Stacking Up Against the Competition: Tips and Tricks
The consumer packaged goods industry is competitive – there is no way around this universal truth. Whether you are a multi-national chain or a small mom-and-pop shop, competition is likely a major factor in many of your strategies, from marketing to engagement. So, to help you deal with that competition, this week we are getting back to basics and giving you some tips and tricks to deal with that competition.
Price is important, but it isn’t everything. Customers choose where they shop for a reason, and that reason isn’t always price. There are many consumers who choose their CPG retailer for the total grocery shopping experience. This is a good thing, since often price doesn’t leave much room for movement. However, when you consider price, customers are more willing to part with their hard-earned cash when you provide something of value – in this case, a great shopping experience.
A major point of differential when it comes to stacking up against the competition is great customer service. When customers have to wait in line, search the store for help, or can’t find items they want, this negatively impacts their customer service experience. However, when they leave the store satisfied, they remember, and won’t hesitate to return.
Atmosphere is everything. If your store is messy, disorganized, or just plain boring, customers notice – shopping, for many, is a chore, so the more enjoyable, the better. When your displays are full, aisles well-lit and clutter-free, and the store feels clean, customers, again, will remember.
Provide incentives. This may come in the form of loyalty cards/point, discounts or promos – anything that draws the customer in and motivates them to purchase is a great thing – and can really help you combat the competition.
Get social. Social media, undeniably, has come to play a huge role in consumer purchasing behaviour, so getting online, engaging with customers, is a good idea. A great place to start is with a review section, either on your website or social networking site, to allow customers to leave reviews, thereby influencing others – and you don’t have to spend a dime on the advertising. It also provides a great opportunity for market research – finding out what works, and what doesn’t, and taking that information and using it to make improvements.
Competition is fierce in the CPG industry, but there are several different ways to beat the competition – no matter the size of your store.
When it comes to upping customer satisfaction, Storesupport can help. Call us today to find out how: 905.847.6513.
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