We are now living in the information age where sophisticated technological advancements and the internet have completely revolutionized the conventional model of business and paved the way for robust e-commerce. You now no longer need to make continuous trips to your favorite store to get supplies and make purchases.
Thanks to high power e-commerce platforms like Shopify, you can now visit the online store of your favorite brand and make purchases which will then be delivered to your doorstep. This however comes with challenges top of which is digital security and so any serious e-commerce store needs to invest in an affordableEV SSLcertificateto offer an extra layer of protection to its customers.
When it comes to running a successful e-commerce store, you need to be informed on the smart tactics that you can use to stand out in a flooded market marked with cutthroat competition. You need to get every detail right from choosing your hosting platform like Shopify to getting the perfect website design that will offer users with smooth navigation and fast loading speeds.
You will also look for other details like listing of products, checkout processes, shipping among other factors. Automation is a key factor here because as your store grows, you cannot manage to be processing every order manually. Once your e-commerce store is all set up and ready to sail, then comes the lifeblood of any business: customers.
A satisfied customer is the key to successful business. You can have the most attractive store and have the most mind-blowing products but without having a well laid out strategy for acquiring and retaining customers, you are guaranteed to fall flat. Customer acquisition is the obvious step for any new store and will involve advertising through social media channels like Facebook and Instagram, setting up Google AdWords campaigns and so on.
Customer retention is also an integral part comprises a set of activities that a business commencestoexpand the endurance of a loyal customer including average order value, renewal rate and wholereturnsfrom that customer. To do this you certainly have to offer that customer more value and satisfaction in exchange.
Most e-commerce stores focus more energy on acquiring new customers and forget the easiest, cost effective and guaranteed way of continued profitability: customer retention. Research indicates that it costs approximately 5 times more to acquire a new customer compared to retaining an existing customer. This figure can even go to 25 times more depending on your niche. This article will seek to educate you on some magical tricks that you can employ to keep loyal customers hooked on your store. This will indeed generate more revenue for you and earn you more word of mouth referrals.
5 Proven Customer Retention Tactics
- Customer Loyalty Programs
Human beings naturally have a give and take mechanism implanted in them such that whenever you act and do something nice, you somehow automatically expect something in return. Customers have feelings and if they shower your store with continued loyalty and repeat purchases, it’s your obligation to return the favor and make them feel appreciated.
A great way to do this is through customer loyalty programs. You could for instance award shopping points for every purchase that a customer makes. Once these points accrue to some certain amount, they can be able to redeem them to shop at your store. You could also encourage referrals by offering a reward or a discount for any existing customer that refers a new customer to your store.
- Strategic Personalized Email Campaigns
Email continues to be the leading tool not only for increased conversions but also for customer retention. Email has a personal feel attached to it in that it lands straight into the private inbox of a customer as opposed to a general advert or offer that you post on your website.You can take advantage of this important tool by offering a customized experience for every customer. Apart from the usual order confirmation and shipping tracking emails, go a step further to send thank you emails for their continued loyalty along with such perks as coupon codes.
Also don’t forget to follow up on their purchases offering great deals for complementary and/or repeat purchases. Another magical trick you can use here is sending them birthday wishes. Everyone likes to feel special on their birthday and if you send them a timely, sweet birthday email with an attached coupon code, their chances of making a purchase are very high.
- Unmatched Customer Service& Support
Making a sale may not be the hardest part when you are seeking to retain a loyal customer, it’s your ability to respond to their questions and concerns in real time and offering amicable solutions that makes them feel respected and appreciated. Your store needs to have a 24/7 customer support system in place where they can get instant help through email, call, live chat or a ticketing feature in the store.
Whenever a prospective customer asks a question or raises a concern, this is either a goldmine for you or a landmine based on how you handle it. Address their concerns promptly offering all the necessary support and you have earned yourself a lifetime customer. Go about it the wrong way and you have lost a potential repeat customer and revenue.
- Encourage Customer Accounts and Subscriptions
Although a first-time customer may simply be curious about your products without necessary wishing to be attached to your store, long-term clients may need a more personalized feel like having a customer account or a subscription plan. This way they don’t have to waste time filling in information like shipping details and payment card information whenever they need to make a new purchase.
After the first purchase, you could recommend that a customer opens an account on your store for a more enhanced, personalized approach. A customer account will save all their details making subsequent purchases easier. If a customer purchases perishable or short-term products, you could have them subscribe to a plan where their orders will automatically be sent after the given time period.
- Enhanced Social Engagement
Social media is the most widely used form of communication and interaction in the 21st century. To be able offer your customers the support and satisfaction that they need, you need to follow them to all these networks where they enjoy spending their time. Your e-commerce store needs to apply an omni-channel approach.
Also referred to as the cross-channel approach, this simply means establishing a presence on every network that your prospective customers are likely to be. You can have a Facebook page, Instagram, Twitter, LinkedIn, Pinterest,Google+, YouTube accounts and every other platform that can bring you one step closer to your customers.
In Conclusion
As seen in the above article, the cost of retaining an existing customer is way cheaper compared to that of acquiring a new customer. If you have been neglecting your existing customers after the first few purchases to focus more on acquiring new customers, you are going about it the wrong way and leaving serious money on the table.
Keep your existing customers happy and you will have earned free brand ambassadors that will spread the word about your store and keep new customers and loads of money raining on you. Be sure to invest in their digital security by getting an EV SSL Certificate to ensure that they enjoy a safe, smooth experience on your store always. You can look out cheap and best Comodo EV SSL for your ecommerce website security as it offers a green bar with HTTPS and a green padlock.
