Strategies for Improving Customer Retention

Rain

Which costs less: keeping existing customers or acquiring new ones? If you answered keeping existing customers, you’re correct! The post Strategies for Improving Customer Retention first appeared on Omnichannel Retailing Hub by Rain Retail Software.

8 Customer Retention Strategies for 2021

Rain

Introduction In 2021 it’s no longer enough for brands to rely on customer acquisition alone. The post 8 Customer Retention Strategies for 2021 first appeared on Omnichannel Retailing Hub by Rain Retail Software.

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5 Ways to Achieve Employee and Customer Retention

Retail Touch

A common theme being emphasized in the business world now more than ever is that what happens on the inside of an organization and amongst employees is often felt on the outside by its customers. Meanwhile, improved management transparency can lead to up to 30% higher retention.

The Five Best Things to Say to an Angry or Upset Customer

Shep Hyken

That made me start thinking about the best ways to begin a conversation with a complaining or upset customer. Of course, there may be a few pleasantries to welcome a customer into the conversation. So, here are a few lines that customers love to hear.

5 Top Customer Service Articles of the Week 5-24-2021

Hyken

Each week I read a number of customer service and customer experience articles from various resources. How To Thank A Customer For Their Business | Tips, Tricks, & Budget-Friendly Ideas by Philipp Wolf. 5 Top Customer Strategies CEO Should Know by Duong Nguyen.

5 Top Customer Service Articles of the Week 9-13-2021

Shep Hyken

Each week I read many customer service and customer experience articles from various resources. What Is Customer Loyalty and Retention (And 3 Tips for Improvement) by Scott Clark. Why B2B Customer Experience is Just as Vital for Growth as B2C by Gal Oron.

Three Tips for Retaining Customers After the Holiday Season

Retail Merchants

The holidays have come and gone and hopefully, you were able to capitalize somewhat on consumer sentiment towards supporting small businesses and were fortunate enough to acquire new customers. Retaining customers is crucial as it’s […].

5 Top Customer Service Articles of the Week 7-26-2021

Shep Hyken

Each week I read many customer service and customer experience articles from various resources. Negative Employee Experiences Can Translate Into Poor Customer Service, Report Says by Emilie Shumway. (HR How to Build Customer Loyalty with a Thank You Page by Thomas Griffin.

5 Top Customer Service Articles of the Week 11-29-2021

Shep Hyken

Each week I read many customer service and customer experience articles from various resources. Increase Employee Retention With These 4 Tips by David Finkel. The customer experience really starts on the inside of an organization with the employee experience.

5 Top Customer Service Articles of the Week 6-14-2021

Hyken

Each week I read many customer service and customer experience articles from various resources. Actual vs. Intended Customer Experience: The Major Disconnect by Tara Sporrer. As the author of this article calls it, there is a customer service gap, a disconnect.

How to Collect Customer Data and Improve Shopper Experience

Retail Next

Retailers depend directly on consumers for their business growth, which has placed shopper experience and customer satisfaction at the top of the priority list, making customer and market research very important. Gauge customer and purchase trends.

5 Top Customer Service Articles of the Week 10-4-2021

Shep Hyken

Each week I read many customer service and customer experience articles from various resources. 7 Techniques That Are Key to Customer Retention Today by John Hall. My Comment: Returning customers are more profitable, not just because they return.

7 Simple Ways to Promote Customer Reviews for a Successful Retail Business

Retail Next

Many factors affect a customer’s decision before buying items from a given company, whether online or in physical stores. But why are customer reviews so crucial to any business? 3 – Go to Your Customers. 4 – Respond to All Customer Reviews.

Naked Wines revenue grows 42 per cent as online booms

Inside Retail

In the past year we’ve experienced first-hand the wave of customers flocking online to buy wine during the Covid-19 crisis. But more importantly we have seen these purchasing behaviours endure post lockdown… we can see [our] strategy producing impressive customer retention figures.”.

Why brands should diversify their portfolio to increase customer loyalty

Inside Retail

They say a company’s most loyal customers are also its most profitable. And in a market that has been significantly affected by the pandemic, building a strong and loyal customer base has never been more important, especially as times continue to remain uncertain.

Woolies sells stake in Marley Spoon

Inside Retail

per security, and said it intends to remain committed to the alliance: which covers marketing support and customer origination programs, as well as cooperation on logistics and supply chain operations.

Make or break: Inefficient returns processes cost retailers lost sales and customer life time value, warns a new report

Retail Technology Review

Retailers' returns policies present critical conversions and customer retention moments in European shoppers' buying journeys, a new report from KPS, an agile transformation consultancy, reveals

How Loyalty Programmes Can Benefit Your Business

365 Retail

Loyalty programmes are becoming more and more popular as a tool to harness and improve customer retention. Simply put a customer loyalty programme does exactly what it says on the tin, it rewards customers for their loyalty to your brand or business.

The Value of Repeat Customers

Storis

In an industry with more competition than ever, the importance of earning repeat customers has never been more crucial. The more loyal customers a retailer secures, the more successful it will be. It takes 12 positive customer experiences to make up for one negative experience.

Can Location Intelligence Make (or Break) the Holiday Shopping Season?

Retail Touch

It’s equally important to hold fast to some tried and true tactics to keep existing loyal customers. Studies show that loyal customers are more likely to make repeat purchases, which ultimately drives revenue. Inform Customers About Product or Service Offerings.

Welcome to the new customer experience

Inside Retail

In today’s new normal, the shopping experience is no longer defined by the boundaries of bricks-and-mortar, but by the customer journey as a whole. To do so, marketers are leveraging more data, technologies, and channels to create this type of relevant and customised customer journey.

Four KPIs to capture the success of your retail loyalty program

Inside Retail

Focusing on customer-centric data is the key to measuring the impact of your retail loyalty program. While every brand has unique measurement needs and goals, these four customer-centric KPIs are a great starting point for building your retail loyalty metrics dashboard.

5 Top Customer Service Articles of the Week 5-17-2021

Hyken

Each week I read a number of customer service and customer experience articles from various resources. How to handle customer complaints? Alibaba.com) This article summarizes 4 common types of customer complaints and worked out 6 tips to handle them smartly and strategically.

Retail Adventures Podcast with Kizer & Bender & Sea & Scott

Retail Adventures

Jason Baum, Customer Retention Specialist Jason Baum is a skilled customer service, marketing, sales and business development professional with a comprehensive background in the development and execution of strategic communication plans to drive customer acquisition, retention and engagement.

Amazing Business Radio: Philipp Wolf

Shep Hyken

Managing Customer Success. Preventing Customer Churn. Shep Hyken interviews Philipp Wolf, CEO of Custify , a company that helps SaaS businesses deliver great results for customers. They discuss how to utilize customer information and behavior to help ensure customer success.

What data tells us about retaining customers during Covid

Inside Retail

Customer retention is important to every business, but loyalty is hard-won, especially when a single bad customer experience can now be easily amplified to a mass audience in a matter of seconds. Business Customer Sponsored content Ground Control

At Home to be Taken Private in $2.8 Billion Purchase

Retail Touch

At Home plans to retain this momentum with an emphasis new customer retention and growth. Together with H&F, we will have the resources and flexibility to provide our customers with a differentiated experience that meets their evolving needs.

Wunderkind eyes European expansion as it increases revenues by 70%

365 Retail

Supporting this expansion will be the recruitment of new talent, with a raft of new full-time positions being recruited this year across various disciplines, from sales and marketing to customer success, operations and design.

Analysis: Keeping up the Covid cashflow

Inside Retail

Woolworths, Coles, Aldi and Metcash are doubling down on initiatives to maintain sales momentum and lock in customers they acquired in 2020. Supermarket chains were virtually lottery winners of the 2020 Covid-19 pandemic, spectacularly increasing sales and earnings.

The Future of Retail and AI

Retail Touch

As a result, retailers had to move quickly to implement social distancing mandates in stores to make their customers feel as safe as possible while shopping. In 2021, retailers will utilize the data they’ve gathered over the past year to focus on customer retention and fostering brand loyalty.

Major Customer Experience Trends Shaping the Retail Industry

Independent Retailer

Even though the COVID-19 pandemic changed so many customer experience preferences, as we slowly recover and get back to normal, consumer desires continue to shift and retailers need to constantly keep up with these transitions. Customers Expect Personalized Experiences.

LAFCO Achieves Open Rate 3X Higher Than Average With Targeted Loyalty Email Campaign

Retail Touch

Customers also can access free shipping, samples, birthday gifts and a tier-based rewards program to accelerate their point-earning capability. “Within just three months after the launch, we witnessed an impressive 26.72% improvement in customer retention and a 23.39%.

How a Retailer Earned Customer Loyalty

Storis

Retail success relies on customer retention. While a store full of customers is ideal, the number that truly counts is how many are loyal to your brand. According to Bain & Company, increasing your customer retention rates by 5% can generate a 25% increase in profit.

3 Reasons Digital Marketing Matters To Your Retail Business

Retail Minded

Most companies will develop stronger relationships with their customers, broaden their target market, and play more competitively in a market full of solid players with the help of digital marketing. . Increases Customer Loyalty . Promote your social media channels to customers.

Marijuana Customer Loyalty Programs: Embraced by Users, Profitable and Compliant for Retailers

Retail Touch

No, of course not; we still need them in place for various legitimate reasons, i.e., ensuring drug companies do not take advantage or lie to their customers or overstep consumer privacy civil rights. Take advantage of compliant customer appreciation and loyalty programs.

Five KPIs That Tell you Everything About Your Returns Customer Experience

Retail Touch

Many retailers are getting the concept of customer journeys wrong, or, rather, they have great customer journeys mapped out — they just end after the “purchase” moment. The customer journey starts off linear, but it should end in a cycle of repurchasing.

How retail outlets can keep costs down

Retail Focus

Both scenarios would affect the customer’s experience and will have them queuing up at your competitor’s door, making the cost cutting approach out to be a massive failure. Customer Retention is Key.

CommBank helps unlock opportunities for businesses

Inside Retail

An insights tool from CommBank is helping businesses learn more about their customers to improve overall customer experiences. For more than 30 years, Greenhalgh has worked in customer-facing businesses, one of which ranked among Australia’s biggest wholesale exporters of meat.

KPIs In Retail: 7 Essential Metrics to Level Up Your Retail Game

V Count

In General, KPIs are used to determine if a business is meeting its goals in terms of sales, growth, customer satisfaction, etc., Your conversion rate is an indicator of good you are at turning visitors into buying customers. Build a relationship with customers.

ATV 52

Q&A with Angel Maldonado, CEO, Empathy.co

Retail Focus

With Empathy.co , we have created an offering that allows brands to become a companion to the consumer, via a secure, ethically transparent and trustworthy commerce experience that puts the customer at the forefront of search and discovery.

How to Implement “Ship From Store” Services in Your Retail Business

Retail Times

Ship from store is exactly what it sounds like — it’s an order fulfillment method where the retailer ships customer orders from their brick and mortar store rather than a warehouse. Improve customer satisfaction. Communicate with customers.

5 Top Customer Service Articles For the Week of April 26, 2021

Hyken

Each week I read a number of customer service and customer experience articles from various resources. CustomerThink) Here are nine new findings from the 2021 State of the Contact Center Report which included 400 US and UK contact center and customer experience leaders.

How the Subscription Economy Is Reimagining Every Industry

Retail Touch

The subscription business model is growing increasingly attractive for businesses hoping to bring in more predictable revenue streams every month, while also accounting for customers’ preference for convenience. Over the past few years, the subscription economy has grown to new heights.