The Wide Open Opportunity for Small to Medium-Sized Retailers
While other industries continue to talk about digital transformation, some forward-looking retailers have been there, done that and bought the t-shirt online with next day delivery. Yet, there are still many in the industry wondering where to start. It seems the disruption is long, drawn-out and far more complex than simply moving from the high street to the internet.
As a result, many larger retailers are now sophisticated in their use of technology and of customer data reporting to define target market segments, improve customer service, enhance customer loyalty and increase total customer lifetime value. They are also uncovering ways to gain a single view of the customer, regardless of the channel of approach – the focus has shifted from silos of customer data to a multichannel and now an omnichannel service, orchestrating the customer experience across all channels so that it is seamless and consistent.
Smaller retailers may not have the same budgets as the large household names, but they still have to compete on a level playing field. Yet their size can work in their favour too. These days, we are told that consumers are looking for an ‘experience’ and to ‘live the brand’. To drive this level of loyalty they have to be as close as possible to their customers to offer a tailored, personalised experience; something small firms can achieve so much easier than the limits of their larger counterparts. They also have the potential to be far more agile in their interactions with customers and more responsive to market changes, with no cumbersome legacy IT systems to slow them down. Consequently, the field is still wide open for those prepared to take the necessary steps.
Download our whitepaper and talk to a Ceterna Group expert about how we can guide you on the setup of an omni-channel Salesforce solution and transform your retail business today.
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