Are you gearing up to bring in major cash flow this final quarter? If businesses want to win this holiday season, they need to have a pulse on what consumers want.
Consequently, improving your communications, marketing, and checkout process should be a top concern this year. With the right tools in your toolkit, connecting with customers and winning business will be a breeze. Read on for our top tips on how you can be sure to come out on top this holiday season.
Consumers Want Convenience
It’s no secret that customers are loyal to businesses that save them time, money, and effort. Whether you’re a small online business or a major retailer, customers want a seamless experience that is easy from start to finish across all channels. This is especially true during the holiday season when customers are feeling pressure to find the perfect gift in an uncertain landscape of low stock, understaffed shopping environments, rising inflation, and other stresses.
Businesses can create loyal customers by bringing convenience to the table, and a primary focus should be on the checkout and return experiences. With 7 out of 10 parents stating they are more loyal to a business that can deliver a seamless checkout and return experience, the onus will be on businesses to make sure their processes are above the cut.
So, how do you offer customers more convenience in the areas where they crave it the most? Here’s everything you need to know.
→ Easy-to-Redeem Promotions
With rising costs, customers this holiday season will be highly budget-conscious, and they’ll probably be planning to spread out their purchases over a longer timeline. Snag customers’ attention and get them planning future purchases from your online business by offering a deal that’s not only impossible to refuse but also super easy to redeem.
Offering easily redeemable promotions is a surefire to increase the likelihood of your purchasers becoming repeat customers! Pro tip: this works for enticing new customers too.
This year, bring out promotions that are even more convenient than a discount code. Boost online sales by offering a minimum purchase discount where customers can automatically get free shipping or a discount at checkout.
Another easy deal to offer is a customer loyalty program. Rewarding customers for purchases they’re already making is a great use of positive reinforcement and will keep them coming back for more. It’s also a great way to measure customer loyalty.
→ Buy Now Pay Later
Offering flexibility for online and mobile payments majorly improves the customer experience. Consider adding a Buy Now Pay Later (BNPL) option. This tool will be a major money maker for your online business and a huge booster for customer retention this holiday season.
According to our internal research, 70% of retailers already offer BNPL to their customers, and the popularity of this payment method is steadily increasing. And with so much shopping happening online these days, separating yourself from the digital competition is more important than ever before.
These days, customers want more from businesses, and they want it easier and faster. A survey conducted by C+R Research found that 45% of respondents use Buy Now Pay Later payment options once a month or more. 38% of respondents who use BNPL think this service will eventually replace credit card payments, and 56% prefer Buy Now Pay Later compared to using credit and debit cards for purchases.
Offering a BNPL payment solution creates an easy, seamless checkout experience and it is a major way to encourage customer loyalty. It also provides a w
ay for your customers to purchase on a timeline that works better for their budget—so everyone wins.
→ Customer Friendly Payment Options
As you know, competition is steep when it comes to delivering a flawless online customer experience. In our digital world, customers have almost endless options at their fingertips. This means that convenience reigns supreme particularly when it comes to checkout, and it’s not enough just to accept payments online anymore. HOW those payments can be made matters.
Providing customer-friendly alternative payment methods is the clincher for seeing the sale through. Customers want to be able to pay in the way that works best for them—nearly 1 in 4 consumers abandon transactions entirely when their preferred methods of payment aren’t available. Businesses are sure to lose sales by failing to diversify payment options.
Another speedy way to bring in cash flow this holiday season is by accepting credit card payments through mobile wallets, allowing customers to skip over entering payment information altogether. If you want to gain an edge over other businesses though, make sure to offer text-to-pay, where customers can communicate with your customer service team and make a purchase all from their own mobile device.
Innovation Wins Business
Necessity is the mother of all invention, and more purchases being made online means businesses need to develop updated marketing strategies that drive customer acquisition and retention. Don’t miss out on better ways to reach customers and innovate consistently.
→ Meet Your Customers Where They’re At
The average person spends nearly 7 hours online per day. Making sure your business is right where your target market spends their time is an absolute no-brainer.
All businesses know that social media channels are the lifeblood of nearly any marketing strategy. But pay close attention to which social media platform is likely to result in online purchases for your small business.
Take a hard look: Is your target audience more likely to be scrolling Pinterest at 8pm on a Thursday? Do they like to start their day scrolling on TikTok? Don’t waste your precious marketing budget on platforms where your customers aren’t scrolling or posting.
Once you’ve figured out exactly where your target audience will be, make it easy for your customer success teams to offer lightning-speed response times to customers by controlling all communications in one place. Let’s face it, jumping from platform to platform to interact with new or repeat customers is a total nightmare, and it ultimately disrupts the sale if a customer is left hanging or doesn’t receive stellar customer service. Invest in a tool that compiles all of your customer communications into one inbox, no matter which platform they’re chatting from, so that you can reduce response times and retain customers.
→ Choose Channels That Help You Stand Out
Think a 98% open rate for marketing campaigns can only happen in your dreams? Convenience isn’t just king when it comes to payment options. Ads are everywhere, and customers are craving simplicity. Your business can improve customer acquisition by reaching them on personal channels like text. Offering text to your customers is an easy way to differentiate your business, win the hearts of your customers, and boost your bottom line.
→ What Does Your Reputation Tell People?
People buy from brands they know and trust. With ever-increasing numbers of businesses competing for customer loyalty online, you literally can’t afford not to build an impressive online reputation. Online reviews do a ton for building customer loyalty. And the cherry on top? They basically serve as free marketing.
Unfortunately, asking for reviews can be the first thing to slip your customer service team’s mind—especially during the hustle and bustle of the holiday season. Luckily, there is a way to make building your online reputation easy and automated. Free up your time by investing in a tool that will essentially build your reputation for you. The Podium Reviews tool allows you to automate invitations to customers to write reviews, manage all your online reviews from one platform, and show up on platforms where customers are more likely to see and engage with you.
Tech the Halls with Podium
Economic uncertainty doesn’t have to squash your holiday spirit. If your business has the right tools to reach your customers, understand their timelines, and quickly secure payments, you’ll come out on top this season.
Give your customers the gift of convenience and payment flexibility this year. By employing the right tools, you can create a great experience for your team and your customers so that you can be on the cutting edge this holiday season.
