Top 12 Strategies for Increasing Customer Retention Rate

Steve Burns Posted On - April 16, 2013

Top 12 Strategies for Increasing Customer Retention Rates
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It is an established fact that for any business, customer is the King. Retaining the customers that an e-seller has acquired after putting in the best marketing efforts, great deal of strategical planning and proficient services, is crucial. Making the loyalists to stay for long is the key to business success.

Some of the Glaring Facts and Statistics for Customer Retention:

  • It is the well-drafted loyalty programs and rewards, which offer an impetus to the customers to come back to a web store for repeat purchase
  • Robust sales support and customized offers after purchase makes the e-shoppers happy
  • It is matchless customer service which helps in building customer loyalty
  • It takes a lot of effort almost five times more to add new valuable customers than to satiate and hold on to an existing customer
  • It is owing to the poor customer service that above 70% of the consumers have terminated the relationship with a known online retailer
  • When tracing out the probability of selling a product to an existing customer, it is around 60-70%. However, irrespective of the product quality and immaculate customer service, reaching out and convincing the new customers to complete the e-shopping process becomes very challenging with only 5 -20% agreeing to it.

Make the Delivery System more Robust

The delivery system of the products purchased should be a smooth one, providing the customers the ability to track the delivery process, offering higher customer satisfaction.

Getting the Packaging Right

That little extra effort that brings in a smile on the face of a customer on receiving the products is the eye-grabbing packaging that they shop online. Packaging, with its higher visually stunning quotient, is one of the best marketing efforts that the e-sellers can resort to.

Faster Delivery Options

The “want it now” factor looms larger on the mind of the customers. So speedier the delivery process you offer after they buy online, higher will be the chances of hooking the customers. The customers will come back to a site when they find that their orders have reached the desired destination in the shortest possible time. That is why Google is also trying out its Google Shopping Express.

Multiple Payment Options
For offering satisfaction at the checkout system so that a customer uses his spending power, a number of payment options is necessary to catapult the sales figure of a business merchant.

Making Things Easier for Repeat Purchases

Online shopping has gained popularity because of its time-saving and convenience factor. It is the custom-made offers, successful e-mail marketing campaigns, which makes the customers to come back to a web store and make repeat purchases.

Offering Great Support Post Purchase

After the completion of an online business transaction, it is not only the delivery of the products in the allotted destination which concludes the job of an e-commerce merchant. In terms of exchange or return of the products purchased, a good retailer should be co-operative, offering the same level of assistance to the e-shoppers.

Surpassing Customer Expectations

Customers would always love to be pampered and if an e-commerce merchant is able to offer more that overwhelms its existing customers, nothing can be better than that! It is an established fact that the potential buyers never fail to praise you when they are satisfied with good reviews capped in your website.

Personalized Offers
The web merchants in order to be successful online businessmen need to read the psychology of the buyers well so that depending on their preference and choice of categories and products that they seldom buy, attractive tailor-made offers can be given to them.

Attractive Offers and Hot Deals
The global economic climate reveals a very dull picture and people would love to save while engaging in the buying mode. It is the spate of attractive offers, handsome discounts and lucrative money-saving deals which make the e-shoppers to take the impulsive buying decision.

Spreading the Social Media Virus

Social media is about social engagement and the e-commerce merchants are going about spreading brand awareness. Though social sales is yet to pick up pace, the coming together of social media and e-commerce is definitely offering value to an e-merchant’s business and the customers. If customers are offered rewards like coupons, discounts for making their social presence more vibrant and favoring brands of their choice and being vocal in the social platform, spreading the social media virus is no big deal.

Great Customer Care Support

Many web stores flaunt they are available to take calls and help customers 24 x 7. Once they say, the web merchants should abide by it. Good customer care support is required to solve the queries of the potential customers so that they complete the e-shopping journey successfully.

Having a Commendable Customer Service Team

It is crucial for the web merchants to keep a well-informed and educated customer service team so that they can clear the doubts cropping up in the minds of the e-shoppers. This helps in reducing the number of cases of shopping cart abandonment, making an e-shopper to complete an online buying process.

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