KPIs – Share of repeaters

Your share of locals is quite comparable to your share of repeaters as a matter of fact – at least somewhat…

There are factors like the overall brand desirability and coolness factor making customers come back, there especially in fashion is the need to go with it and to constantly change your look in these wonderful times, where one’s selfexpression becomes more and more a true reason to be and thus underlies a strict regime of control, modernity and thus constant adaption (greetings from instagram)

In many ways people tend to stick to brands once they are infected with the universe of it – thus the definition of target groups until the agegroup to 49 – beyond that point the cost for the brand to make a person change its habits becomes ridicoulously high and only few go down that road. In other words if you used ELMEX for 25 years you will not so easily change to COLGATE and vice versa.

Exceptions are of course to be found in the cosmetic industry – where seduction and the promise of eternal youth and beauty are the game changers.

All other industries will have complex tasks to make people try out a new brand – changes in the preference are only made when something really bad happens – your favourite designer changes the brand or passes away or has some racism or #meetoo issues, the company is bought by some moron corporation, legal issues with products, bad quality, etc. – you get the idea.

The big exception there might be the watch and jewellery  industry, where in that case you are quite near to cosmetics again, as with jewellery and watches you express your lifestyle and those items usually are not deteriorating so quickly. On the other hand it is quite an investment to buy each three months a new watch (if it is not a fashion piece) or a piece of jewellry.

So this brings us into the lovely situation, where you can be sure that if you do not mess up big time on the service level of your store and if the brand is keeping its promises you almost cannot not create repeaters. – They stick like glue.

Yet you can stear this process and you can above all accelerate it and there again it’s all about your creativity, your capabilities of management and how strong your are in sending out the right messages at the right time inn the right tone.

Boutique Visual Identity – stay interesting – offer the people passing by in front of your store new visual inputs often, so that they find themselves with the situation to missout on something, if they are not regularely coming back.

Stock Management – Ensure an efficient watches selection appealing to your existing clientele and have everythign that is new, limited, discounted, on sale, end of line etc. ready – do not forget to communicate openly and proactively on it  – having alone is not sufficient

Team Management:

  • Target follow up and communication:
    Monthly shares and next months target announced in monthly meetings
  • One to One:
    Review individual CRM-actions
    Individual action plans building and target fixinng
  • Training:
    on phoning
    on crosselling opportunities and upselling possibilities
    on storytelling
    on novelties, limited editions, products in sales (or soon to be in sales) etc.
  • Coaching:
    on phoning
  • Roleplays:
    on phoning

CRM:

  • Capture customer information systematically – especially from prospects
  • Send a personal thank you to any visitor after his visit in using the sustomer’s most preferred communication channel
  • Call a customer after one month or so and check on his satisfaction with your product
  • according on the product – send your customer an anniversary card after one year of the purchase
  • Send handwritten birthday cards (and do not forget his spouse and children, if appliccable)
  • Send a warranty expiration card, to make him come back and check on the functionality of his product (if finance departement allows you to do so)
  • Send a reminder for proposed product services to him
  • Contact your customers and prospects for new launches
  • Provide your visitors with your business card after the visit
  • Reactivate sleepers in your database (after two years without interaction normally the data is useless)
  • Use the local customer service database, if you have one
  • Make your clients your advocats and use their networks
  • Develop your network locally – partnership with clubs and other local luxury actors
  • Brainstorm with your team on how to increase your impact

Benchmark

  • identify best practices of your competition and other industries (hospitality, fashion, watch, car, …)

 

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