GenX or Millennials who is the most loyal and does it matter!?
It’s interesting to me how many people focus on the specific generations, Gen-X, Gen-Y, Millenials, Gen-Z… It also got me to thinking about the loyalty levels in each of these given generational groupings. To me, it doesn’t matter if you have a segment that you target all your messaging and branding towards if they have no loyalty, but the real question should be why are your customers not being loyal?! After all, its really the lifeblood of any business, not just retail and eCommerce to rely heavily on repeat customers. I have said this before and will probably say it until my last words of advice to any entrepreneur, it’s cheaper to sell to existing customers than it is to get new ones!
I think its important to look at things like waking the sleeping customers on a regular basis, so that you keep them coming back and buying, BUT at the heart of it all is the customer experience, and if people are not getting what they want, not enjoying the online experience you are providing, it doesn’t really matter who your targetting, or trying to win back, or essentially how loyal they are.
You need to provide a winning experience, and in today’s omnichannel environment, where eCommerce and Retail MUST work together it is even more important that things align. Things that to your customer may seem so simple, but to you might make your head spin. Things like inventory management so that when a customer buys online and wants to pick up in store, or simply look online and it advises that there are 2 items in stock, that this is representative of the actual store they might go to, so that if they go to that store to pick up an item that it is actually there.
On too many occasions, I have gone to certain stores to pick up things that were supposed to be there and were not. Do you think that makes me want to return, of course not! The technology is there to do this, as is the demand of the customer, so instead of worrying about who is the most loyal, let’s focus on creating loyalty!
Give people what they want and they will return.
That’s my rant and exactly what Jasmine and I talk about on this show.
Company Noted in the show:Grow your retail with VendHQ