Relationship retailing is a strategy adopted by retail businesses to increase customer loyalty and to create a relationship with their customers. There are different relationship retailing strategies and tactics that businesses can use, depending on their needs.
It is very important to increase customer loyalty because loyal shoppers are the ones that make the biggest purchases and have the biggest LTV (lifetime value).
Relationship retailing tactics
Before you decide that relationship retailing is the best approach for your business, you should take a look at the most important tactics used to create a relationship with customers.
- Loyalty programs
Loyalty programs are great tactics because they use few resources and are easy to implement. You can use an app or a simple loyalty card and offer customers a free product or special merchandise when they purchase a certain amount of products.
- Amazing customer service
For relationship retailing is not just solving problems it’s much more than that. You will have to always be available for your customers, offer them alternative products when they can’t find what they need, and keep in touch with them.
- Personalized offers
If you want to create a relationship with a customer, you need to think about their needs and wants. Providing personalized offers is a great way to connect with customers and increase customer satisfaction.