What Does It Mean to Be Customer Centric?

Virtually all retailers understand that long-term success is only possible with happy, fulfilled customers. But what does it take to be truly “customer centric”?
Consider the following slideshow from Raymark (empowering retailers for 25 years with technology solutions): 
“As our physical and online environments continue to come together, consumer behavior  keeps changing and retailers need to react. Today’s consumers are extremely connected and live a digital lifestyle. They are educated, expect speed, and have become extremely demanding. With an overload of mass marketing, some customers have lost trust in retailers and have become less loyal.”
“In this guide, we will take you through the 10 commandments that every customer-centric retailer needs to follow in order to increase loyalty, new customer acquisition, visit conversion, transaction value and to optimize marketing and customer engagement costs.”

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer, Strategy Mix | Tagged , , , , , , , , , | 1 Comment

How Well Are You “Courting” Your Customers?

As we know, in today’s competitive environment, we cannot take our customers for granted. We need to continuously “court” them and have them feel appreciated.
Consider this observation from Oracle Marketing Cloud:
“From the need to meaningfully nurture to the demand to delight and impress at all stages, a lot goes into building the relationships with your customers. Sometimes marketers need a little help finding the inspiration to engage, because it’s not just about sealing the deal, but keeping your customers consistently content, just like your significant other! We’ve compiled key questions that you may likely be asking about your marketing efforts. Because in marketing, flowers and candy simply don’t cut it.”
Check out Oracle’s slideshow on this topic.
 
 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer, Social Media and Retailing, Strategy Mix | Tagged , , , , , , , | 1 Comment

Do Better in Dealing with Negative Online Reviews

Negative online reviews can have a devastating effect on businesses — unless they are handled properly.
Here are some suggestions from Konnecti, a company that helps clients build their online presence.

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , | Leave a comment

Revisiting Steve Jobs at Stanford: One of the Greatest Commencement Speeches Ever!

At this time of college graduations, take a look at one of the gold standards of commencement speeches — Steve Jobs’ 2005 speech at Stanford. It is truly inspiring and has been viewed more than 22 million times at YouTube.
There are great lessons for us all.

 

 

Posted in Career Video Clips, Careers in Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional | Tagged , , , , , , , , , , | 1 Comment

Fitting Rooms Go Digital

As we have reported before (see, for example, 1, 2, 3), many retailers have hopped on the digital revolution.
Now, we are even seeing digital fitting rooms. Niki Blasina reports for the Wall Street Journal that some retailers are deploying “video screens in lieu of mirrors, and giant touchscreens and text messages to keep customers engaged. Retailers like Neiman Marcus and Rebecca Minkoff are adding technology to fitting rooms in response to online shopping.”
Take a look at the WSJ video synopsis.

 

 

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer, Technology in Retailing, Video Clips (non-career) | Tagged , , , , , , , | 1 Comment

The Pre-Millennial and Retailing

Pre-millennials are those born in the 1980s and 1990s. This group is an important one for the future of most retailers.
BearingPoint has done a lot of research on this market segment. Take a look at an infographic and a YouTube video the firm has prepared.

 

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing, Strategy Mix | Tagged , , , , , , , , | Leave a comment

An Infographic Look at Social Media Marketing in 2015

As Kristy Schnabel reports for It’s Virtually Done:
Social Media Exam­iner is the largest online social media mag­a­zine. At their event — Social Media Mar­ket­ing World (#SMMW15) — they promised that we would ‘rub shoul­ders with the biggest names and brands in social media, soak up count­less tips and new strate­gies and enjoy exten­sive net­work­ing oppor­tu­ni­ties in San Diego, California.’ Founder and CEO Michael Stelzner deliv­ered and then some! With his able team of hun­dreds and the spec­tac­u­lar venue the Grand Hyatt, Team #SMMW15 gave us an unfor­get­table, stel­lar event shar­ing amaz­ing con­tent that we can all imme­di­ately imple­ment. Oh, and there was a ton of fun too.”
Click the link above to read Schnabel’s social media marketing lessons.
Below is an infographic prepared by that summarizes Schnable’s 25 key points.

Posted in Online, Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing, Strategy Mix | Tagged , , , , , , , , | 1 Comment