According to a recent Marketing Metrics report: "The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is 5-20%". Consequently, it is imperative that e-commerce websites improve their customer retention levels in order to secure the financial success of their companies. To help you do this, listed below are our top three methods which you can utilise to retain the custom of your existing clients:
If you create a customer loyalty programme that rewards your clients for their future custom, you can improve your e-commerce company's profit margins and boost your brand reputation. From offering voucher codes at specific times throughout the year to presenting exclusive discounts for both new and existing customers, loyalty programmes such as these will enable you to captivate the interest and buying habits of your customer base.
Email newsletters are simple yet highly effective digital marketing tools that can be utilised to establish an active online platform through which you can directly advertise your company's latest products, services and business objectives with your customers. You should endeavour to fill your company's email newsletters with original and engaging content, such as images and multimedia content, and provide links to your company's various social networking profiles. This will enable your customers to share your content across their own social media outlets, which will in turn generate more traffic towards your e-commerce website.
Both the customer loyalty programmes and the email newsletters mentioned above can be cultivated in accordance with highly proficient customer analytics reports. For instance, if your company carries out targeted customer analytics research which reveals that younger buyers are more inclined to purchase specific products, you could send an associated voucher code, discount offer or email newsletter to these particular consumers. By investing in customer analytics reports, you will be equipped with the necessary resources to appeal to your customers with individually tailored content.
These digital marketing strategies will permit your e-commerce company to establish itself as an organisation that delivers an exceptionally high level of customer service to each and every one of its clients.