This Smart Marketing Move goes to Famous Footwear.
In my search for new sneakers, I noticed that Famous Footwear was having an end of year sale. I went in and found shoes that I needed for running. This was right after the holiday rush and before New Year’s, so they were entering a slower time of year for sales.
After I paid for everything, the sales associate handed me a something that said “Famous 5 Bucks” with my receipt. As he was handing it to me, he explained that I can get another pair of shoes but for $5 off after the New Year. I was pretty excited because I just got a fantastic deal on this pair of shoes, now I have a chance to save more at a later date.
What did they do here? They gave me a reason to come back in, with an expiration date. They are building trust and loyalty, plus it just made me happier. Honestly, I don’t think I ever bought from Famous Footwear before this purchase; so I had no idea about these “Famous Bucks”.
Here’s what part of the back says: “Customers receive $5 in Famous Bucks for every $50 spent.” Then there are directions on how to use them, but the back reveals that this is an ongoing campaign for them. I thought it was just because we were entering a shopping slump in the retail industry, but it wasn’t. They continue this throughout the year, bringing people back into the store and helping them save a few bucks.
Lesson Learned: Once you complete a transaction – online or brick and mortar store, what are you doing to keep the customers you already have? It costs 50% more to get new customers than to keep one. Learn from what others are doing like Famous Footwear, especially during the holiday season since everyone is hustling around in stores. Offer a discount on their next order, give them a referral card so that they can refer their friends and they both get a gift or discount. Just don’t forget an expiration date! Think creatively and you’ll gain something money can’t buy, loyalty.
“Outthink the Competition Rather Than Outspend Them”
Author: Leslie Wolff, CEO of Smart Marketing Group, speaks from experience as an entrepreneur, sales and marketing executive plus advisor and coach. Les has “walked the walk and talked the talk.” The knowledge that he imparts with passion has been learned in the toughest of schools, “Real Life!”, in the trenches, on top of the mountain and everywhere in between.