How to stand out amongst your competitors: tips for successful retailers

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Apr 07

How to stand out amongst your competitors: tips for successful retailers

The competition between retail businesses is quite often fierce and one has to work hard in order to attract and keep customers. So what can a retailer do in order to get noticed, turn existing customers into loyal clients and promote their business?

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Tip 1: Do research

Even if you are an established and well-known business, your goal is to always expand and reach more customers. To accomplish this, it’s especially important you do some research. Find out who your customer is: women with children, business travellers, young professionals? The key to increasing business is satisfying the needs of your target audience. Once you determine this, you can offer him or her something unique and valuable, then your business is going to be not only financially successful, but well-known for its product value.

Tip 2: Explore different media

Pay close attention to where your clients are moving today. With everything going digital, it may be reasonable to launch or renovate your website, develop an e-newsletter or start an online catalogue. This strategy will assist you in reaching your clients and online presence will be a valuable asset for your business, as it is time-saving, efficient and offers a wide variety of opportunities, from advertising to direct marketing.

Tip 3: Be creative

Despite the type of goods that you are selling, you’ll always be dealing with competition. If they do more market research and are more creative than you, they’ll outperform you. So, do not be afraid to come up with innovative ideas and different advertising campaigns to attract clients and differentiate yourself among your competition.

Tip 4: Do not forget small details

What should you do in order to obtain loyalty from your customer and turn them into your followers? The answer is paying attention to details. Ideas such as: small presents to the most loyal clients, incentives on special occasions, personalized marketing (i.e.  cards on holidays, birthday wishes). All this adds to the quality of your product and is remembered much better than the product itself.

Tip 5: Be honest

Make sure that if you are claiming to have the biggest choice of bags in town, it better be a true statement and not just an advertising message. Even if you are able to attract clients with false statements, the business-customer relationship would not last long and what you are looking for is establishing a bond between your business and your client. A relationship built on trust would not only provide you with loyal customers, choosing you over the competition, but also can guarantee referrals from existing clients, which will lead to market  share expansion.

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