Global Wave Ventures: 4 Ways to Retain Your Customers

Global Wave Ventures: 4 Ways to Retain Your Customers

It is important in today’s competitive market to stay connected to your customers, keep them loyal to your store and coming back to buy frequently. There are countless challenges to “steal” your customers—other specialty retailers, sporting goods retailers, online websites, company-owned stores, discount channels and more.

Anyone who walks into the store is YOUR customer—how long you keep them depends on your interaction with them. It is more economical to keep and nurture customers already familiar with your store than to attract new ones. A recent small business article noted that “it costs TEN TIMES MORE to acquire a new customer than to up-sell a current one!”

Dave Seehafer, Global Wave Ventures industry analyst, has over 25 yeares of experience & relationships, and provides guidance and solutions in areas such as inventory and open-to-buy, private label resourcing, profit analysis and more with special rates for B.R.A. members.

Check out the 4 ways to keep your retail customers loyal:

  1. Establish your store as “THE EXPERT SOURCE” of product knowledge, selection and customer service
    Know your top customers by their first name
    Offer a “try before you buy/buy back guarantee”
    Apply any lessons or rental fees to the purchase price
    Follow-up with a personal phone call AFTER a major purchase to see how it’s working
  2. Keep your customers informed on shop sales, special events, new products, film releases, contests and more
    Work with key vendors to have a sales rep show & explain new products (works great during wetsuit season)
    Use a combination of email, mail, text and phone calls to stay connected
    Track mailings to gauge effectiveness—use special promo codes, numbered cards, etc.
  3.  Offer a free t-shirt or hat with every major purchase
    This is where store-branded/private label merchandise is useful
    Partner with a key vendor to offer a gift-with-purchase or purchase-with-purchase special
    Give shop stickers with any purchase
  4.  Ask your customers for referrals, and offer a discount in exchange
    “Tell your friends—get 10% off”
    Offer “friend/group” special on rentals or lessons

Making your customers feel special & appreciated will go a long way to keep them loyal AND spending frequently in your store!

For more ways to keep your customers loyal, call 949-466-4110 or