Customer Retention

Successful businesses must be customer-centric. Retail marketers know it’s important, but they’re confused about how to make it happen. This is understandable, considering some of the challenges they face. Retailers still have a myopic view of customers, and thus they're lacking answers to basic questions such as the following: Where is most revenue coming from? What are the challenges associated with generating repeat purchases from loyal customers? Where do we need improvements to our customer marketing, channels, products and services?

Consumer loyalty reward programs across every facet of retail are antiquated and ineffective. Seventy-seven percent of adults in the United States participate in loyalty programs, however, more than $100 billion in loyalty points have gone unclaimed as trust in loyalty program benefits plummets. These rewards points go unused because consumers either don’t know how to claim…

There's nothing more important than building up confidence for your brand. However, it won’t happen fast and it won’t happen easily. It will likely take some incremental investments, but it doesn’t need to break the bank. Here a few ways that will help: Authenticity One of the most important elements of building confidence is authenticity.…

Faced with intense competition and shocking levels of store closings, retailers are scrambling to get up-to-date with what customers expect, embrace new models of smart store technology, and encourage customer loyalty. The speed at which retailers are falling has made this imperative all the more pressing. The desire and need to have loyal customers is…

Today more than ever, retailers are being forced to take their focus on customer satisfaction to extraordinary levels. The standard for customer satisfaction is being driven higher by companies like Amazon.com and its large retail competitors as these companies move from a focus on “customer satisfaction” to “customer obsession.” This obsession has made factors such…

The heat is on retailers to become customer-centric. Customers have higher expectations than ever before, and competitors that reliably meet those expectations seize a reliable edge. The key is to put the customer at the center with cohesive data and purpose, starting at the top.

Black Friday is poised to be strong for U.S. retailers this year, according to findings from a recent study conducted by Periscope® By McKinsey, which was designed to determine consumer sentiment towards the shopping event as well as the categories consumers will shop in and how they will shop. Almost half (44 percent) of U.S.…

With the threat of online shopping, brick-and-mortar retailers have been forced to embrace the importance of the experiential aspect of their stores to drive repeat foot traffic. It takes something really compelling for the average consumer to go to a physical store instead of ordering whatever they need from the comfort of their own home.…

With the threat of online shopping, brick-and-mortar retailers have been forced to embrace the importance of the experiential aspect of their stores to drive repeat foot traffic. It takes something really compelling for the average consumer to go to a physical store instead of ordering whatever they need from the comfort of their own home. […]

Most retailers put a lot of time and effort into attracting new customers. It makes sense: you need customers to buy your products and sustain your business. However, generating more sales from existing customers is a more efficient, less expensive way to grow. The probability of selling to an existing customer is 60 percent to…