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Gut Check For Retailers

Posted By Jeffrey Eisenberg On October 14, 2008 @ 8:40 am In Conversion Rates,Marketing 2.0 / Web 2.0,Retail | 8 Comments

Customers have changed, and not just because of the economy. Simply because something worked in the past is not sufficient reason to believe it will work now.

  • Customers will look for reasons not to buy.
  • Retailers will offer incentives.
  • Customers will look for value.
  • Retailers will offer promotions.
  • Customers will look for more information.
  • Retailers will ask their customers to provide content.
  • Customers will hold retailers responsible for their entire experience.
  • Retailers will continue to work in silos.
  • Customers will find new favorite retailers.
  • Retailers will look for new traffic.
  • Customers will demand more from each visit.
  • Retailers will focus more intensely¬† on the +/- 3% they convert instead of the 97% they don’t.
  • Customers have changed.
  • Retailers…

Will retailers finally focus on optimizing their customer experience and improving their sales conversion rates? Many, perhaps most, won’t. It’s hard to build a culture of continuous improvement, especially under pressure. Some, a few, will. They will not only survive but they will also improve their market share and profitability.

We do work with a lot of retailers who are already devoted and several who we are helping to adopt a culture of continuous improvement. Still, it’s a relatively small sample size. Am I too pessimistic? Nothing would make me happier than to be wrong.

I welcome your feedback.

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