Retailers today face unprecedented pressure from competitors and consumers alike – but the rivalry now extends beyond other retailers to include technology powerhouses whose blistering speed of innovation is effectively setting the bar on customer experience expectations, and helping them engage customers across online and offline channels. For this reason, when compared with companies like Amazon, Apple, Facebook and Google, retailers are far behind the curve in meeting customer expectations.
Tech Giants Raising the Bar
To be honest, retailers are struggling to even stay relevant in the face of the rapid pace of innovation from the technology giants. As these tech giants set progressively higher standards for customer-centric innovation, consumers continually expect a faster, easier, more personalized, ‘no-channel’ experience from their retailers.
Many retail executives are struggling to meet these demands, while simultaneously trying to grow revenue and build stronger customer relationships. But as continuous innovations from tech giants are inevitable, retailers must learn to quickly adopt the latest innovations in customer experience in order to survive in today’s retail landscape.
Future-Proofing Your Business
To future-proof your retail business, a first step is to accept Forbes’ declaration that customer experience is the future of marketing – it builds brand trust and loyalty, and may be as important to consumers as price by 2020. To improve customer experience, Harvard Business Review recommends focusing on the digital customer experience in particular to earn more customers, sales and loyalty.
To compete on customer experience, retailers must look to future-proof their business with a mobile customer engagement platform. A platform enables retailers to not only stay relevant today, but to future-proof their business against the inevitable customer experience innovations that tech giants will continue to drive.
For instance, consider push notifications. Once only available through apps, this messaging innovation continues to evolve today, and is now available through most web browsers. As web push notifications have a much wider reach and the ability to engage customers with no app download or email address required, they should be an important part of any retailer’s marketing communications and ecommerce mix. But how do retailers implement this new technology?
Buy yet another point solution that is siloed from their other communication channels?
Build it in-house and take on the associated costs and risks?
With a mobile customer engagement platform, retailers can simply “turn on” the web push notifications feature when they’re ready. Utilizing a singular platform allows retailers to quickly adopt the latest innovations without the risks or costs associated with building it in-house.
How Retailers Win
Adopting a mobile customer engagement platform not only serves as a revenue growth driver, but as a way to future-proof a business as technology giants continue to disrupt. There is significant opportunity to serve customers better, compete strategically and grow revenue faster. By elevating the customer experience, retailers will see greater customer acquisition, higher sales, word of mouth referrals, and ultimately, increased brand loyalty and customer lifetime value.
These practical mobile innovations can differentiate your brand and help you win market share from competitors who wait or fail to satisfy shoppers’ desire for a “no-channel” experience.