The 80/20 rule is applied in many aspects of corporate business, but it shows its real importance when it comes to retaining customers. In this context, the rule is that for most companies, 80% of the profit comes from only 20% of the customer base.
Of course, this arrangement may mean creating obvious problems: if you lose 20% of your customers, you will make 80% of your profits.
As retaining customers is essential to the success of your e-commerce business, this week we highlight five different strategies to help you improve the way you retain your customers. Whether you have recently entered the business world or have a significant presence in the industry, you should implement these strategies as soon as possible.
The Internet has evolved considerably in the last decade and this means that consumers are expected to have customized services when they are online. For businesses, customizing messages and content means providing a brand that consumers love to interact with, and user-specific content is known to deliver better results than others.
To achieve this, however, it is necessary to preserve data in an easily manageable manner. The availability of information such as names, email and demographic data is of great value only if it is easy to use in creating customized content.
Here comes the importance of our second strategy:
Make an effective CRM strategy
Having a strong CRM or CRM strategy may seem obvious, but you will be shocked to learn that many companies are not focused on this aspect. In fact, all these companies are making a huge mistake.
A garden study found that CRM users save 27% higher to stay as customers after implementing this system. Although CRM uses are not focused on this aspect, they are an essential means of retaining customers.
Take advantage of automated speakers and chat robots from Facebook Messenger
For small businesses, they certainly don’t have all the resources to be in service all hours of the day, but using automated speakers who follow the automation system can help a lot in serving customers. Chat bots are a new phenomenon, but they are important if you want to connect with more customers and keep them.
When customers search your site they want to feel that they are a priority for you, and the automated speaker ensures this is done. A recent study has shown that automatic speakers have helped keep customers for much longer than traditional methods.
Gamification has been applied in the world of e-commerce for many years and is still one of the best methods used to attract users’ attention and make them make purchase decisions on your site. Gamification is a unique idea that helps drive consumers to make multiple purchases.
Simple items such as rewards, rewards and motivational words help keep your customers. When combined with other methods such as customer loyalty programs and email marketing, Gamification delivers unparalleled performance and helps you retain customers longer.
Email marketing is an effective way
We’ve made this point a lot on our blog and we’re back to emphasizing it today. Email marketing is still one of the best ways to bring consumers back to your site. Research shows that sending loyalty emails helps keep the user a customer of your site and helps you earn more.
The secret to this aspect of success is that you collect as much data as possible about users when you prepare these messages. Having more information about consumers means you have more ways to segment and personalize your messages (as in the first strategy), which means you can better communicate with your audience.
Maintaining customers is an essential aspect of a The Kibo Code e-commerce success and plays a pivotal role in brand growth. The good part here if you want to focus on this is that you often have 20% of your customers who can support this growth. Instead of waiting for them to take the next step, you should start and implement these five strategies to see significant growth in your E-commerce business.