Efforts without strategies become useless. Are you trying your level best to boost your e-commerce outlet without proper planning? If yes, then we have come up with the luminous customer retention strategies for your ecommerce business which will help you to grow and prosper in the respective domain.
Customer retention has become a one of the outstanding prospects to enhance E-commerce store revenue. It is important to understand the business and according to your targeted audience team must make the strategies to boost the sales graph. Normally it has two elements that are important for your business. It involves customer acquisition and customer retention. According to the recent survey it cost 5 times higher to acquire new consumers rather than sustaining the existing consumers.
Entertaining the new consumers and assuming them to get back to the site after their first purchase seems to be daunting task. Thus eCommerce store have been concentrating on customer retention tactics rather than trying to fascinate new consumers.
Let’s understand how an appropriate consumer’s retention tactics can assist your E-commerce store?
Acquisition Costs: Searching for the new audience costs five times more than retaining an existing one.
Lifetime Value: It enhances your consumer’s connection with ecommerce outlet emotionally. Therefore consumer’s lifetime value with Ecommerce store is 4 times more than that of personal touch.
User Experience: You can acquire strong consumer experience approximately 85% that may become less valuable for the new consumers.
In order to get maximum benefits out of the existing consumers it is important to make diverse tactics that can work smoothly for e-commerce store. It assists in growing your sales funnel too.
After understanding the benefits let’s monitor the top 5 luminous customer retention strategies for E-Commerce business:
Make use of Email to send promotional offers: Email marketing is one of the finest marketing strategies that have power to influence your existing audience as well new audience. There are 60% audiences who are more likely to click and open the email when they get fascinated by your subject line. Tempting and fascinating subject line attracts more of the consumers to click on emails and stay in touch through frequent communication.
Organize Astonishing Loyalty Programs: Loyalty program are always a beneficial concept for all types of ecommerce business. To earn customer loyalty takes lots of efforts. To create an outstanding program it involves diverse strategies. One can offer bonus points or Rewards. Another option is to deliver VIP membership. Both the option fascinates the audience and holds the strong connection among the brand and business.
Showcase your customer’s testimonials in every possible ways: Staying in touch with your audience is always the best option to showcase the product and services. Communication with the audience helps brands to stay in touch with the existing and new consumers. It not only brand credibility but also creates brand awareness among new audiences. However testimonials and feedbacks always motivate your new users and help your ecommerce business to grow in a prosperous manner.
Deliver excellent customer support and services: E-Commerce business must deliver customer support that provides complete satisfaction, assurance and build connection among customers. They start believing in your product and services and also share with their friends. Communication is one of the best ways to increase brand credibility. One can make use of diverse digital platforms such as SMS Whatsapp, email, social media platform etc. to interact with the audience and solve their problems.
Increase convenience and flexibility in shopping: No doubt online store has maximum flexibility and convenience in shopping but it is a key to attract the customer attention. Audience appreciates the brand that offers flexibility and customized option for shopping and home deliveries. Businesses can involve mobile App, multiple payments options, free shipments, and offers on favorite brands.
Conclusions: Executing diverse strategies for customer retentions takes sometimes. It is important to keep trying and utilizing diverse strategies that can help business to nurture and grow in the entire respective manner.