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Demand generation is a pivotal aspect of retail sales that entails a strategic alignment of marketing and sales to foster brand awareness and stimulate customer interest. While the approach in this video may appear unconventional, even amusing at a glance, it has systematically proven its efficacy. However, it's crucial to remember that the aim should always be to create a positive customer experience and to build trust, not to push customers to the point of desperation. Tactics such as withholding supply to create demand should be executed with professionalism and respect, not with a condescending or skewed look. After all, the ultimate goal of demand generation is not merely to coax a one-time purchase but to cultivate a long-term customer relationship. #demandgeneration #customerrelationships #sales #retailmarketing #respectcustomers #marketing #d2cmarketing

Good day #LinkedIn nation. What are the Different Types of Customers? Customers play a significant role in any business. To understand customer behavior and better allocate resources to different customers to generate the highest profit, it is necessary to identify and segment different types of customers. By better understanding the different types of customers, businesses can be better equipped to develop successful strategies. Five Main Types of Customers In the retail industry, customers can be segmented into five main types: Loyal customers: Customers that make up a minority of the customer base but generate a large portion of sales. Impulse customers: Customers that do not have a specific product in mind and purchase goods when it seems good at the time. Discount customers: Customers that shop frequently but base buying decisions primarily on markdowns. Need-based customers: Customers with the intention of buying a specific product. Wandering customers: Customers that are not sure of what they want to buy. Read all about Types of Customers in our new blog post @ https://lnkd.in/gzJejjf4 #blog #blogpost #customers #customersatisfaction #business #theglobalpoolconsulting

Beyond #Promotions & #Pricing Are promotional offers the solution to attract customers? Not necessarily, as the sales process is a behavior that customers become accustomed to. If customers get used to promotional offers and suddenly they are discontinued, these customers may not stick around. Similarly, when customers become accustomed to a certain price point, any future price increases may lead to dissatisfaction. The key to building a loyal customer base goes beyond promotions and discounts. It involves creating consistent value, building trust, and delivering a superior customer experience. While promotions can be effective in the short term, a long-term strategy that focuses on providing value and meeting customer needs is essential for sustained success in business. Believe me, if you continue to targeted this type of customers, you'll lose your compass 😅 #marketing

Top 10 Reasons to Cherish Long-Term Customers: Lifetime Value: The cumulative amount a customer is expected to spend with a business over their lifetime can be significantly higher than a single transaction. Reduced Costs: Acquiring a new customer is often more expensive than retaining an existing one. This includes advertising costs, promotional offers, and the time spent introducing the product or service to the new customer. Predictable Revenue: Repeat customers offer more predictable and stable revenue. They can often be counted on for consistent business, which aids in forecasting and financial planning. Cross-selling and Up-selling Opportunities: Established relationships with existing customers make it easier to introduce them to new products or services, or to encourage them to upgrade their existing ones. Referrals: Satisfied, long-term customers are more likely to refer friends, family, and colleagues, providing a source of free advertising and potentially bringing in new customers without added acquisition costs. Feedback and Insights: Long-standing customers often provide valuable feedback. Their loyalty means they have a vested interest in improving the product or service. Strengthened Brand Loyalty: Retained customers often develop a deep loyalty to the brand, which not only ensures repeated business but also helps in resisting competitor advances. Reputation and Trust: A stable customer base is a testament to a business's reliability and quality, attracting new customers and further instilling trust in the brand. Positive Reviews and Testimonials: Retained customers are more likely to leave positive reviews, enhancing the brand's online reputation. Economic Resilience: In economic downturns or periods of uncertainty, having a base of loyal, retained customers can help a business weather challenging times better than one that is constantly seeking new, transient customers. In sum, while acquiring new customers is crucial for growth, retaining existing customers is fundamental for a business's sustainability, profitability, and long-term success. What are some other reasons for prioritizing long-term customer retention? #sales, #marketing, #lamar, #customerservice, #ooh, #performance

Did you know that poor #SalesEnablement can make or break your brand? From damaging customer experiences to disappointing sell-through, these issues can be detrimental to your brand's success. Discover the five unlikely symptoms you need to watch out for in our latest article! Click the link below to learn more. https://lnkd.in/g5JefM2E  #Retail #RetailIndustry #CustomerExperience

Lil segmentation tip to target your eCommerce email list to make more sales: Segment your email list based on customer purchase behavior, such as: - High-value customers - Frequent buyers - One-time customers This allows you to tailor your offer to each of them: - For high-value customers, give exclusive discounts or early access to new products - For infrequent buyers, use re-engagement offers to get them back to your site.

Using promotional products is a thing, but understanding their performance is another! Understanding sales data is like putting on a pair of glasses for your promotional efforts—it's key to seeing what's effective and what's not. By examining trends in sales, looking at how your products are performing, and predicting future outcomes, you get a clear picture of how your campaigns are bringing in new customers and impacting your business overall. Armed with this knowledge, you can make smarter decisions and fine-tune your strategies to attract even more customers. So, if you're serious about boosting your business, don't underestimate the power of sales data analysis—it's the secret sauce to success! Do you agree? #branded #eminentbranding #eminentpromotions #branding #discount #offer #brandedproducts #products #promo

I *Love* this #Gartner illustration of the downstream effects of a poorly-defined Ideal Customer Profile (#ICP). Does your GTM / Marketing suffer from it? In summary: Garbage-in, garbage-out. Your entire marketing funnel, customer conversion rate, sales efficiency and product satisfaction depend upon selling to the *right* customers, not just any customer. Marketers: If you can't define/describe/discern your ICP (and conversely, bad prospects) then you're wasting time & money. HT to Dan Sperring, Bob Garcia and AlignICP for their tools and insights. Follow me for more!

🔑 Distinguishing the Value: Loyal vs. Regular Customers 🔑 In the world of business, recognizing the distinction between loyal and regular customers is pivotal for strategic growth. This analysis unveils the stark differences that set loyal customers apart from their regular counterparts across key performance indicators. 1. Purchase Frequency Loyal Customers: Exhibit higher purchase frequency due to a deep-seated trust in the brand and satisfaction with the product/service quality. Regular Customers: Their purchases are more sporadic, often driven by necessity or promotions rather than brand loyalty. 2. Average Order Value (AOV) Loyal Customers: Tend to have a higher AOV as they are more inclined to buy premium products and add more items per transaction, viewing the brand as a preferred choice. Regular Customers: Generally, have a lower AOV, making purchases that are more transactional and less influenced by brand preference. 3. Feedback/Engagement Loyal Customers: Are more engaged with the brand, providing valuable feedback, participating in surveys, and interacting with the brand on social media. This group is also more likely to participate in loyalty programs. Regular Customers: Less likely to engage in feedback or brand interactions, viewing their relationship with the brand as more transactional. 4. Brand Loyalty Loyal Customers: Demonstrate a strong emotional connection to the brand, often resulting from positive experiences, quality products/services, and effective customer service. They are also more likely to forgive minor brand mistakes. Regular Customers: Their loyalty is more fluid, with decisions more heavily influenced by price, convenience, or specific product features rather than an emotional connection to the brand. 5. Retention Rate Loyal Customers: Have a significantly higher retention rate, continuing to choose the brand over competitors and contributing to a stable revenue stream. Regular Customers: More prone to switching brands based on price, convenience, or other factors, making their retention more challenging. #CustomerLoyalty #BrandAdvocacy #StrategicGrowth #BusinessInsights #CustomerEngagement

Enhance your profit by focusing in on the "4 P's" for your products or services. 1. Price - Know your “break-even” price. - How might your price point be impacted if you were to increase your profitability by 10%? - At what price point will 20% of your target customers say “no” because of the price? 2. Package - How might you bundle this with other offerings to increase purchases/profits? - What could you upsell from this offering to easily increase profits? - How can you create a package to target a growing edge in your marketplace? 3. Payment - What payment terms could you offer to hesitant buyers that would make this an easy “yes”? - If you are providing a service, what would it look like to include a tip option? 4. Promotion - What pain point will your product/service solve for your prospective customers? - What will differentiate you from your competition? - What insights can you gain from how your competitors successfully promote similar products/services? - What marketing channels will be most effective for reaching your target customer? #smallbusiness #smallbusinesstips #smallbusinessdevelopment #smallbiz Jordan White James Quick Brad Alexander Tiffany Thompson Nicodemus Collins