The retail sector is all about one thing: serving your customers in the best manner possible to ensure you build an ongoing relationship with them to keep them coming back time and again. That’s all good and well, but nowadays easier said than done in a highly competitive market. For those looking for new ways to drum up business and compete with the online pureplays, the team from Eurostop has some insight for you.
Learn here how to expand your base of loyal customers and offer exceptional service every time!
What are the Benefits of Loyal Customers?
Bringing in new customers is great, but one-time sales won’t keep the lights on. That’s why expanding your base of loyal customers is key. Having repeat customers demonstrate their loyalty to your retail establishment can be a great marketing tool, increasing sales through word of mouth and referrals.
How to Understand Your Customers
In order to grow a base of loyal customers, you need to first have a clear understanding of who they are, how they like to shop and what excites them about your brand. There are a variety of different ways you can do this, like performing email and online surveys, one-on-one interviews, telephone surveys, and focus groups. This research will help you resolve any pain points current or potential customers may have, as well as give you the knowledge you need to best engage them.
Understanding your competitors is also a key component of performing market research. You can see your competition by doing some Google searches for products and services related to yours and see what comes up. Then, assess what your competitors are doing. What makes your products and service stand out? Are your competitors doing something you could be doing?
All of these things will help make certain that you offer your customers the very best and make your retail business more attractive to potential customer.
Use Your Retail POS as a Research Tool
There’s another great way to understand your customers and that’s by taking advantage of the big data and tools your retail POS systems are equipped with. A connected and modern POS system can track all customer sales data across locations, even globally, making it the perfect tool for helping to analyse purchases across all channels and geographies. With the right retail POS software, you can understand consumer behavior and determine, for example, how often your current customers are visiting you, what they spend on the items you offer, how successful promotions are and when they’re making purchases, in addition to analysing sales data on a weekly, monthly, or annual basis.
Increase your loyal customer base with a first-rate retail POS!
One of the best ways to keep customers coming back is by investing in a modern and reliable retail POS system. To learn more about how doing so can help your business thrive, contact Eurostop today online or call +44 (0) 208 991 2700.