Building retail brand loyalty should be key focus for merchants
Businesses spend large amounts of time and money on marketing to potential customers and promoting their products. Most of these efforts are successful, as they get shoppers in the stores or on websites. However, once retailers have acquired consumers, these strategies should not be discarded and attention should be put on making these patrons loyal.
Brands should focus increasingly on loyalty initiatives, as a recent study by Synqera revealed that maintaining relationships with repeat customers is what drives retail growth. There are a variety of ways that businesses can foster loyalty, including offering discounts and deals based on past purchases, sending out marketing materials to valuable patrons and rewarding shoppers for buying additional merchandise. Synqera states that technology can also boost loyalty, especially in the form of more efficient point-of-sale terminals, such as mobile payments. Using these solutions gives customers more convenience and faster transactions, further increasing loyalty.
Troy Media highlights some other methods that can help with turning new shoppers into repeat buyers. One approach is for retailers to empower their employees and turn them into brand ambassadors. If workers are excited about their companies, customers will be too. In addition, businesses can gather feedback from consumers to pinpoint areas for improvement.
