Top 5 New Year’s Resolutions for Retail Owners
Every successful business owner understands that long-term success depends on hard work, steady growth, and effective strategizing. While 2014 may have been a great year for your business, that’s no guarantee that this year will follow suit. Stay on trend and keep the momentum going with the following New Year’s resolutions for your business:
1. Roll out Apple Pay. While the Apple Pay rollout is still fresh, its adoption by major retailers like Target and Macy’s continues to rise. For many consumers, the choice to use iPhones to ring in purchases offers additional security, flexibility, and a better shopping experience overall. And according to CIO, once you’ve earned those customers, it’s harder for competitors to steal them.
2. Enable online sales. U.S. e-commerce growth now far outpaces overall retail sales, Business Insider reports. Up to half of U.S. shoppers shop exclusively online. If you’re still waiting to get your e-commerce site up and running, make it a resolution to do so this year. E-commerce sales can lead to wider reach, higher sales numbers, overall cost savings, broader advertising potential, and greater convenience for your customers.
3. Offer a New Year’s promotion. Utilize the energy of a new year to generate steam and achieve a boost in sales early on. Got a new product to roll out? Offer limited time discounts on your old products. Since customers are focused on resolutions of their own, tie in your new line with concepts like getting in shape, eating healthy, or setting personal goals.
4. Improve your email marketing campaign. Every email your business sends can potentially be forwarded to a far more expansive network of people. Make it a point to grow your email list this year. Expand your audience using affordable, effective techniques like weekly newsletters, website linking with like-minded businesses, and even simple touches like a paper sign-up list at the check-out counter.
5. Start a loyalty program. Consumers love free loyalty programs that reward them for shopping. Wise retailers, in turn, understand that valuable perks, from customer retention to growing your customer database, easily justify the effort of launching one. With the average U.S. household participating in 21.9 loyalty programs, this resolution should be at the top of your list!
Revel’s Loyalty & Rewards program offers a straightforward marketing and promotional tool for retailers. Effortlessly create and manage customized rewards cards from your management console. You can even implement environmentally friendly options like 10-digit set-up or multipurpose cards that can be used for gifts and rewards.