A marketing survey discovered that just slightly more than 30 percent of buyers may buy the second time as customers in the first year of patronizing a business. It simply shows that except you discover and adopt an effective strategy to retain your customers, you will keep losing most of them after the initial purchase.
Why Create a Retention Technique?
The first reason is that it is easier to sell to the customer you already have. You are most likely to get repeated purchases from existing customers compared to new or potential customers. Another reason is that your revenue can skyrocket even if you retain only 10 percent of your old customers. So, if you invest more in customer retention than customer acquisition, you will gain a greater competitive advantage.
Here are proven customer retention techniques to help you stay on the lead always;
1: Display Value
Often, first-time customers simply want to meet a pressing and immediate need. They may not come back except they find reasons to. This is why at each point of contact with a buyer, you must make sure the entire experience is worth the decision to come back and buy from your brand again.
One of the strategies is to engage your first time buyers with valuable contents. And, these contents should keep pouring in without losing value. Tutorial videos and insightful product reviews are examples of engaging contents to make visitors spend time on your e-commerce websites. Also, your product description should be both persuasive and memorable.
2: Use a Win-back Email Campaign
The conversion rate from well crafted email campaign is amazingly high – even higher than most e-marketing channels. But the problem is that most subscribers on an email lists are inactive and messages are often routed to spam. What you need is a well crafted win-back email campaign. This in turn promotes higher deliverability rate and ultimately boosts conversions. A win-back email has a higher open rate of 12 percent.
3: Do Not Promise What You Can’t Deliver
It’s even better to promise less and deliver more. The fastest way to chase customers away is to fail on your promises to them. For instance, if you can’t keep up same-day delivery, why make the promise in the first place?
Dissatisfied and irritated customers won’t hesitate to look elsewhere. Instead, you should include extra days to the delivery duration you are quoting in case something goes amiss and the order can’t arrive same day.
Finally, you are probably not reaping the desired result from online marketing because you’re not doing it right. Consider leveraging expert help by outsourcing online marketing.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams