Acquiring new customers to any website is not as easy as it used to be previously when e-commerce was a brand new experience and people were damn excited about purchasing stuff online. Today. There’s a growing demand to employ various tactics and strategies in order to increase the repeat customers. These strategies called customer retention have become an inevitable part of carrying out businesses. It’s much easier to keep existing customers rather than creating new ones.
Also it’s far more expensive to find a new customer than retain an existing one. Happy customers are likely to tell their friends and family about your business brand, which will increase your sales opportunities.
Also, the relationships that you build with your customers will define how your company moves forward. This is where you will see the importance of customer retention.
Here are some of the tips to keep in mind when you work on increasing repeat customers.
Identify what works for you
This is one of the most important requirements.
You must ensure that the customer retention strategy that you employ is measurable using the following metrics:
Repeat Customer Rate:
This refers to the measure of percent of your fellow customers who are likely to become repeat customers.
Purchase Frequency:
This refers to the average number of purchases made by a customer over a period of time.
Communicate with your customers
The email marketing must be taken care of in such a way that it does not suffocate your customers of your existence. Make sure that Transactional emails, product update mails, cart abandonment emails etc are properly timed and spaced to avoid making the marketing intent complicated.
Email marketing is necessary to build trust and genuine relationships with your customers while increasing the purchase frequency and customer retention rate.
