Price sensitivity is increasing amongst consumers. they want the best price and they are willing to trade in convenience if it will keep dollars in their pockets. This is a harsh reality that retailers must grab by the horns. Remaining idle is not an option in this lagging economy. Consumers regardless of their income will seek out the most value for their hard earned dollars! Shoppers perceived purchasing power has decreased, and as a result price sensitivity has increased. With the growth of smartphones, tablets and other mobile computing devices, searching for and finding the best value is a practice that is now cemented in a consumers path to purchase. This make a deal mentality can be met by retailers investing in their own mobile loyalty app. An app is where marketing and customer service can come together by;
1) meeting your customers changing needs
2) providing customers the ability to connect with you
3) provide a consistent experience, whether it is in store, online, phone or your app
4) being available to your customers on their schedules
An app is very cost effective and gives the price sensitive customer a positive experience. By offering high value cash back in the form of loyalty rewards or other incentive based systems that add value perceived by the customer reflecting the interests of the business. Since the attitudes of the majority of consumers have changed to a more “deal seeking” variety, it is essential that your customer feel valued. Even Forbes magazine listed ist Business Essentials to include, a Website, a phone number, and a Mobile App. Mobile Apps are the most current and easiest way to connect with people on an intimate basis. A mobile message or push notification is opened 98.7% of the time, while an email gets an open rate of 20-25%. The mobile market is far too big to ignore, so get your mobile strategy in place now!