[{"@context":"http:\/\/schema.org","@type":"Article","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/#Article","articleBody":"Yet again, one of your favorite brands is running a promotion for new customers. You\u2019ve seen the social media ads and\u00a0 e-mails about steep discounts for your first-time purchase. This stings a bit. Why don\u2019t they focus on customer retention strategies for once?\nYou\u2019ve shopped with this brand for years. Don\u2019t they know that you already buy their products? And where\u2019s your promotion for being a loyal customer?\nCustomers notice when they \u2013 and their loyalty \u2013 aren\u2019t valued. In today\u2019s digital retail environment, these snubs and slights are all the more obvious.\nThat\u2019s because many retailers\u2019 digitalization efforts have focused on customer acquisition rather than on customer retention.\n \n2021 Retail trends: From Boomers to Gen Z, the strategies that dominate\n   What key trends should retailers watch this year? Will consumers stick with online shopping or flock back to stores? We've got the answers.  \nDuring a time of massive disruption, forward-thinking retailers found stability by focusing on their existing customers. And as shopping behaviors continue to shift, customer retention is still the key to success.\nCustomer retention strategies for retail include:\nPrioritizing digital\nProviding omnichannel customer experience\nPersonalization\nQuality over quantity: Customer retention strategies\u00a0\nWhen a brand markets to long-time customers as if they\u2019ve never even heard of the brand, it\u2019s safe to say that it doesn\u2019t have a digital-first strategy. Why?\nBecause companies with digital-first strategies can easily tell the difference between a customer and a prospect. These companies built their retail experience around a unified IT infrastructure that centralizes customer data. This data informs the company\u2019s software for marketing, the customer experience, and more.\nA digital-first strategy bridges the online and offline divide. When systems and software are fully integrated, you can more easily operate your brick-and-mortar locations and e-commerce shops and create an omnichannel experience that encompasses your entire brand. Brands that deployed an omnichannel experience prior to last year\u2019s dramatic change in shopping habits were prepared when those shoppers stopped showing up in stores.\nCustomer retention requires omnichannel CX\nIf your brand wasn\u2019t ready then, it can be now \u2013 as the world opens up again, window-shoppers are making a comeback. But these shoppers have new standards, and they want streamlined, consistent, and hassle-free shopping no matter where they start or finish their experience.\n \nHow to master omnichannel in retail: 5 steps for CX success\n   Having an omnichannel strategy is essential for retailers today. What are some key steps for success? One UK retailer offers some lessons to live by.  \nFor instance, a customer that begins browsing products on your e-commerce site should be able to visit your brick-and-mortar store and pick up that search in person. Even if you don\u2019t have the same variety of products in store, your retail staff should be empowered to help the customer with digital access to your product catalog.\nA true digital-first experience would see staff tapping into the customers\u2019 profile, which includes access to items they may have favorited on your e-commerce site.\nWhere an omnichannel, digital-first strategy was once a perk that pleased savvy shoppers, it\u2019s now a necessity across the board.\nTailored experiences keep customers coming back for more\nCustomers want to be rewarded for sticking with your brand. Customer retention strategies for retail should include personalization to encourage customers to stay loyal. A personalized customer experience starts with a digital-first approach.\nMany customers are fine with you knowing exactly who they are, including what they buy and how they shop \u2013 as long as you provide equally valuable services in exchange. Are you going to incentivize customers with tailored offerings and promotions based on their frequent purchases? Or are you going to pester them with irrelevant ads and promotions they can\u2019t use?\n \nExperience management: Beyond data collection for deep insight, better CX\n   Learn how an experience management solution collects customer feedback and translates this feedback into powerful metrics for the business.  \nWith the right data insights, you can improve sales with tailor-made engagements that encourage customers to keep coming back.\nConnect with an e-mail, send a text, or provide a promotion in your mobile app. You can even trigger these engagements with specific criteria, such as after the customer has visited your store, when they\u2019ve left items in their cart, or if their favorite items are on sale.\nConsider encouraging anonymous buyers to become returning customers with their own accounts so they can take advantage of your personalized offerings and experiences. If a customer makes a purchase as a guest, they should easily be able to make an account later that includes access to their purchase history and order tracking info.\nCustomer retention strategies: Fortification for the future\nA digital-first mindset \u2013 and a focus on customer retention \u2013 can also save your business time and resources.\nMany businesses sink money into ads every time they want something, and that \u201csomething\u201d has historically been new customers. Instead, you can build resilience by leveraging your existing network of customers.\nCustomers have more choice and power than ever before. As competition thickens and markets saturate, customer retention strategies and a digital-first approach help assure your customers made the right choice in choosing you.\nShifting retail landscapes. Varying buying behavior. What makes people click \u201cbuy\u201d? We\u2019ve got the answers HERE.","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/#Article_Person","image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/#Article_Person_ImageObject","url":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/uploads\/2018\/09\/Maria_Morais-150x150.jpg"},"name":"Maria Morais","sameAs":["https:\/\/twitter.com\/CeuMorais","https:\/\/www.linkedin.com\/in\/ceumorais\/"],"url":"https:\/\/www.the-future-of-commerce.com\/contributor\/maria-morais\/"},"dateModified":"2021-11-04T16:01:32+00:00","datePublished":"2021-07-19T05:01:06+00:00","description":"Customer retention strategies for retailers start with making digital a priority and providing omnichannel, personalized customer experience.","headline":"Loyalty rewarded: Customer retention strategies for retail","image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/#Article_ImageObject","height":"630","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/07\/Customer-pain-points_1200x375-1200x630.jpg","width":"1200"},"mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/","name":"Loyalty rewarded: Customer retention strategies for retail","publisher":{"@type":"Organization","@id":"https:\/\/www.the-future-of-commerce.com\/","additionalType":"https:\/\/www.wikidata.org\/wiki\/Q1193236","description":"Relevant, timely information & analysis on commerce trends, both consumer-facing and B2B.","logo":{"@type":"ImageObject","@id":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/themes\/hybris_foc\/assets\/images\/layout\/logo-new-2x.png?_=1","height":"96","url":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/themes\/hybris_foc\/assets\/images\/layout\/logo-new-2x.png?_=1","width":"500"},"name":"The Future of Customer Engagement and Experience","sameAs":["https:\/\/podcasts.apple.com\/us\/podcast\/a-call-for-a-better-experience\/id1479742201","https:\/\/twitter.com\/FutureOfCEC","https:\/\/www.linkedin.com\/groups\/4844282","https:\/\/www.the-future-of-commerce.com\/feed\/"],"url":"https:\/\/www.the-future-of-commerce.com\/"},"url":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/#Article"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2021","item":"https:\/\/www.the-future-of-commerce.com\/2021\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"07","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/07\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"19","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/07\/\/19\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Loyalty rewarded: Customer retention strategies for retail","item":"https:\/\/www.the-future-of-commerce.com\/2021\/07\/19\/customer-retention-strategies-for-retail-success\/#breadcrumbitem"}]}]