Why does customer experience matter? A customer chooses to walk into your retail store. He or she generally has numerous places to buy a gift or high-end electronics device. Why should they choose you? More specifically, why do consumers routinely choose some retailers over others? The product is the same. The difference lies in the customer experience.
Consider a Few Key Facts Influencing Buying Decisions
According to Retail Customer Experience, companies that invest in superior customer experiences bring in 5.7 times more revenue than their competitors who do not prioritize customer experiences. For those that don’t see the benefit there, consider this: companies that lose customers over poor service experience significant drops in revenue. According to an Accenture report, for example, the cost of customers switching companies amounts to $1.6 trillion in the U.S.
Another key fact to consider is the cost of bringing in a new customer. How much money do you spend on marketing to bring in just one new customer? What if you didn’t have to bring in numerous new customers, but instead could count on existing customers coming back to you? Another report found that loyal customers – those who enjoy the level of customer service they receive – are five times more likely to purchase again and four times more likely to let their friends know about their good experience.
What Does the Power of Customer Experience Do for Your Business?
If you take a look at the way customers shop within your retail establishment, you may see some key challenges and limitations that end up costing you time and money. Some of the most common problems associated with a negative customer experience include:
- Disorganized or empty shelves
- Lack of employee assistance
- Difficulty finding products or inability to access products
- Pricing problems (tags not matching what rings up)
- No thanks or feeling of gratitude for customer loyalty
Most of these things are fixable problems – there are solutions to ensure your customer is getting the positive experience he or she needs. In some situations, you will need to refine the way your team interacts with customers and improve overall inventory management.
Why Customer Experience Seems So Difficult
One of the problems retailers have in meeting customer experience expectations is simply management limitations. It can seem impossible to have enough staff on hand to meet all of your customers’ needs. You have to balance profits, after all. You may also find it difficult to keep enough product on hand when you are worried about theft and inventory shrinkage.
Finding that careful balance is difficult in every situation. Yet, for many companies, it may not be as impossible as it seems.
How Senseon Improves Customer Service Without Driving Up Costs
What if you could provide your customers with a higher level of customer service without significantly altering operations? Solutions like Senseon cabinet-level access control systems are simple to integrate into your existing security infrastructure and provide enhanced security, while improving the customer experience. With Senseon systems, sales representatives can lock and unlock displays using a keyless, RFID-enabled device, which means it takes only a few minutes to get customers what they need.
For the retailers that want an extra layer of control and protection, Senseon Plus is an ideal solution. The system comes equipped with advanced security features, such as dual authorization and alert/alarm functionality, as well as compatibility with a cloud-based audit trail software. These features enable managers to track access and monitor employee activity in order to stay one step ahead of thefts and shrinkage.
With Senseon systems, it is possible secure merchandise, while keeping it visible and simple to access during transactions. The result is your customer can find what he or she needs and enjoy a much more streamlined system.
As a business owner, it is essential to keep operations running smoothly. This means balancing labor costs, inventory, and more. Yet, the customer experience must remain paramount. Thankfully, with Senseon systems, it is possible for retailers to improve the customer experience without significantly altering operations. Contact us today to learn more about our retail security solutions.