The only part of the entire process of sales that makes money is when the buyer actually pays you for the item. It is the moment we all look forward to. The question becomes here, how do you make those same buyers come back to YOU even when there are others out there that may be cheapest on the AH. The solution to this is fairly simple. In order for people to come back to you, you have to make their experience absolutely wonderful, so good in fact, that they add you to their friends list just to be able to talk to you the next time they need that gem.
The most basic way to do this, is to give a bit extra. Sometimes when people buy from me in person, if I have a ton of extra stock of emeralds or sapphires, which are worth all of 5g on my server) and the person is spending 100g or so, ill give them 1 after the trade for free. I usually cut it if I can into something they might need. If I leave it uncut, after they thank me, I ask that they simply do not use it to undercut me in the AH, and remind them that people have in the past. It usually garners a laugh, and saves me some hassle. More often then not, that extra gem will sit in their bank until that rare time they might want to use it. Every time they see the gem, they are reminded as well :).
Once people start coming back to you regularly, you can begin to actually sell off-AH more than on the AH, further helping your profits by not paying deposits or AH fees. This only allows you to sell gems EVEN LOWER. I have actually undercut myself in trade chat by selling gems under my listed auction price, as when sold in trade, i make more.
Retail Retention is focused on getting buyers to return to you specifically, and building a network of other JC in which you can ask for cuts or gem-swap if your supply overflows (see: my current autumn's glow supply is over 100, while I have less than 10 of all others, yet I keep getting autumns glows!!!!!!!)
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Honestly, I'm not so sure this actually works in a game. I'm sure you have some good experiences with it, but if your profit margin is so low, giving something that is worth 5g doesn't seem like it would be a good idea. The way I intend to keep business coming is to give people advice on what gems to use. I've been tanking for awhile now and I definitely know my stuff about it, so when I see startup tanks asking me to cut a bunch of gems, I talk to them about it and look at their gear. Just the other day I made a fresh 80 tank a bunch of saronite gear and cut 6 solid sky sapphire gems for him, but I also chatted with him for like 30 mins while I was messing around in org cutting other gems for people. He buddied me and I'm sure he will ask me about tanking in the future as well as have me cut gems and make blacksmithing items.
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