Lesson learned..

The NY Times today ran an article on the new vision at WalMart, and I think there are lessons the City needs to learn from it.

I know, what does retail have to do with Roanoke? Well, your one of a thousand cities.. maybe closer to 100,000. You need to sell yourself, and more importantly - remember the current "customer base."

WalMart has arrived at a conclusion which I find very important. (and yes, I am tired so this might just be the lowest quality-written post yet.)

"The company is now focusing more on consumers who already shop at WalMart, rather than on people who executives would like to shop at its stores."

Imagine, taking care of those who are already customers. Imagine if the city worked like that - creating a better life for those who lived here, not those they want to live here.

Just a concept anyway. Anyway, I'm off to troll the City Council's agenda - see if it's worth watching come Monday night.

Your weekend WOW is on the way.

1 comment:

Philosofik said...

At my core, I'm essentially a professional retailer, despite working for a non-profit. There are two schools of thought on this, but each arrives at the same conclusion.

The first says that unless you actively promote yourself and offer customers a unique and pleasurable product (whether that's city life or a book on steam engines), you will not be able to obtain or keep your market share. In ensuring the highest quality, you ensure a loyalty among your extant customer base.

The second says that as important as obtaining new market share is, it means nothing if you can't hold on to the customers you already have. If you invest in a quality product or service, your customers will remain loyal and new customers will eventually figure it out.

Either way, there is acknowledgement that the most important customer is the one who already buys your product.

Our focus should be on return shoppers. Not only do they spend more money, but if they're happy, they'll recommend your product to others on their own, and there is NO advertising or marketing which has that kind of power.

So, Roanoke, I'm a 24-year old urban professional with a girlfriend living 200 miles away. Why should I stay?