Sure, attracting new customers is important for a brick and mortar retailer. But perhaps even more important is getting your existing customers to stick around, especially when you’re up against the Amazon’s and Walmart’s of the world. There’s also a lot more to be gained than you might think from establishing a loyal customer base. For instance, according to a study by Bain & Company, increasing customer retention rates by only 5% can boost profits by between 25% and 95%.
So how do you build brand loyalty and keep your customers coming back?
The answer? Build a better experience. Think about Amazon, with its “related to items you’ve viewed” feature and “inspired by your shopping trends” product displays. The online marketplace knows its shoppers better than they know themselves, and the homepage to checkout journey is getting shorter and shorter.
In other words, the products you carry — no matter how high-quality or low-priced — aren’t going to be enough to keep your customers around when your brick and mortar store is competing with online industry giants. In fact, a Salesforce study found that 80% of customers now consider the experience a business provides to be as important as its products and services. You need to sell the experience, which means giving your customers a personalized shopping journey that anticipates their needs both inside and outside your store.
With a Swiftly-powered app, you can drive brand loyalty by offering your shoppers a customized grocery store experience. You’re able to guide them through the planning, purchasing, and post-purchasing stages of the grocery loop by providing personalized promotions, coupons, and ideas. Why is this important?
Eliminating “the paradox of choice”
The paradox of choice suggests that while we might think having endless options presented to us would make choosing one of them easier, it actually has the opposite effect. When customers have too many product choices in front of them, it actually makes it more difficult — anxiety-inducing even — to choose the one they want.
Therefore, presenting shoppers with specific, personalized product suggestions increases the likelihood that they’ll make a purchase — while making their shopping experience easy and stress-free. A Swiftly-powered app uses state-of-the-art technology to collect first-party customer data, allowing you to show customers tailored suggestions based on past purchases and product pages they’ve visited. Not only will this help you drive sales, but your shoppers will keep coming back for more.
Salesforces’ study also found that 66% of customers expect companies to understand their unique needs and expectations, yet another 66% say they’re treated like numbers rather than humans. Being a retailer that treats your shoppers like humans will be key in driving customer loyalty.
Shoppers want to be seen and heard as unique individuals, not just sales statistics. They want you to know that they’re vegetarian or gluten free, and they want you to give them a shopping experience that reflects that. A vegetarian shopper who is consistently shown deals on rotisserie chickens is going to buy their groceries elsewhere. But a vegetarian shopper who is alerted to a two-for-one deal on their favorite brand of chickpeas? They’ll stick around.
Making shopping faster and easier
Perhaps above all, customers want their grocery shopping experiences to be quick and frictionless. When they’re popping into your store to grab dinner ingredients or toiletries, they want to be in-and-out. They don’t want to eat up time wandering the aisles or waiting in long check-out lines.
With a personalized platform, you can give your customers the efficient shopping experience they crave. An app powered by Swiftly allows you to offer in-store navigation that takes them straight to their favorite products, data-driven suggestions of products they might need, and easily-scannable digital coupons that enable your shoppers to stride seamlessly from entrance to exit. They’ll be out — groceries in hand — with plenty of time to make it to their next destination.
The bottom line is that shoppers want to be recognized as more than just shoppers. They want to feel like their grocery store knows them, and they want an easy and direct closed-loop shopping experience. This is what will keep them loyal to your store.
To learn more about how to provide a personalized shopping experience that will drive customer loyalty, contact Swiftly today.