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3 Ways to Grow Your Retail Business with Existing Customers

Posted by Heidi Orpilla on Jul 9, 2019
Heidi Orpilla
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When it comes to operating a retail store or brand, your goal shouldn’t be to stay in business, but to grow your business. Obtaining new customers is a great way to do just that, but no one said doing so was going to be easy: on the chance your market is saturated, shoppers are left with multiple other options and channels to shop the same product selection.

So consider this strategy: did you know you can grow your retail business with your existing customers? Let’s explore three ways to tap into your current customer base to grow sales, and more importantly improve the shopper experience: by offering buy online, return in store, making the customer experience personal, and, simple as it may sound, giving customers a good deal.\

1. Offer Buy Online, Return in Store

Buy online, return in store (BORIS) isn’t just convenient – it’s a wonderful chance for retailers to engage once more with customers. One major benefit of offering BORIS is the additional opportunity to upsell … and trust us, upselling is powerful!

Nearly one-third of all consumers make a sizable impulse purchase every week, with a median price of $30, per this study. Furthermore, according to research by A.T. Kearney, 40% of consumers spend more money than they had planned in stores, while only 25% reported online impulse shopping.

Another benefit of offering BORIS is that it allows for additional in-store branding and a personalized experience to create a positive brand affinity with the shopper. One of the primary, if not the most important, reasons shoppers choose to buy in-store is to see, feel, and experience the product in person, and offering BORIS entices your customers to do just that.

BORIS doesn’t have to be complicated; point of sale software can simplify providing a convenient dynamic for customers. Your retail management solution should allow for painless returns, as well as other features like multi-channel inventory lookup and order splitting between multiple fulfillment points.

2. Make the Customer Experience Personal

When it comes to keeping shoppers happy – and coming back for more – personalization is key. In fact, 87% of consumers surveyed say that personally relevant branded content positively influences how they feel about a brand. And even more impressive, a whopping 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history.


75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history.


So, how can you provide a personalized experience to your customer base? A great first step is by taking advantage of your CRM to create detailed customer profiles. When choosing retail point of sale software, make sure it offers an omnichannel CRM with the ability to connect customer profiles between your online and in-store channels. Doing so provides you with a clear picture of each customer’s shopping/order history, preferences, habits, and more, as opposed to having separate in-store and online profiles. Cohesion is key!

Once you have your detailed customer profiles locked and loaded, consider how to put that valuable information to work. An easy way to do so is by integrating that data with loyalty programs and email marketing platforms. A loyalty or marketing program is only as good as its targeting, and when they are backed by a full customer profile, the sky is the limit when it comes to your personalization and sales.

3. Give Customers a Good Deal

At the end of the day, shoppers want to get the biggest bang for their buck.

Offering enticing deals can be easy with the right tools. First, choose a point of sale software that integrates with coupon/promotion engines, allows you to create coupon codes with specific conditions, and report on them. If you're unable to track the results post-promotion, you're missing out on a real opportunity to see your ROI and fine-tune future personalized promotions. 

It doesn’t stop there, though: You can even promote sales and provide coupons using your point of sale receipt printer! Take, for instance, Star Micronics printers, which offer a value-added tool called PromoPRNT. The cloud-based program allows retailers to print customized promotions from templates directly on the bottom of the receipt, where it’s sure to be seen.

All of these tactics – and more – are sure to create a convenient, customized, and incentivizing experience that will have your shoppers keep coming back for more. All you need is robust retail management software and the right hardware, and the rest is history.

 


Heidi Orpilla HeadshotHeidi Orpilla is the Digital Content Specialist at Star Micronics, a global manufacturer of POS technologies and a leader in retail, hospitality, and more. In addition to loving writing and technology, she enjoys cats, food (of all kinds), and gardening.

About Star Micronics: Star Micronics, one of the world’s largest POS printer providers, has designated a portfolio of printing, secure cash management, and customer engagement solutions for any retail or hospitality establishment in POS and mPOS environments. Embracing the mobility wave, Star’s complementary SDKs allow users to utilize Star printers in tandem with Android™, iOS iPad®, and iPhone® devices to generate receipts for all of its printers. Always leading, and always innovating, Star Micronics enables web-based printing solutions including remote cloud printing, wireless cash drawer solutions, proximity-based printing, and secure cash management.

Star Micronics is the recommended receipt printer & cash drawer provider of Springboard Retail, and we thank them for this guest post!


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Topics: Our Partners, Retail Marketing

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