Are you a pawnbroker that is ready to take your business to the next level? At Bravo, we are dedicated to the pawn industry and love sharing new tips & tricks on how to amplify businesses while improving customer retention!
Check out some of our latest articles to learn more about:
- How to better engage your customers
- How to utilize technology for a better customer experience
- The top ways to build customer loyalty
- and more!
Chapter 1: The Bravo Manifesto: A Letter from the CEO
Our Mission: To be the catalyst for advancement for the industries we serve.
What does it take to advance? In this brief manifesto, you will learn about how Bravo is going head-to-head with industry problems throughout 2021!
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.
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?
Read the full article to learn about:
- 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.
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.
Consumers have more choices than ever before when it comes to the brands they buy and the companies they buy from.
As a consumer yourself, the access to so many choices might be viewed as a positive—you’re not “stuck” purchasing products from a company simply because they are the only option on the market.
As a business owner or stakeholder in your company, however, this presents some unique challenges.
- Your competitors are fighting for the same customer base that you are (and might have better brand recognition than you)
- Your customers or potential customers can easily choose to work with and buy from your competitors
- New strategies to differentiate yourself from your competitors are a must given that consumers have so many choices other than you
So, how do you (1) overcome these types of challenges, (2) seize the opportunities that exist as a result of an overcrowded market and new consumer behaviors, and (3) leverage these opportunities to grow your business and improve bottom-line results?
The best companies in the world all have something in common. They understand the value of repeat customers and have a strategy to support existing customers.
Increasing your store's profitability begins with the customers you already have, which is why focusing on customer retention should be an area of focus in 2021.
Read the full article to find out the three reasons repeat customers are profitable! Then, we will share three ways Bravo empowers businesses to focus on Customer Experience, thus translating to more repeat customers.
Employee engagement is critical to building a successful business. It is a goal that organizations strive to achieve but there isn’t a silver bullet to reach it. Driving employee engagement doesn’t come naturally to most. In fact, in the United States, only a third of employees are engaged at any one time.
Find out why you should focus on employee engagement and how it will eventually benefit your business!
Choosing a pawn point of sale (POS) is one of the most important business decisions you’ll make.
The technology you rely on to help you operate your business has a significant impact on your ability to grow, scale, maximize efficiencies, improve productivity, operate more profitably, and deliver exceptional employee and customer experience.
It is also a key financial investment and one that should produce meaningful and measurable returns.
In this blog, we share recommendations for how to effectively evaluate a software company and its products so that you can feel confident in your choice of technology partner.
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!