The age old question for retailers has to do with whether or not they should be prioritizing new customer acquisition methods over existing customer appeasement techniquesSome retailers may believe that in order for a return customer to be born, they must first be coaxed enough as a new customerWhereas other retailers may think that keeping these existing customers happy is what contributes most to their bottom lineWhat is the one true method to moving the needle forward for retailers? This post will detail which method is most successful, in addition to the sales techniques used to make the most out of both customer segments.
Are businesses making a mistake by overlooking the customers that are more likely to purchase from them again then? Even focusing on existing customer retention won’t net retailers all that they’re looking forThe infographic paired with this post does provide a few ideas regarding these strategies, thoughNamely the weaving of online and in-store techniques known as upselling and cross-selling.
Another important take away from the featured infographic is that omnichannel marketing is imperative to the success of a retail business todayDigital marketing has become increasingly important as the amount of online exposure retailers can receive has skyrocketedThink about it, most customers don’t spend all that long shopping in physical retail locationsOn average, a customer will spend anywhere between fifteen minutes to an hour in a retail storeA strong digital presence allows retailers to continue to engage with their customers long after they exit their physical locationsIn fact, a number of the strategies retailers use digitally are meant to attract customers to physical retail locations.
Finally, digital techniques in-store are just as successful in enhancing the customer experienceFor example, stores that utilize screens to display information such as price, customer reviews, or features regarding specific products give more of an insight when representatives aren’t availableThis sort of functionality is also found in tablets in certain retail locations.
The level of personalization that these in-store offerings provide may seem minimal, but they do make sure a customer can source whatever it is they’re looking for and be sure it matches the qualities they need.
No retail business should be without an omnichannel strategy that incorporates their strengths while considering their customersThese strategies and the tactics that accompany them make all the difference in the way these retailers communicate with their customersTo learn more about these strategies in addition to the way in which they’re utilized, be sure to continue reading on to the infographic featured alongside this postCourtesy of IDL Displays.
