Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Every customer should be treated as an incentive seeker

The right offer can make anyone switch brands or stores

RetailMeNot commissioned the study to evaluate the current state of discounts and offers throughout the consumer shopping journey. The results show the continued importance of discounts for today's savvy shoppers, and highlight new opportunities for retailers to gain new customers, increase customer loyalty, and drive additional revenue.

While the retail industry continues to evolve, one thing remains true: discounts are important for driving purchases. Today's shopping journey is often predicated on a coupon or discount sparking the intent to purchase. In fact, shoppers agree that discounts can influence where they shop (77%) and speed up the decision-making process (48%), even more so than good customer service and selection of products. Additionally, two-thirds of shoppers will either not shop without a discount or will look for discounts before they begin shopping.

The data also shows that across all categories, brand loyalty is up for grabs based on available discounts. More than half of shoppers (55%) have abandoned a shopping cart due to costs being too high and a third of shoppers (32%) have abandoned because they found a discount with a different retailer.

"While some things continue to change in the retail landscape, the incremental gains retailers can garner from a smart promotional strategy remain the same," said Marissa Tarleton, chief marketing officer, RetailMeNot, Inc. "Shoppers are feeling optimistic and ready to spend, but crave discounts to feel they are using their money wisely. These deals can then drive other positive behaviors such as speedy decision making and increased brand loyalty."

Shoppers increasingly turn to streamlined channels that make finding discounts easier. In fact, 71% of shoppers want one savings destination for all of their discounts or offers. The popularity of savings apps has grown the most since a similar study Forrester Consulting conducted on behalf of RetailMeNot in 2014: 38% of shoppers say they use savings apps today, a twenty-eight percentage point increase from 2014.

To receive product recommendations or specific offers, today's shoppers are willing to trust retailers with personal information. More than half of consumers (60%) will tell retailers the types of products they like if asked, and 52% are willing to receive in-store texts with discounts while they are shopping in a physical store.

"To win with today's customers, retailers need to keep the basics of smart promotional strategies and streamlined experiences in mind," said Tarleton. "By continuing to weave smart promotional strategies into everyday marketing tactics, retailers can stay top of mind for consumers and ahead of the competition."

The full study has been made available for free download from RetailMeNot's web site: http://www.rmn.com/ForresterTLP2018

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)