The retail experience is predicated on providing customers with a memorable respectful exchange that leaves them with a product they’ll hopefully love. How a retailer goes about this exchange is vastly different across various industries niches. Many retailers will prioritize their loyal existing customer base through their advertising product offering. Other retailers will attempt to create a product line advertising campaign so diverse that they hope to attract as many new customers as possible. Both of these methods are effective, but the way in which they’re achieved is most interesting. This post will breakdown the methods that are contributing to these strategies in detail.
Retailers’ strategies are the ways in which they improve dynamic revenue growth over time. The strategies that work towards targeting existing customers are different from the strategies that work towards attracting new customers. But what if businesses could balance both these strategies appeal to their existing customers differentiate themselves enough to attract new customers? Finding that balance starts by finding the most effective way to integrate both online in-store selling strategies to provide the most optimal shopping experience for their customers. Proper integration allows organizations the ability to use selling tactics such as cross-selling upselling to improve revenue growth.
Blending the online in-store experience is a marketing strategy known as omnichannel marketing. This strategy opens up the possibility for customers to interact with retailers through different online channels. As this is the norm, retailers who fail to adjust could see the end of their business. Not only do they have to strengthen their digital marketing strategies, they also have to be equipped with the necessary sales tactics to improve the physical retail experience as well.
The physical retail experience is one that has fallen out of the spotlight. Once a treasured time for many shoppers, the average time a customer spends in a store now is as low as fifteen minutes. However, through the use of these omnichannel strategies, retailers can continue to communicate interact with any customers through their bred social media pages, or a supported online store. This type of interaction is exactly what spurred certain retail trends such as the buy online pick-up in-store option to bring otherwise exclusive e-shoppers into retail stores.
From the example above, it’s clear that digital techniques have an impact out of the store, but how about in the store? Well, one method that has become fairly stard in most retail locations is digital signage. Whether that be an interactive tablet that allows customers to browse the items in-stock in a particular retail location or signage meant to display important details about a particular set of products. Digital techniques are capable of simplifying the customer’s process in-store when utilized correctly.
It’s clear that there is a need to find the correct balance between these two schools of thought in retail. To learn more about how to properly integrating these strategies into your operations to drastically improve the customer experience, take some time read on to the infographic coupled alongside this post. Courtesy of IDL Displays