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Home » Archives » October 2005 » Commentary by Jack Wolcott

Commentary by Jack Wolcott

October 14, 2005

With the annual influx of students, this is a good time to gain a fresh perspective on how to earn new customers and increase their loyalty to your business. They exemplify all that is exciting and challenging in increasing your customer base, with a few unique twists added. By exploring the opportunities that students present, business owners and community leaders can gain fresh insights into how best to serve their core patrons and gain more.

Most students are from out of town and will be looking for things that they either are accustomed to finding or else can't find at home. They all have friends, they will make new ones, and many have spouses; these are all potential customers if you make a positive impression.

An interesting challenge that the Corvallis Independent Business Alliance has accepted is to inform people of the many benefits to them and their community of shopping locally. For many students moving to a new town, the big box stores may actually be considered the same as their local store. They look the same, the merchandise and layout are similar, and they are used to shopping there. We need to encourage them to explore what our community has to offer and to ensure that their first experience with us is overwhelmingly positive! We want them to return to campus and tell their friends about the great time they had shopping at our locally owned, independently operated businesses.

CIBA, the Downtown Corvallis Association and the Chamber of Commerce have programs to expose students to local businesses. The DCA just completed a very successful Slice of Downtown Corvallis that drew more than 1,000 students to participating businesses. The chamber will be holding its annual Beaver community fair, Where It's @, Friday on campus with more than 100 business vendors and 8,000 students.

These events are great for introducing prospective customers to businesses, but because they are so condensed, a longer and more sustained program is also needed. This is where the individual businesses must get directly involved. CIBA publishes an annual directory each fall of its members and works to educate the community about why supporting locally owned businesses is in everyone's best interest. But if potential customers do not receive noticeably better customer service than they are used to, then they may not return or tell their friends about your business.

There has been a lot of discussion about "retail leakage," or shopping dollars leaving Corvallis. I believe a significant portion of it is students returning home for a familiar shopping experience. If we can make our community comfortable and inviting to them, then we will keep more money here, where it will multiply and create greater opportunities for all of us.

We can create experiences that engage customers in an inherently personal way and encourage positive word-of-mouth advertising and repeat visits. If we compete solely on the basis of price, then we offer little differentiation from the national retailers. CIBA believes that one of the best advantages a locally owned businesses can offer is the ability to personalize its service in a way that customers feel is just for them.

If we can make a lasting impression on the campus community, then students will refer their friends to our businesses when they come to visit or attend a game. This same attention to personalized service will also increase your regular customers' sense of value and loyalty. This is priceless advertising, and it flows naturally from great customer service.

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