Many business owners may overlook the potential positive impact working together can have on sales growth. Yet as a dollar store business owner you need to be aware of the potential good working together can have for both your dollar store as well as your partner businesses.
Is your dollar store business cooperating and coordinating efforts with other businesses in your local area? Many business owners may overlook the potential positive impact working together can have on sales growth. Yet as a dollar store business owner you need to be aware of the potential good working together can have for both your dollar store as well as your partner businesses. This partnering is done with simple, easily managed actions which generate new traffic for each business. With both benefiting, coordinating with other local businesses just plain makes sense. Read on for tips to make this work for you.
Tip#1) Start by introducing yourself to all of the businesses within your market area. It all starts by gaining trust. Both you and your neighboring business must feel there will be value gained from working together. Introduce yourself, stop back by, follow-up a couple of times, and then if you feel this is a neighbor who will follow through, present your proposal.
Tip#2) Target campaigns to match the business. Focus on simple campaigns your partner business can easily manage. After all, at the beginning there is sure to be some skepticism, so make the effort easy and the potential rewards big. Then as you and your business partner see positive results adding new and more complex actions becomes a much easier decision to make.
Tip#3) Follow up after each activity to receive feedback and results information.
Since the goal is to generate new traffic and for the new traffic to make purchases, measuring results is easy when printed coupons for merchandise discounts or even a free item are tracked. The goal of course is for each of you to send potential shoppers who turn into new customers.
Tip#4) Start with simple, easy to execute activities. For example, you might start with an exchange of discount coupons with other retailers. Each can place the coupons from the other at all check stands. Possibly even have cashiers point out the discounts or place them into shopping bags with each sale.
Tip#5) As you become comfortable grow actions ever-bigger. From discount coupons or a free item, start thinking bigger. Possibly you share a weekend customer appreciation barbeque event or hold coordinated sidewalk sales. You could share the expense of advertising for an upcoming seasonal event. The list is limited only by your imagination and what your partner businesses are willing to try.
There are many ways to successfully start and grow a dollar store business. One of the most effective is through networking and partnering with local businesses. Be innovative as you search out ideas which will benefit both businesses.
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