You invest a lot of time and effort to acquire customers.
But are you doing enough to retain them?
eCommerce businesses spend enormous amounts of money to make customers click on that “Buy Now” button. And if your customers are going to forget you after a single purchase it is a huge opportunity gone down the drain.
Customer experience is the biggest competitive leverage a company could use to engage and retain customers.
Most eCommerce businesses make this mistake…
Do you believe that your customer journey ends the minute they place an order?
The short answer is no.
Your customer is still your customer even after they enter that credit card number.
Much after they click on that “Buy Now” button.
You need to have a strong post-purchase strategy to win back customers.
To keep that cha-ching sound ringing constantly.
Here’s why it is important to have a strong post purchase strategy
It is 5X more expensive to acquire customers
According to a study by Frederick Reichheld of Bain & Company, increasing customer retention by just 5% leads to a 25% increase in profit.
The speed and volume of technology allows millions of online stores to seamlessly operate in online spaces. It is important to offer delightful customer experiences to stand out from the crowd.
Do you know the peak-end rule?
According to the peak-end rule people judge an experience by the most intense point and the end point. It is a psychological heuristic popularized by Nobel prize winning psychologist Daniel Kahneman.
The theory states that people don’t judge based on the sum of the entire experience. But remember the most intense point of a journey and the end.
How your customers perceive your eCommerce brand depends to a large extent on the post-purchase experience you offer.
Here are 7 easy to implement win back strategies you can use to grow your eCommerce business
A recent survey by Podium reveals that 93% of shoppers are strongly influenced by product reviews.
The easiest way to gain trust capital is to ask for and display customer feedback.
It can help you prime your customer for their next purchase after a positive buying experience. Always respond proactively to feedback.
5. Personalization- the key to game-changing eCommerce experiences
Customer expectations are changing at the speed of light.
They are not leads.
They are not prospects.
They are not sales opportunities.
They are people. Treat them like one and they’ll fall in love with the buying experience.
And that is why personalization plays such a key role in retaining and delighting customers.
Creating personal interactions and experiences lies at the heart of all meaningful customer-brand relationships. Strengthen yours by providing product recommendations based on purchase history, recently viewed products, past marketing touches and buying journey.
This is a good example of personalization by very.co.uk. They’ve personalized their homepage based on the purchase history of the customer. And the icing on the cake is that product recommendations are weather sensitive as well.
ASOS is another stellar example of personalization done right!
Provide responsive support
Great brands have one thing in common. They offer great support.
Be there when your customers need you the most. Offer support through multiple channels.
Provide a relevant and constantly updated support doc library. Send out support documentation based on the users query automatically.
Reward your customers for loyalty
What is viral marketing?
It is not getting the most shares or Facebook Likes.
Viral marketing is about creating strong viral loops.
And there is one viral loop that can keep your revenue engine running. It is loyalty points and refer-and-earn programs.
Provide your customers with loyalty points and special discounts. Offer real and tangible value through your offers.
Sephora’s Beauty Insider program is probably the most widely cited case study on how to get customer reward programs right.
There are hundreds of eCommerce stores trying to lure away your customers.
To delight your customers and make them come back for more, provide a stellar post-purchase experience.
Stop chasing customers. Make them come back to you.