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Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
Retail Guide: 10 Commandments of Customer-Centric Retailing
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Retail Guide: 10 Commandments of Customer-Centric Retailing

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As our physical and online environments continue to come together, consumer behavior …

As our physical and online environments continue to come together, consumer behavior
keeps changing and retailers need to react. Today’s consumers are extremely connected and live a digital lifestyle. They are educated, expect speed and have become extremely demanding. With an overload of mass marketing, some customers have lost trust in retailers and have become less loyal.

In this guide, we will take you through the 10 commandments that every customer-centric retailer needs to follow in order to increase loyalty, new customer acquisition, visit conversion, transaction value and to optimize marketing and customer engagement costs.

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  • 1. OF CUSTOMER-CENTRIC RETAILING COMMANDMENTS 10
  • 2. As our physical andonline environments continue tocome together, consumer behavior keeps changing andretailers needtoreact. Today’s consumers are extremely connected andlive a digital lifestyle. They are educated, expect speedandhave become extremely demanding. With an overloadof mass marketing, some customers have lost trust in retailers andhave become less loyal. In this guide, we will take you through the 10 commandments that every customer- centric retailer needs tofollow in order toincrease loyalty, new customer acquisition, visit conversion, transaction value andtooptimize marketing andcustomer engagement costs.
  • 3. 01 02 03 04 05 06 07 08 09 10 Thou shalt KNOW thy customer Thou shalt AUTOMATE customer engagements Thou shalt PERSONALIZE thecustomer experienceat every channel Thou shalt EMPOWER sales associates and improvethestoreexperience Thou shalt SURRENDER to self-service Thou shalt EMBRACE onlinecommunities, social media, and customer-to-customer relationships Thou shalt LISTEN to and NURTURE thy best customers Thou shalt ADAPT branding to customer segments Thou shalt INTEGRATE systems, channels, supply chain, and organization as a whole Thou shalt JOIN themobilerevolution
  • 4. 01 Thou shalt KNOW thy customer Retail KPIs • Average transaction value • Average transaction size • Customer gross profit • Point of purchase • Campaign response • Social media presence Customers are interacting with brands frommany different touch points, whether it is in store, on social media or e-commerce platforms andit is critical for retailers tocapture this information wherever they may be. Collecting business intelligence empowers retailers in many ways, such as being able tobetter understandconsumer behavior andpreferences, profiling and segmenting customers, measuring performance by channel, forecasting sales and identifying trends in category performance. Convert these insights into action (campaigns, tactics, and engagement workflows) and optimize marketing and customer service investments.
  • 5. 02 Thou shalt AUTOMATE customer engagement Capturing, processing, andanalyzing critical customer data allows retailers to improve customer loyalty by engaging customers in ways that really interest them andat the right time. Create a sense of exclusivity andurgency by providing time- limitedoffers or follow up on abandonede-commerce carts by sending targeted messages. Monitor transactions at the POS, capture sale of Brand X jeans Trigger 10% off email coupon to customer for Brand X shirts and other accessories Track response and sale Sample Workflow
  • 6. 03 hello Thou shalt PERSONALIZE the customer experience at every channel Establish one-to-one relationships that are highly personalizedin product, service andoutreach at every channel. Whether in store or online, retailers shouldbe able toaccess a complete history of the customer’s purchases andshouldbe collecting valuable data such as customer preferences, contact information, lifestyle information, wish lists, andmore. Sales associates can advise a customer when a new collection fromtheir favorite designer has arrivedin store or headoffice can senda coupon for an itemfoundin the customer's online wishlist. The opportunities are endless! A multi-channel customer spends 3 to 4 times more than a single-channel customer. SOURCE:Women’sWear Daily, RetailersPursue Mobile with Conviction, 2010 Anna
  • 7. 04 Thou shalt EMPOWER sales associates and IMPROVE the store experience Store experience, customer service, andsales associate education are important in increasing store traffic, conversion, average transactions value andgross margin. Empower your sales associates with mobile technology andthe right set of tools so that they can provide outstanding customer service andemploy best selling practices. Several capabilities toconsider include inventory lookup, product browsing, accessible in-depth customer information (purchase history, preferences, wish lists) andmobile transactions. Conversion rates increase as much as 9% when customers were assisted by associates who possess a high degree of product knowledge and demonstrate strong interpersonal skills. SOURCE:Deloitte, The Changing Face of Retail, 2011
  • 8. 05 Thou shalt SURRENDER to self-service Does the phrase “Thanks, I’mjust looking” soundfamiliar? Every customer is unique andthere are some that simply donot want tobe servedby a sales associate. In this case, encouraging self-service is key andassociates can reply by informing the customer about their newest product or a current promotion and then let the customer browse the store until they are ready toengage. Several successful practices toconsider in order tomanage self-service include providing in store digital product browsing, way finding, ensuring consistency across all channels, personalizedrecommendations andoffers andaccess to account information. 50% off
  • 9. 06 Thou shalt EMBRACE online communities, social media, and customer-to-customer relationships Consumers are connectedandmore social than ever. They are talking about your brandandproducts, andit critical tobe present, tolisten andtobecome part of the conversation. 78%ofconsumerssaidthatcompanies’social media posts impact their purchases. 71% of consumers are more likely to make a purchase based on social media referrals.  SOURCE:Forbes,Are BrandsWielding More Influence In Social Media Than We Thought?,2012 SOURCE:Hubspot, 71% More Likely to Purchase Based on Social Media Referrals, 2012 Have personalizedconversations Ask questions Be open tosuggestions andcomplaints (customer service) Recognize those that contribute tothe conversations Give offers andrewards Share compelling content (videos, images) that resonate with consumers Keep an eye on follower growth andengagement activities such as likes, retweets, mentions, comments andshares.
  • 10. 07 Thou shalt LISTEN to and NURTURE thy best customers Customers know much more about your business than you may think andthere’s valuable information tolearn fromthem. Listen to their suggestions anddon’t hesitate tosolicit themfor their ideas. Ongoing engagement, whether it's before, during or after a sale, is alsoimportant. Keep the associate-customer relationship active by sending thank you e-mails or letters, confirming deliveries, and following up on replenishment items. The goal is toenhance loyalty andconvert customers intobrand evangelists andadvocates whowill fuel viral wordof mouth. Remember that brandevangelists have a high ROI. Not only do brand evangelists help lower your costs by acquiring new customers for you, they lower the cost of that acquisition by up to 50%. SOURCE:Zuberance, Brand Advocates:Turning Enthusiastic Customersinto a Powerful Marketing Force, 2012
  • 11. 08 Thou shalt ADAPT branding to customer segments The way customers interact with andbuy fromretailers has completely transformed. Customer loyalty still exists andis generally focusedon the brand, much more than the sales channel. That being said, customers are being bombardedwith thousands of brandmessages every day andthe only way cut through the clutter is by delivering highly relevant messaging. In order tokeep up with customers, retailers must adapt brands, in-store andcustomer experiences todifferent profiles, emotional connections andcultures.
  • 12. 09 Thou shalt INTEGRATE systems, channels, supply chain, and organization as a whole Customers are interacting with retailers across many channels and not only dothey want an omni-channel experience, they expect it. It is alsoa way for themtodifferentiate one brandfromanother. In order tokeep up with the changing retail landscape, retailers must integrate all touch points: stores, web, mobile, call centers, appointments/service, etc. Websites Mobile Store Email Social Media Call Center Digital Print Search 67%of online shoppers have made purchases in the past six months that have involved multiple channels. SOURCE:Zendesk, The omnichannel customer service gap, 2013
  • 13. 10 Thou shalt JOIN the mobile revolution M-commerce friendly site Mobile couponing, promotions, andproduct recommendations (text messaging and/or rich apps) Location-basedservices Personalizedkiosks Proprietary apps Joining networked/community apps (Facebook, Pinterest, Instagram) The definition of in-store mobility is rapidly expanding toconsumer-facing solutions which can be usedin the store as well. Here are several examples of consumer facing applications: Today’s customers are more andmore connectedthrough mobility in their daily lives. They have access toinformation such as reviews andcomparative prices when andwhere they want it, andas a result it is not uncommon for a customer toactually have more information about a product than the in-store associates themselves. Retailers have begun addressing these new shopping habits by providing better tools toassociates, more specifically by empowering themwith mobile solutions. Several common mobile solutions to consider include: POS Clienteling Inventory Management Analytics
  • 14. For 25 years, Raymark has been empowering retail with leading-edge enterprise software solutions that help the world’s most prestigious international retailers optimize stock turns, build customer loyalty, and increase sales. Raymark develops and markets the ultimate suite of flexible and interconnected applications deployed in a centralized environment and offers professional turnkey solutions including implementation, training and customer support. www.raymark.com Raymark 5460 Côte de Liesse Montréal, Québec Canada H4P 1A5 T: 1-800-346-7296 F: 1-514-737-0014 info@raymark.com www.raymark.com

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