Sales Strategy

Practical Strategies to Future-Proof Your Customer Engagement Strategy in Retail October 11, 2024 (0 comments)

Poznań, Poland--Customer engagement is essential for retail growth, significantly impacting sales and long-term loyalty. A report by Gallup—highlighted in Netguru—states that fully engaged customers bring a 23% premium in profitability and revenue.

[Image via istockphoto.com]

To replicate this, retailers must understand and implement strategies to build strong customer connections. The article highlights some ways to do that:

1. Create a Consistent Brand Voice

A clear brand voice fosters connection and reinforces brand identity. Nike's consistent messaging and ecosystem of products have led to growth in customer engagement and membership.

Aligning communication across all customer touchpoints ensures a unified experience, strengthening the brand's image and customer loyalty.

2. Leverage Data for Strategic Decision-Making

Data-driven strategies allow personalized marketing, accurate inventory management, and better customer experiences. Yet many companies struggle with effectively using data.

Adopting a DataOps framework can optimize data usage by promoting data literacy, automating processes, and integrating sales with supply chain information.

This approach helps businesses make informed decisions that enhance engagement.

3. Focus on Creating Memorable Experiences

Modern consumers value engaging experiences over discounts. In markets like China, luxury retail has shifted toward social and exploratory shopping. Livestreaming events, which blend entertainment and e-commerce, have proven highly effective.

For instance, James Harden's livestream promotion, as highlighted in the article, sold 10,000 wine bottles in 14 seconds, showcasing the potential of experiential retail strategies.

Check out the entire article in Netguru for more of these strategies.