To answer the headline: yes – but not as much as you may think. Arguably, food and experience are weighted equally in many cases. This is attributed to a number of factors such as a growing demand for unique experiences, increased popularity of story-driven eatertainment, and higher standards in quality of service. Experiential 75 percent of […]
Does the Food Really Matter? Read More »
Personalization is a retail trend that everyone is trying to figure out – and with good reason. Positive experiences with personalization can boost the number of items purchased, amount of money spent and net promoter scores, according to a BCG-Google Customer Survey. However, there are some pitfalls brands need to be aware of when developing a strategy to offer more personalized experiences. Pitfall #1:
Personalization Pitfalls Retail Brands Need to Avoid Read More »
Emotions drive the majority of our purchase decisions and most are at a deep rooted subconscious level. Our previous blog on neuroscience research reviewed the new tools available for marketers that are wanting a stronger understanding of how their customers feel towards various research stimuli. However, there are a variety of factors marketers and retailers can consider
Increasing Sales With The Five Emotional Levers Read More »
In the last decade, an ever-increasing share of the consumer market has been moving online. Although e-commerce sales have yet to eclipse brick-and-mortar retail transactions, the integration of young millennials and Gen X consumers into the market has pushed the trend further into the digital world. While many core marketing principles still remain the same in the
Marketing in an E-Commerce Era Read More »
Customer Segmentation is the division of a specific market into buckets of customers who share similar characteristics. However, gone are the days that big financial institutions can afford to segment their customers by merely using demographic criteria, including age and income, or firmographic attributes such as industry or company size. With fierce competition from fintechs and
Useful Customer Segmentation Methods for Banks Read More »
Do you understand your customer? It’s no longer enough to just know their age bracket, gender, and general interests. Do you know what emotions they’re feeling while looking to satisfy their needs? What thoughts go through their head when walking through a retail store? What online platforms they browse and what time of day they
How to Develop a Customer Journey Map Read More »
96 percent of unhappy customers will not tell the business they are upset with – but will share their dissatisfaction with 15 friends. With the prevalence of how quickly negative feedback spreads on social media, it’s more important than ever to keep up with customer sentiments before it damages a brand’s hard-earned credibility. Simply put, it
Unique Ways to Gain Customer Feedback Read More »
With an ever-growing need for things that are faster, smarter and better, customers expect a lot from the brands that they support. Despite this, there are still dreaded friction points along the customer journey that hinder them from buying products and services, making them privy to abandoning their carts and falling right into a competitor’s
How to Avoid Customer Friction Points Read More »
Personalization is at the top of every retailer’s list of goals. Win in personalization, and you win loyal customers who spend more. As technology improves, it will become possible to go even deeper and provide customers with highly specific service. In this blog we will explore the top experiences in personalization that are currently available,
Innovative Trends in Retail Personalization Read More »
Saying that a company’s staff is the best ambassador to its brand has become incontestable. After all, who knows more about a business’ product, service, or culture than someone who works there? Consumers usually see the way an employee portrays a company as more credible than advertising or other marketing efforts. However, the company and
How to Turn Staff into Brand Ambassadors Read More »
Millennials are entering an important life stage for banks as this segment of the population is starting to build wealth while driving potential sales growth in financial products and services. As Millennials provide banks with continued growth opportunities, banks must understand their needs and expectations in order to create a strong affinity with these future wealth generators.
Banking on the Ultimate Millennial Experience Read More »
With 20.0 percent (24.8 million) of U.S. households falling into the “underbanked” market segment of the retail banking (2013 FDIC report), almost 25 percent of bankers see this segment as a growth opportunity. To serve the underbanked, there are several transformation opportunities in retail banking trends around process, structure and message worth considering. Process The first lever for
Retail Banking: Potential Transformations to Serve the Underbanked Read More »
