Do you want to grow your business? Well, if your answer is yes, then you need to understand a simple rule: most products are just commodities for users.
If the product addresses the issue of the customers, then two different companies offer the same value to the customers.
You have to understand that the key to getting a sale is to offer the best Customer Experience. The benefit of this practice is that it will help to increase the revenue of your company. Plus, you will be able to add profit to your business.
The essential aspect is that you need to audit the various customer experiences within the business. As a result, you will be able to improve the way your business interacts with the customers.
The audit will also offer insight into your vendors and inventory. The best approach is to hire professional help to conduct retail audits for you. For example, you can seek the assistance of the brand name in retail audits that is Assosia.
However, it is essential that you understand what retail audits are all about, and the different aspects that get judged.
The Aspect of Brand Awareness
The essential aspect of judging is what the customers think of your brand. The brand is a crucial aspect that separates your company from its competitors. What you need to keep in mind is that the brand sets the expectations even before the customer steps into your store.
You need to audit this aspect. For this, you will need to survey the current customers. Secondly, you need to put some questions to the customers. For example, what they think of your company, and they should give this answer in one word.
Evaluation of the Shopping Experience
The shopping experience is yet another aspect that gets judged in retail audits. Some customers prefer to shop in-store rather than online because they feel that they get good advice from the staff. However, you will need to provide relevant training to your staff in this regard. They should be able to empower the customers to make decisions.
If you want your retail audit to bring up positive feedback, then it is vital that as a business owner you should work with your staff for some time. The advantage is that you will get an idea about the floor operations and how the staff deals with the customers.
When you want to audit the shopping experience, observe when customers enter the store. Look at what the customers buy. You may get hold of some mystery shoppers as well and get their opinion on the shopping experience by making them fill forms.
Look into the Return Policy
The return policy is yet another crucial aspect that gets judged in retail audits. Many of the retailers are reluctant to provide a return policy for all those products that cannot get resold with ease. As a business owner, you need to fight this reluctance and show confidence in your products.
You should review the customer complaints on a positive note. When you know the complaints, you will have a chance to bring about improvements in your products, and convince the unhappy customer to become a loyal customer.
For retail audits, the first thing you need to know is to analyse the return rate and look at the reasons due to which the products come back. It is also important that you should calculate the LTV of the customers from time to time.
Remember these essential aspects if you plan to have a retail audit conducted soon.