4 Effective Ways to Boost Customer Retention

This is beyond any doubt that bringing in new customers is always very challenging for the marketers. Most of the time, marketers become so busy to attend new customers that unknowingly, they start to ignore the old ones! As a result, when they finally end up attaining some new users, cannot successfully sustain the old ones! This is such a vicious cycle. Here is some useful survey report that is going to help you to understand the situation better.

Usually, when you are targeting new users or customers, the conversion rate is about 1 to 3 percent. On the other hand, for the repeat customers, the scenario is entirely different. The percentage of conversion rates boosts almost 60 to 70 percent. More interestingly, almost 40 percent of the entire revenue of an online store comes through 8% of the existing buyers.

Hence, you can easily understand importance of keeping your existing customers happy and satisfied. Here is a list of 4 effective ways to boost the rate of customer retention in an online eCommerce business.

#1 Show Loyalty to Your Users

When customers are buying from you, don’t you think you should offer some loyalty gifts to them so that they can enjoy their shopping even more? One such way of showing the love for your customers is to give them exclusive offers. It’s not like customers are always visiting your website. So, how are they going to know about the discounts and offers? You have to send them notifications in a tactful way. Things become even better when you send personalised notifications to your customers.

For an instance, you can offer your customers a special discount on their respective anniversaries or birthdays along with a good wish message. This is surprisingly a very effective way to boost the customer retention rate.

#2 Use Social Media Platforms Tactfully

Technology is booming on each passing day and in today’s tech-savvy era, you are not unaware of the immense popularity of various social media platforms. People from different parts of the world are staying connected to each other through these social media platforms. Now, what you can do is to promote your brand tactfully on this huge platform reaching a vast audience at a time! If you properly use this, staying connected with your customers and interacting with them become smoother and efficient. More importantly, using such social connections along with easy integration of shareable things, your brand becomes popular among the friends of your customers. This is undoubtedly an impressive way to augment the conversion rates.

#3 Communicate Efficiently

While communicating with your customers, be a bit careful so that it doesn’t sound like a “spam”! An effective way to communicate with your customers is – ‘push notification’. However, try to add a little bit flavour of personalisation with your notifications. Otherwise, users are simply going to ignore your push notifications thinking of it as a spam. Moreover, be a bit judicious about the time of sending push notifications.

Suppose that you run a restaurant business and sending your customers notification about availability of special lunch coupon during midnight! Does this seem logical at all?

#4 Offer Easy Payment Methods

The more payment options you offer to your customers, the more people would find it comfortable to do shopping from your online store. Suppose that your online store has only one payment method. Then you would be losing all those customers, who don’t have facility to make payment through that particular method. Thus, providing more payment options would automatically increase the chances of conversion rates.

Another crucial tip is not to use too many distractions on the checkout page. It is advisable to keep it clean with a minimal design so that the customers can easily understand what they have to do next to complete the purchase process.

Apart from all the above-mentioned points, you can consider taking a philanthropic approach while concentrating on boosting the customer retention rates. Another vital thing to remember is that you should not make the checkout process too complicated. According to some survey report, almost 68% customers leave the checkout pages without completing the buying process! This is utterly frustrating for the business owners. Hence, while designing the checkout page, be careful on the things that you ask your customers to update your database. Keep the entire process simple and short and obviously, user-friendly.