How to Improve Customer Retention for Your Online Business
No matter how strong your marketing strategies are, the success of your business depends on how good you are at retaining existing customers. For instance, if you’re selling products online, you need to get good reviews to build a good reputation. This will help you to draw repeat clients and attract new ones.
Statistics show that it’s 5 times cheaper to retain your existing clients than to acquire a new one. Starting from scratch will cost you more. Here are strategies that can help your eCommerce retain existing clients. Check out more tips from Freedom Bound Business.
Go the Extra Mile
Considering the level of competition for online products and services, it’s always crucial to distinguish your business from the rest. You must be ready to go beyond your customer service to entice your clients. This can involve providing free samples or doing something extra that will delight and surprise your customers. You should aim to make your customers remain loyal to your product or services.
Create Loyalty Programs
Working with a Digital Rewards Platform can help customers get rewarded for frequent purchases can be a good way to make them stay. For instance, you can offer an additional item or service whenever people buy a given number of products. This normally happens in the form of BOGO marketing, or “buy x amount of products and get 1 free.”
Another way is to offer loyalty points for every subscription or purchase. Customers can redeem their accumulated loyalty points in terms of a free service or subsidized product. Loyalty programs should reward clients based on the frequency of purchases, which makes this a great retention strategy.
Personalize Customer Experience
Online businesses have the advantage of being able to track their clients’ preferences. The customer’s past purchases give the business an idea of what other things the person might be interested in buying. This creates a great opportunity to provide recommendations to customers. You can recommend products based on what the customer has ordered or viewed in the past.
You can go the extra mile by establishing an email newsletter. A business can also share relevant content to its customers in the form of blog posts. Just make sure the content you share relates to what the person is interested in buying.
Make Your Return and Delivery Policies Customer-Friendly
Online buyers always look for the easiest and most convenient shopping experience. One of their biggest concerns is the terms and conditions for shipping. They want to feel comfortable that their product will arrive safely and that they can return it in case of any issues.
You can make your customers’ shopping experience better by providing additional delivery and return options. For instance, you can offer different shipping rates based on urgency. A client who wants their products delivered within a day can pay an extra fee while those who are more patient can pay less.
Establish a Strong Social Media Presence
Social media has become an important marketing platform not only for eCommerce but for every business. If you want to make your brand known and retain your current clients, you must create a strong social media presence.
Online shoppers are likely to spend a lot of time on social sites. You can use direct posts, mentions, and hashtags to connect with them. You can also recognize customers who spread positive reviews about your products. Make sure you respond to questions or any concerns your customers might have.
Customer retention is a sure way to grow your brand without spending much. The above strategies are easy to implement and will go a long way in improving your sales.