3 Things I Learned from Petsmart
I believe that successful bicycle retailers need to look outside of the industry to learn from the best-practices of other great retailers. The bike industry doesn't have the money to do elaborate market research or consumer behavior studies. So let's learn from the specialty industries that do.
US consumers spend over $10 billion annually on their pets. Corey and I contribute more than our fair share to that amount each year. As a result, our store of choice has done an excellent job of keeping us engaged in the shopping experience with regular communication and targeted materials.
- We get an average of 1 direct mail each month from Petsmart. I can always count on their artwork being clean and the message precise. The production quality is excellent and the size is distinctive. Every one has a specific call to action and a coupon code to inspire action within the next 2 weeks. The coupons are almost always on something that we need.
- Periodically we get a direct mail from Petsmart that specifically targets a product that we use, in most cases our particular brand of dog food. Our brand recently had a change in packaging design. We were sent a mailer explaining the change and offering an incentive for us to visit. Petsmart understand what we need and because they speak directly to us as their customers. This is the dream situation for any bicycle retailer.
- They send monthly emails featuring printable coupons. Once again, these coupons are targeted to us and our needs. They typically feature 3 types of discounts offering low threshold-low value up to high threshold-high value. They have a narrow date range so you have to act fast. Petsmart does an excellent job of integrating their marketing channels.
This is the program that I'm striving to bring to the bicycle industry. If you are a dealer and you want to use the power of your customer database to drive more frequent customer traffic and increase transaction size then give me a call.
Are you a pet person? If so, you might enjoy listening to this recent episode of Fresh Air.