A successful business can earn many happy customers. We mean, “Happy Customers,” — keep on coming to you to do shopping whenever they want. This definition sounds like the quotation of Jason Fried, the CEO of Basecamp.
“If you take care of your existing customers, they will take care of your new clients.” said on Inc.
In fact, most businesses begin with the trouble of getting customers to make them shopping first and changing their minds to gain new customers. In this acquisition process, companies fail to care the client’s journey and make current customers happy. When you draw a new customer, you need to pay much attention to retention too.
“83% of consumers is in need of some support in their online journey” — LivePerson
The Harvard Business School reports that by increasing the retention rates of your client by 5%, you can raise your income by 25–95%. Due to this, your current customers spend 67% more than new customers. It is strange that persuading your existing customers cheaply to keep on purchasing from you. It is precisely why the lifetime value of your client is a source metric to measure a success of your business.
With this in mind, we have compiled five strategies below to guide you on the retention of your customers:
1) The Importance of Loyalty Programs:
Although Loyalty Program is an old trend, it is one of the powerful ways to keep your customers coming back to you.
Here are some Loyalty Programs which can be maintained in your customer retention program.
- Special deals
- Discount coupons
- Cash back offers
- Redeemable points
- Free merchandise
- Exclusive lifetime membership offers
Do not bother about the benefits of these programs and the result of Loyalty programs have stunned and favored a lot of online businesses. Creating unique Loyalty programs which support your brand to be seen from the people and influence buyer behavior.
Loyalty should not be limited to only shopping. There are some valuable actions in which Loyalty can be linked to, they are:
- Referring a friend
- Dropping a review
- Signing up newsletter
- Following on social media
- Sharing on social media
2) Retain Email Marketing:
Email inbox is the best way to enter into your customer’s mind. Email marketing acts a critical tool in creating new customers or keeping them coming in. For your business, if you own eCommerce store, your email marketing must at a particular stage. So, you need to look into the average time of your customers between shopping. However, there are fewer possibilities of doing this in a retention marketing manner. Instead of promoting fresh products and special offers through email, prefer personalized emails to support current/previous customers shop from you.
A recent study reports that only 32% is probably making second order from the same store. However, the good news is the personalized emails can raise the sales by 50%. Creating targeted emails to engage again with your customers assists you to understand the expectations of your clients and learn with works to meet them.
Keep in mind — the three essential rules when you create retention emails
The effectiveness of retention emails are categorized below:
- Activation — Assisting users to get started
- Transaction — Add offers and seducing deals in the digital debts of a client
- Education — Teach them about your products by including new sales
- Notification — Keep them informed about the products which are waiting in their shopping cart
- Thank you — Get cleared about the different ways to send thank-you notes
You can even make it in a better way by using your current email business software to send these emails, merely by dividing your customers.
Some tricky methods of email retention to work at its best:
Email after purchasing:
After the client made his first shopping, you can follow them with a welcome email and cross-selling opinions.
Email on either events or birthdays:
Emails set off by major events. It can be a birthday of a customer and abandoned checkouts, etc. These could be the effectiveness of retention tactic.
Reminder through emails:
If there is no shopping from a customer for a while, then a gentle nudge might be sufficient to pull them back with the email of a discount.
3) Give an Essential Support to your Customers:
Supplying outstanding customer service is an art and it sustains the acquisition and retention of clients when done right. Service means — listening to your customers and providing them with the essential support during and after shopping.
Nowadays, we have intelligent customers who judge your brands based on your response. Do not create a way to poor service which causes customers not to purchase from your store. So if you want them to do a secure shopping from your store, find out the chances to retain your clients. If it does not work correctly, you may lose 71% of audiences because of a bad service says a report by Kissmetrics.
You should be an efficient problem solver when your customers come with their problems. Only then you could convert your new buyers into forever customers.
Set up a multi-channel support actively to serve your online customers at its best:
- Ticketing based centralized helpdesk
- Using live chat features
- Answering queries on Social media
4) Sustain your Customers with exclusive Deals & Discounts:
Flipkart, Snapdeal, and Amazon are considered leading e-Commerce portals. The reason behind their successful running is the best availability deals and having done proper e-Commerce marketing for their customers through online.
Encourage them to give their money and time generously and make sure that they advocate your brand with loyalty. If they like your products very much or your service is perfect, they will get addicted to your brand for a period of time.
Offer access to deals and promotions exclusively through social media, any of your chosen business channels, or email marketing. Like bees to honey, customers are attracted to exclusive deals. Support the reputation of traffic with persuading deals that will reward and help customer loyalty.
5) Be Grateful to your Clients:
There are competitors in your category, so your customers have options. In fact, they chose you. Therefore, thank them all the time in deeds and words that looks significant for marketing to all the customers.
You can express your gratitude, by including a thank you card, newsletter, and some personalized letter with each shipped order. It is considered to be the best way to thank your customers. In addition to this, offering free shipping is another possibility of acknowledging them since shipping costs is one of the worst cost abandonment factors.
There you have it! Retention marketing does not provide you overnight results. But, if you stick to these strategies you will be seeing phenomenal results. Focusing your time and energy on this group, especially during the holiday season is a powerful way to boost your store sales!
Are you looking to retain more customers to your eCommerce store or even develop a new eCommerce website? Get in touch with us for a free consultation!
This post was originally published on EWDC’s recent blog post. To learn more about EWDC, click here — Ecommerce Website Development Company in Chennai — EWDC