Do you know it’s a lot easier to get current customers to make a repeat purchase than it is to acquire a new customer?
It is not only easier but it’s cheaper too!
That’s why it has become imperative that as an online business, you have a cohesive Customer Retention Strategy.
A customer retention strategy is simply a set of initiatives put in place by a business to ensure existing customers return to make more purchases and become an evangelist for the business.
Here are some Customer retention strategies you can start implementing from today
- Send a follow up email after every first-time purchase: Let customers feel valued by sending them a ‘Thank You’ email after their first order on your Seller store. This email can include other information such as your mission statement, your values e.t.c Sometimes, simply communicating what you stand for is enough to inspire customers to return.
2. Launch a customer reward program: Create a reward program where customers can earn some points for each purchase and specific actions. This is a great way to make customers return to your store as they anticipate finally being able to redeem their racked up points.
3. Ask for feedback and actually implement them: Customer feedback is an opportunity to improve your product and customer experience. Always ask customers for feedback on how to serve them better, this can be done by administering a survey after the first purchase.
4. Offer stellar customer support: Nothing beats a fast, friendly response / resolution to a customer’s enquiry / complaint. Going that extra mile to delight customers will not only earn their loyalty but encourage them to evangelize your product.
5. Offer discount off their next purchase; Offering first time buyers a coupon code redeemable on their next order is a guaranteed tactic to bring them back again.
Think of a time you felt appreciated by a online business when you purchased from them. What was the one thing they did that made you feel this way? Customers who feel appreciated after a purchase and had a fantastic experience will always return to make another purchase and refer your business to others.
Implementing these strategies is easy and often times wouldn't cost you a lot but will go long way in driving repeat purchases for your business.
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