In today’s competitive retail environment, it’s never been more important to not only attract new customers but just as important to keep the customers you currently have. In fact, research has shown that it’s 10 times more expensive for businesses to acquire new customers than it is to keep the ones they currently have. Notably enough, an increase of just 5% in customer retention can lead to an increase in profits between 25 and 95%. Here’s how to reignite loyalty.
Image: Amina Filkins
Make in-store payments easier
Making in-store payments easier can be easier if you have a wireless credit card terminal available. It will make life easier when your store is busy. You’ll be able to move the card machine around to ready customers so that you don’t need to cause delays. Speedy experiences can satisfy customers and encourage them to come back.
Create an environment where shoppers will remember
Make your retail environment an appealing, immersive destination that draws in customers. Keep your stores beautiful and welcoming to showcase your products. Work on the lighting, store layout, signage, and even the scent—all are important elements that can shape an unforgettable impression with consumers. Incorporate touchable merchandise, demonstration products, and sensations that heighten or unlock an emotional connection with the shopper.
Customizing products
If you are reselling products, try customizing your products so they are more unique; thus, the customer will only have access to your products. This can be applied to any sector in the retail industry. For example, if you work in the fashion industry, bring in handmade pieces from local artisans. Not only is this piece going to be a conversation starter and add variety to your inventory, but it is also going to set your business apart from others because your competitors will not be carrying the same item.
Loyalty programs
Start a customer loyalty program in which you reward customers with points for their recurring purchases or commitment to your brand. Use clients’ purchasing or engagement history to offer discounts or other benefits, perhaps in the style of a frequent flyer program, for clients in your loyalty program. Encourage customers to sign up for your loyalty program and get involved to earn rewards and benefits.
Personalize techniques for the buying experience
Confidently embrace personalization techniques to tailor the buying experience for each person based on their preferences and past behaviors. Apply information and insights about the customer base, such as past purchases or browsing behavior, to customize suggested products, promotions, or communications. Show shoppers they are valued and understood, and offer up personalized recommendations and rewards.
Image: Alexandra Maria
Presence across more than one platform
Independent presence across multiple channels is also one of the key factors in staying connected with customers beyond the store. You can build customer loyalty with customers today who are leading multi-device lifestyles, and consuming various types of media across a string of devices, so they need a convenient way of purchasing. You can combine all your operational and back-office systems with point-of-sale, ecommerce, order management, marketing, and mobile solutions.
In today’s competitive retail environment, it’s never been more important to not only attract new customers but just as important to keep the customers you currently have. In fact, research has shown that it’s 10 times more expensive for businesses to acquire new customers than it is to keep the ones they currently have. Notably enough, an increase of just 5% in customer retention can lead to an increase in profits between 25 and 95%. Here’s how to reignite loyalty.
Image: Amina Filkins
Make in-store payments easier
Making in-store payments easier can be easier if you have a wireless credit card terminal available. It will make life easier when your store is busy. You’ll be able to move the card machine around to ready customers so that you don’t need to cause delays. Speedy experiences can satisfy customers and encourage them to come back.
Create an environment where shoppers will remember
Make your retail environment an appealing, immersive destination that draws in customers. Keep your stores beautiful and welcoming to showcase your products. Work on the lighting, store layout, signage, and even the scent—all are important elements that can shape an unforgettable impression with consumers. Incorporate touchable merchandise, demonstration products, and sensations that heighten or unlock an emotional connection with the shopper.
Customizing products
If you are reselling products, try customizing your products so they are more unique; thus, the customer will only have access to your products. This can be applied to any sector in the retail industry. For example, if you work in the fashion industry, bring in handmade pieces from local artisans. Not only is this piece going to be a conversation starter and add variety to your inventory, but it is also going to set your business apart from others because your competitors will not be carrying the same item.
Loyalty programs
Start a customer loyalty program in which you reward customers with points for their recurring purchases or commitment to your brand. Use clients’ purchasing or engagement history to offer discounts or other benefits, perhaps in the style of a frequent flyer program, for clients in your loyalty program. Encourage customers to sign up for your loyalty program and get involved to earn rewards and benefits.
Personalize techniques for the buying experience
Confidently embrace personalization techniques to tailor the buying experience for each person based on their preferences and past behaviors. Apply information and insights about the customer base, such as past purchases or browsing behavior, to customize suggested products, promotions, or communications. Show shoppers they are valued and understood, and offer up personalized recommendations and rewards.
Presence across more than one platform
Independent presence across multiple channels is also one of the key factors in staying connected with customers beyond the store. You can build customer loyalty with customers today who are leading multi-device lifestyles, and consuming various types of media across a string of devices, so they need a convenient way of purchasing. You can combine all your operational and back-office systems with point-of-sale, ecommerce, order management, marketing, and mobile solutions.
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