Retail trade seeks to always be able to increase your sales, that is why it is crucial to keep the look on the strategies that will improve the ROI in retail Here I'll give you the keys!
In a universe as competitive as the retail whenever it requires more financial resources to be able to provide a customer service that will ensure your satisfaction and that your time is profitable for the investors, hence the importance of the Return on Investment or better known as ROI, for its acronym in English.
What is the ROI?
The return on investment or ROI is the money that an investor of a company earns for the injection of financial capital.
This results in the net profit that you get to the store and it is of the utmost importance as the figure achieved is an indicator of the efficiency of capital investment in the company, thus determining the profitability and the confidence to invest.
The figure for return on investment is of great importance because it is a signal that is highly valued in the market for investors. For example, when comparing the ROI of a store of sportswear with a retailer of shoes, it is possible to observe where you will get better yields.
To achieve a positive ROI for your store, it means being able to bring the best letter of presentation to the time of exit in search of investorsfacilitating the process to show them that you can get for example a 20% return on investment.
1. Learn from your customers
Your shop is not only a space to sell products, but also to learn actively about your consumers.
Therefore, whether it is to track the pedestrian traffic or to determine the time spent by the consumers about certain products, it is recommended to use the store to capture the largest possible amount of data, which can then be used to improve the business.
2. Customize the experience
Remains one of the main keys to improve the ROI in retail, since studies show that customers are more likely to buy from a retailer that recognizes them by name or recommends products based on their interests, highlighting the importance of providing a differentiated treatment to each buyer.
3. Loyalty programs
While the idea of the strategies to build loyalty in customers is nothing new, it still can be key to getting people to return to your physical store.
Through the loyalty programs feel a strong foundation for a long relationship with your clients by offering them reward cards, invitations to private events, and shopping experiences personal.
4. SEO optimization
The internet and social networks have a power that is unquestionable in terms of decision making, that's why to improve the ROI another way to increase the traffic in your physical store, it is through the optimization of the SEO
With so many consumers to investigate before you visit, it is vital that retailers include in the search engines not only online key phrases about your brand, but also key phrases localized. To apply the SEO only requires a minimal investment of time that will result in better revenue and advertising for the retailer.
5. Points-of-sales mobile
Today's technological advances make it so easy for the store staff to take payment from a client from a wireless device as it would be in a cash register to conventional.
This means that, instead of investing a lot in fixed points, retailers can maximize the ROI of your store with points-of-sale mobile.
Conclusion
To get the financial support needed for the growth of the store, it is essential to obtain the best ROI possibleas in the case of the return of investment is very low or even zero or negative, the store will not be attractive to an investor.
Hence the importance of implementing the best strategies of retail that allow improve your ROI and also knowing the difference between the gain of the ROI, as it is a mistake to recurring within the industry and that can affect the levels of trust to a potential investor.
