Tag: Customer centricity

How Customer-Centricity Fuels Success in the Omni-Channel Retail Landscape

Posted on by Omprasad Devadiga

Welcome to the future of retail, where shopping isn’t just an activity—it’s an experience. In our hyper-connected world, customers hop effortlessly between online stores, physical shops, mobile apps, and social media, expecting a smooth and personalised journey at every turn. As a leading Unified Software company, ETP Group is here to show you how to build a customer-centric business that shines in this omni-channel retail universe.

Imagine walking into a store where everyone knows your name, your favourite products, and even your latest purchases. That’s customer-centricity. It’s all about making your customers feel special, understood, and valued. In an omni-channel world, this means creating a unified experience across every touchpoint. Whether your customers are browsing your website, shopping in-store, or scrolling through your app, the experience should be seamless, engaging, and tailored just for them.

Why does providing an omni-channel experience matter?

So, why should offering an omni-channel customer experience matter to you? Before we dive in, let’s check out some eye-opening statistics that underscore the importance of an omnichannel approach.

  • Businesses with omnichannel strategies see 91% higher year-over-year growth.
  • A robust omni-channel CRM strategy retains 89% of its customers.
  • 71% of shoppers use smartphones for in-store research.
  • Omni-channel customers spend 10% more online and 4% more in-store.

These stats clearly show that omnichannel customers are more valuable, driving better revenue and business growth.

How can omni-channel retail experiences help you create more valuable customers?

Enhanced Personal Experience: An omnichannel shopping experience allows customers to interact with your brand and shop through their preferred channels. They can compare and finalise products online and purchase them in-store. This level of hyper-personalisation and seamless transition between channels leads to a superior customer experience and higher satisfaction.

Boosted Customer Loyalty: When customers enjoy a stellar experience, they are more likely to stick with your brand and continue shopping with you. This increases customer loyalty and retention. Since loyal customers spend three to five times more than other customers, offering omnichannel experiences can significantly boost your revenue.

Step-by-step Process to Create an Omni-Channel Retail Experience for Your Customers

Every omnichannel customer engagement strategy should aim to provide a consistent experience across all channels. This requires identifying and integrating all customer touchpoints to deliver a seamless, unified experience.

If this seems challenging, follow this step-by-step process to create an effective omnichannel experience for your customers.

1. Research Your Customers and Create Buyer Personas

To create an effective omnichannel experience, understand what your customers need and their preferred channels. Conduct thorough research to identify who your customers are, which channels they use, and how they interact with your brand.

For example, Gen Z and millennials may favor online channels like social media, while older customers might prefer physical stores. Balance your online and offline channels based on these insights.

Then, compile this information to create detailed buyer personas. These personas help streamline your target audience, customer segments, and marketing campaigns, allowing you to run behaviorally targeted ads that are twice as effective as regular ads.

2. Identify Customer Touchpoints and Map Customer Journey

To optimise the experience across channels, identify where your customers connect with your brand—be it organic content, search engine ads, mobile apps, social media, third-party marketplaces, offline ads, in-store, and more.

A common misconception is that more touchpoints equal more sales. While multiple touchpoints can attract more customers, it’s not necessary to be present on every channel. Instead, focus on mastering a few key channels.

After identifying major touchpoints, map out your customers’ purchase journeys. Keep in mind that 92% of first-time visitors to a retailer’s website aren’t there to buy. Consumers often take a zig-zag journey, moving between channels and touchpoints. By mapping these journeys, you can spot opportunities to deliver seamless omni-channel retail experiences and better engage your customers.

3. Leverage the Right Tools and Technologies

With the rise of technology, offering an omni-channel CRM is now more accessible. However, the key is to choose the right tools that ensure seamless data flow between channels and touchpoints.

Essential tools for an omni-channel retail experience include:

  • Live Help Tools such as Chatbots and live chat solutions
  • Customer Relationship Management (CRM) tools to collect and unify customer data
  • Operations Management Solutions for omni-channel inventory management and order management
  • Social Media Management Tools to handle interactions across social channels
  • Helpdesk Support Platforms to provide high-quality, multichannel support
  • Ad Management Tools to manage advertisements across various channels

4. Recognise Elements that Impact Omni-Channel CRM

Many factors influence customer experience. For website visitors, ease of navigation, loading time, and content are crucial. In-store, product availability, and service quality matter. Each channel has unique elements that affect the customer experience.

As an omnichannel brand, identify and optimise these elements. Monitor customer behavior closely. If many customers abandon their cart at checkout, revamp the checkout page. If store visitors aren’t making purchases, consider hiring new sales staff.

5. Collect and Analyse Customer Feedback

Mapping your customers’ journey and monitoring their behavior provides insights into their shopping experience. However, to truly understand their thoughts and feelings, collecting feedback at every touchpoint is essential.

There are various methods to gather customer feedback. Prompt customers to complete feedback forms after purchases, send follow-up emails and social media messages requesting their input and use polls or surveys to gather additional insights.

6. Cultivating a Customer-Centric Culture

The heart of a customer-centric business lies in its people. It’s about fostering a culture where everyone is committed to delighting the customer. This involves training your team to anticipate and meet customer needs, empowering them to go above and beyond in service, and constantly seeking ways to improve. Leadership plays a key role here, setting clear goals, encouraging innovation, and celebrating customer-focused achievements.

Wrapping It Up

In today’s omni-channel retail world, building a customer-centric business is a must. By embracing omni-channel, harnessing the power of data, integrating cutting-edge technology, and nurturing a customer-first culture, you can create memorable, personalised experiences that keep customers coming back.

At ETP Group, we’re excited to help you navigate this dynamic landscape and put your customers at the center of your universe. Contact us today!

Fashionably Loyal: Win Customers Over in a Cutthroat Retail World (Part 2)

Posted on by Omprasad Devadiga

Welcome back to Part 2 of “Fashionably Loyal”! In Part 1, we explored the transformative shift in the consumer landscape and the importance of customer-centricity in today’s competitive fashion retail environment. Now, let’s delve deeper into the practical strategies that empower retailers to build long-lasting customer relationships and win over hearts (and wallets).

5. Comprehensive Customer Understanding

The foundation of a customer-centric approach is a deep understanding of your target audience. This knowledge empowers you to anticipate their needs, personalize their experiences, and ultimately, exceed their expectations.

Here are several effective methods to gain a comprehensive understanding of your customers:

  • Data Collection: Leverage technology to collect customer data throughout their shopping journey. This includes purchase history, browsing behaviour, demographics, and preferences.
  • Surveys: Conduct regular customer surveys to gather valuable insights into their needs, desires, and pain points.
  • Customer Journey Mapping: Visualize the complete customer journey, from initial brand awareness to post-purchase engagement. Identify potential friction points and opportunities for improvement.
  • Data Analytics: Utilize advanced data analytics tools to extract meaningful insights from customer data. Identify trends, customer segments, and personalize marketing campaigns for maximum impact.

By continuously collecting and analysing customer data, fashion retailers can move beyond guesswork and create experiences that resonate deeply with their target audience. ETP Group’s Unified Commerce Solutions provide a centralized platform for customer data, facilitating a 360-degree view of your customers and enabling data-driven decision making.

6. Personalization at Scale

In today’s crowded marketplace, generic marketing messages fall flat. Consumers crave personalized experiences that cater to their individual preferences. Here are ways to leverage data and technology to personalize the customer journey:

  • Data Utilization: Use customer data to segment your audience and create targeted marketing campaigns, product recommendations, and loyalty programs.
  • Content Personalization: Personalize website content, email marketing campaigns, and social media posts based on individual customer profiles.
  • Communication Customization: Tailor communication style and tone based on customer preferences. For example, some customers might prefer concise emails, while others might appreciate detailed product descriptions.

Personalization at scale goes beyond simply addressing customers by name. It’s about understanding their unique needs and anticipating their next move. This level of personalization fosters loyalty and creates a sense of connection with the brand.

7. Seamless Omnichannel Experiences

Today’s fashion shoppers expect a seamless and consistent shopping experience across all touchpoints, whether browsing online, visiting a physical store, or engaging on social media. Here’s how to create a unified omnichannel experience:

  • Consistency: Maintain a consistent brand image, messaging, and product information across all channels.
  • Integration: Integrate online and offline systems to ensure real-time inventory visibility, order tracking, and customer purchase history across all platforms. ETP Group’s Omni-channel Retail Solutions excel at this integration, providing a unified customer experience that eliminates data silos.
  • Accessibility: Optimize website and mobile app for all devices (desktop, mobile, tablet) to ensure a smooth user experience across all platforms.

By providing a seamless omnichannel experience, retailers demonstrate respect for customer time and convenience, while fostering a sense of brand coherence and trust.

8. Proactive Customer Support

Proactive customer support goes beyond simply reacting to issues. It’s about anticipating customer needs and offering solutions before problems arise. This approach fosters trust and builds stronger customer relationships.

Here’s how to implement proactive customer support:

  • Predictive Analytics: Utilize data analytics to identify potential customer issues before they occur. For example, if a customer abandons their shopping cart, send a gentle reminder with a discount offer.
  • Proactive Communication: Anticipate customer questions and provide clear, concise information on your website, FAQs, and social media channels.
  • Live Chat Support: Offer real-time chat support to answer customer questions and address concerns promptly.

By prioritizing proactive customer support, fashion retailers demonstrate a commitment to customer satisfaction and build lasting relationships built on trust and positive interactions.

9. Continuous Feedback Loop

Customer feedback is invaluable for continuous improvement and optimizing the customer experience. Here are ways to gather valuable customer insights:

  • Regular Surveys: Conduct regular customer satisfaction surveys to gauge satisfaction with various aspects of the shopping experience.
  • Social Media Monitoring: Monitor customer sentiment on social media platforms and address any negative feedback promptly.
  • Customer Advisory Panels: Create a customer advisory panel to gather feedback and insights from a dedicated group of loyal customers.

10. The Power of Putting Customers First

In today’s hyper-connected world, the path to success in fashion retail is paved with customer-centricity. It’s not just a strategy; it’s a philosophy that permeates every facet of your organization. Understanding, personalizing, and delighting your customers is paramount, as it directly impacts your bottom line, long-term growth, and brand reputation.

Continuously invest in understanding your customers better. Embrace personalization at scale, and be present across all channels where your customers engage. Empower your frontline staff to make a difference by anticipating customer needs and fostering a company culture that values and actively utilizes customer feedback.

Remember, the key to building loyalty and retention lies in placing your customers at the very centre of your business model. They are not simply your customer base; they are the heart and soul that drives your success. By prioritizing their needs and exceeding their expectations, you cultivate a loyal following that becomes the lifeblood of your thriving fashion retail brand.

Incorporating ETP Group Solutions:

ETP Group’s suite of Unified Commerce and Omni-channel Retail Solutions empowers fashion retailers to put their customers first in every interaction. From collecting and analysing customer data to facilitating seamless omnichannel experiences, ETP’s solutions become the backbone of a customer-centric strategy. By leveraging ETP’s technology, fashion retailers can ensure a frictionless purchase journey, personalized recommendations, and proactive customer support, ultimately fostering loyalty and building a thriving business that thrives on customer satisfaction.

Also read: Fashionably Loyal: Win Customers Over in a Cutthroat Retail World – ETP

Fashionably Loyal: Win Customers Over in a Cutthroat Retail World

Posted on by Omprasad Devadiga

The fashion retail landscape is undergoing a seismic shift. Gone are the days of passive consumers simply browsing racks and accepting whatever a brand offers. Today’s savvy shoppers are bombarded with choices, empowered by technology, and fiercely loyal to brands that prioritize them. This “Fashionably Loyal” article explores the transformative customer landscape, the high cost of customer churn, and the power of a customer-centric approach in this competitive environment. We’ll then delve into actionable strategies for creating exceptional customer experiences, building long-lasting relationships, and ultimately, winning hearts (and wallets) in the cutthroat world of fashion retail.

1. The Modern Transformative Shift in the Consumer Landscape

The rise of e-commerce, social media, and mobile technology has fundamentally reshaped how consumers discover, research, and purchase fashion items. Today’s shoppers are digitally-savvy researchers, often armed with smartphones and a wealth of information at their fingertips. They expect a seamless omnichannel experience, transitioning effortlessly between online and offline touchpoints (think browsing online reviews before stepping into a physical store). Social media influencers heavily influence purchase decisions, and customer expectations for personalized recommendations and loyalty programs have skyrocketed.

This shift in consumer behaviour demands a response from fashion retailers. Those clinging to traditional, siloed approaches risk losing ground in the ever-evolving landscape. ETP Group’s Unified Commerce Solutions bridge the gap between online and offline operations, providing retailers with a single, holistic view of their customer data. This empowers retailers to deliver consistent messaging and a seamless shopping journey across all touchpoints.

2. The High Cost of Customer Churn

Losing a customer isn’t just a missed sale; it’s a missed opportunity for future purchases, brand advocacy, and referrals. Studies by Bain & Company show that a mere 5% improvement in customer retention can lead to a profit increase of 75%. The cost of acquiring new customers can be five times greater than retaining existing ones.

Customer churn is a serious threat to a fashion retailer’s bottom line. It’s crucial to understand why customers leave and implement strategies to win them back. ETP Group’s Omni-channel Retail Solutions offer powerful analytics tools that help retailers gain insights into customer behaviour and identify potential churn factors. By proactively addressing customer concerns and creating personalized experiences, retailers can turn disengaged shoppers into loyal brand advocates.

3. Customer-centricity, a Competitive Advantage

In an environment of fierce competition, customer-centricity is no longer a luxury; it’s a necessity. Shifting the focus from selling products to building long-lasting customer relationships unlocks a multitude of benefits:

  • Customer Loyalty: By prioritizing customer needs and exceeding expectations, retailers foster trust and loyalty. Loyal customers are more likely to make repeat purchases, even at premium prices.
  • Referrals: Loyal customers become brand ambassadors, enthusiastically recommending the brand to friends and family. This organic word-of-mouth marketing is invaluable and cost-effective.
  • Resilience to Market Fluctuations: Loyal customers are less likely to be swayed by competitors’ promotions. They understand and appreciate the value proposition of their preferred brand, providing a buffer during economic downturns.

Building a customer-centric culture requires a strategic shift in thinking. It involves understanding your customers, their needs, and their preferences. It’s about creating personalized experiences that make them feel valued and appreciated.

4. Strategies for Delivering Exceptional Customer Experiences

Fashion retail success hinges on delivering exceptional customer experiences across all touchpoints. Here are a few key strategies:

  • Personalized greetings and recommendations: Train staff to greet customers by name and offer personalized recommendations based on past purchases and browsing history.
  • Streamlined checkout processes: Implement frictionless checkout options like self-service kiosks and mobile wallets to minimize wait times.
  • Engaging online experiences: Create a user-friendly website with high-quality product images, detailed descriptions, and easy-to-use navigation.
  • Omnichannel rewards programs: Offer a unified rewards program that allows customers to earn and redeem points across all channels, online and offline. ETP Group’s solutions facilitate the seamless integration of such programs, fostering a more rewarding customer journey.

By focusing on these strategies, fashion retailers can create an exceptional customer experience that fosters loyalty and drives revenue growth.

Stay tuned for Part 2 of “Fashionably Loyal,” where we’ll delve into the essential building blocks of customer-centricity – comprehensive customer understanding, data-driven personalization, and seamless omnichannel experiences.

Omni-channel Retailing is not about the channel, it is about the Customer

Posted on by admin

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In the modern day scenario, while there are numerous elements that play a role in the success of a retail business, the most essential element is to be responsive to customer demand and meet customer expectations. However this seems to be a challenging ask in today’s digital era as the consumer behavior and expectations are highly dynamic and constantly evolving. For the consumers of today, shopping is no longer just wanting to purchase products — they also demand entertaining, convenient and personalized shopping experiences. Add to this the complexity of handling multiple channels where customers can connect with the brand or shop from.

Omni-channel retailing has gained popularity over the years and now it has become the new norm and necessity for retail business to thrive and flourish. Be it brick and mortar retail companies or e-commerce companies – most have realized the dire need to go omni-channel and are thus adding new channels to their operations so as to facilitate their business with the opportunity to be where the customer is. However, one of the biggest roadblock for retailers achieving success in omni-channel is focusing on the channels and not on the customer. Retailers must understand that very essence of omni-channel lies in delivering a seamless customer experience across channels and hence it is imperative to focus on customer centricity. Here’s how:

Understanding and meeting customer expectations

Considering the shopping habits of today’s shopper it is clear that consumers themselves have dramatically changed. Technology such as the internet and social media have significantly expanded their horizons enabling them to consume more information, find a wide range of products and share about their experiences. Emphasis is on curated offerings that customers seek along with personalized product recommendations. Retail companies can find success by realizing, considering and understanding consumers’ shopping preferences and then using retail technology solutions to provide more personalized experiences. In order to continue meeting the demands of evolving consumer expectations, it is very important for retail owners to follow the shopper journey and then orchestrate information, pricing, inventory and promotions as the consumer moves through to the path to purchase.

Encouraging and enhancing consumer engagement

It is not just about delivering a personalized and seamless omni-channel experience, rather it is about being able to do it consistently. This is what retailers should seek to achieve in order to be able to stay in the game. It is important for the retailer to understand that each and every part of the shopping journey is important. Therefore they must not only focus on the purchase but also aspects like information gathering, opinion seeking, post-sales services, promotions and so on as the customer moves along their shopping journey. Importantly, the retail brand must be able to stay connected with the customer across the entire journey span, transcending multiple channels. Moreover the brand should seek to enhance their relationship with customer through constant engagement that is personalized and relevant to them. Retail business’ success lies in not only realizing that whether the customer purchases or not, every touch-point across the customer journey there is an opportunity for the retail company to meet its customer but also must be seized by the retailer and efforts should be taken to keep the customer positively engaged. With the right retail software, this is definitely possible to achieve.

Creating and enriching customer experience

As mentioned above, retail is no longer about just the transaction between the retailer and customer. It is way deeper than that and retailers must go beyond their usual practices to reach that depth. As the modern day consumers are evolving dynamically, they are not just seeking to satisfy their material wants by purchasing products; they are craving experiences – experiences that will leave an impact on them and want them to come back and stay loyal to the brand. From the customers’ perspective, it is easier for them to stick with a retail brand that stands true to their expectations. Retailers must constantly look to create and deliver enriched omni-channel shopping experiences as well as ensure that these experiences are seamlessly unified and are specially curated for the customer. By creating these personalized shopping experiences across the customer journey, retailers will able to address the needs of their consumers on their own turf – eventually moving from shopping carts to the consumers’ hearts thus leading to sales, positive experiences and brand advocacy. The right mix of retail technology and innovation will make it possible for retailers to achieve success.