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December 25, 2003
A sound sales strategy
Tomorrow, the day after Christmas, is D-Day for many businesses: It's expected to be the biggest shopping day of the year, eclipsing the day after Thanksgiving as most important.
A New York Times story about this day of marketing days offers more evidence that focusing on existing, satisfied customers makes for a profitable strategy:
* The Gap, in the midst of a company turnaround, directed its most intense marketing to old customers with "bounce-back" coupons -- good for a rebate only on a second visit -- as opposed to storewide percent-off sales. Retailers say storewide sales foster one-time-only shoppers instead of repeat customers.
* AnnTaylor, Pacific Sunwear, Urban Outfitters and Men's Wearhouse stores also "focused their efforts on their existing customers successfully and have likely gained wallet share,'' a UBS analyst wrote in a report issued this week.
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