This infographic illustrates the value of returning customers by summing-up key takeaways from recent articles on the subject. It highlights why investing in customer retention should be of equal importance to acquisition. This is even more prevalent in digital commerce as customer loyalty levels are lower for online retailers.
By adopting multichannel strategies, malls can offer rewarding shopping experiences to the connected consumers. Digital technologies and customer oriented marketing provide mall operators with new means to increase footfall and become more relevant to their retailers.
Loyalty programs: creating returning mall traffic
A loyalty approach enables a mall to develop a valuable customer database and share marketing operation efforts among its brands. Mall operators such as Unibail worldwide and So Ouest or Qwartz in Paris created simple but very effective loyalty programs. Their objective is to bring more loyal traffic to their retail clients and mutualize digital efforts on the web and mobile.
In Europe, these loyalty programs mostly base their marketing promise on services and benefits such as free parking, private sales as well as coupons and discounts.
The objective is to create distinctive services and offers that make customers feel valued and incentivized to frequently engage with the mall and its brands. Even premium malls, such as Le Bon Marché, are introducing loyalty programs to enable personalized communication with their customers.
Loyalty programs are structured social marketing efforts that reward, and therefore encourage, loyal visiting and buying behaviour. This targeted and incentivized behaviour should be beneficial to both customers and companies.
In terms of loyalty, understanding pre-purchase moments is more important than the purchase itself: customers want to be recognized and perceive their interactions with a brand are valued more than just for the purchase they make.
When planning a new app, the current trend is to keep it simple and focus on its effectiveness to meet business objectives
Multi-purpose apps are progressively being abandoned as connected-consumers increasingly favour micro-interactions with specialised apps. One of the most eloquent illustration of this trend is Facebook’s “unbundling strategy”. The social media giant is moving away from multi-purpose apps (which they call “the portal syndrome”) and is now acquiring or developing a network of specialised apps, with very specific sets of functionalities: Paper, Instagram, Whatsapp to name a few.