A lot of customers get comfortable and shop frequently at a store once they know that they can completely rely on a retailer and has loved the experience offered. So what does a retailer have to do in order to retain their customers and go beyond the in-store experience for their customers? Well, a sound loyalty program is an absolute necessity.
Loyalty programs are influential in bringing back the old customers, retaining customer loyalty and impacting future buying decisions.
Chris Luo, VP of Marketing of loyalty technology company FiveStars said that, “Loyalty programs are proven to increase customer lifetime value by up to 30% or more by increasing visit frequency, increasing spend per visit, and winning back lost customers”
New Age Techniques to Increase Brand Value & Customer Engagement
Customer Loyalty is something very vital for retailers. It is vital for retailers to give all their customers that one-to-one interaction and maintain a close relationship. In today’s digital world, Omni-Channel engagement is very essential for brand loyalty.
Omni-channel retail marketing paves the way for seamless customer engagement. Interacting with customers across platforms and devices with personalized messages will help retailers draw customer loyalty and maintain a good relationship. Monitoring customer interests and activity through AI and Big Data can easily identify what customers want and interest them to buy those specific products.
And as for social media marketing, it improves Brand Recognition, Enhances Trust and Credibility, Referral Marketing, Increases Sales, Identifies Brand Ambassadors. People spend a minimum of 30 minutes every day on popular social platforms like Facebook, Twitter, Pinterest, Reddit, LinkedIn, Instagram etc. It is thus a very effective means of online lead generation. According to Aberdeen, companies with well-defined Omni-channel customer experience strategies in place achieve an average 91% higher year-over-year increase in customer retention.
Reaping the Secrets of Amazon Go
The unmanned check-out feature in the Amazon Go stores has been the talk of the town. All these days’ shoppers have spent a lot of time waiting to buy their products, but now they can walk out of the store with their products without any hassle. This seamless shopping experience is achieved by the Amazon Go App. The App seamlessly bills the product to the customer’s account as and when the customer picks up the product. This feature has won the hearts of the customers.
The retail industry is witnessing customer tracking, mapping, customer engagement/experience, self-service and loyalty programs dynamically converging into the smart connected store 2.0. Today’s tech-savvy shoppers are the driving force behind the need for the digitally connected stores and growing Omni-channel experience. PRIOS is one such solution that does the magic in retail stores providing seamless connected store experience.
- The Connected Store 2.0 – Beyond the In-store Experience - August 5, 2019
- The Connected Store 2.0 – Endless Self-service Possibilities - July 5, 2019
- The Connected Store 2.0 – In-store Customer Experience - June 19, 2019