CRM

Fast-paced markets are always changing. As customers' economic and social needs and conditions are changing, their expectations from businesses are also changing. Thus, your business must adapt and evolve to stay relevant to the current market trends. Focusing on your CRM strategies is a smart way to navigate the ever-changing business landscape. Here are four…

Amazon.com founder Jeff Bezos said in 1999 that what matters most to him is providing the best experience he can to his customers. In the same interview, he added “If there’s one thing that Amazon.com is about, it’s obsessive attention to the customer experience end to end.” Decades later, Amazon never wavered from its commitment…

In today’s highly competitive retail market, customer loyalty is often a pivotal driver of business success. So much so that studies have shown that increasing customer retention rates by just 5 percent can boost profits up to 95 percent. However, gone are the days of one-size-fits-all loyalty programs that offer the same rewards and incentives…

In the rapidly evolving retail landscape, the brands poised for success in 2023 and beyond are those that can effectively demonstrate empathy toward their customers and deliver a highly personalized customer experience.  These times present significant challenges for retailers. The escalating cost of living has caused consumers to scale back on spending. Geopolitical uncertainties have…

The retail industry is in the midst of a seismic shift: an era defined by heightened customer privacy concerns, increasing privacy regulations, and the impending demise of third-party cookies. With major platforms like Apple (iOS and Safari) and Firefox leading the charge to abandon cookies, third-party identifiers have dropped 50 percent to 60 percent in…

Earning and then protecting a trusted brand reputation should be at the heart of any good business strategy; yet, it often falls by the wayside because it arguably cannot be easily quantified. That said, your customer community and the trust you instill in your customers should be viewed as your greatest asset and a key…

In an increasingly omnichannel and digital landscape, shoppers expect quick and dynamic communication from brands they engage with. Unfortunately, a significant portion of retailers are falling short in meeting this basic expectation.  At my company, SOCi, we recently conducted our fifth annual audit of nearly 600 U.S. chain retailers. We found that 54 percent of all…

The latest figures in the U.S. show that inflation is now slowing down to 4 percent, yet the International Monetary Fund has also stated that the world economy faces “feeble and uneven” growth for the rest of the decade. So, how should businesses adapt? When spending increases, growth is easy. Businesses get to focus on acquisition and celebrate natural…

Several companies are experimenting with new initiatives to improve customer loyalty, including Amazon.com paying customers to pick up purchases and retailers like Abercrombie & Fitch, Anthropologie, and Gap ramping up discounts. Others, like Jenni Kayne and Madison Reed, are leaning into membership programs — but are these efforts truly worthwhile? Companies often turn to business…

Brand loyalty can be a fickle thing, especially when consumers feel the pressure of high prices and the frustration of out-of-stocks. When shopping online, these issues can come across as even more impersonal, further hindering brand loyalty. For example, after a long workday, there are perhaps fewer things more frustrating for a busy parent than…