Empowering Customers With Convenience Drives Customer Retention!
Hyper-connectivity
and increasingly busy lifestyles emphasise a new differentiator in the sphere
of customer retention, namely convenience. Globally, international consumers
now want convenience at each and every stage of shopping, as well as brand
engagement with services or products. Empowering your consumers with convenient
access to the retail experience will yield rich dividends for your business.
Quick
urbanisation and changes in households are also impacting consumers
internationally. By 2025, 53% of the Asian-Pacific region’s population will be
residing in urban areas and well-developed countries like the United States are
already urbanised. In a fast-paced, frenetic urban lifestyle, research shows
consumers seek products that make life easier and are convenient to use.
- The Need for Convenience
Culture,
location, market maturity, circumstances and technology are key influences
driving companies towards convenience. Convenient solutions tailored to
different niches and segments can reap rich benefits for businesses that seek
to remain ahead of the curve and address consumers with better solutions and
products. Banking on ‘moments’ marketing does not allow you to become embedded
within the customer experience. Support lasting and meaningful engagement by
authentically engaging with consumers who are not only diverse, but wiser about
purchasing habits.
Consumers
are no longer just loyal to brands. They are loyal to engagement experiences
that particular brands offer. So the emotional connection remains at the cornerstone of effective customer retention.
- Moving Past the Wow Factor
Customer
service is no longer about just delighting your customers. Delighting customers
alone does not build loyalty. Acting on insights can improve customer service,
reduce costs and decrease customer churn. Customers are loyal to firms that go
above and beyond the call of duty. Research, in fact, shows exceeding
expectations during service interactions makes customers loyal.
At
the centre of attracting recurring customers is the focus on convenience.
Providing incentives for consumers to return to the company, instead of the
competition can work, only if convenience is the buzzword. According to
research, customers across the globe want a convenient and seamless experience
across online and in-store shopping experiences.
Convenience
is a critical driving factor, when it comes to technologies shoppers like to
see in a retailer. This could include self-checkout stations, mobile QR codes
for discount deals or even contactless payment or mobile wallets to pay for
in-store purchases.
- Convenience Equals Flexibility
Creating
more convenience and flexibility around checkout and payments could improve the
overall customer experience and the impressions clients form of their retailer.
For retailers that want to take advantage of the convenience factor, shoppers
need to be given flexible options. Retailers should also integrate loyalty
programs with ERP and PoS solutions, so customers are earning rewards and
points consistently.
Customer
retention in the modern retail markets is all about understanding what the
customer wants, much like it was before. However, with advancing technologies
and a frenetic pace of living, convenience has become the centre of what a
customer wants. So, empowering customers is the key to driving client retention
and building a strong connect with your audience.