A recent study found that a 5% investment in customer retention can lead to a nearly 95% increase in profitability. As the owner of an eCommerce website, you know how competitive this industry is. If you are not focusing on retaining the loyal customers you have, it is only a matter of time before they are stolen away by a competitor.
This is why developing a multi-faceted customer retention strategy is imperative. One of the first places you need to optimize when trying to increase customer retention levels is your eCommerce website. Here are some strategies you can use on your eCommerce website when trying to retain loyal customers.
Find Ways To Encourage Customers To Make Second Purchases
Various studies have shown that a customer doesn’t become loyal to a brand until well after their ninth or tenth purchase. However, it becomes easier to sell to a customer after they have made up to three purchases from your eCommerce website. This is why you need to look beyond the initial sale when trying to grow a legion of dedicated and loyal customers. Encouraging a person to make a second purchase from your website will be much easier if you send out welcome emails.
Not only do these emails show a new customer you care about retaining their business, it can also provide them with useful information. Crafting welcome emails that feature information about your loyalty program, product recommendations and rewards for feedback is crucial. Packing your welcome emails with this useful information can help you grow your bottom line in no time.
Personalization Enhances the Buying Experience
Modern websites are capable of doing a variety of things that were thought to be impossible in the past. For instance, many websites track the buying history of their customers. Participating in this practice allows you to personalize the shopping experience for the visitors to your eCommerce website. An overwhelming 69% of online users claim they want a personalized shopping experience.
If you are tracking a person’s buying history, you can start to offer them related products. When a shopper sees these related products, the chances of them making a purchase increases. With this personalized approach, you can build customer loyalty and improve conversion rates in no time.
Exceptional Customer Support is Essential
While implementing great calls to action and optimized product descriptions is important, you also need to focus on offering great customer support in your mission to retain customers. If a person is unable to get a problem resolved or feels like they are not valued by your business, they will start to look around at what your competitors have to offer. Investing in AI-powered chatbots for your website is a great way to send the level of customer service you offer into the stratosphere.
By implementing the tips in this article, you should have no problem improving customer retention levels. The hard work invested in retaining loyal customers will definitely pay off in the long run.