ATLANTA, GA / ACCESSWIRE / October 18, 2020 / The old adage, "the customer is always right," has always existed in the retail space, but with the rise of online shopping and convenience-focused services, this saying has taken on a new meaning. Customers expect to have customized products handpicked and delivered to them, with as few barriers as possible. Understanding the new meaning of convenience is essential to the success of any business, and no one understands this better than Deepak "Dee" Agarwal.
Deepak Agarwal has founded and led several successful online business ventures within the e-commerce space. Best known as the CEO and founder of the multi-category online retailer NoMoreRack.com, Agarwal has seen firsthand the importance of providing customers with a level of convenience that alleviates all the traditional headaches of shopping.
"When you are providing a service to your customers, you have to focus on where they are located and tailor your business to meet their needs, with the fewest complications possible," Deepak Agarwal explains. "Every inconvenience a customer faces is another potential opportunity for you to lose their business. Focusing on reducing inconveniences at every interaction is the first step to building customer loyalty."
Below are the top pieces of advice Dee Agarwal has for providing customers with the most convenient and enjoyable shopping experience.
Do the Research
While customers like to feel they are purchasing the exact product they need, the research they undergo to determine this can be daunting. "Before even addressing your customer, performing comparisons between your products and other brand's products is the perfect way to determine what is appealing about your product and best hone in on your value proposition," notes Dee Agarwal.
Once you establish the unique value proposition of your product, it's time to share it with your customers. "Sharing your products' points of differentiation with your customers not only establishes trust, but also positions your brand as a resource that customers will return to over and over again," says Agarwal.
Customer retention is one of the most valuable results of sharing information and context with customers, and research shows that increasing customer retention by five percent can lead to a 25% to 95% increase in company profits.
Optimize your Online Presence
E-commerce has been on the rise for the past decade. In the wake of the COVID-19 pandemic, it's forecasted to keep growing, set to occupy 23% of the market by 2023. Integrating your products and services into consumer social media feeds and allowing customers to shop directly within these apps and websites reduces the number of clicks it takes for a customer to purchase your products and expedites the process of getting your product directly into their hands.
"The developments in the online space are extremely important for every business to capitalize on," says Deepak Agarwal. "Not just with a strong social media presence, but also with a website that is optimized for the cleanest user experience possible."
Make Your Company Available
"Establishing lines of customer service is an essential part of providing convenience for your customers," says Deepak Agarwal. "There are so many ways of delivering customer service; the important thing is to find what is efficient for your business, while also providing as much access for your customers as possible."
You may not be able to have a fully-staffed call center or your own 1-800 line at first. However, having an established email of contact, social media support or a live chat service on your website are basic expectations of consumers in this day and age. Not only will this help satisfy your customers, but also it has a high chance of enhancing your business growth. According to research, 84% of organizations working to improve customer service operations report an increase in revenue.
Eliminate Friction at the Checkout
You may feel that once your customers have landed on your checkout page, your work is finished. In fact, it's far from over. According to research from Baymard Institute, 70% of customers abandon their completed shopping carts.
"Losing more than half of your customers in the final stretch is frustrating, but not unavoidable," says Deepak Agarwal. "Eliminate all potential barriers to smoothly completing a purchase and you'll be sure to retain more of these customers."
Purchase barriers to avoid include forcing customers to make an account right at the end of the checkout process, a lack of payment options, and not offering one-click purchases.
"Maximizing consumer convenience cannot be overstated," notes Agarwal. "Implementing a few small changes and features can mean the difference between a sale and another abandoned cart."
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SOURCE: Deepak Agarwal