Know-How Exchange : Strategy

I believe a good question for revolve around social media and networking. As more traditional media reduces in response rates, there is a movement towards for social type connections.

I would ask if anyone is using MySpace, Facebook and how it is working out for the.

I would also ask what types of customer communications interactions each person is using. Are they using blogs and do they work?

Are they using user-generated media? That might include uploading their favorite outfit for others to see.

I would also ask about email marketing and what their experiences have been.

Finally, I would ask about their websites. Have they added any innovations that are working for them?

Let me view this from your perspective. If I am right, the reason your store and others are coming together on a forum like this is to share and learn from each others' experiences. Perhaps you are also propelled into action because you share a common fear of larger organized chains.
1. One of the key concerns would be how do you retain loyalty of your current customers? What are the special initiatives that have been tried? What has worked and what has not? What were the circumstances? Personalization & leveraging relationships could be a strong plus for independent stores.

2. What are the practices that seem to be working to get newer customers, especially those who are likely to flock to the larger retail chains?

3. What can be learned from the larger retail chains even if one may not be able to match the prices always. Areas to consider could include store layout, express check outs, relaxing ambience-type of music, lighting and aroma, visual merchandizing, informed but not pushy staff.

4. How are you communicating with customers. How easily is information pertaining to your store available including the digital media- local directories, shopping guides, online listings, website etc.

5. What are the initiatives/promotional offers through which store traffic can be increased especially in the relatively dull season.

The above is illustrative and not exhaustive. You may have to broaden or sharpen the focus depending on your unique industry, geography and prevailing practices.

Terrific responses everyone. I especially enjoyed the idea about swapping promotions since there is always so much work to be done in terms of writing/designing/planning. Why not share our hard work?

Thanks all!!

Very timely question. Next week I have a meeting with ten CMO's. Here are my thoughts on the topic which coincide nicely with Ms. Verma's comments.

My agenda is focusing on three key area's: 1. Growing customer loyality, 2. measuring campaign success, and 3. improving the customer experience through personalized communication throughout the multi channel. (web, email, billing statements. in store receipts, kiosks, etc.)

I believe we can continue to build customer loyalty by limproving our customer centric communciations.

I speak in length about this topic on my blog:
www.transpromo-live.com

Good luck.