In Friday’s WSJ, it was written that Macy’s had recently disclosed that: “9% of its customers account for 46% of the store’s sales.” That seems incredible to us, but there it is. Just think of it, someone as large as Macy’s with about 870 stores sees its business concentrated that much. What does this mean to you: Take care of your top customers who use your services frequently.
You know who they are and what categories they represent. Brainstorm on how you’re going to show them how much they matter to you. Provide them that extra service. You may not need a full-blown loyalty program, but you sure do need to isolate these customers and make sure that everyone in your operation is giving what we call “sterling service.”
The author, Bob Ottaway, is President and Founder of Ottaway Digital. Established in 1999, it has been a pioneer in SEO, digital advertising & social media since 2006.