4 Creative Ways to Use Technology to Grow Your Business

Becoming the most tech-savvy retailer in the mall doesn’t require a background in engineering. Thanks to a wealth of tools and tactics, businesses have more ways than ever to impress customers and keep them shopping.

Read on for four creative approaches to working technology into your retail strategy.

Take Mobile Beyond Payments

Mobile payment adoption is on the rise, but there’s more to the story than an increase in customers tapping to pay. Android Pay already has the built-in capability for loyalty programs and discounts, and loyalty is coming to iPhone users with iOS 9 later this year. That means keeping customers engaged in your rewards program is no longer blocked by those easy-to-lose paper punch cards.

Thanks to Android Pay’s open API, if your store has an app (or if you’ve been waiting for that perfect excuse to finally build one), it’s easy to integrate the new payment method into your interface, as well as loyalty features to keep your customers engaged over time..

Never Let “Out of Stock” Mean “Out of Luck”

According to an IHL Group study, out-of-stock items result in a 4.1 percent loss in revenue on average, or $129.5 billion total in North America alone. That’s not only an alarming statistic—it’s also an avoidable one. A search for “inventory control software” yields plenty of services created to help businesses keep track of their stock—some with advanced features like product recommendations.

With technology like this, it’s easier to become the store every shopper can count on to have the things they’re looking for in the sizes they need. That’s a reputation every retailer should strive to earn, and it doesn’t just have to be the province of big-box stores, thanks to accessible technologies that easily integrate with your point of sale.

Make Each Customer Feel Like a Regular

If you’re not taking steps to make customers feel like they’re getting the star treatment every time they enter your store, you’re missing out on revenue opportunities, since a majority of shoppers say personalization influences their buying decisions. Thankfully, you don’t have to go it alone. There’s a wealth of inspiration out there to help you craft the perfect shopping experience for your customers, from tablets that let sales associates instantly pull up information relevant to each shopper’s tastes while they’re browsing, to mobile apps that let customers customize in-store interactions.

Need even more incentive to create the most welcoming shopper environment? A survey from Zendesk and Dimensional Research found that 87 percent of shoppers share positive retail experiences with others. Give them the experience they want and you could be the brand they brag about to their friends.

Use Location to Amp Up Your Offers

While we’re on the topic of personalization, pushing out coupons and offers based on a shopper’s home store or past purchases can be a great way to turn a passive browser into an active buyer. According to a recent study by Google, Ipsos Media CT and Sterling Brands, 64 percent of people would be swayed to shop if a store sent them product suggestions based on what they bought before and what friends are buying, and 85 percent would be convinced by in-store offers that feel like they’re made just for them.

If they’ve signed up for email alerts or opted into mobile push notifications from your store’s app (or another mobile coupon service), you’re only one step away from making this strategy a reality.

How do you use technology to grow your business? Send us a tweet @Cayan and let us know.

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