Guiding Principles of Local Store Marketing

Local store marketing is all the rage - again. It seems like everyone flocks to LSM in tough economic times, forgetting that its relationship building and revenue generating tactics are some of the most effective and least costly tools around.

But not everyone will be successful at local store marketing, primarily for one reason only: They don't understand the philosophy behind it. They love the "cheap", "out of the box" ideas, but forget that there's a proven system behind the tactics.

So, if you're really interested in making LSM work for you, keep in mind the following principles.

1. LSM is about frequency of message, not reach
2. LSM is local in nature - 3-5 miles in densely populated markets
3. Persistence is worth as much as, or more than, creativity
4. Add creativity to persistence and you've got a winner
5. Good Local Store Marketing creates a buzz among existing customers that attracts new ones
6. LSM should be measurable
7. LSM considers the lifetime value of a customer, not his/her per visit worth
8. Marketing costs should be measured in cost per customer gained, NOT in cost per thousand
9. If you care about what your customers care about, they'll care about your business
10. LSM can be hard work, but if it's not fun, you're not doing it right