Tag Archives: customer relationship marketing

Most Retailers Miss This Huge Black Friday Opportunity

The ads are prolific for the biggest retail sales day (not profit) of the year…Black Friday. However, most businesses including physical retail store never go the extra step of developing a relationship with their customer.

Black Friday Sales are Brisk and Largely Unprofitable – Should Be Viewed As Lead Generation

Shopping Savvy customers are more often than ever making their list of deals, buying the deals and leaving. Cross over selling is declining. This means that most of the sales on Black Friday are unprofitable or just slightly profitable. Attention: take advantage of Black Friday’s increased traffic and look at it as a great lead generation opportunity.

Why Do Retailers Continue Black Friday Promotion If They Are Not Profitable?

If retailers do not compete on Black Friday someone else will grab that customer and there will be a loss of customer loyalty. Several years ago WalMart moderated their Black Friday and holiday promotion strategy and it was costly. Following that season they vowed never to be out of that game again. Since you are in the game capitalize on the the traffic at a minimum with a name and email capture campaign include text messaging lead capture if it is appropriate for your business.

Most Retailers Continue To Ignore A Great Opportunity When A Customer or Prospect Walks In The Door.

Customer Relationship Marketing is a huge opportunity. People want information and want to know “their store cares”. It is insane to focus on recruiting the store staffing with the right image and customer service attitude then not go the extra step to capture name and email address for a follow-up thank you.

For an increasing number of businesses adding text messaging marketing makes sense. However, it will not replace email marketing anytime soon. Email marketing and text message marketing will not replace the positive feeling someone gets when they receive a physical card. There are many businesses that should Send Out Cards.

I advise every one of my clients to implement a relationship marketing campaign.  There are numerous success stories. A recent very notable one is a company  just beginning to implement a relationship marketing strategy and the results are very positive in less than 60 days.  The winter season is the slowest time for their business. There have been cash flow problems in the past.  This season is shaping up to be very different in a positive way.

Action Steps:

Develop a customer relationship marketing strategy.  Part of the relationship is educating your customer on products, services.  Focus on the value you deliver rather than the latest deal.

Get A Business Coach! If you already have a business with more than 10 employees, Hire A Consultant who is  able to work with you part of the time on-site.

Would you like to be in the next group of very successful companies and entrepreneurs?

Contact me now.

Steve Pohlit

International Business Development Consulting
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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.

Steve offers his  build business profits expertise to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.  Steve incorporates health and wellness plus relationship guidance in his work as they are at the foundation of achieving all goals.

All articles published by Steve unless specifically restricted may be freely published with this resource information.

 

Retail Industry News: The Sky Is Falling

Another article today in the Wall Street Journal and I am sure there are many other headlines as well about the state of the retail industry right now with retail companies dumping inventory at deep discount pricing, concerns about liquidity and credit not being available for doing deals (mergers and acquisitions)

I am not denying the specific examples cited in these stories. Circuit City is real, Pilgrim’s Pride is real and I am sure there are other bankruptcy filings today in the private sector. The real issues is leadership mindset.

I published the following comment in the Wall Street Journal today in response to an article “Retail Faces A Long Season of Stress” My response is relevant for all companies and entrepreneurs regardless of the industry:
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Many companies have developed their culture to focus on building a positive value added relationship with their customers and prospective customers. These businesses will feel much less of an impact of a global economic softening than others. Some will thrive. The operative phrase is cultural change.

Regarding credit markets and consolidation in the industry, credit constraints are real. However, it is also true there is capital available and if a deal makes strategic sense, it can get done.

Our most immediate challenge is mindset. We are tested in our ability to look for opportunities and solutions when media focuses on every possible negative story. Those who succeed with a consistent mindset that they can move forward successfully, will do so.

There are countless examples throughout history, including the depression era, of people moving forward and not being stuck. Mindset is a choice for each of us and is not a result of external events.

 

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit,
The Profit Expert
www.StevePohlit.com

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Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871

This report may be freely distributed without restrictions with the original content including this resource box remaining unchanged. Author: Steve Pohlit, Business Consulting Services, Executive Coaching, please visit www.stevepohlit.com

PS. My doors are open for new clients and referrals are well compensated.