As an entrepreneur, you know that retaining current customers is much easier and cheaper than attracting new ones. Therefore, one of the things to top your priority list should be customer retention. You want to ensure that, for one, all the effort you put in to attract them doesn’t go to waste. Additionally, you want them to have a better customer experience such that they will even recommend you to others. At the end of the day, why would you have given so many resources in advertising yourself only to lose the customer after a first purchase?
Customer retention can be defined as the collection of activities and operations that a business employs to increase the rate of repeat buys on your online store. So, one might wonder, what are the customer retention strategies you can utilize to make a repeat purchase on your online store?
Email marketing is one of the most effective tools for customer engagement. For one, they give you access to your customers, an opportunity that you can utilize to build on your relationship with them. The good thing about emails is that you can use them to engage with your customers before, during, and after placing an order on your online store.
However, even with the effectiveness of email marketing, you should also note that content matters. This means that for every email you send to your customers, some value is added to improve their customer experience. This is because, contrary to that, you will be running a risk of losing them. Here you can learn more about this tool that I find trustful. You can also use emails to communicate about deals and promotions at your online store. For example, you can use email marketing to notify your customers about ongoing discount deals and flash sales. This means that they will be in the know for everything happening in your business, thus increasing their chances of wanting to buy from you again.
Another thing to remember is the duration between the customer engagement emails. A great way to kick start your customer retention campaign through emails is through the use of a follow-up email. For example, several days after your customer purchases something from your online store, you can email them to thank them for making the purchase. This will make them feel appreciated and improve the outlook of your business.
Using customer account
This is one of the most effective ways of ensuring that your customer comes back to your business’s online store. However, they can be a double-edged sword, such that the account shortens the process of repurchasing while at the same time making them feel committed and part of the company.
The good thing about these accounts is that the customers’ details and information. As such, they do not have to go through the order placing process all over again. Some of the data will even be prefilled. To top it off, they will even have the chance to access previous orders, monitor their purchasing history, and analyze their expenditure.
However, some customers might feel that it is too much of a commitment to sign up. This might even lead to them opting to check-in using guest accounts if the option is available. Therefore, you can provide the sign-up option just after placing the first order to make it easy for them.
Improving customer support services
Customer services are a crucial component in the customer retention policy. First, you have to ensure a free and straightforward communication channel between you and your customers. This will provide them with a platform for communication, airing their grievances, and asking for help when they need it. When you establish a clear communication channel with your customer, you will be there for them when they need you, raising their chances of returning and placing an order at your store again.
One thing that can improve the customer service delivery for an online store is live chat. To begin with, this is a stop solution platform for your customers. It can turn the customer queries into sales within a short time. Additionally, you will be able to handle any arising questions and complaints from your customers, turning them into resolutions.
All these services go a long way in improving the customer experience. For example, if a customer had a question about a product and answered right away, the chances are high that this customer will hold the business in high regard. As a result, they will want to associate with them more and buy more.
One thing that you need to note as an entrepreneur is that a simple solution offered to a customer can turn them from a salty customer into a loyal repeat one. This will also improve customer feedback, ratings, and many others.
Discounts and Promotions
There is nothing that customers love most when shopping more than discounts. Therefore, you can include a discount policy where the buyer gets price cuts for a first-time purchase or according to the number of items bought. This makes customers realize that you mind them too, as you are out there trying to make money.
However, it would be best if you always were careful with discounting. It is a strategy that requires proper prior planning o prevent falling. This is because once you introduce discounts on your products, your customers might develop a notion that the prices will be dropping. This might result in a loss of revenue for the business. Therefore, before introducing it to your business, ensure that you have taken time to calculate the overhead expenses to avoid any losses.
Customer retention is vital for any business. Your customer base is an asset that you should treasure. They are already conversant with your brand, have interacted with your products, and know your services. It is up to you to put in the effort and retrain them.