Shoptech Media: 5 Ways How to Genuinely Care For Your Customers

Shoptech Media: 5 Ways How to Genuinely Care For Your Customers: Genuinely care for your customers because just like everyone else, your customers wants to know they mean something to others. Take time o...

5 Ways How to Genuinely Care For Your Customers

Genuinely care for your customers because just like everyone else, your customers wants to know they mean something to others. Take time out to communicate what they mean to you.
Customer appreciation is often viewed as a lost art. But it is a great way to retains customers. Keeping loyal customers affects your ceiling and is way less expensive than getting new ones. Smart businesses know that showing customers how much they genuinely care is an opportunity to win people over for life.
We don't want our customers get dissatisfied with our business and lost them, right?

12 Key Causes of Customer Dissatisfaction That is Bad For You Business

Below, we’ll take a look at five genuine ways to incorporate customer appreciation into your support routine without skipping a beat.

1. Personalize your customer service

There are many ways to personalize your customer service to show you genuinely care for them. Check out some examples below to get you started:

• Use their names, first name that is. Don't just say Mr so and so. Address them like you would a friend. You don't call you friend by their last name, right? If the name is John Smith, address him as John. Not Mr. Smith or John Smith.
• Smile and make eye contact for more personalized customer service. This is particularly true with a physical store, but would be different with ecommerce. However, people know when you are happy to be with them even if they are not physically around. It shows in the way you type what you are saying or in the choices of your words.
• Implement a loyalty program. Loyalty programs like , unique offers in exchange for reward points. Special rewards for referrals for instance is a great way to reward customer loyalty. Or you can perhaps roll out a bonus point campaign. Another great idea is to organize a prize draw for your loyalty members. Plenty of them ideas out there.
• Be human. This one is just that, be a better human being. A lot of times, we are so caught up with making sales that we forget the humanity side of business. There is more to life than just making sales, to put it simply.
• Make recommendations. When you are not able to provide the resources your customer is looking for, do not hesitate to make a recommendations. Recommendations does not only for resource, it can also be done in behalf of your customer.

2. Send a handwritten thank-you note

Never underestimate the importance of two little words: thank you. For your ecommerce business, these two words can boost the mood of your employees, encourage brand loyalty among customers, and nurture relationships with suppliers and professional partners.
A simple little thank you note can make your customer feel loved and send their lifetime spend through the roof.
Sending business thank-you cards benefit organizations across a range of industries. Any business that deals with members of the public can find opportunities to say thank you with a card. It is one of the most doable way to genuinely care for your customers, yet so few do it.

Customer appreciation is an investment in yourself. If you’re reluctant to spend the time and effort into sending out thank you for your purchase notes, consider it an investment.

3. Check in with customers

The Internet has made it simultaneously much easier and much harder to check in with your customers. The logistical side of checking in is miles easier than it’s ever been — you’ve got loads of options, and you can instantly connect with people pretty much anywhere in the world. But you’ve got to get a little more creative, both in your medium and in your delivery. We then got a great piece of advice:

Only reach out to customers with a value add.

Check in with customers through email, and social media. I find social media to be more effective as it is not that intrusive.

4. Don’t let red tape get in the way

When an organization is bogged down by restrictions and policies or there are inefficiencies within the administrative workflow, service really takes a hit on the chin. Your business is obviously not the government. Why so many rules? Why so many hoops?
It’s time to cut away everything that stands between you and your customers. Making it easy for them to do business with you will make it easy for them to recommend your product or services. Dont hide behind your company policies. A good way is to make things simple for your customers to transact with your business.

5. Recognize unique opportunities

To be successful ecommerce merchant, we need to be continually innovating and looking for opportunities to grow our business.
How do you find new opportunities to take your startup to new markets and growth levels?
When you’re targeting potential customers listen to their needs, wants, challenges and frustrations with your industry. Have they used similar products and services before? What did they like and dislike? Why did they come to you? What are their objections to your products or services?
When you’re talking to your customers listen to what they are saying about your industry, products and services. What are their frequently asked questions? Experiences? Frustrations? Feedback and complaints? Things like that goes a long way to show you genuinely care for your customers.
Additional resource for ecommerce growth:

Help Grow Your Business With These Powerful Life Tips

3 Simple Tools You Can Start Using To Get More Sales from Repeat Customers

Shoptech Media: 12 Key Causes of Customer Dissatisfaction That is ...

Shoptech Media: 12 Key Causes of Customer Dissatisfaction That is ...: Customer dissatisfaction is a bad bad sign for your ecommerce business. Our customers and clients are the lifeblood of our business, keeping...

12 Key Causes of Customer Dissatisfaction That is Bad For You Business

Customer dissatisfaction is a bad bad sign for your ecommerce business. Our customers and clients are the lifeblood of our business, keeping them happy is of utmost importance for ecommerce merchants or any aspiring retailer. Can you imagine your body running our of blood? Because that is what dissatisfied customers do to your business.
I ask a question on social media about this, and the answers where eye-opening. I wasn't surprised, but it opens up a lot for me particularly, regarding the causes of customer dissatisfaction.

Here are 12 Reasons Why Customers are Dissatisfied

#1. Misleading or Incomplete Product Details

A lot of sellers and retailers out there knowingly or maybe unknowingly, provide incomplete and sometimes misleading product details and information. As a seller and doing ecommerce business, play fair with your customers, after all, they are the lifeblood of your business. Keeping some of your fees hidden and uncovering this in the middle of purchasing process is a frequent reason for a human to complain. Practices like this ultimately gives customers the impression that company is cheating its customers.

The rule of thumb is just to be honest with your customers and buyers! If adding a feature means added cost, mention it in the description. If the product quality cannot match customer expectation, let your customers know about it. Giving Incomplete details or exaggerating product features is a leading cause of customer dissatisfaction.
These next two reasons for customer dissatisfaction can be joined into one, but I thought it would be helpful to break them apart.

#2. Slow Service is another cause of customer dissatisfaction

People want to know that when they approach you and your business, they’ll be able to get what they want as fast as they can. For instance, if a customer goes to a hairdresser and waits 60 minutes before they get a haircut, they’re more likely to go to the next one down the road.
Here at Shoptech Media, it is our mantra to act on customer request no more than 24 hours. Do the job the shortest possible time. If your company has a recurring problem of slow service, you may want to reassess your staffing. Recruiting more people can help you meet customer demand efficiently.
Alternative ways to make services faster are plenty. Some restaurants avoid bad service by offering buffets, where people can eat first and pay later. Most supermarkets now offer self-service checkout, allowing people to get in and out quickly. These are just a few of the brick-n-mortar ways but the idea is the same for ecommerce business. Get your services as fast as you can is one of the best way to avoid customer dissatisfaction.

#3. Customers are easily dissatisfied with Slow Delivery

Two weeks is the maximum estimated time of delivery wherever the origin of your product is. Beyond that, and it's a negative for customers. Businesses dealing in sending out items to customers will need to ensure their delivery services are on point. Just like with service, if customers have to wait a long time for an item to be sent out, they’re unlikely to shop with you again. I won't for sure!
One of the best ways to handle deliveries is to outsource the job. Fulfillment companies can be a godsend when it comes to keeping customers satisfied. Most fulfillment services will store goods for you, then quickly ship them off when needed.
It’s best to offer multiple delivery options. Some customers will want to pay extra for tracking or one-day delivery. Making sure customers get their goods or services quickly and without any loss in quality will keep them happy.

#4. When You are Difficult To Contact

To deal with customer complaints, you must make your company easy to contact. Stores often have receptionists or friendly customer service reps to resolve any complaints quickly. You should also offer fast and efficient phone service. Customers who have to wait on hold for a long time will only become more enraged.
You can integrate a 24/7 web help desk on your site and hire reps to staff it. Another easy way to bring your customer service another level is to use social media.  Sites like witter and Facebook Messenger can be used to handle customer complaints creatively. Make sure it’s easy to get in touch with you so you can resolve problems before customers defect.

#5. Poor accessibility is a major source of customer dissatisfaction.

Online accessibility is huge for today's businesses. More and more people now shop from their computers and portable devices, so this is especially important. Ensure that your website is optimized for all browsers, as well as smartphones and tablets. Make it easy to navigate and pay for your services. You may want a professional web designer to handle this for you.

#6. When You Breaking Your Word

Another cause of customer dissatisfaction is not being true to your word. Ecommerce business is about integrity. Regardless of whether you make it explicit or not, your products and services come with a promise attached: that they will be delivered professionally, on time and at the price indicated.
Your customers may not say it to your face but that disappointment and feeling of being short-changed will lead to them walking out the door. You are essentially breaking your word in the eyes of the customer.

Not keeping a promise is basically lying.

#7. Bad Quality Of Products Or Services

One of the most important parts of your business is offering the highest quality possible of products and services. If customers find something wrong with what they are given, you should offer apology for it and resolve the issue with a refund or replacement as soon as possible.
Make it clear to customers what kind of quality they can expect from your offerings. If you fail to deliver, then you owe them. For physical products, you should describe what condition they will be in. For services, let customers know exactly what they will get for their money.

#8. Profit-oriented business rather than customer-centric

In order to build and grow a base of loyal customers, you will need to listen to and value your customer's opinions. Put their best interests before your business. Even if you don’t think you’re in the wrong, an apology, a refund or some free gifts can go a long way.

#9 Rude and unfriendly customer support staff

There is a boom in “undercover shopping” services worldwide for a very good reason. It’s all too easy for staff at all levels to paint on a smile when they know someone is watching them. What counts of course is what happens in the thousands of unobserved customer interactions that take place every day.
The default tone of anyone working in your company should be pleasant, helpful and courteous. This is something that needs to be rigorously watched – all it takes is one bad apple to lower the overall impression of an entire team.
Customers rightfully expect a base level of civility in any encounters with your company. Fail this test and they won’t be back anytime soon.

#10. Sales Staff are Pushing too hard

Look, we all know sales is about persistence. Sometimes though, sellers don’t know when to slow down on that persistence and actually repel the client away.
Pushing too hard often times alienates customers who may be otherwise very happy with your services. The tone you take is equally crucial, it needs to be in keeping with your overall offering.
Use your judgment, ask questions, and observe past buying behaviors, especially if you are selling to existing clients, to best gauge when it’s time to stop pushing. Remember, just because the time isn’t right now, doesn’t mean it’ll always be that way.

#11. Limited Payment Options on checkout

Making it as easy as possible for your customers to pay is essential for increasing conversions and sales.

Easy Payment Process That Makes Customer Complete Purchase

This is why your checkout page is critical. It’s the final stop for people shopping on your website. It’s the place where they hand over their credit card information and finally part with their hard-earned cash.

Offer multiple payment options and make it easy as possible for your customers.

#12. Not able to match competitor

Consumers are looking for the best value. Value incorporates price, but it also includes benefits. Sometimes, for whatever reason, you will simply not be able to match a competitor’s offering for a particular product or service.
It goes without saying that surveying your competition should be a regular part of the marketing strategy of any business in order for you to have a clear picture of what you’re up against in the wider market.
If you are not able to match your competitors price, the best thing to do is to focus on value. Present your products to carry benefits over and above those of your competitor who is charging a lower price, you can justify the higher price. In fact, lowering your price might hurt you by masking the value that you are providing your customers.

12 Key Causes of Customer Dissatisfaction That is Bad For You Business

Shoptech Media: Smart Ways To Improve Customer Retention For Your ...

Shoptech Media: Smart Ways To Improve Customer Retention For Your ...: If you have to allocate resources for your ecommerce business, developing and building loyal customers is practically the most important a...

Smart Ways To Improve Customer Retention For Your Ecommerce

If you have to allocate resources for your ecommerce business, developing and building loyal customers is practically the most important area you can spend more on. But what can you do to make your customers stick around for the long haul? Here are five smart ways you can do to improve customer retention:

1. Sell more to your existing customers.

Discounting, promotions and active sales efforts can deepen existing customer relationships and entice them to purchase more of your products. In addition, increasing investments in education, training and marketing your products to individuals at a customer site can increase usage, further deepening the relationship.
The most common tactics used here are the basics of cross-sell and upsell. Both of these are good approaches.
There are a wide a variety of other strategies that can be used, many ways to implement them, and little need to just focus on cross and up-sell.
For instance, a company can also deliver customer value through down-sell and usage stimulation. Take for example a Bank that, instead of sending more product cross sales offers, sends credit cards to customers and offers to increase in their credit limit. They know that, on average, when  a customer’s credit limit goes up they will use at least some of that extra limit. This then is usage stimulation: same product, more sales.

WARNING: There is a tendency for companies to over use upselling and cross-selling. This can result in a negative impact on customer relationships.

2. "Red flag" high-risk customers and act quickly to retain them.

Build a process in the organization to actively monitor customers for the early warning signs of attrition – e.g., decreased usage or an increase in customer service calls. Develop specific campaign strategies to retain the most attractive ones.
After you establish your baseline or your starting point. Do the following:

PLAN: Plan your improvements, including setting goals.
DO: Put in place the actions required for improvement.
CHECK: Measure your success relative to your baseline.
ACT: Adjust or tweak your changes.

3. Address key sources of customer dissatisfaction.

Poor service can cause 78% of customers to give up on dealing with you altogether. Only 4% of dissatisfied customers complain. The rest will disappear seemingly out of nowhere. You’re up to 70% more likely to sell to an existing customer than a new one, so increasing customer retention is vital.
For instance, improving the accuracy and clarity of your billing processes can go a long way toward minimizing customer angst. Increasing the power of the service organization and the sales team to address customer complaints promptly and offer retention-oriented promotions are other ways to appease dissatisfied customers.

4. Resist downward pricing pressure among existing customers.

Slow your discounting as much as possible to improve margins while minimizing attrition.
In the highly competitive marketplace we hear dreaded phrases like, "Your fees are too high; can you do it for less?",  all of the time. The easy thing to do is to offer a discount, but that cuts into your profit margins and sets a precedent for the future.
What you can do when clients push back on your fees is to focus on your value. It's trite, but true. If it's worth it to the client they'll pay for it. But when faced with price push back, many are at a loss for what to do at that moment. Don't backtrack or talk about cost structure.

5. Focus your customer reward and incentives.

Reorient your field sales incentives to reward acquisitions of customers in key segments that exhibit the most "stickiness." Here are a few things you can do this:

• Celebrate your customers. ...
• Create an early-access program. ...
• Ask for customer feedback. ...
• Invite customers to a special event. ...
• Offer a referral bonus or reward for recruiting new customers.

Additional Resource
As you think about growing your customer base in the year ahead, remember that keeping your current customers happy plays a big role in growing your customer base.

In Conclusion

Building these steps into your operations will help you to significantly improve customer retention metrics and create significant value for your business.
Additional Resource on Customer Retention and Loyalty

3 Simple Tools You Can Start Using To Get More Sales from Repeat Customers

Double Your Sales with Customer Loyalty Programs

Best Pricing Strategy For Your Ecommerce Products

Choosing the best pricing strategy is a critical factor in retail because everybody wants to maximize the difference between a product’s value and what they pay for it. This is more true especially in the ecommerce world where customers can easily compare prices.
Today I am going to be delving into another area of ecommerce, the product pricing. The question we are going to be dealing with is, how are you going to price your products? Or, what standard do you use to price your product? Is there a better pricing strategy that you can use to give your product a competitive price?
Let’s look at some of the best pricing strategies retailers use to decide the prices of their products.

Suppose we consider an item bought from a wholesaler for $10 per item—how much should you charge a customer who wants to buy your $10 product?

5 Pricing Strategies You Can Use In Your Online Retail Business

#1. Doubling the cost paid for the product.

The retailer doubles what they paid for the product, and that’s the price they charge customers. The retailer puts a 100% markup on their products. An item that costs $10 is obviously sold for $20. Doubling the cost paid for the product, is what we call "Keystone pricing" strategy.
This gives a gross profit margin of 50%. The net profit is lower because  marketing costs and other overheads is not taken into account yet. The net profit from this type of pricing strategy is acceptable. Many retailers use this pricing strategy because it is simple, it is easy to decide how much to charge.
Keystone pricing is an effective way to establish a baseline, a reasonable price point that can move up or down depending on other factors.

The downside to this pricing model are the following:

• it ignores marketing cost and overheads cost,
• removes competitor pricing totally out of the picture.
• some products won’t sell at double the amount a retailer paid, especially when alternatives are readily available.

Keystone pricing may not be the best pricing strategy but it is the simplest to implement.

#2 . Accounting for cost and overheads formula

Many retailers use a more complex method that accounts for cost, overheads, and an acceptable profit margin. If we’re happy with a 20% net profit, and we spend an average of $5 on marketing and customer acquisition for every sale, and our overheads are $2 per sale, we’d charge the following:

($10 + $5 + $2) * 1.2 = $20.40

It’s easy when we’re making up figures, but it can be challenging for a business to itemize its costs and overheads. And, once again, this pricing model fails to account for the competitive landscape. It’s a viable model for stores that sell unique goods that aren’t available elsewhere, but if you’re in a competitive market, both of these models might leave you trailing the competition.

#3. Account for competitors price

On the web, it’s easy to compare prices, and price comparison sites are everywhere making it more and more easier to compare prices anytime. A smart merchant accounts for competitors prices when applying product pricing.
The easiest way to do this is to build a list of your competitors, track what they charge for the products you also sell, and make sure your prices are always the same or lower than theirs. Some sectors act this way, but the result is almost always a race to the bottom and razor-thin margins. Businesses that depend entirely on price competition are in a precarious position.
Accounting for competitors price is not the best pricing strategy but it is better than keystone model and accounting for the overhead and marketing cost strategy.

#4. Identifying key value items (KVIs) and product groups

Some products are more likely to figure in customer value calculations because they are more memorable or essential.
Products that attract traffic should be closely monitored. Again, these may not be your most profitable products. For instance, a widget store may make more money from widget accessories than from the widgets themselves, but it’s the widgets that drive traffic. Once they have bought a widget, customers are far more likely to buy the accessories, whether or not they are priced to undercut the competition.
After having identified the most important products in their market, retailers track the prices of those items on specific competitor’s sites and adjust their prices to match or undercut the competition. In some cases, it is worth reducing the price of KVIs beneath the level at which they generate a profit.

#5. Premium pricing

Apple is a prominent example of premium pricing. Their laptops cost more than their competitors’ for equivalent specifications, and their high price is a signal of quality. That signal is backed by Apple’s manufacturing perfectionism, but the company has margins that are higher than any other phone or computer manufacturer.
Premium pricing establishes a product as high-value in the minds of customers. It’s useful when used in concert with branding and marketing strategies that emphasize quality and luxury over cost. It can also be useful when customers struggle to attribute a real value to a product: Diamonds are worth whatever people will pay for them, regardless of whether they are intrinsically valuable.

In conclusion

The best pricing strategy takes into consideration all the factors. Not only net gain, but more importantly customer satisfaction.
Additional resource you might be interested:

6 Time-Tested Ecommerce Marketing Strategy That Works Everytime

Easy Steps to Build Your Own Business Website

20 Best Ecommerce Suppliers for Your Online Store

5 Indispensable Ecommerce Features Your Shop Should Have