are always on the lookout for new and innovative ways to build better customer relationships and foster customer loyalty. With the rise of technology, there are now a plethora of tools and strategies that retailers can use to create a more enjoyable and engaging experience for their customers. In this blog, we’ll explore some of the latest tech trends that retailers can leverage to build better customer relationships and foster customer loyalty.
Digital Platforms
Digital platforms are becoming increasingly popular for retailers who want to engage with their customers.
By leveraging digital platforms, retailers can create personalized experiences for their customers and keep them engaged.
This can include tailored product recommendations, loyalty programs, and other rewards-based programs. This is an effective way to foster customer loyalty and encourage customers to return to the store.
Starbucks is just one company that’s grown a large and loyal fan base with its Starbucks Rewards loyalty program. The company told investors in November of 2022 that in the last quarter alone, its loyalty program grew 16% to 28.7 million active members in the U.S. It’s also trying new technology to win over new customers. It’s testing a Starbucks Odyssey loyalty experience with Web3 that integrates NFTs into its loyalty offerings. Essentially, loyalty members play a game using an avatar and earn points and NFTs called “stamps” which can be bought and sold on the Odyssey marketplace.
Starbucks says it’s looking for ways to “recognize, surprise and delight” reward members. The founder and CERO of a Web3 agency, Lin Dai, told RetailBrew.com, “Fundamentally, Web3 technology enables community in a really beautiful way and has this very sticky engagement with consumers. Just about every brand would be interested in that.”
AI and Automation
Artificial Intelligence (AI) and automation are becoming indispensable for retailers who want to establish better customer relationships. By leveraging AI and automation, retailers can provide personalized recommendations and offers to their customers. This can help to build loyalty and keep customers engaged. AI and automation can also be utilized to help retailers make data-driven decisions about their customer base.
Social Media
Social media is a powerful tool for retailers to engage with their customers. Retailers can use social media to provide updates on their products and services, answer customer questions, and share customer reviews. This can help to foster customer engagement and loyalty over time.
Analytics
Analytics are essential for retailers who want to understand their customer base. By leveraging analytics, retailers can gain insights into customer behavior, preferences, and purchasing habits. This can help retailers to better understand their customers and create better experiences for them.
Security
Customers love businesses that take security seriously and protect their identification and credit card information. A study by MAGNA Media Trials and Ketch found 74% of people rank data privacy as one of their top values. The study also found that they value it more than equality, sustainability, or any other ethical issue.
Even more troubling, Venture Beat reports 60% of customers believe businesses routinely “misuse” their data.
Only 21% of consumers say they’re confident their data is only used for proper purposes.
So, consumers don’t just think companies are careless, they believe companies are actively ignoring the promises they make when they collect the data.
That’s why businesses need to use the latest technology to win and keep customer trust. Red Maple’s Clever Division can help you do that.
Clever Division’s revolutionary security software uses two-factor authentication to collect and confirm credit card numbers without ever writing the entire number to a database. That means there is nothing for cybercriminals to steal.
That ultimately reduces employee theft, hacks and breaches because all the sensitive information is scrambled, incomplete and useless to criminals. Best of all, Clever Division also lets your clients manage their own invoices 24/7 through a convenient and secure portal.
Mobile Applications
Mobile applications are becoming increasingly popular with retailers. By leveraging mobile applications, retailers can provide updates on their products and services, offer rewards and discounts, and provide personalized recommendations. This can help to create a more enjoyable and engaging experience for customers and build customer loyalty. For example, a mobile app can provide data that’s more individualized, and comprehensive than a desktop because the user is driven to stay loyal with personalized experiences like early access to products, coupons, sales, and invitations to special events.
Voice Commerce
Voice commerce, which is a type of e-commerce that allows customers to make purchases by speaking, is also becoming a popular trend with retailers. While it’s still in the early stages of development, many companies are investing in it because they can provide customers with a more convenient and engaging experience. For example, a customer might say, “I want to buy some new shoes.” The voice assistant can understand they want to buy shoes and send them to a relevant page on your website.
The technology uses natural language process to interpret the person’s words. It also uses artificial intelligence to learn more about the customer’s preferences and purchase history in order to provide more personalized recommendations. This technology is beneficial for the disabled and people multi-tasking who may be doing something else with their hands. Voice commerce is a promising new technology that experts say “has the potential to revolutionize the way we make purchases.”
Augmented Reality (AR)
Augmented Reality (AR) is another tech trend that retailers are beginning to explore. AR can be used to provide customers with an immersive shopping experience. Through the use of AR, retailers can create interactive shopping experiences that engage customers and enable them to explore products in a more engaging way. This can help to foster customer loyalty and improve customer relations. AI has greatly transformed how shoppers buy and interact with retailers. Chatbots are one of the oldest AI automation tools, while virtual personal assistants are helping shoppers with various tasks. AI also makes it easy for businesses to collect data about customers to then recommend products, saving them time. According to Forbes, Lowes uses robots to help customers find items, Walgreens uses AI to track the spread of flu, Sephora’s AI Color IQ scans customers’ faces and provides personalized recommendations for foundation and concealer shades and Taco Bell allows customers to order food using AI with a program called Tacobot.
New technology, already being used by businesses across the world, can help make your customer fall in love with your business this year and create a lifelong relationship.
FAQs
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How can technology help build customer loyalty and engagement?
Customers want to know they’re appreciated. That’s why technology that tracks your best customers, such as on a mobile app, can make the user feel valued. Use the app to push loyal customers discounts, deals and notifications about new items before anyone else receives the information.
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Why should my business invest in new technology for security – can’t cybercriminals ultimately get to all of it no matter what we do?
Actually, no. There is now new technology that safeguards your customer data called Clever Division made by the software company Red Maple. It provides a secure and flexible method of processing credit card payments while protecting your customers and your business by using the most secure PCI platform on the market today.
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What is the most popular new technology being used by retailers now to gain customer loyalty?
By all accounts, it’s artificial intelligence (AI). Think about chatbots answering customer questions, AI automatically generating personalized emails that re-target customers, and virtual personal assistants. All this technology saves money on hiring live customer service agents and offers shoppers a more customized experience, increasing the chances they’ll turn into repeat customers.
