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Customer Retention. Automated

NRF 2015 Takeaway

Posted by Chelsea Raegen on Jan 21, 2015 9:44:00 AM
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NRF’s flagship industry event, Retail’s BIG Show, held annually in New York City kicked off Windsor Circle’s first trade show of 2015. In it’s 104th year the event topped out at 33,000 attendees and the Windsor Circle team made an appearance clad in the well-known green pants.

Known in the industry as the event to attend to see and experience all things Retail, it didn’t disappoint. There were a few key themes that made an appearance in many of the sessions that were clearly relevant to retailers of all shapes and sizes.

  1. Show Your Loyalty: Not new news, customers want more personalized experiences that prove their business is appreciated. Retailers want loyal customers, but their customers also want loyal retailers. To create these personalized connections retailers must find the right balance between collecting data and utilizing it to offer these experiences without appearing too overbearing.
  2. Show Your Emotion: To further connect with your customers you should include a little human-like interaction. Try a funny image or subject line, create your own business-related season (May is Mulch Month) or along with your half-off Merlot sale, offer a recipe for a dinner sauce that goes well with those 4 bottles they’re likely to purchase. One speaker shared that 80% of your emails should be relational and only 20% should be promotional, a ratio not often used by retailers.
  3. Show Your Social Capabilities: Use social media to be just that, social! Use this interface to interact with your customers and cut through the numerous discounts and offers they already see. Another way to utilize customer interaction on social media is to engage them with contests. Connect your email marketing and social through contests and you’ll see unbelievable results. Windsor Circle client, TeeTurtle, has seen a 32% open rate and a 6.7% click rate from inviting new purchasers and subscribers to connect with them on social media.
  4. Show Your Risky Side: No, not your risqué side, your risky side! Just taking a look at the NRF expo floor year after year you can see how many new technologies are emerging that will help retailers keep and get more customers. Change is coming and with that more and more options become available for retailers. If you’re willing to take risks, you’re willing to reap the rewards. As Terry Jones, Travelocity.com founder and digital disruptor said during his keynote, the risk isn’t in embracing change; it’s in being left behind.

If there is one thing to take away from the hundreds of sessions during Retail’s BIG Show, it’s that retailers need to be focusing on developing a customer loyalty strategy.

Wondering where you can meet up with Windsor Circle this year? Check out our events page to see our upcoming conference schedule!

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