When you deliver a personalized shopping experience, you build loyalty, lifetime value (LTV) and (ultimately) repeat customers. And repeat customers spend 67% more than new customers, according to a report by BIA/Kelsey and Manta.
Gallup studies show that customers who are fully engaged represent 23% premium in terms of share of wallet, profitability, revenue, and relationship growth. Full engagement means customers have an emotional connection to your brand – you’ve given them a personalized shopping experience.
Conversely, once you lose a customer, 68% of them won’t come back, according to Accenture’s Digital Disconnect report. Intensely digital customers are especially challenging for retailers. Accenture notes:
“Intensely digital customers are also intensely impatient… To keep this fickle and fast-moving group engaged, companies simply can’t give them a reason to leave…. dazzling them with superior service across all channels of interaction.”
4-Tell enhances the shopping experience both online and in-store. With our Cognitive Commerce Platform, you’ll have the ability to deliver a truly individualized shopping experience. With 4-Tell’s Product Recommendations, Enhanced On-Site Search, and Cognitive Engine, you will have full insight to your shoppers – as individuals and segments. You can easily find your shoppers with the highest Customer LTV and market 1:1 to them.