Seven reasons you could be failing to attract new customers. Failing to attract enough new customers is worrying, but if you know why it’s happening you might be able to turn things around. Retail operations are full of details, we look at some of the reasons why customers could be going elsewhere and not to you.
Peak Retail Insight offer a number of services to help you understand how to improve your business, with practical plans driven by customer insights and our own shared retail expertise. All of our services have been developed to give you a real action plan, created with you, to help drive footfall, sales, profits, and customer satisfaction. Our programme offers a full retail improvement experiences, with different packages designed to suit all budgets and needs.
Tailored to your business Peak Retail Insight mystery shopping services are far more than the typical ‘tick box’ programmes of the past and go into the detail of what really affects the customers’ experience. There’s no ‘one size fits all’ mystery shopping programme. We create unique, flexible and results orientated programmes for each client that recognises and rewards great customer service, all of which are underpinned by many factors with your retail operations.
Shoppers have never been more careful about how they spend their money. There is so much choice these days with the world at their fingertips buying on the internet. So what are your growth strategies to compete? Before you decide whether to adapt your products or services, take a look at what you have. How well are you meeting the needs of existing customers? Are your retail operations hindering your growth?
Once you have chosen your product or service range, one that is based on your understanding of your customer segments, you need to get to know and understand what makes your product or service unique – what are the benefits of your product or service versus your competitors. Why should a customer buy your product or service versus that of your competition?
The key to developing new products and services is conducting very thorough market research. Ensure you have a good quality database and the right tools at your disposal to ensure you are gathering all the facts and opinions about what your customers or potential customer segments want, need or desire. Having excellent retail operations in place is fundamental exploring this area further.
Find your niche in the market. So once you have established your product or service range you will need to establish your niche market for that product or service range. Finding your niche in the market means researching the part of the market that interests you and your potential customers. Understanding what is your advantage over other businesses in your sector, in other words why should customers choose you? What makes you special? What makes you memorable?
Making sure your stock is correct for your target market helps you deliver world-class customer service – your customers are ultimately visiting your shop or online shop to buy your stock or to experience your service. You need to ensure that everything is perfect, with the right stock, in the right place, at the right price for your customer segments that your business targets. Stock, whether to sell or to provide a service is extremely valuable and should be viewed and treated as if it were cash.