-up should be part of your retail strategy for profit and business success in 2011
The post-Christmas spending dip in January is a time when customers traditionally expect to pick up discounts and bargains, but discounting is not a strategy for long-term success.
Consumers can become conditioned to sales at a discount, and when you return your prices to normal you will inevitably lose a large group of customers.
One of the main questions you need to ask yourself is: is increased volume at the discount price making up for the profits lost by discounting?
If so, you need to remember that often discounted goods are perceived to be of inferior quality, meaning that not only are you tarnishing a brand’s image and their products, but you could also potentially be damaging your own reputation. Consumers evaluate their services or the products based on external cues such as pricing, so if the price is too low they will perceive the quality to be poor.
There’s no denying that expectations drive behaviour, and with this in mind the following advice should give you a few ideas of how to exceed your customers’ expectations.
act on impulse
Marketing research supports that placing attractively merchandised products within five feet of your cash register will lead to impulse buys. Use a point of purchase display but give them plenty of room to put their pocketbooks down and get out their purses. Then they will look around and discover the products.
give yourmenu a makeover
And I don’t just mean aesthetically! Make sure you include makeovers on your menu, as it legitimises them and creates interest for the client.
relationships are key
From politics to selling, everything is improved when you strengthen your
relationship.Always remember that people buy from people they like. They like you when they feel they can trust you, you have credibility and integrity, they know who you are.
find your USP
It’s so important to find out what sets you apart from competing businesses and emphasise that each day. Use it in
your positioning in everything you do. What is it that makes your business so special? Once you figure it out, you can begin to attract like-minded clients and you can build connections and that’s what keeps people loyal.
don’t take people for granted
The loyalty factor is huge, which is why the number one reason that people will leave you is because they feel taken for granted. Customers won’t complain about it, they will just move on.
build a bond
An emotional connection is key to a successful business and therefore
sales.And it should be key for us because in a society that makes it more and more difficult to touch people, we are in a business where it’s impossible not to touch someone if we are doing our jobs. It’s OK for us to touch a client’s face when she is explaining challenges she has with her skin.We all know that this builds a bond of empathy and builds a relationship that leads to loyalty. Obviously you have to be careful not to step over the line of professionalism, because that can end up destroying the relationship you have worked so hard on.
GUILD NEWS 39
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