The WRLA is proud to offer seven $1,500 Bursaries and seven $3,000 Scholarships each academic year. To learn more about eligibility and for full program details visit www.wrla.org or contact Krista at kristas@wrla.org 

1. Define your brand’s most loyal customer base by analyzing data collected through the program, and work to engage those shoppers with your marketing and promotions efforts.

2. Use data collected through the program to create customer segments based on purchase patterns, demographics, and other differentiators. Look at how often shoppers visit your store and how much they spend. Then customize your promotions for each segment.

3. Set goals and strategies for reaching each segment. For example, find ways to reward your most loyal customers. Offer special discounts just for them or come up with creative rewards, such as free project supplies for an in-store workshop or exclusive access to an event.

4. Track standard metrics, such as the percentage of sales that come from loyalty program members or the percentage of transactions for which a loyalty card was swiped. This information can help you decide if your loyalty program is working.

5. If you don’t have a loyalty program yet, don’t start one without first coming up with a carefully thought out plan. Your program will be more successful in marketing your business if you start with a strong strategy.

The goal of the North American Retail Hardware Association is to help independent hardware and home improvement retailers become better and more profitable merchants through a wide array of educational and training programs, financial management resources, and human resource tools that are all available online. WRLA members get unlimited access to a full range of training and management services when they join NRHA through the WRLA. Visit: www.wrla.org or click here for more information about NRHA.

Whether you’re passing your business to a family member or an outside buyer, what steps should you take to succeed your business effectively?



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