Generating buzz key to success
By Tanya K. Merritte -- Kids Today, 8/1/2007 12:00:00 AM
"We have to keep them interested."
That was the message author and retail guru Rick Segel relayed as he gave advice on ways to build and retain a customer base during the Kids Today conference in June.
Segel, who spent 25 years helping run a women's clothing store that was started by his parents, said the retail business has changed since he got his start. "Customers are more difficult and demanding than ever," he said.
To that end, Segel said it's crucial for retailers to carve out their own niche and do something different than simply offer good service, selection and price. "Nearly everyone offers service, selection and price," he said. "You need to differentiate your store. How do you market yourself?"
He said that good service doesn't necessarily guarantee customer loyalty, and for customers to spread information through word of mouth, they have to have something interesting to talk about. All things being equal, "different beats service and quality," he said. "It's important to set yourself apart."
Segel said it's often not about the service or product, but the way the service or product is presented and he used the Pike Place Fish Market in Seattle as an example. On the surface, Pike Place is a basic fish market, but the store generated buzz and a following when workers began throwing the fish around and interacting with customers.
Segel explained there are several ways companies can set themselves apart, such as:
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Be first and create a category. Segel said one example of this was his own store, which led the way in marketing dresses to mothers of brides and grooms, a category that hadn't received much attention up to that point.
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Own an attribute, with one example being Godiva, which is known for its luxe chocolate.
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Own a phrase, such as Halo Innovations' wearable blanket.
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Get endorsements from your best-known customer and use them in marketing materials.
Retailers also need to get in the Internet game if they want to succeed in today's marketplace, Segel stressed. He suggested keeping the Web site design interesting, but simple and clear without a lot of clutter. Segel's content ideas included short news stories relevant to the store or community, quotes, specially priced items and maybe a joke or cartoon. He also urged retailers to add a blog. "(It's) one of the greatest ways to drive traffic to your site," he said, adding that blogging cost nothing, doesn't take up a lot of time and positions the retailer as an expert.
Segel's last piece of advice encouraged store owners to recognize the importance of signs, calling them the most misunderstood tool in retailing today. He said that signs, billboards and the like are a great opportunity to make an emotional connection with a would-be customer, particularly a sign that uses humor as a selling point.
"We do business with people we have fun with."
Rick Segel urged retailers to be more innovative.
We would love your feedback!
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