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Quiet sales periods are only natural on the high street, but they can also be a retailer’s nightmare. You’re paying to be open, but no one’s coming in.
Coupled with this is the general decline in high street numbers. Bricks and mortar retail is continuing to see a fall in customer footfall, which effects all retailers (big and small) on the high street – whether it’s restaurants, pubs and cafes, as well as retail stores.
Visitors to brick-and-mortar retail stores fell by 1.1% in July, the biggest drop since January, according to the British Retail Consortium.
The high street faced the biggest drop, with a 2.1% decline, while shopping centres saw a 1.3% fall.
A few weeks back, Yoyo’s head of marketing, Andy Wray, said that brands were putting to much emphasis on vision and purpose at the expense of product and customer experience.
“In recent years, high street retailers have spent too much time gazing into the horizon with a glassy-eyed, heroic stare, philosophically considering their purpose as a brand, rather than innovating their core products and customer experiences through technology,” he said.
“However, there are a few clever high street brands out there who have plonked the smartphone right between themselves and their consumers, building in-store experiences and out-of-store comms around an app that provides fast mobile payment and intelligent digital loyalty.”
Creating an enhanced experience that will produce a regular stream of customers is no longer an advantage – it’s vital to a retailer’s survival if they are to avoid becoming the 1 in 10 vacant high street stores.
Last year, Yoyo combined its payment and loyalty app with an in-house built online engagement tool called Yoyo Engage so that retailers could finally digitise their marketing campaigns.
Rather than hoping that advertising or in-store promotions will work, retailers can now monitor and optimise their performance in seconds – putting targeted and personalised offers straight into a customer’s hands.
Below are just a few of Yoyo Engage’s powerful features:
Learn what your customers like to buy and when.
Eg: “10% have an average transaction value (ATV) of £5.62”
Send reminders straight to your customers’ phones.
Eg: “For the next 2 hours only, we’re giving you 50% off any coffee! See you soon…”
Incentivise your customers to visit you during quiet periods.
Eg: “Receive 50% off your coffee on this Tuesday between 3.30 and 5.30pm”
We always say proof is in the pudding at Yoyo, so here’s an idea of just how powerful Yoyo Engage can be.
HOP Vietnamese, the fast food restaurant, wanted to increase footfall and purchase numbers on a Tuesday (a historically quiet day for business), so they launched a “Double Points Tuesday” campaign through Yoyo.
Jess joined Yoyo as marketing manager in August 2016 after more than four years working agency-side in media, retail and charity marcomms.
At Yoyo, she has helped develop the company’s marketing strategy, with a particular focus on lead generation and nurturing efforts.
You can reach Jess at firstname.lastname@example.org