Acquiring a customer may still be easily achievable; the task is to convert them into loyal repeat buyers. There’s no denying that E-commerce market is flooded with options and some businesses don’t make it to profits. But, if you happen to win the loyalty of a few of your customers, your profits can increase about 15 times.
The challenge is, (a) how do you keep the existing customers happy & glued, (b) how do you attract new customers?
The solution is to keep the existing customers happy & they will get new customers to you.
More than 50% customers will pay more for a product if they’re getting a good experience
No customer ever forgets a bad experience and if their experience is positive then there is a very slim chance they’ll ever go elsewhere.
Companies should invest in getting every customer facing employee trained for interpersonal skills. A customer facing employee in this case would apply to customer care executives, social media managers & salesmen. Employees are representatives who must always be neutral and would know how to deal with every kind of customer. They must know how to never lose their minds on angry customers & should know how to go the extra mile & treat a happy customer.
As a marketer, your job should be to give value addition to customers that’ll make them feel special. This does not quantify to only giving gifts and discounts. This activity has to go beyond that.
Send personal hand written messages; send birthday and anniversary (again personal) messages. Don’t make this process an automated process. That is the worst way to treat your customers.
Last but the most important, always put solving your customer’s issues as your top priority & try and solve it within the most reasonable timeline.
Customers that have more privileges from the brand feel empowered
We’re a big fan of loyalty programs. It gives your customers the chance to become exclusive members who get tailored benefits that keep getting better with time; free upgrades, VIP access & priority treatment.
Who does not like that?
It is sad how many companies do not give importance to loyalty programs. It is one tactic to make customers stick to you to avail better benefits in the long term. We can learn from the best in the market; Marriot.
After you get customers on boarded to the loyalty programme, your chances of losing them reduce drastically.
Extend your customer interactions beyond the stores and website
Multinational companies & some large B2B companies have a different style of meeting and interacting with their customers. They create special customer centric events, introduce them to media, and glorify their association. This quietly builds a positive atmosphere for the brand & they attract new customers automatically.
Why don’t we do it at this scale for e-commerce businesses? Just because it’s online, does not mean you can’t meet your customers in person? Brand-customer relationship strengthens when there is a face to face meeting. The moment you put a person behind the brand the emotional bond is built & it also increases credibility.
Invite your top customers to special launch of your products, or include them in your marketing activities & turn customers into brand custodians.
Therefore; (a) Consistent good experience, (b) Loyalty program with actual benefits & (c) Meet & greet events will increase profits from your e-commerce business.