Customer Retention Strategies For E-Commerce Companies
Customer acquisition and customer retention goes hand in hand when it comes to the success of an e-commerce business. If you focus solely on customer acquisition strategies you might be missing out on huge potential profitability. Studies show that when e-commerce companies increase their customer retention by 5% their profit increases by 25%-95%. This is why it is essential for you to formulate efficient customer retention strategies for your e-commerce business. By ensuring that you are attracting and keeping customers you can enjoy the benefits of enhanced visibility, increased brand loyalty, improved profitability and sustainability of your business.
Here are 5 super effective customer retention strategies for your e-commerce business
Personalize user experience
Personalized experience leads to enhanced customer satisfaction. Your customers need to feel like they are being treated as an individual rather than as a revenue generating source. E-commerce businesses can easily personalize user experience by taking advantage of the data available. You can tailor user experience strategically by offering a specific audience segment product recommendations according to their preference, a chance to claim free shipping, and limited discounts. You can also send personalized newsletters and relevant content to your customers based on their past purchase pattern.
Create valuable content and engage customers
Creating value for the customers is at the heart of customer retention strategies. A happy customer who feels like you care about their needs will want to buy repeatedly from you. This will increase the lifetime value of the customers with your brand.
Ensure that you have made customer service a priority by providing assistance for your customers as required and generate feedback from them. Also mix both promotional and informational content for providing maximum value for the customers. For example, create blogs and posts that capture the interest of your customers and promote them on all possible channels.
Once you take up your business on an online platform with E commerce web design services or mobile apps, emails are a great way to connect and maintain the relationship with customers. Use email as a tool to communicate and follow up with your customers regularly.
The key is to delight your existing customers and maintain their interest for your business by sending strategic and personalized emails. As soon as someone buys from you, an email can be sent to them in order to convey your gratitude. You can also send personalized product recommendations and offers strategically by analyzing purchase history data of your existing clients through emails.
Reward loyal customers
Rewarding customers will make them want to return to your brand again and again. The more engaged customers are to your business the more rewarded they should feel. You can offer discounts, gifts, coupons, special offers and even bigger surprises to reward loyal customers.
Establish a strong social media presence
Social media is an excellent means to keep your customers engaged with your brand. By establishing a value rich and appealing social media presence a strong bond with the existing customers can be crafted. Customers can be easily updated with every move of your business through different social media channels. You can share relevant content, link to your best selling products and special offers via social media.
For any e-commerce business to flourish it is important to focus both on customer acquisition and customer retention. Customer retention strategies will help in building strong rapport with your existing customers and will lead to increased profitability and customer engagement. You can build an effective customer retention strategy for your e-commerce business by personalizing the user experience, rewarding loyal customers and connecting with your customers consistently through social media platforms.
With the help of an E commerce website development company you can set up an online presence for your business. In today’s world establishing an online presence is significant for the success of any business. With PromptTech’s E commerce web design services even small and medium scale industries can easily take their business online.