Operations
Get the most out of your merchant solutions to maximize revenue
Six ideas for elevating the customer experience and boosting your bottom line.
By ATB Financial 18 May 2023 1 min read
The world of retail isn't what it used to be. The evolution of online shopping has accustomed today’s customers to tailored promotions and highly personalized shopping experiences. The internet also makes it much easier to discover and compare different retail rewards programs.
On the other hand, retailers have more options than ever to meet these rising expectations and thrive in today’s competitive landscape. Some are low cost or even free.
In this article we’ll share six strategies in three different categories for adding value to your retail customer experience.
Seasonality
To everything there is a season
- Limited time promotions can attract new attention to your business by introducing novelty and excitement to the customer experience. Common types include offers linked to seasons, holidays and trends, but the only real limit is your creativity. Promo Cards can add extra value to these offerings.
- Gift cards can boost sales and turn your customers into your advocates. Ideally they should be sold both in-store and online.
Social media
Get social
- Reach current and potential customers online with Promo Cards or gift cards. Branded options of both make for unique and eye-catching offerings that are valuable for customers.
- An email newsletter from your business is a great way to reach customers and boost awareness. Offering an incentive for readers to sign up, like a small discount on their next purchase or early notification about an in-demand product, can help you grow your mailing list.
Messaging
Right message, right time
- Target specific client groups with tailored, time-bound offerings. Start with research to identify the audience you wish to reach and the most effective channel. This can range from a particular social media platform to email to direct mail. You might create an email campaign to reward repeat clients, encourage online shoppers with abandoned carts to complete their checkout with a followup email, or re-engage past clients that still follow you on social media.
- What gets measured gets managed. Track your promotions with detailed reporting. You don’t need to compile a ton of data, but identifying the proper key performance indicators makes evaluating your efforts and finding repeat success much easier.
For tailored advice on honing your retail strategy, reach out to an ATB expert.