Easy Ways to Bring Your Customer Back to the Store
To any retailer, the importance of customer acquisition and retention cannot be enough emphasized. Increasing brand loyalty is becoming more and more important as the customer today is presented with a huge range of brands. This is why in recent years, marketing strategies such as omnichannel retail have gained popularity, given how well and often it engages with the customer.
Knowing how much customer retention means to a retailer, this blog will outline the following 5 popular methods for bringing customers back to the store:
- Issuing Marketing Coupons
- Loyalty Programs
- New Collection Launch
- Customer Engagement Events
We will also discover how solutions such as Ginesys cloud POS from Ginesys One suite can help you in the marketing routes mentioned above.
Leverage Coupons for Customers Acquisition and Loyalty
Over the years, coupons have proven to be effective in customer retention. 60% of customers are likely to try a new product if a coupon is offered. Boosting customer acquisition and retention, coupons give a window to experience the product at a cheaper rate. Later, when customers become habituated with the product or see value in its use, customers might be more ready to pay the full price.
Also, given that coupons often come with an expiration date, they create a sense of urgency for the purchase to be made. This urgency is particularly helpful when the brand needs to do a stock clearance.
Worth noting, driving traffic to the product is not the only concern for retailers – customer retention is as important. A study showed that customers who received coupons were 11% happier than those who didn’t. This means that by making customers happy with discounts, coupons also help brands increase the loyalty of their existing customer base.
As coupons attract both existing and new customers, coupons also help in email marketing, which offers a whopping ROI of $36 for $1. This is because for coupon disbursal customers browsing sales avenues such as social media platforms can be asked to provide their email Ids.
Coupons have become even more important in the omnichannel scenario, with omnichannel brands issuing coupons for either immediate checkout for abandoned cart items, or coupons for an exchanged item that can be redeemed online or offline.
Want to issue coupons to your existing and potential customers? One of the most popular features of Ginesys One cloud POS (Zwing) or web POS is the easy issuance and redemption of coupons, or e-vouchers. The solution enables retailers to reach the consumer via SMS, emails, etc. Additionally, offering a safeguard against retail fraud, the solution only allows redemption via OTP in real-time.
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Having discussed the benefits of coupons, in the section of the blog we will discover how promotions aid customer acquisition and retention.
Curious About How to Make the Best of Offers?
Running good offers is much more than clearing inventory faster and having better cash inflows. One of the key benefits of running offers in retail is driving customer satisfaction. However, this effort to boost CX is not necessarily tied to being pocket friendly. In fact, the attraction for deals stems from the fact that finding a good deal gives customers a sense of accomplishment.
A research, in the recent past shows that 40% of customers feel smart having got a good deal. Moreover, the study also showed that 80% of retail shoppers would go out of their way to source a great deal. The figures indicate that by leveraging robust promotions, brands can foster customer loyalty, nudging repeat purchases.
At the same time, by engaging the clients, promotions help increase brand visibility and recall, assisting the brand in staying relevant in a competitive market.
So, given the benefits of promotions, are you looking for a solution that helps you seamlessly carry them out? Here is how Ginesys POS can be instrumental in implementing promotions:
- Both Zwing (Ginesys One cloud POS) and Ginesys Desktop POS have a solid promotions engine, making it easy to run promotions.
- The POS software centrally allocates promotions across stores, allowing constant brand experience across outlets.
- The solution enables retailers to easily implement both bulk deals as well as product-specific deals.
- Ginesys One Cloud POS and Ginesys POS, both are connected to the Ginesys ERP, ensuring that the brand's promotions are well reflected in the final sales figures.
Here is a list a few types of promotions that you can run using Ginesys POS:
- Promotions offering Benefit Value Assortments: These promotions allow the shopper to get a value discount on the bill based on certain triggers.
- Quantity-based Simple Benefit Promotions: This promotion category involves a scenario such as buying certain units of X gets a benefit of a certain percentage off or a certain value of discount in the bill.
- Quantity-based Slab wise Benefit Promotion: With this promotion, retailers can offer increasing discounts or increasing value based on increasing number of units of the triggering item being purchased.
- Value-based Slab wise Benefit Promotion: In this kind of promotion the shopper would get increasing benefits based on the increasing value of the items bought.
Foster Customer Loyalty with Loyalty Points
Over the years, loyalty points have helped businesses retain a steady customer base. Around 79% of customers choose brands that are keen to offer exclusive benefits. From a business point of view, these benefits are only profitable to offer if the chances of overall sales increase. On that note, a study demonstrated that free loyalty programs can increase a customer's spending by 30%. Additionally, an impressive 60% boost in spending can be witnessed when the customers are in a paid program. In other words, not only do loyalty programs serve client needs but they also help ventures.
Apart from spiking sales numbers and fostering brand loyalty in the existing customer base, loyalty programs promote word-of-mouth marketing. About a quarter of customers tell friends and family about their favorite products. Similarly, every week 78% of people share their shopping experiences with their acquaintances. This form of marketing is rather effective as 90% of people depend on recommendations as they try out a new product.
Are you looking to get a solution for implementing a robust loyalty program? Ginesys cloud POS and Ginesys Desktop POS are integrated with the leading loyalty management software. Helping retailers to effortlessly collect and redeem loyalty points, Ginesys POS and Zwing Cloud POS are an effective solution for boosting brand loyalty.
Serving the Customer Needs with New Collection
As companies strive to promote new products, they get a new opportunity to engage the consumer with the brand voice. If a business needs to issue coupons or run promotions for new collections, Ginesys POS would be a helpful tool. This is because, the software:
- Enables easy issuance and redemption of coupons and promotions
- Is integrated with leading CRM that could use transaction history to customize catalogue highlights in the marketing messages
Today leading CRMs and re-engagement marketing tools allow a retailer or a brand to showcase relevant images from a new collection to the shopper based on purchase likelihood via digital messages on WhatsApp, Instagram or other media.
But is this all there is for customer acquisition? The answer is no. Customer engagement events also play a major role in attracting new traffic to the business. Let’s dive in to find out more about the customer engagement events.
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Drive Customer Engagement with Events
A study found that 91% of customers become more willing to buy a product after an in-store or experiential event. More importantly, 87% of customers buy things after the event. Similarly, consider a scenario when customers visit the outlets for an event surrounding a specific product’s promotion. The business gets the opportunity to engage buyers into making purchases of other things as well. Thus, the overall sales of the store spikes with an event.
The Way Forward with Ginesys One POS: Key Takeaways
As the market becomes more and more competitive, here are some common ways you can stay relevant with software such as Ginesys One POS (both cloud POS as well as offline POS). Our solution helps you effectively utilize coupons for customer acquisition and loyalty while also leveraging promotions for increased brand recall. Moreover, fostering continued engagement, the software ensures quick integration with loyalty management software.
We understand further that to keep your customer base strong, you need to keep introducing new products to the stores and host immersive events. Want to know more about how to increase your brand interaction? Contact us, today!