Just one of the advantages you have over a big box store is the ability to adapt to a changing marketplace.
Whether it's the economy, the latest TikTok Trend, or simply unseasonably mild weather, the simple fact is, YOU have the resources to give your customers what they want.
In this episode, I'll walk you through some key ways to help you do just that.
You'll discover:
• How to analyze customer data to identify emerging trends and adjust your product mix accordingly
• Proven tactics for boosting average order value through personalization, upsells and cross-sells (that your customers will love)
• The #1 e-commerce strategy that can turn struggling businesses profitable overnight (Hint: It's not what you think)
• Surefire ways to increase customer lifetime value and keep your best buyers coming back again and again
• Simple email marketing tweaks that can dramatically improve your open rates, click-throughs, and conversions
Whether you run an online store, a brick-and-mortar shop, or a blend of both, this episode is packed with actionable advice you can implement right away to recession-proof your business.
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Economic Impact on Luxury Brands and Middle Class 0:02
Adapting to Economic Changes in Retail 3:00
Understanding Customer Needs and Tracking Inventory 5:08
Price Sensitivity and Product Adjustments 7:15
Increasing Average Order Value and Upsells 9:37
Optimizing Point-of-Sale and E-Commerce Upsells 14:43
Increasing Customer Lifetime Value 18:08
Testing and Measuring Email Marketing Campaigns 24:26
Adapting to External Factors and Continuous Improvement 29:04
Call to Action and Review Request 29:43
Full article: https://salenaknight.com/adapt-thrive-and-outsmart-your-competitors/
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