Various aspects of retail marketing will center on getting new customers in order to generate greater sales revenue, but before this is done, a business needs to first address their existing customer base. The majority of retail business comes from repeat sales and these customers need to be retained and solidified. You not only want the customer to come back again, but also want to see them spend the most money possible at your store, and do so over the longest period of time. Ideally you want lifetime customers. This can only happen when your customer base is strong and loyal.

Without catering to your customers, they will drift away over time, usually spending their money with your competition. A retail business needs to first address their customer base in order to keep them as customers, and in doing so, will be able to increase the amount of money customers spend with a business. You are not sacrificing more revenue by doing this as the result will not only be an increased customer loyalty, but also increased sales per customer. Without doing this first, any effort to get new customers will only be a short term stimulant to monthly sales, and will then result in a decline in sales, as these new customers go elsewhere. After you go through the trouble of cultivating them through various marketing methods, new customers must be retained; but if you cannot maintain your existing customer base, you will not be able to retain new ones.

Before you use a marketing method directed at your customer base you need to identify the group of people who you consider to be the repeat business that represents the foundation of your business. It may be a certain dollar amount or perhaps the number of visits that a customer makes to your store. These customers should be given special deals and discounts and special gifts that other new customers are not entitled to. When your customers are rewarded in this way, they will become loyal and stay with your company and will spend more money as a result.

The most common way this marketing is done is through customer cards. These cards have become common in the retail industry. They are the same size as a credit card and have a bar code that can be scanned at the time of purchase. This type of system is perfect for tracking each individual’s purchases. You no longer have to guess who is buying which products and how much they are spending. The type of data gathered is valuable for knowing which customers to offer a particular deal to.

Although this data gathered can be used to increase sales, it should never take the place of the main function of customer cards, and that is rewarding your most loyal customers. The amount of business that each person is doing with your company needs to be tracked, first and foremost, to make sure these people are rewarded with significant discounts and free offers. A customer rewards card is the best way to identify a retailer’s best customers. This technology is now available at a cost that is lower than ever before and should be explored.

Check out this company that can help improve your retail marketing strategy creating customized reward program cards and other customer incentive programs.

Check out this company that can help improve your retail marketing strategy creating customized reward program cards and other customer incentive programs.
http://www.loyalty.com/

Author Bio: Check out this company that can help improve your retail marketing strategy creating customized reward program cards and other customer incentive programs.

Category: Marketing
Keywords: retail,reward program,marketing,ecommerce,business,society,economy,finance,management,internet