Welcome to 2015! Are you all enjoying your hoverboards, jet packs, and robot butlers that every movie about the future has told us would be here by now? With every new year comes new predictions about the next great thing.
At NRF’s Big Show in New York City this month there was no shortage of great ideas and technologies to help retailers engage with their customers in new, exciting ways. With all of these possibilities, what will be your biggest initiative to drive revenue this year?
- Launching a drone home delivery program that complies with FAA regulations
- Developing a robust demand generation plan to encourage customers to buy on their new iWatch
- Improving online engagement for new and existing customers who shop my products
While it isn’t going to make the cover of Wired magazine, you should strongly consider #3 as your biggest initiative for 2015. The retailers who continue to improve the online experience for their customers will see increases in customer satisfaction, loyalty, and sales. While it’s important to be aware of the latest technology trends like wearables and beacons (and drones?) and how they may impact your business, it’s more important to improve the experience for your current customers and those who will be shopping your brand for the first time this year.
One of the key (and much discussed at NRF) areas of focus is Personalization. Customers want you to recognize them when they shop with you and are increasingly expecting you to provide recommendations, shopping history, “exclusive” deals, etc. to provide a more complete experience. Creating a differentiating store experience will encourage your customers to shop based on attributes other than price, leading to stronger loyalty and driving word-of-mouth to new customers.
In fact, FitForCommerce will be publishing our first Annual Report, on Personalization, in the next month. Here’s a peek into what our retailer survey taught us:
Written by: Karen Greenberg, SVP Sales, FitForCommerce