In this age of discerning and value chasing shoppers, Customer Loyalties can change in a single moment and gaining or retaining loyalty is a marketing warfare. Store is the final frontier where products are given equal opportunities to see, evaluate and choose the brand. Brands can be made or broken in these last few minutes of life span a shopper will give to your brand. It is then highly imperative for the brands to make best use of these last few minutes and ensure that the customers stay loyal. Here are 3 basic strategies, Retailers and CPG companies can look at to enhance customer loyalty.
Know (Insights into shopper and merchandize activity, shopper insights)
Gaining insights on what happens at the store real time with respect to your product is the most fundamental building block of enhancing customer loyalty at the final frontier. You need to know if enough opportunities were provided to the shopper to see the brand and evaluate it. Retailers and CPG companies should look for technologies that can help them measure the number of shoppers who had the opportunity to see their products, the number of shoppers who evaluated the product, average time shoppers spent seeing/evaluating the product and how much of those evaluations was converted to sale. Insights at such a high granularity will help Retailers & CPG companies to determine product affinities, adjacencies and store product placement plan effectively.
Inform (Shopper engagement)
Shoppers have been changing. Not so long ago, shoppers relied entirely on either word of mouth amongst their friend’s circles or on store associates or brand names to collect information about the products. Internet changed all that and information was made available to the shoppers at their finger tips, outside the stores. Now, mobile phones are changing even that by bringing the information into the stores as the shoppers shop. Both Retailers and CPG companies should make bets use of this opportunity to provide invaluable information to the shoppers. Information about products, new launches, promotions, offers, allied products will help in increasing opportunities to cross-sell and up-sell thereby increasing the sales basket size.
Engage (Shopper marketing, mobile marketing)
Mobile technologies are changing the way marketing is traditionally done. Marketers have excellent opportunities today to engage the shoppers real-time through communities and social media networking. Enabling their shoppers to access product reviews, peer reviews, write their opinions, feedbacks and ideas on product usage, co-development etc are few of the avenues that retailers & CPG companies can use to engage with their shoppers more effectively, real time at the store.
If you are attending NRF BIG show, here is an opportunity to know more on shopper marketing and store insights. Do plan to visit our Innovation Station #2171 at the BIG show, our experts in Shopper Marketing and In-Store Marketing will be glad to demonstrate how some of the global Retailers and CPG companies are enhancing customer loyalty at the final moment of truth. You can also schedule a meeting with our experts by mailing Monica_pepicelli@infosys.com or visit us at room #1783 for live interactions.