#3: Develop the perfect in-store experience.
The e-commerce shopping environment is definitely where some of the most important competition takes place in the retail market. Cyber Monday now outpaces Black Friday by $600 million, signaling that online shopping may indeed become the retail market of the future forever forward.
Then again, the in-store experience is unbeatable when it comes to the depth you can achieve with your customers. These are the experiences customers will talk about with the people they see on a daily basis.
How to use the in-store environment: Couple your in-store focus with other elements of your sales strategy. Make relevant instant offers perfectly optimized to customer preference. Provide product recommendations so close to what your customer wants it's as though your marketing department is clairvoyant. Give coupons for in-store deals out on social media so you can walk customers all the way from computer to store. Also cross-sell and up-sell with useful goods. Most importantly, train employees to maximize the experience for customers so they feel good about everything that happens inside your brick-and-mortar locations.
#4: Measure every variable.
Customer analytics are hotter than ever. With the rise of growth hacker marketing, businesses everywhere, of all shapes and sizes, now seek to combine better than ever data with the same traditionally smart creative marketing used in the past by top global brands. Measuring every variable related to your customers, from their website surfing experience to the word-of-mouth messaging they hear, will give a wealth of actionable information about how to sell them more products at better margins.
How to use deep data measurement to your advantage: While big data is a consistent threat to effectiveness in business, measurement is the only way to know if you have improved the situation of your customer or not. It's also the only way to know if you have improved your overall business or not. Measure every variable and adjust accordingly. Drill down into every element of your customers' psychology to determine what affects their behavior. Track and enhance customer conversion rates, repeat sales, visit frequency, online discussion and engagement, and each and every aspect of customer satisfaction. Consider it an ongoing process; measure and adjust as needed.
There is nothing like a discount to make a customer feel as though they are getting a little extra something for their efforts. They have made an active choice to shop with you, and discounts confirm that choice as a good one. As a reflection of that, discounts have become a determining factor for holiday season shoppers: a recent Associated Press article suggested that the majority of customers are looking to ease the burden of a topsy-turvy economic year.
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