What are the most innovative customer retention strategies used by successful retailers?

By far one of the most undervalued and easy personalization tricks seasoned marketers do is a happy birthday email. Probably the highest open and click rates, if done right.

The more you make that customer feel you remember them and that you make it easy for them that will reduce friction and help to convert

Personalised customer experience not only retains the customer but also builds brand loyalty & trust which in turn helps brand to achieve their targets with minimum acquisition cost.

Successful retailers innovate customer retention by personalizing experiences. Utilizing data, they tailor recommendations and offer exclusive perks through loyalty programs. Amazon's Prime exemplifies this with personalized suggestions and fast deliveries. Interactive channels, like personalized emails, deepen connections. Stitch Fix stands out, leveraging data and feedback to deliver personalized fashion selections. Integrating data insights, incentives, and interactive communication fosters a unique, engaging experience, building lasting customer loyalty.

Make customers feel special. Listen to Sam Walton. “...give customers more than they expect. Exceed their expectations”. Shopping is a pain. So many decisions. Let’s innovate and make shopping easier. Example. Free paper bags have been offered since the 50’s and plastic began in 1982. Then bags get yanked away. Front end staffers hear “About time” or "This is B.S. What a hassle!" I look to Sam Walton again. "Give the customer more than they expect” Replace the plastic bag with a reusable one, then give them more. A simple and convenient way to use it. Our product The Joey Pouch does that. Exceed your customer's expectations and create a long lasting positive impression. Worth a try? Want to hear more about our Joey Pouch. Please write.

Loyalty tends to break in areas not traditionally under the control of Marketing. In-store or call center experience can sway otherwise committed customers. Cross-pollination and collaboration with those departments is a non-negotiable.

A standout tactic involves crafting engaging loyalty programs. Social media plays a pivotal role as well. Brands such as Glossier actively engage with customers online, creating a sense of community by responding to feedback and sharing behind-the-scenes content. This personal connection transforms customers into brand advocates. Gamification is another trend gaining traction. Starbucks, for example, uses a gamified loyalty app, rewarding customers with stars for frequent purchases. This not only retains customers but also transforms shopping into a fun and rewarding. In essence, the feeling of exclusivity, personal connection, and gamification forms a potent mix for building a loyal community in the ever-evolving retail landscape.

I recall my mentor saying it was the quality, not the quantity of customers you had when selling merchandise. Building a loyal community has never been easier. With all the social media platforms available, you can display new merchandise along with photos of people wearing the outfits to give them a personalized touch.

The best customer service is proactive, and happens before an issue occurs. Fundamentally, 2/3 of major issues with an order that impact the brands retention has to do with a bad promise of inventory made to a consumer - The 'bandage' of great CS is important, but should be managed as exception not as a cost of doing business.

One of the most important pillar to build an effecitve loyalty program is generating and consolidating the data. 1st it's a technical mather to be integrated with the solution that provides data (usualy the till) 2nd You'll need to be able to identify the customers 3rd You'll have to cross the transactional data together with the identified client 4th You'll then be able to segment your database based on behavioural, transactional data

Know your customers, delight and pamper them, but avoid becoming a nuisance. In a world saturated with ads and newsletters, it's crucial not to overwhelm. Sending excessive emails, especially after a customer subscribes, is a big no. It's disheartening to find that the 'unsubscribe' button on some major brands simply doesn't function.

Customer service is by far the most effective option. When a customer feels acknowledgement when they arrive, warm sincere efforts to assist them, and appreciated upon final sale. It is guaranteed they will return no matter what challenges arise. A customer wants to feel valued, and cared for, and they will become a customer for a lifetime!

Loyalty can be powerful but you must make it meaningful. Not just a way to track your customers but a real meanful way for customers feel like if they ARE loyal they will get a valued Reward

The market is moving past just earn-and-burn points, and into a broader value ecosystem for building and maintaining loyalty. Early access to products, not just on the brands site, are a value add. Bespoke experience in/around the brand are also now commonplaces - Ex. Sur la Table and Crate & Barrel's events in addition to the products they sell.

Escalonar os benefícios pode ser uma estratégia importante para que mais clientes n?o só se inscreverem no programa de fidelidade e sim sintam a necessidade de conquistar esses benefícios e passem de fato a usarem o programa.

Ulta and Sephora are examples of effective loyalty programs. I’ve had focus groups report back that the customer will choose those retailers time and time again for their rewards. They know they can count on juicy freebies for points and various promo periods throughout the year.

Sazonalidade é uma ótima oportunidade de gerar necessidade e consumo adaptado a gamifica??o, tendo como objetivo criar um relacionamento mais duradouro com os seus clientes.

UGC is important here, specifically reviews. The PDP pages on most sites still lack a natural and clean way to embed others reviews and show the context-relevant ones to support other customers buying. Voice of Customer (VOC) through solutions like Sprinklr and Medallia are also commonly used here. Most retailers leverage NPS post-purchase and post-fulfillment, and tie executive leaderships bonus to moving this metric.

Do primary research with your clients really listen to the your happy customers and the ones that give negative feedback. Sometimes the negative feedback details will lead to important insights.

Collecting and using feedback is best personalized engagement, tailoring shopping experiences based on individual preferences. For instance, Amazon analyzes purchase history to recommend products, fostering a sense of personalized attention. Additionally, real-time feedback mechanisms, like post-purchase surveys, allow retailers to promptly address concerns. This responsiveness builds trust; Zappos, known for exceptional customer service, actively seeks and acts on customer feedback to enhance satisfaction.

In my experience, feedback is a measure on whether you’re going in the right or wrong direction as you provide a service. You get to learn and know so much more about what you do better everyday. Most often it’s a source of great ideas too!

In Indian market which is rural dominated the most important factor is the value. Value means here not only adding value to their life by providing better customer service, loyalty points or gamification but the most important factor is "the value for money". Indian customers are more concerned about the return of investment. But not only in India but people from every developing country will react in a same way due to their upbringing and way of living. They might choose an unbranded product over a branded one to save some penny. Probably that's why D-Mart and recently born Zudio become so popular amongst the consumers.

Nordstrom’s annual Anniversary sale is a great example. Depending on the loyal level, customers get access to the sale first. Vendors know that customers look forward to this event twice a year and provide them exclusive sale opportunities not sold anywhere else. It’s truly a high quality item at an unbelievable price and value.

In Asian markets, particularly in countries like Korea and Japan, emphasis on quality is paramount. Your products must be impeccable to meet customer expectations. Beyond appreciating quality, customers in these regions value craftsmanship and storytelling. Ensure that your staff is well-versed in product details and features to address any customer inquiries.