Connect with us

Business

How To Build Brand Loyalty With These Money-Saving Tips

Even now that the Great Recession is officially over, a thing of the regrettable past, consumers know the value of saving money whenever and wherever possible. It was just less than a decade ago when the bottom fell out of the market and everyone, across the board, panicked because of very real fears that a Depression would follow.

One of the ways in which a great number of retailers were able to stay in the black was to show their customers how to save money while using their products. This is a lesson graduates of a masters in business administration program should learn, and learn well. Use these money saving tips as they refer to your company and see how quickly you begin to develop brand loyalty.

How Unnecessary Use Costs Money

Some products don’t gain efficiency by using more of them or using them more frequently. A reputable business would explain this and offer tips on how to use their products only as necessary to save money. For example, a concentrated disinfectant may need to be mixed one part product to ten parts water. Using any more than that just wastes product, thereby wasting money in the process.

Teach Customers to Buy Only What They Need

As a student of an online MBA degree program from an esteemed educational institution such as Washington State University you learned that frivolous spending can quickly put a company out of business. The same principle holds true for your customers. Don’t oversell just to hike up the ticket, but rather show your customers how to buy and use only what they need. This will save them money and you will develop a B2C relationship that will last a lifetime.

Side-by-Side Product Comparison

You may have several products that a customer can use, but which is best for their needs and which is most cost effective for them? By giving them a side by side comparison as to features and benefits vs. cost, your customers will appreciate having the opportunity to choose which is best suited to their needs and budget. So many merchants start with high ticket choices and only show more affordable products if they feel they are losing the sale. You earned your masters in business administration online, now put it to use with the principles of best practice you learned!

When to Look for Sales

You can also inform your customers when they should be looking for sales well in advance. For example, if you always run end of the season sales, or pre-season introductory sales, make it known so that they have ample time to set money aside to shop when the time comes. From holiday sales to Black Friday sales to Earth Day sales, post regularly scheduled sales somewhere visible and your customers will look forward to shopping with you on those days. One of the most frustrating things for consumers is to happen upon a once-in-a-lifetime deal and not have the cash on hand to make a purchase. Your customers will be ready if you’ve ‘warned’ them by promoting events well in advance when you are likely to have the best prices on their favorite products.

Explain the Benefits of Buying in Bulk

Then, there are times when buying in bulk is the best option. If you sell merchandise that is extremely cost effective when purchased in bulk, give your customers reasons to buy a larger-than-normal quantity. On the flip side, if there is no advantage to buying in bulk, then explain that as well. For example, someone with three big Rottweilers would welcome a deal on grain free organic dog food but the owner of three Toy Poodles wouldn’t appreciate the mice getting into their dog food before the first bag was half empty. (Most dog owners would know better, but you get the point! Not all customers benefit from buying in bulk.)

The takeaway here is that your customers want to save money just as you do. By showing your customers how to save money they will appreciate the fact that you care more about them than racking up a high sale. Looking to build brand loyalty? Show your customers you care and they are yours for life.

Continue Reading

Recent Posts

SEO3 days ago

The Importance of Local SEO for Small Businesses

There are many different types of businesses and all of them will require online marketing however, with a small business,...

General4 days ago

Understanding The Unsung Heroes: Cool Rooms And The Importance Of Regular Repairs

Everybody loves a breath of fresh air when entering a superstore! But have you ever wondered who’s working backstage to...

Home Improvement4 months ago

How To Add More Value To Your Home

If you have some spare cash in the bank, it is likely you would like to spend it on your...

Lifestyle4 months ago

What is a Deep Plane Facelift

Cosmetic surgery is a choice that needs a lot of research and when it comes to thinking about a facelift...

Entrepreneur4 months ago

Unveiling the Demand for Digital Marketing Courses: A Comprehensive Analysis

In recent years, the realm of marketing has undergone a seismic shift propelled by the digital revolution. As businesses increasingly...

Home Improvement4 months ago

What Does an Effective Wardrobe Spring Clean Entail?

Spring is upon us which means one thing and one thing only. It is time for the annual purge of...

Business6 months ago

Your Basic Guide To Creating A Unique Investment Blog

Starting your own blog is great and once you get the ball rolling, it can be a good passive income...

Business6 months ago

3 Low-Risk Ways To Get Your New Business Started

Once you’ve got an initial business idea and believe that it will be a success, there are some basic things...

Lifestyle6 months ago

Conquering the Co-free Zone: Tips for Thriving as a Remote Worker

Adjusting to an office environment can come with its downfalls in the sense that it might be a shock to...

General7 months ago

3 Ways To Take Control Of Your Finances Starting Now

If your finances have taken over and are bringing stress to your life, we understand just how overwhelming it can...

Travel9 months ago

Best Places To Visit In The North Of England

If you live in England, you will know there are many different places to visit for the weekend. There are...

General9 months ago

Green Home Improvement Ideas

In a world where environmental concerns are growing, the concept of “green” has gone beyond a trendy catchphrase and is...

Lifestyle9 months ago

How to Host an Unforgettable House-Warming!

The time has finally come. You have moved into your dream pad, and are officially adulting in your very own...

Autos9 months ago

A Guide to Parking Lot Striping

The journey to a well-striped parking lot begins with the right paint. In this brief guide, we’ll unravel the mystery...

Business12 months ago

Business Tips For Protecting Your Finances During A Recession

In 2023, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Categories

Archives

Trending