Experimentation & Innovation

In-order to truly understand what works, retailers will need to try some things that don’t, remember the Starbucks “Evenings” program (a temporary blip in which Starbucks tried to appeal to the ‘late night’ customer by serving wine and food in-store). While this program was a flop, it taught Starbucks a key lesson, customers go there for a reason. Since 2015 Starbucks has gone on to lead their industry in innovation, introducing locally themed stores, removing their online sales, and leveraging their rewards app for payments & orders. While Starbucks is certainly “one of a kind” their strategy highlights something retailers need to learn fast, “The only way to innovate is to experiment”. Retailers cannot afford to stay stagnant, instead they must seek out cost effective ways to measure their consumers appetite for change, and quickly pivot to meet these changes.

Data Driven

Big data rules retail, brands that operate on a large scale can instantly understand the needs, habits and trends of their customers, using this information to support business decisions and drive positive progress. But, businesses of all sizes can leverage data to drive their business forward. Teamwork Commerce partner, TruRating, can record feedback from the payment terminal, meaning customers can offer their thoughts during the purchase process. Tools like this combined with an array of data created in customer profiles can simplify decision making.

Is one store performing significantly better than your others? Always crowded at certain times? Some products always shipped to the same stores? Without a constant loop of feedback, it’s not always easy to spot where small but significant operational mistakes are occurring. If you can quickly spot where you’re missing the mark, you’re empowered to more readily attend to these issues allowing you to constantly improve and optimize the customer experience.

Positive Feedback Loop

Customers want to feel heard in their shopping experience, if complaints pile up and changes are not made, customers are left displeased, and will often just take their business elsewhere. If customers feel like their voices are heard, they will continue to provide feedback. If businesses can combine this with effective social media strategy, then they can continue to captivate their customers and build a community around their brand. Customers want to feel like your primary business goal is to solve their problems and fulfil their needs, not just get their money.

The customer is a businesses’ most important asset after all.

Interested in adding feedback collection at your point of sale? Teamwork Commerce Partner TruRating is an industry leader in providing actionable data collection to improve the customer experience.

Visit The TruRating Website

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