Ways to Improve Customer Retention Rate for E-commerce
Keeping the customers who already bought from you can be easier than finding new ones. If someone purchased a product from your online store, then it’s very likely you relate with him in some ways. Your offer could include other things that the buyer might need, which is why one of the most important metrics in an e-commerce business is the customer retention rate.
Assuming that you already know what it’s all about, we would like to discuss four strategies that you should use in order to have a high e-commerce retention rate.
photo/ Gerd Altmann
Use loyalty programs
Rewarding your customers for frequent purchases is one of the best ways to improve the retention rate, and loyalty points represent one of the most common strategies used by successful e-commerce stores. You can offer significant discounts after the client makes several purchases from your digital store, or you can offer promotional points that add up over time, and those will be used to reduce the price of particular products. The options are endless, and it’s up to you to decide which one suits your store the most.
Subscription-based models
Since you probably already have some customers that regularly buy from your store, why not offer them a subscription for regulator deliveries? By doing so, you’ll be able to generate recurring monthly revenue, and they will get your products cheaper. Subscription-based models work very well for most consumable and disposable products, so if it fits your store, don’t hesitate to use it.
VIP Membership
If you have customers that frequently buy from your online store, they could benefit from things like unlimited free shipping and some exclusive discounts. For example, you could offer them these perks in exchange for a paid membership. Amazon has the Amazon Prime Membership Program, which costs $10.99 per month and offers some exclusive perks. This is a method that you should use once your store has an established reputation, and it usually generates consistent sales.
Customer Support
We spend so much time developing marketing strategies in order to increase the customer retention rate, and sometimes we forget about the basic stuff. That is why clients get annoyed when they are unable to find reliable customer support, and it all ends as a seamless customer experience.
Customers might encounter problems, and they need a representative for assistance. Without that, there’s also a bigger chance that some customers will file a dispute against you (in that case, some services can help you handle those quickly, read the following Purchase Guard review to learn how). If your business had already grown, you should have a virtual assistant, and if you are at the beginning, you should allocate some time to stay in touch with the people who want more information about your products, or business in general.
Author: Lee Sadawski
