27/03/2019

Get digital or suffer: the key factors to be successful during the digital era

Find out the main trends and updates in the retail industry

On March 12th and 13th, we participated to the e-commerce and digital marketing trade show eShow Barcelona, where experts from the digital environment met to show and discuss about the newest solutions to boost business growth.

Sharing the floor with national and international eCommerce leaders during these two days, we contributed with our RateNow feedback terminals, and at the same time we didn’t miss the opportunity to learn from great speakers about the always-evolving marketing industry.

Nowadays, an online store to complement the physical outlet is almost a necessity if you seek business growth. However, that does not come without challenges like customizing the experience of your customers or implementing coordinated omnichannel strategies.

Microsoft has published a study Global Customer Service 2018 over 5,000 people in different countries of the world (Brasil, Japan, UK, USA…) an we tell you the keypoints to make you business boost.

Do you know what is next on retail? Keep reading!

 

1. Customer experience as a differentiating factor

In many cases, markets are saturated and the differentiating element for brands is not represented by price and product anymore but rather by customer experience.

Customer service continues to be one of the key drivers of the customer experience as confirmed by a whopping 95% of respondents stating that customer service is very important for their loyalty to a brand.

Additionally, 61% responded that they had abandoned at least a brand because of poor customer service. Customer service is more than simply solving problems and answering to inquiries; it should be an integral part of the customer acquisition and relationship management strategies.

"Key-learning:avoid common frustrations to create better experiences. Good customer service builds loyalty through customized experiences that add value to customers’ life and create brand advocates transforming negative experiences into positive ones (customer recovery)."


2. Get digital or suffer

Retail world is advancing very quickly. Duringthe next 5 years those who don’t catch the train of digitalization will be left behind. We must look at startups as a great opportunity for our growth because they can help us with new ideas to digitalize our organizations: we do not always need to bear ourselves the burden of the entire process transformation. There are many startups specialized in market research, shopping experience, logistics or feedback. Better to look at the changing environment as an opportunity rather than a threat!

"Key-learning: technology evolves at high speed and as a matter of fact retail is following its pace. Brands need now to collect and analyze big amounts of data to create customized experiences that create differential value and advantage over competitors."


3. Create fans, not customers

Fans, those who have a special bond with the brand are the most influential towards other customers.Turn your customers into the best  promoters of your brand. Organize workshops, activities and courses in the point of sale to connect closely with them and generate memorable experiences; create events and product demonstrations or allow them to customize their purchase so that you can get to know them better. Each interaction is an opportunity to transform negative experiences into positive ones.

Additionally, consumers want to feel recognized and attracted by brands. They seek for brands that understand their needs and establish a conversation which is directly linked to the emotional dimension.

"Key-learning: a deep knowledge of consumers’ behavior, preferences and expectations combined with the right technology can empower the brand to reinvent the experience offered and transform customers into brand ambassadors."



4. Improve your customer service with in-store feedback

What do we know about our customers? Do they really appreciate our product or service? Do they truly like us? If you plan to grow your business and focus your strategy on the customers, collect their feedback to know what they think about you and how you can adapt product, service and space layout to their needs (We explain how here!). Let your customers know that if there is a problem, it will be solved and that the company will take care of them; and let’s not forget that happy customers are those who will end up repeating the purchase.

Nearly 90% of customers have a more favorable view of those brands that provide the opportunity to give feedback on their experience Giving voice to your clients will allow you not only to improve their experience but also to build loyalty by making them feel attached to your brand. However, brands do not allow their customers to give their opinion frequently enough.

"Key-learning: every company want their customers to be happy and the right technology is necessary to reach the objective. Customer feedback, whether negative or positive, through digital survey terminals will allow you to obtain in-store data and analyze them in real time, to streamline and optimize customer service processes."


You decide on the future of your business, RateNow gives you the chance to succeed in your retail business in the digital era and to improve the customer experience. Digitalize your processes to offer differential value compared to your competitors and avoid a fight on price or product differentiation. Just remember the main take-outs: make the experience a differentiating factor, create fans, digitalize (and don't suffer) and use in-store feedback to improve customer service.

Contact us for more information, we will help you to manage your customers’ feedback and improve their experience.
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