Since you can’t be everything to every customer, Tom Shay of Profits Plus says it’s essential to define your target customer. While it may be tempting right now to cut back on targeted marketing, Shay says that strategy is short sighted.
He offers some ideas on how you can continue thriving with your target consumers:
- Stay Connected with Customers: Your best spent advertising dollars are those that keep you connected with existing customers. Research shows 65% of customers that shift their loyalty from one retailer to another do so because of the perception that the original store doesn’t care.
- Follow the Consumer: To be successful today, Shay says you must be creative and think about where your customers are getting their information. In many cases, it’s no longer traditional media, so it may be time to reconsider where you spend your advertising dollars.
- Get Social (Marketing): More and more people have a Facebook page these days, from students to CEOs to grandparents, and advertisers are becoming more adept at reaching these consumers. Don’t miss out on the opportunities to reach consumers through social and business network sites like Facebook, MySpace and Linkedin. Sites like YouTube.com let you create as many videos as you like on your product and services, or on how customers can care for their jewelry. [link the four sites listed to their respective websites]
- Utilize Cause Marketing: Shay notes that everyone has seen pink ribbon promotions, but there are over 200 recognized ribbon causes. These organizations are ready, willing and able to spread the word about your business.
- Extra Tip: Jewelers For Children (JFC), the industry’s charity, also offers many ways to incorporate cause marketing into your store. Visit the JFC website, www.jewelersforchildren.org, for more information.
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