The myth about the loyal customer: when the first big box store moves into an area, the local papers interview local merchants about their reactions. Invariably, one or more merchants will be quoted saying they have “a loyal customer base and do not have any worries about the new competition.” Some months later the journalist goes back to that same merchant and finds the business boarded up and closed.

The survival of your business boils down to how your customers perceive your business, not how you do. It may seem obvious but remember a customer views the world from their point of view. Ask yourself, “What value does my customer receive by shopping at my store?” Price is only one of the many values, yet it is the most significant value big boxes can give their customers. There are other values, however, that attract customers and that are difficult for big boxes. When the right values are offered to match the needs of your target customer, you will build a loyal customer base — and a thriving business.

Successful businesses are carving out niches despite this new era of big box stores. First, these businesses have identified the characteristics of the customers they are targeting and the quantity of these potential customers. Then they ask, “is the customer base large enough to support my business?” If there are not enough customers to support your business, it may be time to re-think your business plan.

Second, they learn about their customers. This includes knowing their needs and desires; what they look for when buying; where they live; how often do they buy; how much money they spend; what they like and dislike about your competitors, and so on. A complete knowledge of your customers will help you understand them and know how to appeal to them.

Third, with this knowledge in hand, they formulate and implement a strategy to add value to their customer’s lives and build a profitable business — and survive in this changing market.

Taking the time to think about your customers and developing a plan to meet their needs is critical. If you want to learn practical strategies for your business and that will help you survive in this new big box era, come to one of these two-session, hands-on workshops on this topic.

• In Poulsbo: Sponsored by the City of Poulsbo – Oct. 9 & 6.
• In Port Orchard: Sponsored by the City of Port Orchard – Oct. 25 & Nov. 1.

For more information, call (360) 475-7786. Seating is limited, so please make your reservations early.

(Editor’s Note: Rand Riedrich, Certified Business Advisor at the Kitsap Business Assistance Center (KBAC,) offers free one-on-one business counseling, and can be reached at 360-307-4220, rriedrich@oc.ctc.edu. For KBAC partnering opportunities, please contact Wendy Miles, Director of Customized Training and Military Education at Olympic College at 360-475-7786.).