Most e-commerce firms prioritise attracting new consumers, as it should, but failing to take care of your current clientele is a typical and expensive mistake. Marketing to your present customers allows you to reach potential consumers who may have moved on while also drastically reducing your marketing expenses.
You may increase your sales and increase your revenue in e-commerce marketing by learning more about retention. This strategy is low-cost and highly rewarding. The best part is that these clients have already been located, are aware of your brand, and are far more likely to convert than newcomers.
Why to Focus on Retention Marketing
- Affordability: Your marketing expenses immediately decrease, often significantly, when you sell to and satisfy an existing client. According to HubSpot, selling to a repeat client can save you up to five times as much money as finding a new consumer who isn’t familiar with your e-commerce brand. Programs to keep customers can also help you make more money overall by giving you additional opportunities to sell without raising your prices.
- High success rates: You may increase your total conversion rates by focusing a portion of your e-commerce marketing strategy on returning consumers as they are more likely to make another purchase. Your current customers are five times more likely to make another purchase from you and seven times more inclined to try your newest product, according to HubSpot. The market for new holiday launches, new product releases, and more is already created in when you develop strong relationships with your previous consumers. It is much simpler to connect with and resell to prior consumers since they are already familiar with your brand and products.
- Outstanding ROI: Your ROI will be impacted favourably by the cheap cost and high success combo. Your company will still experience significant profits even if retention is only a small component of the entire e-commerce marketing plan. Harvard Business Review claims that increasing your retention rate by only 5% may increase your profitability by at least 75%. This percentage may reach 95% for certain companies, yielding a large return on investment for your retention-focused initiatives and programmes.
Ways to Focus on Customer Retention
How can you build a segment for your e-commerce marketing activities and benefit from client retention? maintaining contact with your clients. At the best Digital marketing course in Pune, you will learn about one of the most effective and distinguished ways to create brand awareness, how you can reach out to your potential customers and stay connected with the existing ones. With exclusive benefits and activities reserved especially for them, you can show your customers how much you care about them. By rewarding your clients, you will increase their loyalty, which will be extremely beneficial to your brand.
Engaging and Staying in Touch
You have two options: either just execute the order and hope for the best, or make a concerted effort to interact with your clients after the sale. There are many tools available to you, and most of them are cheap and simple to use, like DataQ. Use social media or targeted email marketing to engage with consumers and help them remember and connect with you. A quick follow-up email or message after an order has been filled might show your customer that you are interested in them. Additionally, concentrating on their experience while soliciting comments devoid of any pushy sales speak can foster positive feelings. Without incurring significant expenses, regular touchpoints may strengthen your relationships.
Let Customers Know You Appreciate Them
Follow up with intention. Reconnecting with a client to express gratitude for their patronage and check on their happiness can also help them feel valued. Several approaches to this include:
A little thank-you note on your social media accounts.
Free delivery on their subsequent order to demonstrate your appreciation for their business.
A handwritten message of gratitude that is delivered with each order.
A customer’s decision to patronise a small business has an impact on the owners and employees of that company. Customers will return frequently when you remind them of how important they are to you since it is a far more personal interaction. The majority of customers will choose the brand that acknowledges and values their purchases over an anonymous large box retailer if that is their other choice.
Offer Special Perks
If you’ve ever gotten an email advertising exclusive VIP discount or a deal for current customers, you understand how alluring this kind of campaign is. Making repeat customers feel unique by providing an exclusive bonus for “insiders only” enhances the likelihood that they will make another purchase. Sales may be increased immediately and over time by targeting a group of returning customers and making them an exclusive offer.
At the best UI UX course in Mumbai, you learn about one of the most crucial aspects of a business, that potentially makes your brand. Users prefer to use an application that looks appealing and provides a positive experience when used and you will also be able to work on client projects in the best Digital Marketing agency in Mumbai. It is highly crucial for knowing your audience’s desires and catering to them, developing good relationships with your brand and company. Even while you should constantly look to expand your clientele, investing time in your current clientele has several benefits. You may benefit from the higher ROI and profitability that only repeat clients can offer for a comparatively small investment.