Your most unhappy customers are your greatest source of learning.
Customers love to be acknowledged. Retailers who go the extra mile in making their customers feel special or enhance their experience are certainly raved about. So, when it comes to good retail relationships, there might be some brands that stand out in the customers’ minds. But why so? Is it because they serve them in the most special way? Or, are they extremely efficient in taking their customers’ suggestions and reaching out to them often? Or, do they carefully send regular updates based on their customers’ preferences?All these experiences together create a holistic idea of good customer relationship management in the retail industry.
What is a customer relationship management practice?
In the context of the pandemic, consumer behaviour is constantly changing and so is their loyalty. Building trust among customers is the most challenging, yet the most important task for retailers. Customer relationship management practices in the retail industry are the way a company or a retailer engages with its customers to improve the latter’s experience. Companies that manage better customer relations are always on the higher side of positive customer retention. Studies show that 61% of customers stop buying from a company if they have a poor customer experience.
So, how can you, as a retailer, build long-lasting personal relationships with your customers?
Let’s look at a few ways!
We all remember those brands who reach out to us more often via texts and mails. Shooting a shout-out has become a common form of communication in the digital age. For example, companies such as Lululemon and Apple were well-aware that forced store closing was soon going to be followed. Hence, before the government ordered it, these stores reached out to their customers, in an attempt to encourage online shopping and responsively provide them the required services. Reaching out to your customers via emails and texts is a great way of showing them that you care about their needs. It humanises your brand and establishes a personal connection with your customers.
Taking regular feedback from your customers and addressing their concerns are also equally important as part of good customer service. Chatbots, emailers, SMS and feedback forms are some of the ways to regularly listen to what your customers are saying and work on the issues raised by them, subsequently building on the positive reviews.
In 2008, Starbucks founder Howard Schultz launched the open invitation platform, “My Starbucks Idea”. This platform encouraged customers to share their ideas on how to make the products better. And, it turns out within the next 5 years, the platform received more than a dozen ideas and the company put most of them to use. It is said that happy customers are loyal customers. And, one of the best ways to delight them is by making them feel included in your brand’s growth with out-of-the-box ideas.
POS has helped revolutionise small businesses by enabling retailers to optimise inventory and make payment processes seamless. It also increases customer satisfaction. POS system tracks buying patterns of customers with its effective customer analytics. It stores purchasing data and helps create personalised promotional messages to specific customers. When your customer is looking to buy an item and they receive communication of a discount/ additional purchases at the time, it automatically increases the chances of driving them to your store.
Deliver a seamless payment experience : Additionally, a POS system is easily integrated with multiple payment gateways like mobile wallets, phone pay, digital wallets, etc. This provides a hassle-free and smooth contactless payment process to the customers. As a result, they will keep coming back to your store.
The dynamics of customer behaviour are changing at lightning speed. It has become imperative to devise a culture that seamlessly brings together preferences and the latest technologies in one single place. Create engaging, accessible, and valuable experiences for your customers with iRetail suite of services, and stay ahead of the curve to be #FutureReady.
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