US Digital Luxury Week – April 2021

  • Author
    • #1648
      Lydia Matthews

      Takeaways: Building Trust & Loyalty
      -Emotional connection is key; how do you emotionally retain the customer?
      -Technology also builds loyalty, it being seamless adds to the customer experience and makes them way more likely to buy.
      -The relationship with the consumer needs to be two way
      -Value-based communication is key.
      -Get on your shop floor! Be part of it, just watch and see how it all works and how people engage with customers. You will learn so much from this.
      -Knowing your customer is the most important thing
      -Remembering CRM vs. Clienteling
      -Participation is a massive booster for loyalty.
      -It’s a relationship, what are the actions and strategies you use to maintain it?
      -If you’re chasing KPIs you’re not focusing on the customer or the customer experience
      -Use the client to leverage technology and humanise the process – this will lead to massive word of mouth exposure.
      -To create a client centric culture you need to start with the employee and have an employee centric culture.
      -Must include customer retention and acquisition in store, get them to follow us/ give emails etc.
      -Luxury must go from product obsessed to customer obsessed. Understand how to stay relevant to your customer whilst still being true to your brand
      • “make sure internally there’s a good level of loyalty and service to the team within your workforce to set the foundation of how to gain loyal customers”
      • Out of date customer Data is as useful as no data, you’ll lose them as quickly as you got them in.

    • #1647
      Lydia Matthews

      Innovation in Payment Models to Grow the Value of Your Luxury Customers
      • Payments offer an opportunity to be convenient for our customers by offering multiple options, but there is a balance which needs to be found.
      • Having several key options is still seen as ‘Lux’ and can provide the customer with a seamless checkout experience, which is the end goal.
      • It’s important we align online and offline at checkout
      • With higher price points, there are more options on ways to pay and having this will increase conversion
      • Luxury brands don’t want to draw attention to a ‘Buy Now, Pay Later’ model, but this can now be done discreetly in-line with brand values.
      • Speak with your payment partners to help you understand pricing and taxes when looking at international business.

    • #1646
      Lydia Matthews

      great to see so many of you at todays Digital Luxury week – we will be sharing the takeaways from the session throughout the week and look forward to continuing the conversation!
      Top Takeaways: Blending physical & digital for a luxury concierge experience.
      – In store appointments is a great way to get converting footfall into store. To maximise this in store footfall, we need to ensure that our staff have the right resources and tools to deliver a premium experience.
      – Be clear in who you are trying to reach out to, and what expectations they carry with it. For example younger customers usually don’t like sharing their data.
      – Ensure you’re clearly communicating the same message across all of your channels, to ensure your customer is receiving a synched message.
      – Focus on your sales associates and the change in role & workload they now have. With stores reopening, is it possible for them to deliver the same level of output for online, while keeping up their in-store duties?
      – Ensure you are prioritizing loyal customers, giving them a VIP experience such as the ability to pre order new stock.
      – Inventory management and data is essential for a clientelling experience, if you are giving the customer incorrect information it can do more damage to the relationship.
      – Video chat can be a great way to interact with your customers, offering them a curated and 1-1 experience. It can take a while for demand to grow through this channel, but it is worth persevering with

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