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Develop a mobile strategy for your retail chain

What proportion of your customers shop on their mobile devices? It’s probably more than you think, when you consider that mobile commerce sales globally are worth more than US$3.5 trillion annually, according to eMarketer data.

When it comes to calculating the return on investment of a mobile retail strategy, the figures really do speak for themselves. According to McKinsey, omni-channel consumers make purchases 70% more often and spend over a third more than people who shop exclusively in stores. Why? The bottom line is convenience.

 

Look at the bigger picture and see how mobile fits with your entire omni-channel strategy.

Get key stakeholders and the rest of your team on-board.

1. Identify and understand your customers’ habits

Many IT projects fail because at some point along the way, customers’ needs and requirements get lost or forgotten. With so many approaches and technologies available to choose from, it’s surprisingly easy for retailers to invest in the wrong thing and bear the costly consequences. Rather than rushing to develop an overnight mobile offering, consider where the value lies, what your customer priorities are, and how the new technology fits into your omni-channel strategy.

2. Focus on the customer experience

When it comes to mobile retail, a good consumer experience translates into a site loading with the tap of a finger, easy access to all the information people need, and a truly connected and personalized shopping journey. It’s definitely worth getting right. According to Think with Google research, if people have a negative experience on mobile, they’re 62% less likely to purchase from you in the future.

3. Carry out SWOT and competitor analysis

It’s an easy mistake to make. You see another retailer rolling out a shiny new experience on social media and you rush to deliver something similar. But emulating your competitors doesn’t always mean you’ll emulate their success. The key to trying something new is to do your research, and that means carrying out a full analysis of not only your business and your competitors, but your customers too. What do they want? What will they value?

4. Look at the bigger omni-channel picture

Your customers don’t want to fill up their shopping cart on the mobile app, then switch to the desktop later and find that none of their items have carried over. Deliver a disconnected shopping experience like this and they’ll be disappointed. The same goes for ad hoc marketing communication that doesn’t take into account their preferences or overlooks their purchase history. A unified customer experience is key, and that requires a solid and well considered omni-channel strategy.

5. Get the business behind a mobile retail approach

While it may be discouraging to know that around 70% of big IT projects fail (data by Forbes), there are proactive steps you can take to avoid making the same mistakes in your own business. Two key factors to reduce the risk of failure are getting management involved from the very start, and identifying exactly what your business needs are, and how your mobile strategy will support them.

LS Central is a complete all-in-one retail software that extends Microsoft Dynamics 365 Business Central, Microsoft’s #1 ERP solution globally. Whatever your omni-channel strategy, you can easily deliver it when you use one software solution that unifies all sales channels.

For further information on LS Central please contact allonline365 on +27 (21) 205 3650, or email us on info@allonline365.com, or visit our website www.allonline365.com

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