Whether it’s 1-click ordering, or a next-level in-store experience, technology giants like Amazon, Apple, and Facebook are continuously raising the bar for a superior customer experience.
The business impacts of this constant innovation are far-reaching for retailers. As the cost of digital investments continues to outstrip market growth amidst intense competition, retailers are finding it more difficult to keep up with the pace of innovation. Price transparency coupled with the ubiquity of mobile devices has spurred a race to the lowest price. With diminished visibility and control over when, where, or how customers interact with their brand, finding meaningful ways to engage consumers has never been more challenging or expensive.
Mobile has fractured the traditional marketing funnel into intent-driven moments, and consumers enter mid-funnel, skip stages, or bounce between stages with the aid of their mobile devices. For many retailers, mastering these mobile moments demands a new approach and skill set they cannot cost-effectively build on their own. But the imperative is clear: 89% of retail CEOs see mobile technologies for customer engagement as strategically important.
Forrester Research found that improved customer engagement can deliver millions in annual revenue [paywall] for retailers in the form of increased loyalty and customer lifetime value, enhanced brand advocacy and reduced churn.
Download our white paper, The Business Case for Mobile Customer Engagement, to learn how it leads to increased revenue.
The right mobile customer engagement approach can address a trifecta of key business challenges:
- Optimize the Customer Experience. Just a few years ago, a shattered iPhone screen meant making an appointment at the Genius Bar at the Apple Store, waiting an unspecified amount of time, turning your phone in, and waiting again for a variable amount of time before pick-up. Today, you can go online, select what’s wrong with your phone, sign up for an appointment, drop off your phone at a local store, and pick it up 20 minutes later. Not only is your customer experience consistent from desktop to store to mobile, it is optimized for decision-making and customer support at each stage. A single view of the customer ensures that at no point does friction disrupt your journey as you navigate seamlessly through multiple interactions.
- Extend ROI of Existing Marketing Investments. If you researched and selected a pair of hiking boots to add to your shopping cart, but decided to try them on in store later, you’d expect to receive a cart abandon or retargeting email, and that would be the end of it. With mobile customer engagement, marketing automation extends into the offline world so that when you enter the retail store, you receive a push notification informing you that the boots you’re interested in (and several similar pairs) are in stock or on sale. Clicking on the push notification leads to a mobile-optimized screen for more information or a promotion.
- Improve Customer Retention. Today, you might already use your smartphone camera to scan barcodes of out-of-stock items, in order to access inventory online or at another nearby location. With mobile customer engagement, a few taps can purchase the item and offer an option for pick up at the nearest store or direct shipment to your home. This type of “endless aisle” functionality creates a level of brand stickiness that prevents a customer from leaving the funnel and driving to the nearest competitor to make the purchase.
By unifying customer interactions independent of device, screen, location and channel, retailers can eliminate shopping complexity created by the fractured marketing funnel, evolve with shifting consumer expectations and sustain relevance. Mobile customer engagement cultivates customer lifetime value, which readily translates into millions in revenue in improved growth, margins and loyalty. Even more importantly, embracing this retailer imperative is a way to future-proof the business against the continuous disruption that technology giants will bring to bear on the customer experience.
Download the complete business case for mobile customer engagement to learn how you can increase revenue and future-proof your business.