And the Survey Says ...
In America, there is always plenty of competition, and maximizing your market share is the name of the game. That is easier said than done. To be effective in the retail business, you are going to have to stand apart from the other retailers who want to capture a piece of the same market, and it all starts with effective branding and marketing.
You can’t be everything to everyone, but you’d better make sure you’re something to the group that matters. That means you are going to have to precisely define your customer tar- get, understand their preferences, then excel in the areas that matter most. There are a variety of sources of published data and research that can help you determine the characteristics and values of a specific demographic. I happen to think that one of the best ways to get to know your customers is to ask them directly by performing a survey, something I rarely see in the food-retailing environment.
Surveys allow you to understand, in your customers’ opinion, how you measure up in the categories that matter most. You may wish to take this up on your own, but you might want to seek the help of a firm that specializes in performing surveys. Questions can be carefully crafted by a skilled survey writer to help you understand from the customers’ perspective what they value in their shopping experience, and how well your store scores on these critical factors. The data you will develop from this exercise may be the most valuable piece of information you can have to help you better position your store for greater success.
If you do decide to perform a survey, you should also seriously think about how you can elicit an effective response from your customers. Remember, this information does have great value, and you should be prepared to invest some money to ensure the quantity and quality of the responses. You may even want to consider paying your customers for their responses in the form of a store discount or free giveaway to give them the extra added incentive to provide their feedback.
Armed with quality survey data, you will be better equipped for the challenge of making your store the most admired among the target customer group, and will further distance your store from any competition.
David Spencer
Publisher, Gourmet Business
President, HousewaresDirect, Inc.
dspencer@gourmetbusiness.com