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• Lytty
• Aug 13,2024
• 0comments

Improving Customer retention rate by 25% with LYTTY Customer engagement and Analytics for Retail businesses.

Are you in a constant search for ideas to improve your retail business? Your number one business priority should be taking care of your customers. After all, without customers, you don’t really have a business!

The only way you can take good care of your customer is to understand their wants and needs. Many businesses assume what the customer is going to love but you can very well say businesses that truly study, understand, and analyse customer data are more likely to succeed.

Welcome to “LYTTY” - A simple to use but comprehensive Customer Engagement and analytics platform for Retail businesses!  As a customer experience platform for retail businesses, LYTTY can help improve customer delight & retention rates by 25%. It helps retail businesses to better understand customer patterns and create effective strategies to improve their business.

Check out how LYTTY, the customer engagement platform can help aspiring retailers understand customer behaviour and then create strategies around that.

For example, let's say you have an e-commerce business that sells hair care products, with around 3,800 customers and an annual revenue of $500,000. However, your business is facing challenges as you only have about 8% repeat customers and slow growth even though every year your business adds 500+ new customers.

Being a premier customer analytics platform,LYTTY can help overcome these challenges with a variety of strategies and enhance customer delight.

Lets see how Lytty - Retail Customer Engagement platform can help you:

Scenario 1- Throughout the entire ordering and customer retention process focus on building a strategy to achieve "customer delight". As a Retail Customer Engagement platform LYTTY provides pre-built workflows that can be instantly customised to achieve these goals.

1. For instance, as soon as a customer purchases a product like a hair oil from you LYTTY cantrigger a support task for your support executive to call the customer and understand their expectations, recording it in the customer profile.
2. Once the product is shipped, LYTTY can send an automated message via SMS/email/WhatsApp informing the shipping status.
3. After delivery is completed, LYTTY can trigger another support call to confirm the product was delivered without any issues like leakage or damage. This leads to customer delight.
4. To get regular feedback from customers,LYTTY can help your support executive trigger a feedback link.
5. As a Retail Customer data platform, LYTTY has enough product data to predict when a product is likely to run out of stock. Say a 100ml Hair oil will last only 40 days. On the 39^thday of purchase, LYTTY can trigger a support task for your support executive to call the customer and ask for feedback and help them with repeat purchases.
6. Finally, LYTTY - Retail Customer Engagement software can be configured with the Repeat Purchase Discount option to improve customer loyalty. Here the support executive can trigger Discount coupons for repeat customers as per the case may be.

In the coming 2 blogs we’ll talk about 2 more strategies:

1. Improve visibility of Customer activity with Realtime Customer 360 degree view
2. How to use Upselling and Cross selling opportunities to improve the business?

Retail businesses can effectively improve customer retention and satisfaction by implementing these kinds of predefined or custom workflows and gaining customer insights. This results in increased revenue and growth by another 25 to 30%.LYTTY, the customer engagement platform brings to you marketing automation in CRM and is compatible with the most well-known ecommerce and retail software.

To know more on LYTTY, contact us today! Send a mail to us at sales@ lytty.com