An Untapped Resource
Billions of dollars are spent each year attempting to drive consumers to one’s place of business. Competition is keen, and everyone is looking for that “new” creative idea that will put them over the edge.
There is a growing trend among many big box companies to focus less on product marketing and more on building customer relationships through partnerships within the local community. An article in Retailing Today says that one of Home Depot’s strategic goals is to “create a stronger connection with customers.” Drug Store News notes that CVS Caremark “expects to play an active role in meeting consumers’ needs in an expanding healthcare system.” And Dollar General’s mission is “to serve others” and provide their customers “with a better life.”
Family Dollar is creating that connection to its customers by partnering with outside vendors like Redbox, to “provide value, convenience and additional reasons for customers to visit their stores more often,” said its President and COO Michael Bloom. According to Drug Store News OTC expert Michael Johnsen, there is another untapped opportunity for vendors to sell more, “by engaging with retail education programs.”
All of these companies are practicing Goodwill Marketing.
“Goodwill marketing” is a value-added service that brings in local businesses or organizations to retail stores to educate and alert consumers about issues or events that are important to them and to the local community.
Dedicating a space in your store that fits your floor plan and traffic flow patterns, and working with the vendors to establish an impactful presentation will turn this event into a win-win for all involved parties.
For the retailer:
- Increased traffic flow
- Invaluable community goodwill
- Becoming a proactive educator
- Increased sales
For the vendor partner:
- Increased exposure
- Attract new customers
- Promote brand awareness
- Increased sales
For the customer:
- Educational opportunity
- Heightened destination experience
- Special promotional opportunities
- New resource
Goodwill marketing can make your business the focal point of your community and, at the same time, build relationships with your valued customers.