We don’t want to alarm you, but a new store just move into town, right down the block, and they’re in direct competition with you. What are you going to do about it?
Hey, wait a minute! you say, I don’t see any new store! What are you talking about?
It’s there, all right – along with another one, and another one beside that one, and maybe a dozen or two more just like it. You don’t see them, because they didn’t bother to rent a building or put up a sign, but they’re there. It’s just that they’re online – and that means that they’re only a mouse-click away for your customers.
It’s true. These days, your competitors come from everywhere, and there’s a good chance that some of them have lower overhead than you, some of them can afford to undersell you, and some of them have a bigger inventory than you can afford to keep on hand.
In other words, you’re competing with the entire world.
So how can you survive? Do you have to be the biggest, the cheapest, the all-around best in the entire world?
Luckily, you don’t have to. Because you do have an advantage over your global competitors. While they have to be global in order to compete – selling to the entire world – you’re local. You’re serving customers in your area, and every time a customer walks into your store, you have an opportunity to establish – or strengthen – a personal relationship with that customers. That’s something that global, Internet-based retailer and wholesalers just can’t do. (And this is true even if you own a nationwide chain of stores, because each store in your chain has an ongoing opportunity to establish and maintain good personal relationships with its local customers.)
But in order to make the most out of your local advantage, you need to make sure that you’re taking care of business when it comes to customer loyalty and retention , and that means measuring customer satisfaction by means of client satisfaction surveys such as those conducted by the experienced professional survey takers at Compechek.
When you know what your customers want, what they like and what they don’t like, you can tailor your products, your services, your store layout, even your style of doing business to suit their needs and their tastes. And that’s something that isn’t a part of the business plan of most large-scale Internet vendors and big-box retail chains.
If you would like to know more about how the ASK LISTEN RETAIN System or how it can help create customer retention and loyalty, please contact us.