Enabling clarity so that people serving brands can maximize their influence in the marketplace
Gone are the days when retailers could be content with one-off, transactional interactions with customers. The relationship between retailers and customers has evolved into a dynamic, two-way exchange, and it is crucial for retailers to take the lead in fostering this connection. While some customers may not actively seek this relationship, it is the retailer’s responsibility to initiate and nurture it.
We have discussed the importance of educating your customers and effectively showcasing your offerings. Now, it is time to delve into the third key area of success: incentivising.
When customers engage with your brand, they are inherently asking, “What’s in it for me?” This simple question drives much of their decision-making process. To maintain their attention and drive action, you need to provide compelling answers.
Encourage your customers to share their experiences and feedback. User-generated content, such as reviews, photos, and testimonials, adds authenticity to your offerings. Highlight these on your platforms to show potential customers how real people are benefiting from your products and services.
I was recently shopping at an apparel store, and the sales associate asked for my personal details without much explanation. It struck me how vital it is for businesses to educate customers on why their data matters.
My personal experience at the store made it clear that the burden of education often falls on businesses.
Investing in technology that adds value to your business is paramount. For retailers with products sporting small profit margins, measuring critical metrics such as basket sizes and foot traffic becomes essential. You cannot improve what you do not measure.
Throughout my career, I have had the privilege of working alongside exceptional leaders who have left an indelible mark on my understanding of effective leadership. These individuals embody qualities and principles that set them apart …
The success of an organization is often attributed to external factors such as market conditions, economic trends, and unforeseen challenges. While these elements undoubtedly play a role, it is essential to recognize that results depend more on what organizations do than on what the environment brings. To illustrate this point, let us delve into …
Achieving long-term success is no simple feat. While factors like innovation, cost efficiency, and product superiority may secure short-term gains, the secret to enduring prosperity lies in market orientation. Market orientation may not be an immediate prerequisite for success, but it is the compass that guides organizations towards sustainable growth and relevance eventually.
In the business world, profit is undoubtedly crucial. But what if your relentless pursuit of profit starts eroding the very foundation upon which your business stands? When an organization becomes more profit-driven than solution-driven, it inadvertently becomes anti-customer. Here are some glaring signs that your brand might be heading down that perilous path and what you can do to steer it back on course.
Retailers are sitting on a treasure trove of information about their customers’ preferences and behaviours. The key lies in how effectively this data is harnessed. Fortunately, technology has made this task more manageable.