The retail industry is more than ever a bustling ground. Sales are on a constant hike as innovations in various fields are unfolding at high speed. If you want to engage yourself in the retail business and benefit from a high Return on Investment (ROI), you need to consider the ten major Cs that are highly impacting on multiple facets of the industry.
The ten Cs that can lead you towards success
Whether you are initiating a retail business or you are already a player, you need to adapt according to constant changes and innovations folding out in the sector. Understanding the following ten Cs will help you make wise decisions and best use of tools and techniques available at hand.
In the United States, almost 30% of all e-commerce sales in 2015 can be attributed to mobile commerce. Indeed, this type of business model has not only infiltrated the B2B industry but has already invaded it completely. And social messaging apps are no doubt the key factor behind this shift. It has become way too easy to make a purchase with a few clicks and seeing the desired product already landing into the delivery process. 73% of customers report being satisfied with live chat as a customer service channel. Facebook Messenger is equally being favored as it is successfully promoting conversational commerce as per customers’ likes.
Coverage on search engines
You will get nowhere if you fail to optimize your website by adhering to search engine standards. It is not an unknown fact that Google has become part and parcel of research before any purchase. Kissmetrics have come up with statistics supporting this argument: 30.5% of all traffic is attributed to organic searches primarily on Google, Bing, and Yahoo. Online retailers are not blind to this tendency and are being proactive to adopt strategies to boost their Search Engine Optimization (SEO) and gain visibility and consequently increase their chances to get more clicks and sales.
Generation Y consumers are not going to rely on the trusted word of mouth about a retailer. Highly thirsty for details, video reviews, and social proactivity, they turn more eager to make a purchase when these elements are present. E-retailers have realized this need and those who have managed to adapt by providing content rich experience are indeed enjoying enormous profits out of it.
Commandment in UX
To gain massive profits, think about making your website well-commanded with its UX. It has been proven that user experience is a key factor determining sales for any brand. As such, the majority of e-commerce websites are now based on conversion centric web designs, without failing to implement call-to-action features. Certain statistics even hint that every $1 dollar invested in UX can bring up to $100.
Cater for the omnichannel consumers
Buyers are now having recourse to multiple channels to make purchases. And to enhance customer experience retailers are being urged to opt for a seamless omnichannel business model. They have equally understood that it is easier to hook a customer by offering multiple channels than a single one. Giants like L’Oreal, Starbucks and Macy’s are good examples of businesses performing great under this system.
Customized email marketing
A report by CampaignMonitor.com has concluded that users are 26% more likely to open an email if it bears a personalized subject line, compared to one that does not. Customized email marketing is considered as one of the best channels for customer retention and it delivers the highest ROI for marketers and businesses with a 760% growth rate.
Cooperative customer support
Cooperative customer support has a direct impact on ROI. Customers expect a timely response to queries and social media, live chat, emails and phone calls are viewed as the best tools for customer support. A study by Desk.com puts forward that 78% of customers believe that social media will be the next major category of customer service. 46% of customers using online apps expect businesses to offer customer service on Facebook. In the same vein, 88% of customers stated they are less likely to deal with companies who leave complaints on social media unanswered.
Retailers are aware that holiday seasons and festivals are big occasions not to miss because the purchasing habits of customers are at their peak. Most businesses prepare customized marketing campaigns for each holiday or festival by offering deals, discounts or free giveaways to attract the maximum of customers.
Content for media houses
E-retailers know that media publishing is a great strategy to get featured. Indeed, news websites and online magazines are considered as being the most authoritative and trustworthy source of information. Getting your brand published in such a magazine or news website will systematically drive traffic to your website.
It is a fact that consumers are more than happy to get deals and discount coupons in view of saving money. Businesses use this strategy to invite customers to try their products and in the same breath, seize it as an opportunity to acquire new customers and making existing ones return.
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