Business teachers never skip this one key lesson: capturing ROI and accelerating profits. But rapid technological advancement has changed the entire landscape of how businesses work. Digital, customer-led, culturally agile, and experience-based business models empower business owners way more than their books ever did.
The fuel industry isn’t an exception. As client expectations and needs grow, they expect retailers to offer nothing less than a seamless and compelling physical and psychological customer experience. Gas and petrol stations have remained unhinged for decades. But now, you should consider converting yours into a state-of-the-art, modern stop that serves more than just fuel and gas refills.
Let’s dig deeper and learn the three efficacious strategies for reinventing the gas station experience.
1. Go Digital
Today’s buyer expects customization channels, convenience, and safety. They still want the whole brick and mortar gas station experience combined with digital automation, which is now known as the “clicks-and-mortar“ experience.
As a gas station owner, you must strive to deliver what your customer expects, and enhancing the gas station experience is the best way to do it.
Gas stations should be more than just a fuel stop. They must offer a fulfilling convenience shopping experience by enhancing consumer engagement and becoming a terminus of choice to serve many daily life aspects.
According to BCG research, here are some of the things that fuel customers care most about, and focusing on improving these can help you generate more sales and increase business profits:
- Convenience: User-friendliness and convenience are more important than price and the brand.
- Progressive Customer Experience: Buying gas isn’t an enjoyable experience, but delivering a positive UX is the key to success since it’s done very frequently.
- Eco-consciousness: People have increasingly become more environmentally conscious. And gas stations should also cater to health-conscious, environment-focused drivers.
- Safety: Parents drive their children by car often—and need safety assurance to feel that their children are safe in the car while they buy gas.
- Convenience Store Brands: Improve your gas station’s value by introducing loyalty programs. They help in developing awareness and an idea of convenience store brands that also sell fuel.
- Time. Customers appreciate efficiency and quality. Deploy pay-at-the-pump options, easy in and out, and queue-less models to save your buyer’s time. While this can be done by changing the strainers, the nozzle, or other equipment, you may also need to install modern gas pumps and dispensers for quick delivery.
3. Utilize Advanced Mobility Models
Stats show that nearly two-thirds of the world’s population will be living in urban cities by 2030, which calls for more innovation and efficiency at gas stations. The fuel industry is not likely to go out of demand for quite some time. Therefore it must embrace urban mobility to deliver what customers expect.
Ride-hailing services like Uber and Lyft have already reduced car-ownership numbers, and the shared mobility market is likely to worth 300 billion USD by 2030. Therefore, it’s important to ensure high quality, maximum safety, and digital gas station experience to increase younger generations’ car ownership aspirations.