There are customers and then there are your top customers. At Salty Waffle, we’ve found that the top 20% of your customers will bring about 80% of your revenue. If you’re able to generate more of the 20%, your retail business is bound to increase sales. The problem is that most businesses try to sell to everyone. This method will not help you get the quality repeat customers that successful businesses generate. Defining your target customer, the ones that will buy your products when they’re in front of them, is the secret to successful business.
Let’s look through your customers eyes. They know exactly what what they want and are on the hunt to get it. When they find what they are looking for, they are ready to pounce on it. If your business doesn’t allow them to find it easily, they will move on to the next guy.
Knowing this makes it easier in developing a strategy to attract these customers. The best way to get them to buy from your retail business is by making it dependable, consistent, and predictable. If you ask yourself if your retail business is each one of these, and the answer is yes, then you have the recipe for increasing that top 20%. If not, take a look at which ones you didn’t and figure out a way to fix it. Happy customers means increased sales. Make sure you’re the one making them happy, not your competitors.