Last month LoyaltyLion, Nosto and We Are JH brought together some of the leading minds in ecommerce over three delicious courses at London hotspot, Elystan Street. Joined by experts from fashion, apparel and jewellery retailers, we delved into the challenges that weigh most on the minds of those responsible for attracting, converting and retaining customers.
We wanted to share the best practices and strategies that came to light during the evening, from delivering seamless and personalized customer experiences to leveraging behavioral insights and advertising strategies. Keep reading to find out the top five things that ecommerce retailers discuss when they get together over dinner:
Delivering a consistent and seamless customer experience across different touchpoints is key to driving both acquisition and retention, but it can also be a key part of securing longer-term customer loyalty. Retailers are increasingly engaging with their customers in a targeted and relevant way by rewarding activity such as social media advocacy, product recommendations and customer referrals. Loyal customers get rewarded and remain, and customer acquisition increases via an engaged customer base.
Personalisation, and the challenge of delivering individualized shopping experiences remains at the forefront of every retailer’s mind, unquestionably adding value across all channels from website and email to social advertising. The question is not whether or not to invest, but how to do so in a way that utilizes data in the most engaging way. Leveraging the right technology partners is key to creating the consistent and unique experiences that will drive incremental gains across all channels and interactions.
Leveraging transactional data is nothing new to retailers, but behavioural insights should now be top of the agenda, particularly when it comes to informing loyalty strategies. Identifying which customers are loyal and making repeat purchases, and which need winning back, and then using the information available to you to evaluate customer behaviour helps you to understand what customers are looking for at each stage of their purchase journey – from research and discovery to first purchase and beyond.
We’ve all seen the headlines telling us that advertising is dead, however, it remains very much alive, with brands constantly iterating across retargeting and other advertising strategies. Though retailers still have some question marks around where and why their ads are being displayed, more weight than ever is now being placed on understanding how much ROI is being driven, and which publishers and channels that ROI can be attributed to.
Customer relationships are not the only ones that retailers should be looking to build. Other types of businesses could be helping stores to reach wider audiences and a good example of these are Marketplaces. Fast becoming product discovery platforms, marketplaces can help you get your products in front of new audiences, whilst also assisting with other challenges such as stock fulfilment.
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