Cheaper is Better – Right?
You may think having any marketing strategy is useless if customers only care about finding the cheapest deal; however, you would be surprised on how many people value more than just a better price tag. According to RIS News, customers do not always purchase from the site with the lowest price. In fact, five other reasons drive a customer to be loyal to a store.
The RIS News’s 2016 Shopper 360 Study states that out of 5,000 survey participants, the following are reasons as to why a customer would revisit a c-store:
- 38% due to convenience
- 23% for excellent service
- 23% for hard-to-find/unique products
- 20% over reputation
- 19% for a loyalty/rewards program
How can you grab customers and turn them into loyal ones? According to The Perspective, the secret is to make customers LOVE your business.
Making customers prefer your c-store amongst the rest requires looking past traditional product marketing and instead focus on building customer relationships. This means having more than just coupons and a simple “hello” when customers enter the store.
You have to understand your customers. What do they value most? What kind of products to do they prefer? What kind of innovation do they admire? All of these types of questions will help you analyze what it is your loyal customers want most. By providing what they desire, you will be able to tap into their hearts and earn their trust as a business.
Understanding your competitors’ successes is also helpful in creating an attractive loyalty program. After all, why recreate the wheel? In fact, the goal should be to get ahead of your competitors.
By researching the industry and your area, understanding the latest trends, and using applicable tactics to attract customers, connecting with consumers on a consistent basis and analyzing your competitors, your business will be able to develop a business strategy.
For example, what if your competitors had lower prices at their store? Sure they might attract customers that value cheapness, but you can still have the upper hand. Your c-store could use technology and social media to advertise and connect with the public. In turn, millennials may flock to your business because they feel they have a connection with yours over the other. In today’s market, millennials like to shop at businesses with specific values, according to The Daily Egg. This tactic is something your company can use to influence their customer base.
Knowing this kind of information is what will help you develop and maintain a loyalty program. You will not only be able to improve your brand but also provide an excellent customer experience. Providing more than the resources your customers need to make daily purchases will make your c-store the preferred one-stop shop for long-term consumers.
To learn more about loyalty programs and tools that can help build your customer relationships and gain foresight to your consumer’s needs, click here.