5 Bad Habits Let’s face it: we all have our bad habits. Whether it’s missing fitness sessions or always arriving late to meetings? no one’s perfect? and it’s not a big deal. What can be israel telegram data more serious for retailers? however? is letting your bad habits jeopardize the health of your business.
Most of the time? bad habits that can be detrimental to your business growth can be easily avoided and corrected. That’s why we partnered with Nicole Leinbach Reyhle? founder of RetailMinded.com ? to highlight five common bad habits among retailers and explain how to correct them.
Bad Habit #1: Not knowing who your customers are 5 Bad Habits
Think you know your customers? Think again. Between Gen Z? Millennials? Baby Boomers ? and everyone else spread out between these generations? there are many demographic? psychographic? and behavioral nuances that can influence what your customers buy and the channels they use.
How to better understand your customers?
Rather than relying on your gut? study your customers’ profiles and purchase history to gain a clearer understanding of who they are? what they buy? and how they buy it. Knowing who it is one of the most important types your customers really are allows you to deliver personalized offers via email. A customer who is offered a promotion for a product or service directly related to their previous purchases will be more likely to buy it.
Knowing you r customers better pays off. A study by executive consulting firm Bain & Company found that building customer loyalty through personalized offers can increase your profits by 5 Bad Habits up to 25% . To help you achieve this growth? you can leverage your customers’ purchase history? combined with the marketing tools of a loyalty program.
Bad Habit #2: Not Accepting Different Payment Options
To show your customers you truly care? let them pay the way they want…not the way you want. Offer multiple payment methods? whether that’s by typing a PIN? swiping a card? or inserting it.
Payment processing is often frustrating for many merchants? and understandably so. Third-party payment processors typically charge fluctuating fees? impose long deposit times? and require agreements that are often difficult to understand. These barriers immediately complicate the task for merchants who want to offer a variety of payment options.
How to offer more payment options to customers?
You’re looking for fast? secure? and affordable payment processing systems that work for both you and you b2b reviews customers. A growing number of POS system solution providers offer integrated? PCI-compliant payment processing systems at transparent pricing. This allows you to avoid complex third-party payment processing agreements and centralize your business operations with a single company.