Cashing In: Merchandising Strategies to Increase Customer Loyalty and Engagement

As a retailer, your job involves a number of complex moving parts. Having every aspect of your store run smoothly can be a major challenge - and this doesn’t even take into consideration a plan for improvement. When it comes to customer loyalty and customer engagement, the best way to improve is by beefing up those merchandising strategies and making people even happier.

Some of these may seem like pretty common sense advice, but the reminder won’t hurt.

Firstly, start with a plan - don’t dive right into the deep end and expect results to float right to the top with you.

On the store floor, create displays that pair like items, or create a theme to encourage more interaction and sales. Take advantage of seasonal opportunities - summer is a big one and it is right around the corner! Pull on those heartstrings - create an emotional connection and consumers will feel a sense of attachment.

Experiential marketing is another great tactic, especially coming into the summer, to get customers thinking about what you are offering and to create a connection as well as to engage. For example, think about BBQ season and everything that comes with it - major upsell opportunities here.

People make a difference - you know this. Hiring the right employees, those who can demonstrate knowledge about your brand, and who display dedication and a commitment, are the ones who will be recognized by shoppers. This can help build a relationship with a customer when shopping, and encourage loyalty. That being said, when it comes to your busy season, or even those odd days that require extra staff, hiring a handful of employees might get the job done, but a merchandising company that offers people support can get the job done quickly and efficiently, so this might be an alternative to consider.

Keep the store clean. Another common sense tip, but we mean clean, organized and well stocked. Customers notice everything, really, and if they feel uncomfortable this registers and can impact their choice to return. Empty shelves have the same effect - think about the big box retailer that recently vacated Canada after just 2 years in business…

Perhaps not technically a merchandising strategy, but one that belongs on any customer engagement and customer loyalty list, is social media engagement. If customers are talking on social media, respond - never ignore a review, whether positive or negative. Engaging online shows your customers that you care and are committed and this goes a long way towards building customer loyalty.

When it comes to customer loyalty and engagement, merchandising strategies can go a long way towards improving your numbers. Want to get a plan in place? Call Storesupport today at 1 877 421 5081.

Forbes: Brands with the Most Customer Loyalty

We are all well aware that customer loyalty is critical in every aspect of the retail world - last week we even discussed it with regard to the social online environment - but some undeniably do it better than others. Forbes’ recent article “2015's Brands With The Most Loyal Customers” demonstrated this by giving us a look at those top brands that have managed to beat out the competition when it comes to customer loyalty.

Check out the Forbes article here http://www.forbes.com/sites/robertpassikoff/2015/02/16/2015s-brands-with-the-most-loyal-customers/.

This list, actually called the Customer Loyalty Engagement Index, done annually by Brand Keys, is created by rating brands based on their ability to meet customer expectations compared to the competition. A total of 540 different brands, in 64 different categories, were analyzed. What kinds of categories are we talking about here? Everything from airlines to fast food restaurants, car manufacturers to hotels, search engines to insurance.

So what do these brands have that you don’t, besides a spot on the list? Brands that top the list are those that do a number of different things, really, really well.  Check out the list here: http://brandkeys.com/portfolio/customer-loyalty-engagement-index/.

According to the article, “In a marketplace where brands struggle to create meaningful differentiation and engagement, those who can able to identify customers’ expectations and address them via authentic emotional values, will see tangible bottom-line results, which come in the form of higher engagement power, more loyal customers and, axiomatically, greater sales and profits.” Clearly brand identity is intrinsically linked to customer loyalty, as the brands on the list have come to recognize.

Since consumer expectations seem to grow every year (according to the Forbes article, customer expectations increased by 28% this year), brands need to continually recognize and adapt, making new expectations a priority alongside traditional ones.

If you need to revamp your customer service and customer loyalty strategy, Storesupport has the tools to help. Give us a call today at 1 877 421 5081. 

Social Customer Service - Building Loyalty One Click at a Time

In any retail environment, good customer service is the key ingredient in the recipe for success. Providing customers with a positive experience in store is crucial in building loyalty and keeping it. Fully stocked shelves, reasonable line ups, and knowledgeable staff - these are all things that go into providing that service that stands out.

However, customer service in store is no longer the only service you need to worry about. Social customer service - or the service you provide in the online social sphere - has become as important as the service you provide offline.

Want to know how and why it is so important in building loyalty? Check out this great infographic from The Drum:

According to the infographic, “by leveraging social engagement, you can build brand loyalty and turn users into advocates,” and we wholeheartedly agree! 

Here are some stats from the infographic that may just make you rethink your social customer service strategy:

• 33% of customers would rather contact a company through social media/online than over the phone.
• Over half of all social media users will engage with a brand several times a month, and 9% will engage daily!
•  42% of Twitter users expect a response to an inquiry within one hour.
• 70% of those helped through social media returned to shop in the future.
• 71% of users who have a positive experience via social media will recommend that company.

Think about it this way, if you have the chance to right a wrong online, why not take it? Ignoring a negative review or not responding to a question via social media can mean lost sales, and not just from that one customer. On the other hand, responding quickly and solving a problem shows customers that you genuinely care about their business - a sure way on the road to building customer loyalty.

For more about in store and social customer service please contact Storesupport Canada today. We have the strategies that yield real results. Call us at 1 877 421 5081. 

Marketing to Baby Boomers: Closing the Generation Gap

We all know that not all shoppers are the same, so why, when it comes to age, do we market to them as though they were? In the retail world, as with almost every industry, the generation gap has created quite a stir in recent years, but surprisingly a fair number still refuse to acknowledge that age matters.

If you’ve come to realize that your marketing needs an overhaul, but find that most advice tends to cater more to a younger crowd (read: Millennials), you are not alone, but we can help. Check out this great article from Magic Online: http://magicblog.magiconline.com/content/4-ways-to-market-baby-boomers-2015.

The article, “Four Ways to Market to Baby Boomers in 2015,” gives some great information about why and how to market to baby boomers.

The why? It is simple; according to the article, over the next several years, “it is estimated that the Baby Boomers population will more than double to 161 million people. Right now, less than 5% of all advertising dollars are spent on Baby Boomers, a large, growing, wealthy and winnable demographic.” Do you really need a better reason? We doubt it.

The how? Here are the 4 tips:

1. Know that Boomers are tech savvy - get rid of the notion that only Millennials are using their devices to shop, compare, read reviews.
2. Target Boomers, but don’t ignore everyone else - in your effort to capture these consumers, don’t then alienate other groups.
3. Stay transparent and recognize that trust is everything - Boomers are as loyal as they’ve always been, but this comes when they trust a brand. Ignore this fact and lose their loyalty. 
4. Don’t market to them as if they’re old - they are well aware of their age, but no one wants to be reminded of the fact that we are aging.

Finally getting the picture that marketing to Baby Boomers specifically is a need that can no longer be ignored? Use these four tips to create a strategy that meets their needs, and therefore yours.

For more about targeting and marketing to Baby Boomers, please contact Storesupport Canada today. We’ve got you covered when it comes to the generation gap in retail: 1 877 421 5081.

Fix it Quick: Managing Product Recalls

When you manufacture and distribute a product, there are a number of challenges - we all know this. The choices you make, from design stage, to distribution channel, to location, all impact your bottom line and ultimately how well your product performs. When it comes to emergencies- we are talking here about product recalls - these decisions become even more important, as a poorly handled product recall can impact not only your sales, it can cause often irreparable damage to your brand’s reputation.

Product recalls happen all the time, often for unforeseen reasons, and this is why having a strategy in place to manage this challenge is so essential.

How you approach the management of a product recall will largely depend on the type of recall you are dealing with. For example, a product found to contain something that is a known health hazard requires a very different process than a recall regarding an allergy alert.

With a health hazard recall, product will need to be removed from the shelf immediately, shipped back to the warehouse or directly to Health Canada and examined or destroyed. New, uncontaminated product will need to be sent out and restocked. This needs to be done very quickly in order to avoid lost sales and a damaged reputation. That being said, there is very little wiggle room when it comes to a health hazard recall, as removal is the only option.

Many believe that this is also the case when it comes to labelling issues, ingredient discrepancies and allergy alert product recalls, and assume that product needs to be removed from the shelf, sent back to the warehouse, relabelled and then shipped back to the store. This process is both costly and time/resource consuming. And it isn’t necessary.

What do we mean it isn’t necessary? Well, if there is nothing wrong with the product, and just the label requires attention, why spend money and time shipping the entire batch back to the warehouse? Instead, bring in a team with the experience dealing with product recalls to quickly re-label all product. Makes sense, no? That way, time is not spent with empty space on the shelf where your product should be (meaning no lost sales as a result) and money is not spent shipping product back to the warehouse to do what can be done in store.

So how do you manage product recalls properly? No matter the case, it needs to be handled quickly, but just make sure that the decision you make regarding the process you choose is the most cost-effective and defensive.

Storesupport’s emergency response services can ensure that your product recall is handled effectively and efficiently. Call us today to set a plan in place: 1 877 421 5081.

E-Commerce Impacts - Online vs. Bricks and Mortar

Over the last few years, the impact e-commerce has had on the retail world has been a constant topic of discussion. The competition caused by the growth of online shopping has led to the development of a number of different strategies for bricks and mortar only locations, as well as those offering both the online and bricks and mortar experience.

Check out this great article from the Globe and Mail, “Retail reboot: How e-commerce is forcing an industry transformation”: http://www.theglobeandmail.com/report-on-business/retail-reboot-how-e-commerce-is-forcing-an-industry-transformation/article21602870/?page=all.

So what are these impacts? The article starts by discussing a recent big box store’s decision to change up the footprint of a new store - making it far smaller but with a bigger storeroom to accommodate online orders. This represents a strategic shift in dealing with e-commerce impacts.

However, is it just an online vs. bricks and mortar game? No. Just last year several big name previously online-only retailers turned the tables by setting up physical locations. Others are encouraging those who shop online to pick up in store. These changes speak to the importance still held by the customer experience and the desire for options on behalf of the customer.

So what do these impacts mean? Overall the changes reflect the need to meet constantly evolving consumer demands - now a harder task than ever. The challenges of keeping up appearances, keeping customers happy, and keeping customers loyal, have become much harder than they used to be.

Concerned about how to implement these changes or others without impacting your customer experience? The online and bricks and mortar game is complex and requires a certain finesse, but there are ways to combat those challenges and come out on top.

Storesupport has a suite of services to meet your needs, from people support to merchandising - call us today to find out more: 1 877 421 5081. 

Retail Intelligence - Are You Data Savvy?

In the retail world, maintaining control is critical, especially for brands with products listed at retail. Since you are leaving those products in a retailer’s hands, it is important to keep in touch with what is going on, how these products are preforming, and if they are not, why this might be. This is where retail intelligence and being data savvy come in.

Being data savvy means knowing exactly what is happening on the floor thanks to retail intelligence. For brands, retail intelligence, essentially, means gathering information on a number of different things in order to keep you informed. This is accomplished through a number of different means, primarily a retail audit.

What can retail intelligence tell you? Here are just a few examples of how top brands use retail audits to stay on top of their retailers:

What are your competitors doing? A retail audit is a great way to find out how your competitors are behaving. Where are they located on the shelf? How much shelf space do you have compared to these brands? What is their brand messaging and how are they displaying it? Are they running a promotion? What is their price point? All of this information can be used by you to improve your own merchandising.

What about your own promotions? Are your promotions on the floor, where they are supposed to be? Are displays well stocked, and stocked with your product only? Don’t spend all that time planning a promo only to see it fall far below expectations thanks to someone else’s actions. 

What are your retailer’s employees doing? This is another important aspect of a retail audit. For example, visible promotions are not very effective if shelves are empty, or if employees are unaware of the location of your product or can’t answer questions about it. Are store staff endorsing your brand or ensuring planogram compliance? All really important questions you need to know the answers to.

A retail audit serves two purposes - both essential to your bottom line. Firstly, a retail audit is preventative in that it ensures things are running smoothly and efficiently, and can allow you to monitor how well things are working and effectively make changes when desired. Secondly, it is corrective, since an audit can not only reveal what is working well, it can also reveal what isn’t working quite as productively.

So, are you data savvy? Missing crucial information can mean big issues - do you know what is happening on the store floor? To find out, please call Storesupport Canada today at 1 877 421 5081.