The Fine Art of Customer Retention

Customer loyalty

Ask any marketer and they will tell you consumers are a difficult bunch. The shopper of the past was a brand loyalist. Today it seems everyone is a bargain hunter, or a novelty seeker, or a combination of both.

So what do shoppers want? In the past marketers tended to focus on the infamous 4Ps, product, price, promotion and place. In short the thinking was that all one had to do was create a product, price it correctly, promote it with zeal and ensure it was available in the right place. The 4P’s assume that consumers are rational beings, that logic will always carry the day. Maybe it’s time for a 5th P- putting people first, and by this we mean appealing not just to the logical brain, but the emotional core of the consumer.

Customer retention is about building relationships, not merely issuing loyalty cards or dishing up points. In the immortal words of Otis Redding,  maybe its time marketers “try a little tenderness.”

Consumers today are grateful for any relief in the shopping environment. Remember Selfridges Silence Room in 2012/2013? Its that kind of mindfulness of consumer need that makes it unsurprising that Selfridges has been named the world’s best department store repeatedly (in 2010 and 2012).

The fact is that relaxed consumers buy more and more often. One of the most surprising insights that we discovered when we tested our 3D animated illusions was from parents. Knowing that their kids were engaged for a couple of minutes, gave them breathing room to take a few minutes for themselves.

Currently under trial with several major retailers, our 3D in-store media innovation is generating fantastic customer feedback. The customers love the entertainment value and the new experience, which works for the retailers and brands, because happy customers equals loyalty and increased sales!

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