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ASC Winter Newsletter – Knowing Your Customer
What’s New for You:
Hit the ground running in 2011. One of the best sources for increased sales this year is through your existing customer base. Clients like Jeff Garden of Tappers Fine Diamonds and Jewelry have seen tremendous results from this repetitive business through using incentive programs to establish customer loyalty. Take the steps to capitalize on your client base with ASC’s Platinum Rewards Module.
The ASC Platinum Rewards Module helps to develop smart loyalty initiatives that identify and retain your best customers. This module uses a rewards incentive program that allows you to market to your most loyal customers in a personalized manner. Companies like Tappers have used this module successfully to target clients with incentives specifically based around their rewards points balance and previous purchase database. In a recent interview, Garden noted that he has seen a remarkable return by creating marketing platforms that target clients nearing the established rewards threshold. “When our clients are reaching their rewards balance, we will offer special incentives to use it early or partner with one of our vendors to offer exclusive deals on rewards purchases. We have found these techniques to be extremely successful.”
In using a rewards program, you are guaranteeing a return from your customers. The ASC Platinum Rewards Module provides flexibility for you to determine how and what you should reward your customers with. You may choose to give them a percentage back on every purchase, or you can offer bonus rewards to customers when they purchase from a specific vendor. By giving customers a percentage back on every purchase, you have the ability to increase customer frequency and motivate interest in your products.
The module has proven to be successful with many of ASC’s clients who continue to see results through targeted marketing campaigns and shopping frequency. In the 7 years Tappers has been using ASC’s Platinum Rewards Module, Garden noted that he saw growth to their rewards program of almost fifteen thousand members with rewards benefits exceeding two million dollars. By incorporating a rewards program into your system you are inevitably creating a marketing platform that collects data from your customers and markets to them in relevant and personal way.
The Platinum Rewards Module is the perfect solution for companies looking to attract new customers, capture data from existing customers and establish long-term loyalty through personalized, relevant communications. This module starts out at $2,495.00. For more information on how to make an impact in the new year, call Vice President, Barry Kraft at (617) 426 – 2918 for more information.
What the Experts are Saying:
“Good Promoting, Yield’s Good Results in the New Year.”
Although many consumers have spent the past few years watching their wallets, 2011 is being forecasted as a year of spending. For retailers, this means an opportunity to capitalize on the new shopping buzz. Many experts are saying the best way to make the most of this extra spending is to know your consumers and promote to them often.
According to an article published by the National Retail Federation, retailers should stress the “bigger picture” in 2011 and the long-term value that come from making investments in purchases. “This is the time to stop fixating on price, and start focusing on the value of items.” Unlike 2010, price is not the only factor shoppers will consider when making decisions on purchases. Rather, many consumers are looking to invest and spend on workmanship and quality that comes with a slightly more expensive price.
Many other industry experts are supporting this claim as well. According to Buxbaum President, Stevan Buxbaum, today’s consumers have an increasing appreciation for items that offer enduring value, unlike “throwaway” items or nearly instantly obsolete electronics. “People are using their hard-earned money to buy fewer items,” he said. “The dramatic increase in the price of gold has not been lost on them. So there is more respect today for the intrinsic value of jewelry, and that is helpful for jewelers.”
What does this mean to Jewelry retailers? Buxbaum suggests retailers promote the quality of their pieces, as well as their general knowledge of the industry, experience and customer service. Since purchasing jewelry can often be an emotional decision, connecting with your consumers on a personal level can enhance the retention of sales. Creating emotionally based marketing platforms, and making them have an impact, is inevitably the key to success this season and for future endeavors. As Buxbaum noted, “The reality is that the promotional landscape will be extremely robust. If you do not join the fray, you will be left behind.”
Many of ASC’s clients capitalize on their customer knowledge base by using the eMarket emailing marketing solution module. In having a system directly connected to your customer’s interests, you are better able to capitalize on their needs at the time. For more information on this module and others like it, please contact a member of the ASC sales department at (617) 426 – 2918.
Tip of the Month:
Capitalize on the “Just for Me” Shopper
In 2011, make sure you promote to the “just for me shopper.” After the holiday season and into the new year, the average person is planning to spend about $108 on “just for me” purchases. This presents a great opportunity for storeowners to host a “Guilt Free Evening.”
Host an evening in your store for your customers and their friends to come in and buy specially marked down items and other promotional pieces. Once they are in your store, you can use ASC’s Wish List module to create a personalized list of future purchases for each customer. This allows you to identify the products each client is most inclined to buy in the future and gives you an opportunity to use this information to personalize promotions and e-marketing endeavors.
ASC Winter Newsletter – Buying With Confidence
What’s New for You:
2011 is shaping up to be a great year for shoppers and storeowners alike. Based on holiday spending in 2010, experts are forecasting that sales are will continue to grow. For many of our clients, this means added security and protection in the new year from credit card fraud and identity theft. What are you doing in 2011 to protect the security of your customer’s information?
With the new standards for PCI compliancy, Jewelers must stay aware of security measures and the heightened risk for exposure. With ASC’s PA-DSS Payment Processing Solution, customers are compliant with industry standards, while having the added value of having an integrated solution that keeps your company and clients protected. Vice President, Barry Kraft notes that this solution, allows clients to protect their company’s assets by not exposing pertinent credit card information and rather referencing every transaction. “Every retailer must be PCI compliant, and our new interface works cohesively as an integrated process for both storeowners and consumers to not have to store their information in house.”
The interface is crucial to ensuring the security of payment data and the infrastructure that processes that data. For Jewelers, this means working cohesively with your processor to make transactions simplified and more limited client information used. In using the PA-DSS Payment Processing Solution, in conjunction with ASC’s POS module, the interface offers an integrated solution that gives you the benefits of security, without storing any of your client’s sensitive credit card information in your database. In storing a reference number in your database, in lieu of a credit card number, you are able to easily reconcile transactions with your processors.
If your company has not pursued the means of protecting your information, you need to do so. By not complying with PCI standards, you are opening your company to unnecessary exposure and added risk. The security benefits that come from using ASC’s integrated PA-DSS Payment Processing Solution, allow for secure network transactions to be made to preserve your client confidentiality and secure the integrity of your company’s reputation.
Allow customers to buy with the assurance that they will always be secure in your store. For more information on ASC’s PA-DSS Payment Processing Solution, and other ASC, modules please call Barry at (617) 426 – 2918.
What the Experts Are Saying:
Spending is on the Rise in the New Year
With holiday buying showing a rise this season, retailers are anticipating similar results for the new year. For businesses, this means that retailers need to create dynamic, value-based promotions that are sure capitalize on this year’s “splurge consumer.”
According to Chris Low, chief economist at FTN Financial in New York, the holiday shopping trends of this season are a solid forecast of things to come in 2011. In a recent article in Bloomberg, Low elaborated saying that “there’s no question this will be the strongest quarter for consumer spending since before the recession. The economy has pretty good momentum going into the new year.”
This is in large part to consumers who are ready to spend again after years of tightening their belts. For storeowners, having such a captive audience can mean a tremendous opportunity for attracting customers with exclusive in-store sales and promotions. By creating prominent display spaces in your store and taking advantage of the benefits of e-marketing, you will be able to drive in a customer that didn’t exist in years past.
One of the major consumers to capitalize on in 2011 is the “splurge shopper.” Recently, the National Retail Federation noted that the number of people who will take advantage of holiday sales to make non-gift purchases for themselves is up eight percent this year (57 percent vs. 52.9 percent in 2009), with the average person planning to spend about $108 on these “just for me” purchases. With this in mind, it is essential to capitalize early on customers by creating sales and promotional platforms that target the “impulse consumer” of 2011.
Many of ASC’s clients have taken advantage of valuable modules like the Customer Wish List and the Platinum Rewards Module to gain insight into their customer’s spending habits and potential purchases. Solutions like the Customer Wish List, are valuable tools for maintaining contact with your clients and capturing information that might otherwise be passed over. Many of ASC’s modules allow you to understand your customer’s spending and give you the means of giving them added incentives to return to your store for additional spending. Using your database effectively and sending out special promotions to your valued customers early have a far-reaching impact.
For more information about ASC’s modules, and ways you can maximize your productivity this holiday season, please contact the ASC sales department.
Did You Know?
- Of the 45 companies listed in the Eight-Figure Independents National Jeweler review, ASC provides modules and system services to 22 companies.*
- ASC’s modules are compatible with iPads.
- According to the NRF’s 2010 holiday survey, almost one in four women want jewelry this year. (That’s up 13 percent!)
*The review is reflective of U.S. jewelers doing $10 million or more in annual sales in a single store.
ASC Fall Newsletter
What’s New for You:
Successful jewelry storeowners know that a customer database is their most essential marketing tool. It creates a means to stay in touch with customers as it aids in sending incentives and offers to visit their stores for events. More importantly, a customer database is the most direct means of building customer retention and loyalty. A “clean” database, which grows weekly, is a fundamental winner.
ASC recently rolled out its new Duplicate Customer Logic Module. This module was developed to alleviate the ongoing issue of constantly adding duplicate customers to the database. Barry Kraft said the inspiration for this new module came from “a few clients who approached us about this problem in hopes that we could develop a system to alert salespeople when they are creating a duplicate customer record. ”
In the new module, when a salesperson chooses to “create a new customer”, the system prompts for additional information, such as a street address, phone number, or city and state. As the information is entered, the system will check for a match and prohibit the creation of a pre-existing record. If no match is found, the system will carry forward with any previously keyed information to simplify completing the remainder of the customer information. If a match to an existing customer is found, then the system allows for selection and the duplicate entry is avoided.
Say goodbye to the hassles of continually cleaning your database. Once you’ve cleaned your existing database and implemented the new Duplicate Customer Module, your database can remain clean. This new module is a sound investment with great long-term value. The introductory price for this new module is $395. Please call Barry (Ext 113) or Kristin (Ext 112) at (617) 426–2918 for more information.
What the Experts are Saying:
All retailers know that you don’t get the sale you don’t ask for. In a recent article by Wendy Lowe of Campaigner, Lowe asserts that luring clients in through e-mail marketing is always the most long-term sale. This is because e-mail marketing can be done 365 days a year and has endless possibilities. As Lowe points out, “Jewelry is generally a purchase that is considered over a period of time before being bought, so staying in front of your prospects through e-mail can prove to be a very wise marketing decision.”
In her article, Lowe emphasizes that getting the e-mail address from your customers is the most important part of the transaction. “Always ask for your customer’s e-mail address at the point of sale. It is the best time to entice him/her with future offers and promotions that can only come to them as a member of your registry.” This point is true and reflects back to the idea that your staff has to be as comfortable asking for a client’s information as they are asking for the sale.
A helpful tip for storeowners is to role-play with their staff. Role-playing helps to develop smart ways to approach your customers and entice them with benefits that can only come from being part of your e-mail group. Once your salespeople feel comfortable with the “ask,” and, see the happy customers coming in with a special discount or private sale e-mail coupon, the staff will see for themselves the value of the benefit they are offering.
Another way to inconspicuously ask for your customer’s email is during the POS when you are adding their contact information into your database. ASC’s new POS module has the ability to automatically prompt the salesperson to capture any missing email or contact information for a client during the checkout. This POS module, as well as other information collecting modules, has extensive benefits that help better position your salespeople to capture any and all information about your clientele.
For clients that are hesitant to provide you with their information, you can promote that your company is “Going Green” and any informational brochures and special offers will only be sent through e-mail. By utilizing your customer’s most direct form of communication effectively, you have the potential to create a wealth of new business.
For more information about ASC’s POS module, which automatically prompts the salesperson to ask for missing customer contact information, and to learn more about eMarket, a web based platform that can help you manage your email content and lists, please contact the ASC sales department.
Tip of the Month:
Spread the Word
We’ve seen how correct customer information and e-mail marketing can expand your business platform. We know the best source of leads is through your existing customer’s recommendations to their friends and family members. To gather more “look-alike” customers, consider hosting a “Friends and Family” style event. Let your customers know that an upcoming event is just for them and their friends and family members. When they come to the store, make sure everyone registers upon arrival. Have refreshments and offer discounts for the “one night only sale” to the group. The result: a great night of sales and a plethora of new customers in your database that best mimic your existing customers.