Knowing the Types of Customers and How to Make them Purchase More

Business is not only about the transactions; it is also important to know and understand the people going in and out of your store. Customers have their differences. Businesses must be aware of these differences to know how to deal with every shopper and cease the opportunity of pushing for purchases.

The main types of customers include the Impulse, Loyal, Need-Based, Discount, and the Wandering.  Each one of these types differ in their perception and behavior towards your brand.

The loyal and impulse buyers bring in the largest portion of your sales while the other three makes up the remaining parts. The first two is what you need to focus on if you are determined with the success of your business.

For further understanding on each customer type, here are some further explanation:

• Impulse buyers provide a large amount of customer insight and knowledge. Using the right strategy, they can easily be persuaded. Since they are those who do not have particular products in mind, you can give them recommendations on what products are good for grabs at a particular time.

• Loyal customers play an important role in your buying and merchandising decisions. They make up only a small part of your customer base but they provide a large part of your revenue. As their name suggests, they give the most value to your products and they are more likely to recommend you to other people. So, you need to treat them with heavy emphasis by improving your service and products based on their perspective.

• Discount shoppers shop frequently but, they most likely to depend their buying decisions on low markdowns. They cannot be easily turned into loyal customers as they opt to look for the best markdown so they are most likely to return products.

• Need-Based customers spend the least time in your shop. They just come in, buy what they need and go out. It is hard to push for upsells for these people just like discount shoppers and they are also likely to be drawn to other brands. That’s why it is important to engage them with positive personal interaction if you want to retain them.

• Wandering shoppers gives you the least amount of revenue but they make up the largest amount of traffic. They are those who don’t need or want anything and doesn’t have any particular product in mind. Usually they just find your store location interesting so they drop by and look around. But you can still stimulate their interest and turn it into purchase. This is by providing them insightful information about your available products.

For many stores, this is the largest segment in terms of traffic but the smallest in terms of sales percentage. There is not a whole lot you can do about this group because the number of wanderers you have is driven more by your store location than anything else.

Understanding these descriptions leads you to your first step in turning the four other types of customers into loyal ones. Ensure that you give them positive experience while doing so, as this will encourage them to come back and contribute more for the success of your business.

 

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Hyping Up the Sale of Fashion Accessories this 2020

Aside from apparel, fashion accessories such as jewelries and bags among others are seen to have the most promising potential as a retail business in the following years, merely due to people’s fascination with convenience and affordable prices when shopping these. Aside from the fact that they don’t need fitting rooms, they can also be bought quickly making them perfect gifts causing a boost not only the sales of physical stores but also of e-commerce businesses. But the potential of these products must still be converted to actual numbers. So, here are some steps on how to boost the sales of accessories in your store.

Aim for Optimal Profit Margins

Many retail store owners think that doubling an accessory’s wholesale price is the best deal that they could ever get. But they don’t know that there’s no rule saying you can’t be more ambitious as long as you have the right strategy. So, take note of that partnering many accessory vendors allows you to retail items for up to 500%. Your competitors are most likely to settle at 50 percent margin which could keep them a light to moderate flow of income while yours could be bigger but not necessarily slower. Again, you just have to look for the right partners that will allow you to yield large margins.

However, aside from your competitors offered prices, certain expenses such as wages and rent, the product’s quality, and its sales volume must also be considered before you set your final price. This could change overtime depending on what strategy will allow you make the most out of the opportunity.

Always Keep Up with the Trends

Another thing that will make accessory sales steady is knowing what to stock depending on what the customers need and want. This means you have to invest on a variety of trendy pieces that will hook your buyers to spending more. Giving them more choices will motivate them to buy again with a never-ending curiosity of what they can uncover next.

Use a Sales-driven Merchandising Strategy

Display pattern and location is a very important element of this tip. It is valuable that you are able to match jewelries with other items such as clothing and other accessories and give a visual representation of it through the use of images or mannequins. This will give the shoppers a vision of what your products would make them look.

Also, it is crucial that your accessories are displayed on easily accessible to maintain engagement and interest. Giving them a closer glimpse and even a touch of the actual products makes them more likely to buy it because it is already within their grasp.

Maintain Strong Customer Service

Great displays alone won’t do all the work to boost your sales goals. But combining it with a strong customer service absolutely will. Give priority on training your sales team to apply conversational selling into their day-to-day accessory-selling strategy.

 

Guide your sales team in encouraging “add-on sales” to existing purchases such as complementary items that will make as a perfect addition to any outfit. Use your knowledge both on your customers and on the products to engage and inspire sales. Proper training can help achieve this in no time.

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Slaying Business with a Remarkable Logo

Many businesses disregard the importance of having an appealing logo. Some thinks that focusing on other branding materials such as social media posts are more important, not knowing that these visual elements have their own purposes which are effective in their own way.

Most of them are also unaware that aside from the brand name, it’s the logo that will stick to the customer’s mind. Meanwhile some owners think they need to invest a lot just to come up with an effective and remarkable logo. But it was proven by some well-known brands that it’s all about having a logo that can be drawn from memory.

It is true that your logo is not the only thing that matters in your brand. In fact, customers would still judge you based on the products and services you are offering. But it will be the face of your brand and it will matter a lot as a visual representation of your business in your website, packaging, signage and marketing.

So, here we’ll discuss the value of logos and some important things you have to remember as you make your own.

Keep in mind that a logo must not only be meaningful and creative but also as simple as possible. This is to make it easier for your customers to keep it in mind and recall it when the right time comes. Logos are also good in communicating a message that you want to relay to your customers if you don’t prefer words.

By having a logo, you’ll also have a basis for your design on your other marketing tools. It is what will remind you to stick on a general theme or principle.

Your logo is also what will associate you to the industry you are in. It is what will make you easy to identify. Having an effective logo can help potential clients what possible products they can expect from your brand. This means a unique brand brings you a step closer to getting noticed and remembered.

Now that you know the many advantages of having a logo, you must understand why many chose to have one or more logos of their own. Not only will it make them look more legitimate, it is also a venue where they can express their creativity.

Aside from these, you must also take note of some things that you must not do when working with your logo such as overcomplicating it. Using too many colors and symbols may lead to confusion or customers may choose to just disregard it because it’s too much for them. You must also avoid imitating or using symbols that are similar to other logos. Not only because it can be a prone to plagiarism, but it will also hinder your brand from standing out.

Your logo will be a part of your brand’s history. Ideally, you will carry it with you as your business grow. So, you have to make a logo that you can look at with pride and honor. How it is perceived and remembered by the customers is also equivalent to how they see you and your management of the business.

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How to Drive Online Store Traffic into Actual Sales?

In the E-commerce Industry, having website traffic is one thing but making actual sales is another. It doesn’t matter whether many people are visiting your online store. If they are not buying anything at all, then it won’t make you gain anything. The success of your online business relies on attracting your target market and turning potential buyers into actual customers.

Here are some things on how you can improve your online site so your site visitors would actually click “Buy Now” and make purchases.

Check Whether Your Online Store is Enticing to New Customers

There are a lot of platforms where people can do online shopping. So, it may be challenging to standout. You have to meet the expectations of potential customers. But before you can do this, you have to know first what exactly they expect to see. Fortunately, that’s easier to determine.  First, you must make your Navigation Menu accessible and as smooth as possible because your customers need this to work so from your homepage, they can check your products and head to your checkout afterwards.

Make Good Impression Through Honesty

Unlike a physical store, it’s much easier to make promises and claims online. But it doesn’t mean you have to capitalize on that. You have to be real on what you display so you could earn your customer’s trust and encourage them to consider what you are selling to them.

Establish a Professional Brand Display

Your website homepage will be the face of your brand. Most of the things that they see on it can be a factor on how they will perceive your business and whether they will make a purchase. In dealing with this, you must have a unique yet relevant professional logo. It must represent your identity through consistent colors and fonts. It is also important that all images that you use are of high quality and clarity. Text must be easy-to-read and must convey valuable meaning. Visual elements that are vital in an online store as this will give away everything due to the lack of physical interaction.

There are a couple of online guides that can help in choosing complementary colors for logos and templates that can be used as basis for the look of your online platform.

Your art direction should also apply to the site’s contents such as product images. This is something that you should focus a lot as this is what you are selling to the people. You must be able to convince them about its quality even if they are not seeing or touching it physically.

Utilize a Powerful Call to Action

A call to action is a strong line of copy supported by a clickable button. They work together to draw attention and encourage action from a website visitor. A call to action is typically featured through a store’s homepage banner. The main banner typically catches a customer’s eye first and is used to promote your best-selling product or most compelling collection.

 

 

Make Your Website Mobile-friendly

Your potential user who are using their mobile phones may see your website differently compared to when they look into it using a computer. So at least make use they both can load your homepage with good quality if not exactly the same. Also consider other devices where it can be accessed and make sure it functions properly.

Build Trust by Telling a Story

Last but not the least, building customer trust is crucial, since your visitors can’t get to know you in person, your website should not only be inviting but it must also connect with them with a personal element. This can be done by incorporating your story or mission into your homepage or on an About Us page.

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Making Use of IGTV as a Marketing Strategy

Online social media platforms such as Instagram have changed a lot since they were founded years ago and along with the launch of new platforms such as the IGTV, comes the opportunities to engage a user’s current audience while attracting new ones.

This is useful for companies who are into Instagram especially those that are able to establish good follower count. Here are the reasons why IGTV can be good for your business.

One of the main advantages of using IGTV is how it brings a business closer to the consumers through the use of longer, permanent video. This is perfect because it enables to do a deeper storytelling. It also allows them to build stronger ties with potential customers while showcasing other dimensions of their business without being limited to one type of content, length or format unlike on other platforms. This is because unlike on the regular feed, here videos that are 10-60 minutes can be uploaded depending on whether you have a verified account.

These long form-videos can also be shot and uploaded vertically, making them more attractive for those who don’t like rotating their phones every time they have to watch a video. Viewers can also watch it on full screen. It’s like watching a YouTube video inside your Instagram app.

Another great thing about IGTV is that it doesn’t have any ads yet, so users watching your videos wouldn’t be distracted. Also, whenever your followers open IGTV, they will instantly see original content from you, while new people can discover your brand widening your reach. IGTV works best for video tutorials, unboxing of your products, product demos, behind-the-scenes, educational videos, and more.

Now there’s no other reason not to try as its super easy to download the app, setup your account then post your creative videos. But the key to being successful is making your videos interesting right from the start. Being able to grab your viewers’ attention in the first few seconds should be your primary goal. Your next priority should be is to get them hooked and make them watch till the end.

Using closed captions are also important because more people are likely to watch an entire video when they were provided subtitles. So, make sure your videos accessible to everyone.

If you want to be consistent by having a steady supply of content, you can reuse old content and make new videos out of them. If you have blogs or articles, then maybe you can turn them into interesting vlogs that your audience may want to watch. Keep in mind that posting regularly is crucial because it will make a good impression to your target market and it will keep them engaged.

IGTV’s insights regarding your viewership and engagement can also be useful for you to know you’re your videos are performing and helps you think of ideas on how to improve them. But, remember that great ideas don’t always translate into successful content. So, make sure you also know how to plan and execute your strategies well.

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How the Retail Industry Should Prepare this 2020?

Many says that January deserves its own year ender, after everything that’s happened ever since this year started; Catastrophes around the world, threats of world war, death of very well-known celebrities, and many more. These events have affected the planet and its people in different kinds of ways. One of the sectors that have witnessed the impact of these circumstances is the retail industry. They see that along with the trends, these social happenings are also affecting the buying behavior of their customers. However, now that we are only halfway through the second month of this year, there’s still a lot of possibilities and what might happen on the following months is still uncertain.

Here we will discuss some facts that will help businesses prepare for their success and growth.

Among the retail consumer trends, convenience remains one of the most important and this 2020, its meaning and the challenges that it brings is what retailers are focusing on. For them, it is also valuable to understand how the changes in their customers’ expectations, especially with the convergence of supply chain, digital technologies, and other innovations.

But then again, retailers are required to have a strategic plan that is open for adjustments. This year is giving retailers an opportunity to review their plan to survive the possible downfall of the overall economy.

Some of the wise moves that businesses can do is to embrace technology and automation to boost growth, and consider establishing partnerships. This is to cope with the continuous advancement of technology. Meanwhile, understanding their expectations for an exceptional customer service and experience is what will help overcome uncertainty, however. There is influence from the outside so retailers are faced with a challenge of making a decision on what they must do to make profit during these modern times.

There may be lots of definition of convenience. But generally, people are looking for things that simplifies life while providing positive experience. Now, what’s more important to them is not the actual buying of items but using them. So, they also tend to outsource services that will get them those products.

With some trade tariffs going around the world, the growth on the general economy deteriorates this could also mean slowing down of consumer spending growth. This is primarily due to the gains in the labor market that haven’t translated to strong wage growth, the possible slowing down of disposable income, and the escalation of trade tensions which could threaten growth and employment.

2020 offers countless convenient options that will help improve the retail experience. But first, retailers must understand that convenience about giving ease to the overall consumer experience while providing extra services. People should also understand that the brand promise is an important consideration when investing in convenience and even if your organization is willing to invest, you still have to know the willingness of the customers to pay for your products and services.

Determine your shoppers’ willingness to pay for convenience and your organization’s willingness to invest. Take note that those who will rule this year will also win the privilege of shaping the future of retail. So, to be a game changer in the industry, you must first familiar yourself with the rules of the gaming no matter how many times they change.

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Marketing Operations As The Foundation Of A Company

A business organization doesn’t simply stand as it is; it is like a racing car which has its pit crew to check on it once in a while to make sure it will run and compete smoothly; a building made out of steel scaffolding and foundation which fortifies it and makes sure it stands strong.

A company is nothing without marketing operations for it is the key function that helps marketing to keep going competitively. Marketing Operations is where a strategy is being formulated and applied to make sure efficiency and effectiveness will remain balanced and that the marketing department will function in line with the organization’s goals.

One of the known purposes of the Marketing Operations is to help the Marketing organization determine the expected Return on Investment (ROI) from investing in data, analytics, technology, processes, and talent resources.  But here, we will discuss further the other reasons why it plays an essential role in the success of a business.

Marketing Operations can help a business in a lot of different ways depending on how it is being implemented. For some, it can be useful for workflow definition, financial and performance measurement and management, strategic planning and alignment, innovation adoption, and marketing technology. Meanwhile others use it for automation and tracking of supporting campaigns and budget. In some cases, there are also some organizations which uses it as an area where they can designate tasks that no one else wants to do.

Nevertheless, Marketing Operations is a great tool in planning a strategy and measuring factors that could bring a brand on the top of the competition. In order to do that, it should work proactively; managing data, analytics, processes and planning. It should also help in maintaining tools that help identify customer wants and needs, deciding on which markets and customers to pursue, what messages and channels to use and when these will occur, what service and adjustments are needed throughout program execution or how to modify the strategy due to unexpected changes in market and competitive conditions.

Marketing Operations is tasked with a heavy burden of preparing to be able to fulfill needs and provide any service or adjustment to support the Marketing team and its internal stakeholders in product, sales, service, and delivery. It should not be stagnant and must develop a culture of strategizing a plan ahead of time instead of just waiting for issues to arise and react on them. Successful Marketing Operations on organizations are those that are enabled to have exceptional customer service, supply/inventory management, financial management, and general maintenance skills ahead of time.

A framework must come along while identifying what other roles your Marketing Operations must attend to. This should cover the department’s mission, role, and milestones. Once this framework was established; a plan can then be developed to communicate information to the marketing team and to the other stakeholders. This will then lead the organization to understanding how the it can better develop its Marketing Operations and how it can improve its functions through visible results.

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