Attitudes from the Publisher
In this rough economic tide, with so much in retail dependent on the whims of the stock market, or consumer confidence indexes, the sage businessperson focuses marketing and merchandising efforts on those elements he/she can control. And one of the most valuable, existing, long-term-profit-yielding retail strategies is to bolster customer retention rates.
Customer retention, especially in the consumer electronics market, is intrinsically linked with retail growth, and the shortest route to customer retention is, of course, through superior customer service. Don't forget: Investing in your customer service capabilities is one of the more "mutually beneficial" self-improvement assignments your business can commit to. It's a fairly simple calculation: Customer + Good Service = Positive Word of Mouth. And the significance of the word-of-mouth factor can't be overestimated.
After all, the successful, prosperous retail business is built on reputation — a reputation for delivering products and services in a responsible, helpful way. How do you do that? The first step is knowing who your customer is, and the precise requirements for each piece of CE equipment they purchase. Tailoring the sales pitch and other marketing efforts to the individual gets the customer a better-suited product, and the retailer a point on the consumer's scorecard (not to mention a lower return rate).