Retention Marketing – Encourage your customers
It is cheaper to make your current customers to buy again than find new ones. This is true for a lot companies, especially in the crowded e-commerce arena in which clicks and conversions seem increasingly expensive.
When was the last time you made an effort to re-engage your customers to make them come back? If you still have not marketed your current clients after the first sale, now is the right time to build a consistent strategy for customer retention.
Customer retention is the collection of activities a company uses to increase the amount of habitual customers and increase the profitability of each existing customer.
The key to increase customer retention is the understanding of the metrics below. The evaluation of price politics, purchase frequency and the average order value is crucial.
Purchase frequency indicates how often customers come back to shop on your store. This is very important if you consider that habitual customers are responsible for 40% of the year income of an average shop.
It will be important to manage the customer’s account, improve your service, start customer retention, send engaging emails and discount policies.
Use customer accounts
Forcing customers to create their own account during their first purchase can be discouraging. A lot of people choose to check out as a guest if this option is given. So it is important to provide the option to create an account after the first order has been placed.
Improve your customer service
Having a live chat and a help desk tool is the most advisable solution. The customer will feel more valued and reassured.
Start a fidelity program
Arrange advantage programs, offer your customers the opportunity to take action allowing to acquire purchasing benefits.
Send engaging emails to customers
Thanking a customer for purchasing, suggesting new products and many more actions are crucial. What matters is that every email needs to have an added value.
If the email is monotonous and lacking in contents or news or purposes, it may be deleterious/disruptive.
Offer a discount
Discounts can be risky and someone consider them absolutely necessary and someone who fears they would generate an expectation of increasing reductions. Certainly offering a discount after the first purchase is very motivating to make a second one.
Give your customers the opportunity to make your business grow
Incentive your customers to share your contents. Involve them in the project.
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