Leading priorities for any retail business should include customer loyalty, extended engagement and long-term happiness.
You should be aware that what worked yesterday won’t always be effective in modern retail when it comes to digital progressions and overall customer expectations.
With the eruption of smartphone usage, apps and Cloud EPOS, retailers, both small and large, are coming up with new strategies to improve customer experience and engagement instore, online and out of store, to retain them.
Being able to meet improved customer expectations and keeping them content and engaged is a continuous task that, without the correct software system foundation and integration, will not be able to live up to expectations.
By installing a new EPOS solution to offer reliable and intelligent operations and transactions, customer retention, both now and in the future, is more likely to be guaranteed.
What Can You do to Improve Retention?
Customer retention is vital; the more brand engagement you can build, the more loyalty you create. The greater loyalty you have, the stronger the duration of your customer relationship.
While this will not be the latest innovation that is going to blow owners’ minds, the focal question will be how to win over and attract today’s customer, who are the smartest and most-savvy consumers ever. The thing is, people know how to switch their loyalties at the drop of a hat, so you have to offer them a reason to not buy from a competitor at the drop of a hat (or surprise delivery charge). You need to come up with a way to connect with them, ensuring a long-term and engaging relationship is established. A good way of starting is to stay up to date with the ever-changing shopping expectations and consumer demands.
The Challenge Businesses Face
Chances to shop and find what’s right for the consumers are plentiful, so, therefore, establishing the essential Omni-channel experience for retention presents itself as an obstacle to overcome for many with legacy systems that are bulky, expensive and often no longer up to standard.
On the topic of these outdated systems, depending on their size, shape and structure, many retailers are having the foresight to migrate over to new all-in-one cloud platforms. These solutions provide businesses with a system cloud data hub that stands up to the challenges of multi-channel engagement and transaction, and notably, the important loyalty and retention we touched on earlier.
What Should You Consider When Investing in a New EPOS System?
Fundamentally, by having the infrastructure to support your initiatives, it will help you to evade lost sales, customer service issues, frustration and consequent detachment.
Contrary to what many believe, establishing lifetime customer value isn’t just founded on improved shopping frequency, but rather through larger transactions. And it’s both of these elements that begin after establishing trust and loyalty. For customer loyalty to occur, it requires retention and for retention to occur it requires knowing how to engage with your customers. However, you must have the tools in place to seamlessly marry the two together across all channels in order to grow a true Omni-channel customer experience.
As we progress into a merged digital and physical retail world, it’s time to continue reinventing EPOS and retail management tools and systems from every touch point including every promotion, event, loyalty program and receipt – something that our retail EPOS software is more than capable of offering.
The answer lies in Cloud EPOS with built-in cross-channel promotions, loyalty, CRM, mobile POS, e-receipts, Click and Collect, ecommerce, warehousing and merchandising.
Cloud tech’s not just paved the way for new and simpler potentials because of its scalability and access, but essentially, broken down the barrier in terms of cost for independent retailers. How? Well, steep investment costs are now removed, while IT resources that support playing on a level playing field with national retailers and brands are also attainable.