You want to focus on keeping the customers you already have, rather than chasing after new ones. You understand the importance of providing excellent customer service and receiving positive feedback for a pleasant shopping experience, but do you still feel like you need to do more in order to bring your clients back time and again? One way to do that is by developing strategies (known as retention strategies) in conjunction with your products that help ensure return customers who feel inspired to purchase from you again once they have had a chance to review their shopping experience in full.
How Crucial is customer retention for your eCommerce business?
Accenture Strategy Study Found that U.S. companies are losing $1.6 trillion every year as consumers demand more human interaction.
Companies must think quickly and be agile in this ever-changing environment that necessitates techniques that are effective in the actual world.
If an eCommerce firm is to succeed, it must spend on client acquisition and retention. A successful firm is one that strives to maintain a satisfied consumer base.
Customer retention is important for two reasons:
- You can't develop your business if you're losing customers.
- Acquiring a new client is always more expensive than keeping existing customers and selling more to them.
Top Customer Retention Strategies For You in 2022
Here are the 8 best ways to retain your existing customers and improve brand loyalty.
1. Plan Stellar Email Campaigns
Email marketing has a big influence on maintaining current consumers and marketing your company at the same time.
Customers are more likely to open and click on your emails if they appear to be personal. When addressing the consumer in an email, for example, you can use their name. Always thank and congratulate your consumers for buying at your store by sending them a personalized email. Begin by compiling an email list of clients who visit your online business often. Focus on customizing emails and sending them to each consumer after you've created an email list.
Here are 5 types of emails you should include in your campaign:
- Send a welcome email to anyone who registers for your newsletter or creates an account. To avoid unsubscribing or marking your emails as spam, remind your audience why they signed up right away.
- Send reminder emails to remind them about cart abandonment, repeat purchases, & provide product recommendations
- Send out special offers linked to major occasions throughout the year, such as the holidays, a mid-month blowout, a year-end special, or even the anniversary of a subscriber joining up for your email list to reward client loyalty.
- Another multi-purpose method is to ask for feedback. It gives your customers the impression that you appreciate their input.
- Re-engagement emails are intended to re-engage consumers (or leads) who have stopped communicating with your company.
2. Educate Your Customers Through Relevant Content
Promoting quality content is essential to creating a rewarding engagement experience with your target audience. Providing your customers with information that helps them come closer to achieving their goals will help build customer trust and loyalty, improve conversions, and generate new leads. It’s the best way to establish the right foundation for building a successful business with products or services they’ll love!
Well-researched content marketing helps you:
- Ensure your audience will stick around your page longer.
- Better traction on social media.
- Improve sales by placing relevant Calls-to-Action (CTAs) in your content
- Allow your audience to interact with you while also providing them with the knowledge they need to make informed purchases.
- Augment your SEO efforts by helping your business become visible online.
- Rank higher in search engines if your company builds itself as a reliable source of information.
- Cut costs in marketing by building an organic relationship with your customers
3. Start A Customer Loyalty Program
Customer loyalty programs are extremely important for maintaining clients. The best brands in this highly competitive industry know how to keep their customers loyal and satisfied with the highest quality service, spectacular rewards, and special offers to clients who remain loyal regularly.
Customer loyalty programs are crucial when it comes to increasing customer lifetime value, and that could lead to increased profits. Offering rewards based on positive behavior is an effective business concept used to reward customers for shopping more frequently, encourage more referrals, and choose your brand over other similar ones. How can this help a brand? The answer is simple: rewarding positive behavior accelerates the loyalty life cycle among your customers and distinguishes your brand from other competitors in its niche.
Such loyalty programs also have the potential to accelerate the revenue-generation process by attracting new customers with new perspectives who will be impressed with what you have to offer because they see that people like them are already enjoying it.
The following are some of the most effective loyalty programs to incorporate into your retention strategy:
- Give exclusive offers to loyal customers.
- Provide discount vouchers for lifetime membership
- Offer money-back & reward Points
- Providing presents to first-time customers
4. Strategize A Social Media Strategy
For real-time service, customers are increasingly turning to social media outlets. Being present and responsive on these platforms may contribute to a pleasant client experience.
Social networking is an excellent tool to engage with both new and existing consumers. You can reach a wide range of customers through various social media sites. By engaging in conversations with your followers on social media, you may introduce new items and build a brand culture.
To engage with potential consumers, businesses are increasingly turning to social media and digital marketing.
However, as social media becomes more intertwined into our daily lives, leveraging it to retain existing clients is becoming increasingly vital.
Customers that are engaged and satisfied are valuable assets because they are more likely to become repeat customers and spread the word about your brand, which is especially important in the modern era because of the increased connection.
5. Implement Gamification
Gamification is one of the most innovative methods that US businesses have tried with client retention in recent years.
This method makes use of gaming principles to both reward clients and makes utilizing the service more enjoyable.
Customers that are rewarded feel more appreciated, have more brand loyalty, and are more inclined to purchase from the company again in the future. There are a variety of ways to incorporate gamification into a business, but most of them are aimed at keeping consumers and improving their lifetime value.
6. Include Customer Referral Program
A referral program is a form of word-of-mouth marketing that encourages clients to promote your company. Referral programs allow customers to share their brand experience with partners, colleagues, and friends rather than posting online reviews or filling out customer feedback questionnaires.
A referral program's goal is to bring in new leads for your company. However, you're not bringing in just anyone. Customers will recommend leads who are a good fit for your business if you ask them to think of others who will benefit from your product or service.
This makes it even simpler for your marketing and sales teams to nurture and engage consumers because these leads are not only a good fit for your firm, but they're also familiar with it and its reputation.
They have a trusted resource telling them that your firm is trustworthy and provides a pleasant customer experience since they were suggested by someone they know.
7. Ensure Hassle-Free Return Option
Retailers, manufacturers & distributors have always seen product returns as a black hole. Returns have long been viewed as a hassle, a cost, and a source of potential consumer unhappiness. Many successful organizations, on the other hand, have recognized the importance of an effective product returns strategy. Effective product return management usually results in customer credit being issued more quickly and fewer reconciliation problems, resulting in happier customers and increased revenue. Additionally, buyers are more inclined to purchase from the same firm again. Returns are also a good source of information on customers' purchase expectations and behaviors.
Happy Customers are the Key To eCommerce Success
Providing a better customer experience leads to increased user engagement, as well as increased customer satisfaction and growth. Customer loyalty may also be established by providing excellent customer service at all points of contact. Even a long-term client relationship may be ruined by a single bad customer service encounter, which can eclipse all past positive ones.
Do you want to plan your customer retention strategies?
Well, get in touch with our renowned digital marketing experts at eComIntegrate. We help you build fast and consistent strategies to improve customer retention by selecting the right tools and metrics that hook customers.