Don't Overpromise — Instead, Overdeliver
Your brand is your business and your business is your brand. If you overpromise and fail to deliver, your profit will be directly impacted by a diminishing client base. Word of mouth is one of the most powerful marketing tools available to you. If a customer has a bad experience in which your goods or services have not held true to your promise, that customer's words, whether spoken aloud or posted on social media, will stand to make a significant dent in your reputation.
Rewards Programs Will Reward You
Rewards programs are great. Getting something for free is always a win for customers. You could offer rewards based on how much money is spent, for example. Maybe offer $10 in free product for every $100 purchase. You could also offer rewards for referrals. A nail technician could offer a free fill-in for every referred customer who gets a full set of nails. Car dealers can offer a monetary reward to their clientele, perhaps $200 when a referral results in a finalized sale. The offer of a reward coupled with overdelivering will create an upward spiral in your profits at the end of each quarter.
Stay in Touch
Consistently contact customers to show them that you value their business. Depending on the type of store you own, this might be a monthly coupon or notice of a special you're running. When they have a coupon in hand, customers are more likely to return. Monthly mailers are great, but a newsletter update published on your website will cost much less. Decreasing overhead is always a plus. You can ask your clientele for their email addresses by letting them know they will receive monthly special offers. Coupons made available for the customer to print will reduce your overhead as well.
Be sure to track the return on your marketing dollars each quarter and reevaluate annually. It is of utmost importance that you see a return on a campaign. If the return is not significant enough after a year, it is time to brainstorm with your crew to find out where your marketing money will see the biggest return and not be wasted. The best marketing campaign is a timeless one: communication. If you keep dialogue alive with your customers, you will gain priceless insights into what your patrons want, and that will keep them coming back to you.