The business environment is constantly adapting, and global events like the COVID-19 pandemic have caused many retail businesses to re-think how they operate. With 2022 approaching, it's time to determine how best to allocate a potentially smaller budget for the upcoming year.
Now more than ever, every dollar must be optimized to drive revenue and help you achieve your business goals. So, what do you spend that money on?
This deep dive will discuss why an investment in clienteling tools is worth every penny, and why you should consider incorporating a retail clienteling app into your retail budget.
1. Access Better Analytics
Having good data is the first step to developing or revising any business strategy. A clienteling tool can allow your retail stores to make data-driven decisions and apply their resources to areas that will result in the best results.
Not all clienteling tools are equal, though. A store team’s typical daily report without a clienteling platform usually outlines sales and foot traffic, but it is not enough on its own. A clienteling tool should tell you how you can increase those metrics, who should be responsible for certain action items, and where to follow up. Likewise, the insights should capture every touchpoint of the customer journey, and give you a fuller picture of customers who visited and then chose to purchase online rather than in-store.
With a platform like Endear, you can track store performance and develop reports that tell you exactly how much revenue each location is contributing to your company’s bottom line. It can also provide insights such as what products are driving the largest percentage of sales each month, where you should be hosting events, and what outreach ideas are most effective.
Just imagine how much easier it would be to prioritize who to reach out to – and when – if you had access to real-time data and analytics!
2. Facilitate Sales Anytime
No foot traffic at your store? No problem! A retail clienteling app will enable your sales associates to make the most out of their time by engaging with customers remotely.
For example, your associates can reach out to customers who have previously purchased in-store through text and email in order to keep up with them. Since all the messages sent on your company's behalf are in one convenient platform, you can easily track how customer relationships evolve over time.
Clienteling tools can also help increase ecommerce sales by giving online shoppers the opportunity to interact with a real person as they browse. By offering one of the key benefits of a physical store (a salesperson) online, you’re likely to see your e-commerce conversion rate skyrocket.
3. Know Your ROI Upfront
Another reason why a clienteling tool is worth every penny is that you can prove its return on investment (ROI). Rather than trying to predict how your investment will pan out like you have to do with ad campaigns and additional marketing spending, effective retail clienteling apps can calculate that for you - not just once, but on an ongoing basis.
For instance, you can determine how many more sales an app can help your team generate each month before you pull the trigger. At Endear, our customers experience an average ROI of 94x – which is a staggering number compared to the returns you would see from other marketing efforts!
Endear offers a free consultation and an audit of your current retail sales process, so you can see exactly how a clienteling app can address your pain points. Plus with our free trial, you can ensure results even before you start to pay.
Ready to find out your potential ROI?
With just a few clicks, our sales calculator can tell you how much in revenue you could generate by rolling out a clienting platform to your teams. All it takes is a few clicks! Book your audit below to see how we can help you improve your sales over time.
4. Improve Logistics
One of the first areas that businesses look to when they are on a tight budget is logistics. Whether it’s through improving inventory management or reducing costs, improving your logistics efforts can go a long way.
Did you know that a retail clienteling app can also help you with these goals? It can tell you which of your products are popular at each store so you can better manage your buys and avoid overstocking.
Simply put, a clienteling tool enables you to make strategic decisions about when to order inventory and how much you should stock in your stores, so you can maximize sales and minimize warehousing expenses. It can also play a significant role in supporting your BOPIS efforts – or "buy online and pickup in-store".
BOPIS offerings can take the customer experience to the next level by providing convenience and efficiency. The best way to capitalize on this trend is to track your customers’ preferences with Endear, and ensure they are aware of the omnichannel services you offer.
Read More about the Power of BOPIS
BOPIS and BORIS are just a few examples of how the right omnichannel strategy can help your business grow. Learn more about these two services and how you can use Endear to improve the pick-up experience for your customers.
5. Build Brand Loyalty
One of the most important reasons to roll out a clienteling tool like Endear is to improve brand loyalty. Think of it as your secret weapon to turning first-time buyers into long-time, repeat customers!
You may be wondering, how can Endear help boost brand loyalty while fitting into a smaller retail budget? The key is that clienteling allows you to deliver better service to your clients in a scalable, repeatable way.
The data the tool provides ensures that you can offer all your customers personalized and targeted messages, not just your VIP's. Personalized messaging will drive customers to take action more frequently, therefore improving your sales over time. Given that shoppers are more willing to buy from companies that deliver a personalized omnichannel experience, a clienteling app is just the sort of resource that can help your brand to stand out from the competition.
At Endear, our goal is to help you leverage data and technology to drive revenue, boost customer loyalty, and facilitate your sales process – without breaking the bank. Our clienteling tool is worth every penny, so contact us today to learn more about what your ROI could look like!