Once a customer visits your site, a relationship is birthed, one that must be nurtured. Your ecommerce website must be structured in a way that encourages purchases and repeat customers. Relationships are not a hit and run thing, gaining customer loyalty is the key to increased customer lifetime value.
An Internal research from social analytics platform SumAll reveals thus:
“25% to 40% of the total revenues of the most stable businesses in the SumAll network come from returning customers. Even better, steady customers help businesses weather lean economic times; businesses with 40% repeat customers generated nearly 50% more revenue than similar businesses with only a 10% repeat customers.”
New customers are important for business growth, but retaining customers is cheaper and more profitable. Returning customers trust your brand, and are able to make more purchases. Unlike a new customer who still seeks a conviction.
Below are 5 ways ecommerce businesses can increase customer lifetime value.
1. SEO for eCommerce Websites
For your customers, it is a great feeling for them to see their preferred brand on the top of search engines. It goes on to say a lot about the content quality of your site. How to do it? Simply.
Now, I would understand you if like many business men you are not in for this ‘traffic thing’ like the average blogger is. But then, more traffic increases your chances of landing new customers and strengthens the confidence of your returning customers.
Additionally, your customers are online and this means that they are constantly pumped with alternatives and they are always looking out for better deals. And investing in SEO for your ecommerce website ensures that they find you at the top of the game each time they go searching.
A little more knowledge is all you need to overcome the SEO challenges of an ecommerce website. Ecommerce is a very competitive line of business right now and all sites are competing for a slot at the top of search engines, that’s why you need to invest in seo. And unlike most ecommerce sites riddled with SEO errors, a little SEO guidance may be all you need to stay in the game and increase your customer lifetime value.
2. Content Marketing
Content is still king. Even search engines reward sites based on content. Don’t ever fall for the ‘keyword myth’, there still isn’t anything quite as valuable as valuable content online. It is impossible to communicate your brand ideas without effective content creation.
You need a strategic approach to creating and distributing valuable, relevant, and consistent content to attract and retain your audience — and, ultimately, to drive profitable customer action.
Your customers would be loyal to your store when they know that you are not just into a round of sales, but genuinely committed to providing them with relevant and meaningful content. Enlightening them on how to get the best out of your store is a great start. Expose them to items that best suits their style and items that usually accompany their preferences.
3. Pay Attention To Customer Service
Always create your own detailed product description. Besides knowing that you want to sell it, your customers want to know what you know and think about the product.
If you don’t have the exact product you customer desires, be quick to make a recommendation. This shows you care about them, and not just their bucks. Do some research for them, point them to products that complement their orders.
Keep communication lines open and active especially on all your social media platforms. You put people off when you say something like, “visit our online store then click on product…” no, just send them an easy link.
Top brands use dedicated twitter feeds just for customer service. You cannot afford to rely on comments and reviews on your store alone. Explore the social media. Ask them for reviews and publish them on your social media platforms. Retweet immediately they mention you, respond promptly.
Take your customer care service to their doorsteps and they would keep knocking on yours for a long time.
4. Email campaigns
People would visit your site, have a perfectly structured on-site pop-up that entices them to register on your Opt-in Email. That way, it becomes possible for you to send them mails without been perceived as a scam.
After each visit send a thank you note and offer an irresistible deal. Every visitor is a potential customer, some visitors to your store just need a personalized reason to place an order. And a personalized email can do the magic. If it is there the first visit, send them a welcome mail and show them how to navigate your site.
Whenever you fail to meet an order, send an apology mail promptly.
Bring your customers up-to-speed on recent products that match the items on their cards. Encourage them to clear their orders by inducing sales. “We are almost out-of-stock. We thought you might want to confirm your orders before that happens…”, sounds good, right? This can help you win back customers as well. Use attractive subjects for mails and deliver your message in a concise and compelling manner.
5. Reward loyalty
People love to be appreciated, we are all emotional beings. Once you are able to make a connection on an emotional level, you have their loyalty. And when others see how you reward loyalty, they would be moved to do business with you.
You could decide to feature loyal customers on your social media platforms. a ‘Customer of the week’, doesn’t sound so bad or you could just publish their testimonies or Offer them free coupons and discounts. Make them feel appreciated by all means. People do more when they feel appreciated.
Use contests and giveaways to induce marketing from your customers. Offer them free products or discounted rates in exchange for marketing.
There is probably much more you can do and much more you can avoid, but if you can get these points rights, you will run a successful store at the very least.