Catering to customers is one way to build a successful business. After all, you can stock the greatest merchandise or provide the best service, but if your customers aren’t happy you’re not likely to be viable for very long.
Multichannel Merchant, a publication that targets companies that sell merchandise through multiple channels, recently reported on how a strategically-planned and carefully-executed social media campaign can help boost a business’s bottom line. Summarized, they are:
1. Grow your business by reaching new customers through popular social media platforms like Facebook and Twitter that allow you to engage with existing customers while reaching new audiences. “Engaging with consumers in their own territory and answering questions in real time is a great way to stand out from your competition,” the publication notes.
2. Cut service costs while providing a better customer experience. According to the Harvard Business Review, it costs less than $1 per social media interaction with a customer versus $2.50 to $5 per email interaction and $6 per phone call. As an added bonus, HBR reports that almost 30 percent of social media users actually prefer social care to phoning customer service — and consumers with positive social care experiences are reportedly three times more likely to recommend the brand to others.
3. Build meaningful relationships and customer loyalty by building a solid customer service strategy using social media. “These channels offer up a unique opportunity to engage with customers in an authentic way, using language that resonates with your audience and builds lasting relationships with your target market,” according to the article. “Connecting with customers in a deep way amplifies your brand, increases loyalty and allows you to upsell.”
4. Optimize products and services based on candid feedback/questions/complaints from social media users. This allows you to stay ahead of the curve and provide the goods, services and payment methods that your customers want. For example, many consumers today are gravitating, either by choice or by necessity, to chip cards and NFC (including digital wallets) as their preferred way to pay. Merchants who offer a variety of electronic payment options are likely to attract and keep customers.
Customized merchant services for businesses of all types and sizes are available from TransFirst®. In addition to EMV® and NFC capabilities, we offer traditional POS, online and mobile secure payment processing. Additionally, check out our gift and loyalty card options — another great way to attract new business and reward your customers for their repeat business.
EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries. www.emvco.com.