Customer loyalty and omnichannel strategies

03/06/2020

Angela de la Vieja

Omnichannel strategies go beyond having a presence on all channels to reach your audience. This is a resource that allows you to optimise the user experience thanks to the integrated work between the channels, which complement each other to offer a better shopping experience and to strengthen both online and offline relationships.

The consumption model from two decades ago is very different from the current one. In the past, the consumer would go to one physical store, buy a product, and that was the end of it. Nowadays, if a customer starts the purchase process on one channel, they don’t necessarily have to finish it. They can continue and complete their purchase on another channel and their experience won’t be harmed in any way. In fact, this flexibility and convenience will create a unique shopping experience, which is possible if you’ve already established an omnichannel marketing strategy.

While it’s clear that omnichannel experiences use multiple channels, not all multichannel strategies are omnichannel. If they are, they must be integrated so that they operate together.

Why is this so necessary nowadays?

The new consumption model, an increasingly demanding consumer profile, and the rising competition in the market are all compelling reasons that have led many companies to resort to an omnichannel strategy to facilitate their users’ purchasing process, improve brand satisfaction, and build customer loyalty.

An omnichannel strategy to build customer loyalty

One of the main objectives of an omnichannel strategy is to earn customer loyalty. Using different channels will result in more personalised interactions with the user, helping improve their perception of your brand. In addition to being able to acquire your products through different channels, the user will see that you can solve their problems through any platform, harmoniously. Example: a user buys an object in a physical store and has a problem with it. They contact the store through customer service, who will make it easier for the user to return the product without needing to leave their home, thus creating a barrier-free shopping experience. As a result, this improvement in the user experience will have a positive impact on the return on investment. By using different communication channels, traffic will increase and your sales opportunities along with it.

In short, a brand or retailer offering online channels to interact with the client isn’t a novelty. Rather, it’s a requirement if you want to survive in such a competitive market. Despite the current popularity of the term, this strategy is still relatively new and could be what your business needs to outperform the competition.

11/11/2022

Consumer behavior: How can behavior tracking be effective for setting the right pricing strategies?

Behavior tracking is becoming massively popular today. As a result, pricing strategies born from studying consumer behavior are a merchant's dream come true. If done right, it can conquer every market for the business quickly. With abundant data available, the strategic makeover of the pricing models is becoming easy for companies.

What is behavioral tracking, and how is the data beneficial in pricing?

For a quick understanding, behavioral tracking refers to gaining in-depth knowledge and insights into consumers through their web data. Their browsing habits, spontaneous decisions, shopping interests, and preferences come under behavioral tracking.

How can enterprises use customer behavior data?

Companies can use customer behavior data as a tool to strengthen their hold on the market. A customer’s preferences, values, and tendencies allow businesses to work in sync with them through the collected data. Apart from this, customer behavior can also aid in:

Tailoring customer needs for customer retention

Personalization is becoming the heart of a company’s growth. No matter in which area an enterprise is functioning, tailoring the services, products, and solutions is becoming increasingly crucial. Uniqueness and personalization attract the crowd like no other.

Increasing the overall value

One of the best ways customer behavior data affects a business is by upgrading the value of customers for the business. The customer’s characteristics allow the company to target the people that match the business prospects well.

Optimizing every type of content

Everything that is up for digital display requires content. You must have seen companies unveiling their products or services through advertisements and making the initial public appearance. Two essential sales strategies – upselling and cross-selling comes through content optimization.

Pricing Strategy

Last but certainly not least is the influence of customer behavior data on the pricing strategy. The pricing strategy essentially constitutes content derived from data analysis. Companies need to have a dynamic approach to the pricing system to attract the right customers.

17/02/2015

Saint Valentine’s Day, always a good opportunity

V-Day is looming, a long-awaited date for all and also a good occasion for the eCommerce. According the study conducted by Prosper Insights and Analytics, it is forecasted the average consumer expense that day will be the highest in last years. Furthermore, 25% of them will buy online, which means an increase of 4% regarding 2014 (The US department of Commerce). This is, therefore, a key date where market competitiveness increase and which could be assumed as a big opportunity for our business or, a big fail if we do not adopt the correct strategies.

How to turn this event into an opportunity? To achieve this goal, we need to adapt our prices to this hostile environment, i.e. we need to develop an appropriate Dynamic Pricing strategy that allows us to adapt our prices to the variations produced in supply and demand and to position us ahead of our competitors. In V-Day, the frequency in changes will be higher, carrying it out each hour or even each minute. It is estimated that 65% of leader retailers have the ability to respond quickly at these variations, such Amazon. For this reason, it acquires great importance the correct use of a software specialised in price motorisation of competitors. Do not miss the time and adapt your business to new adversities.

28/12/2022

Which are the best footwear marketplaces to sell on?

Footwear marketplaces are booming. The last decade has seen the launch of new specialized marketplaces with millions of different users. Among them are Spartoo, Sarenza and Farfetch, portals with international reach. Their main value is that they unite hundreds of footwear brands, as well as offering clothes and accessories. Although each has its own characteristics, they are all vertical marketplaces, i.e., they focus on a specific area, and their sales categories are interrelated. For sellers, these portals provide an opportunity to expand sales channels and drive the globalization of their e-commerce business. We explain how to sell on these footwear marketplaces so that you can assess whether they align with your plans for the future and then start defining a possible pricing strategy.