Increase Repeat Business with Retail Management Software
28 September 2012
Improving customer relationships and customer retention is vital for business growth. And why wouldn’t you want to retain these customers? These customers already know your business and the products offered. They’ve already (hopefully) had a positive experience with your business and if they haven’t had a positive experience this is a chance to change their experience!
For businesses looking to improve the bottom line they
should be looking at ways in which to increase customer relations. Retail management
software is one such way that helps to prevent customer relationships
falling to the wayside.
Improving customer relationships and customer retention is vital for business
growth. And why wouldn’t you want to retain
these customers? These customers already know your business and the products
offered. They’ve already (hopefully) had a positive experience with your
business and if they haven’t had a positive experience this is a chance to change
their experience!
Previously there has been a data scarcity but now with more
ways to track customer interactions and purchases businesses have an abundance
of data at their fingertips. This data is often not being implemented correctly.
By using relationship management software data can be segmented allowing for effective
analysis; helping businesses to find new and more effective ways to do
business.
Did you know that returning customers spend an average of 67% more than new
customers? They are also 6 to 12 times cheaper to market to. It is therefore
prudent that businesses have the tools available to track these customers and
create positive experiences that make them want to return.
Retail management software enables businesses to improve marketing tactics to
these valued customers.
Amazon found that it was able to increase sales by 30% by
up-selling and cross-selling to existing customers. By tracking the previous
purchases of customers you can entice them to return with complementing
products, or products that match their tastes. Having relationship management
software in place allows you to track purchase data for customers allowing your
business to better market to active customers and entice old customers to
return. By analysing the data stored in your CRM software businesses can also
discover what works in targeting customers. Relationship management software enables
businesses to analyse data on customers past buying behaviour to create better
experiences.
Furthermore research shows that 50% of existing customers
who are targeted online for a particular purchase will buy it offline. Retail management software helps create better
marketing campaigns that drive sales.
By creating a better relationship with existing customers you can transform them
for occasional customers to loyal customers to brand ambassadors who regularly
endorse your business to friends and associates.
To find out how retail management software can help improve your business contact
Consult CRM and ask about their CRM
implementation services.
