Recommendations Sure To Improve Your Organization’s Omnichannel Marketing Efforts

For as much as retail organizations are willing to chase after new customers through unique acquisition strategies, research suggests they may be better off focusing more on their existing customers. Within the infographic featured alongside this post, you’ll notice one statistic specifically related to the rates of retailers successfully reaching a new customer compared to reselling to an existing customer. Those rates are a 5% to 20% chance of selling to a new customer compared to a 60% to 70% chance of selling to an existing one. Is acquiring that new customer worth all of the investment of their advertising and marketing efforts? Or is catering more to an existing customer better suited? This post will provide a breakdown of what methods are most successful for reaching both sets of customers successfully.

Each and every retail organization is interested in finding ways to increase their profit through new methods. One place to start would be the infographic featured alongside this post. The most sound way to do this is by tightly connecting the online and in-store techniques used by your organization to garner business. In doing so, you’re giving customers the most enhanced shopping experience while they’re in your retail locations and maintaining their interest even when they leave the store through personalized offers online. These techniques are typically referred to as cross-selling and up-selling.

The two of these methods are used in what’s known as an omnichannel marketing approach, which can be difficult to perfect. However, as a result of recent lockdown restrictions, it’s imperative to be able to pull off for the sake of any retailers’ customers. While some long-standing brick-and-mortar stores may be hesitant in adapting this strategy, it is in the best interest of both customer and organization. The ways in which both parties benefit is astounding.

For example, let’s take an average visit from a customer in a brick-and-mortar retail location. Most customers spend about 15 minutes to an hour in store while searching for their products and then purchasing their products. However, with an established digital marketing presence, your brand is able to be continuously interacted with even outside of any retail location. Social media pages, text alerts, e-mail offers, etc., are all ways in which customers can digitally interact with your business. A unique enough offer is the perfect catalyst for bringing customers into the store.

A strong digital strategy is what enables retail organizations to create more personalized connections with their customers. This is largely seen through a customer’s account on any retailers’ website. With the right amount of sophistication, retailers are capable of tailoring a customer’s entire experience based on their activity on the site, their previous purchases and even their wish lists. Some shoppers may even have an easier time finding the right product for them from home, especially those who are hoping to remain safe amidst lockdown restrictions.

Interested in learning more about how these strategies could improve the way your retail organization operates? Be sure to spend some time consulting the infographic included alongside this post for more helpful information. Courtesy of IDL Displays