Would you believe that most retail marketing budgets around the world are targeted toward new customer acquisition rather than existing customer retention?  If you find it hard to believe, take a look at the accompanying resource coupled with this post. As you’ll come to notice, these retail organizations have a tremendous 60% to 70% chance of selling to their existing customers, but only a 5% to 20% chance of selling to a new one. This is a trend across nearly all retail organizations, yet even some of the most experienced retailers refuse to adjust their strategies to maximize their investment.

Should your organization be ignoring the best-known source of return on investment? Most certainly not!

If you are looking for creative ways to produce dynamic revenue growth, the accompanying resource is the perfect place to start your search. By weaving online and in-store techniques, you can give customers an enhanced shopping experience in the store and online by promoting personalized, relevant and appealing offers for related products (cross-selling) and better ones (upselling).

In order to get customers into retail stores, businesses must be willing to adapt to the omnichannel nature of communication. Omnichannel marketing has become immensely successful and the infographic details a number of ways in it can benefit any business. Digital marketing is not only effective at drawing new customers in, though. It’s also an effective method of selling to customers in store.

Bringing digital marketing into the store is a powerful and highly effective tool for several reasons.

It’s best to begin with considering just how long customers are present in retail stores. On average, these customers spend perhaps 15 minutes to an hour in any given retail store. That said, customers can interact with your brand much more frequently and for a longer total period by visiting your social media pages and your online store, and by engaging with your email and text communication. Alerting customers digitally to an in-store sale of a product related to one they have already purchased stands an excellent chance of bringing them into the store now — and then purchasing that related item.

Online sales techniques also allow for an elevated level of personalization. Providing personalized experiences or suggestions in store can be difficult, but with the right algorithm, personalized product recommendations online can be more precise for the sake of the customer.

Third, digital techniques used in the store can put the marketing message in the closest possible proximity to the action you want the customer to take. For example, if you have a screen displaying positive customer reviews of a refrigerator at the end of the refrigerator aisle, you’re virtually guaranteed of reaching the right customer at the right time.

A retail organization’s success if often derived based on how effective it is at attracting customers back into the store for additional purchases. This is made abundantly easier through the use of these sales techniques and omnichannel marketing strategies. For additional tips and tricks on how to simplify this process, be sure to check out the infographic accompanying this post. Courtesy of IDL Displays.