MMOIA

By Bob Hamilton

One of the often forgotten secrets to achieving success when you own a dollar store is retention of existing customers. While you must join the crowd and work to grow the number of new people who enter your dollar store, that effort is really fruitless unless you have a strong customer retention program in-place. You must do everything in your power to make existing shopper happy. It all starts with providing a warm inviting store. You must also provide outstanding customer service. You must provide dollar store merchandise that meets the needs and wants of your existing customers.

#1) Existing customers already know your store. They know where to find the dollar store merchandise you sell. They know where to find the merchandise they wish to purchase. If you own a dollar store you’ll discover many existing customers even know the employees in the store.

#2) Existing customers are often your strongest sales people. Word of mouth advertising is one of the most powerful ways for new shoppers to learn about your store. Existing customers are the ones who do that word of mouth advertising for your dollarstore.

#3) Existing customers will offer ideas and suggestions such as new dollar store merchandise to sell; helping to grow your business sales to new levels. Many existing customers will begin to feel comfortable with your dollarstore. They will know customer ideas and suggestions are appreciated and used to improve the store. Those inputs are invaluable to achieving success when you own a dollar store.

#4) Making sales to existing customers is much less expensive than investing to bring new shoppers into your store. There is a cost associated with every new shopper who enters your dollarstore. It might for newspaper, radio or television advertising. It might be for giveaway items, fliers, mailers or other promotional items. That investment is important in new shopper is important to your long-term success. Yet from a bottom-line perspective selling to existing customers costs less.

#5) Existing customers know the dollar store merchandise you carry. Those who own a dollar store also know they will on-average spend more with every visit. While there are exceptions to this rule, you’ll soon discover why it’s included. Most who enter your dollarstore for the first time are unfamiliar with what you have to offer. While some first-time buyers will purchase an item or two, many will leave without making a purchase at all.

To your dollar store success!

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Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.