The heart of every business is a healthy relationship with its customers! You want patrons to consider your business when making a buying decision and the easiest way to stay top-of-mind is by developing a trustworthy relationship in hopes that they will return.
In this day and age, creating and maintaining relationships with customers can be difficult — especially when most buyers are making decisions based on what they read/research on their phones and online. Here are a few helpful articles that explain different ways to identify with potential customers and encourage repeat business.
If 2020 had a buzzword (besides the new normal), it would be Customer Experience. In fact, we spend a lot of time discussing ways that we at Bravo can help pawnbrokers impress their customers.
The notion of impressing and delighting customers goes beyond providing customer service or customer care.
- Customer experience focuses on the holistic customer journey across every touchpoint, rather than a single interaction.
- Customer experience is the new battleground for companies, beating out price and product for how companies can differentiate in 2021.
- Mobile experience is critically important to improving customer experience.
The necessity of providing a mobile experience isn’t debatable.
Research across all industries and company sizes has produced a wealth of credible data to substantiate that if you’re not focusing on mobile, you’re at risk of becoming irrelevant.
Why? Because consumers want a mobile experience and will seek out companies who offer it.
Despite the overwhelming need for mobile, however, we find that many pawnbrokers are hesitant to adopt this channel because of concern that mobile apps will reduce in-store traffic.
Does this sound familiar?
In this blog, we’ll address this real concern by:
- Reviewing relevant mobile trends that show how important mobile impacts customer experience.
- Sharing stats and pawnbroker stories that prove mobile actually increases in-store traffic.
- Providing additional benefits of mobile that improve bottom-line results.
One common misconception with eCommerce is that online buyers are one-time purchasers. In fact, most online buyers are extremely loyal to the sites they use to make purchases. The way customers interact with brands and businesses online has changed immensely. Customers want ease, simplicity, and security. Buying online used to have bugs and errors that deterred customers to leverage online shops. As of late, the online retail community is booming!
Read our tips to nurturing the relationship with online customers to increase the likelihood of repeat business:
Chapter 4: A Quick Tour of Bravo's eReceipt Tool
It’s no secret that 2020 decimated loan balances across the country. In an October survey, 100% of pawnbrokers responded that over the course of the year, their loan bases were down significantly.
Shortly after, the “loan tsunami” conversation began. Pawn conventions and trade shows throughout the year were focused on it. Rightfully so. When exactly will things return to normal and how can you ensure your customers are walking back into your store instead of a competitor?
While there isn’t one rule to bring customers back through your doors, financial institutions and retailers alike have zeroed in on customer loyalty as a key differentiator. As a pawnbroker, you can lean into customer loyalty to not only rebound your loan balance but to far exceed it in 2021.
- Customer loyalty will be a key driver in how quickly you can rebound and exceed your 2020 loan balance.
- Customer loyalty improvements have a big impact on your profitability
- To increase customer loyalty lean into technology to implement a customer loyalty program, encourage customers to give feedback and act on it, and send event-based emails.
Chapter 5: Introducing…Review Booster!
One of the most effective ways to improve the customer experience is to showcase previous reviews! Watch this short video to learn about Review Booster and how it can help your pawn shop retain customers!
About the Author:
Tally Mack is a fifth-generation pawnbroker and eCommerce enthusiast. She loves traveling, being outside, and working out.
Before taking the reins as CEO, Tally served as Bravo's Vice President of Business Development, leading the company's sales and marketing organization. She's been instrumental in leading and executing many of the company's strategic shifts, including the acquisition of CompuPawn and the recent launch of UsedGuns.com.
Tally earned her Doctorate of Law (J.D.) from DePaul University College of Law in 2013 after attending the University of Colorado at Boulder, where she earned her B.A. in Communication Studies. She also completed the Key Executives Program from Harvard Business School in 2013.
Tally is a pawnshop lover and eCommerce enthusiast—dedicated to the success of both her employees and customers!