You want to keep expanding your sales as a retailer from time to time. To do this, you must not only focus on attracting new customers but also on ensuring that your current customers make repeat purchases. So it is not only enough that you have made your website from the best website development India.
Yes, they are big platforms with many users, but subscription money accounts for a significant amount of their earnings. Netflix acquires new subscribers and rarely has to market to them again. Amazon uses the money it makes from Amazon Prime subscriptions to improve logistics and other elements of its platform.
What is Repeat Purchase?
Purchases made by a valued customer are known as repeat purchases. These customers are well-versed in your brand and are frequently motivated by a need for convenience. Why change something that is working?
The purchase journey of recurring customers differs from that of first-time buyers because of these characteristics. New users to e-commerce sites or applications, for example, spend their time reading the pages, looking at different products, and comparing pricing. On the other hand, return consumers know exactly what they want and will walk right to the store to get it.
Tips to Increase Repeat Purchase Rate:
The following are some practical ways for increasing your eCommerce the business’s recurring buy rate-
1. Incentivize your Customers with Points
By far, the most prevalent sort of customer loyalty program employed by retailers to drive repeat purchases is point programs. Customers commonly earn points when they make a purchase, provide a product review, or post anything about the brands or products on social media. Encourage additional sales using discount codes and coupon codes.
The points can then be exchanged for a variety of appealing prizes or discounts, which can be tailored to each customer’s interests.
You want to develop personalized ways to communicate with the customer to improve the customer experience. Making consumers feel good about the purchase they just made by offering pertinent updates is a key component of this as this helps to increase the customer Retention Rate for your store. This could entail guiding them through an engaging welcome sequence that provides value to the product they just purchased.
It is the responsibility of e-commerce marketers to improve this component of the consumer experience. Not only will this increase the likelihood of repeat purchases, but it will also lower the return rate.
3. Build an Email List
Sending regular, tailored emails to your customers and admirers is a tried-and-true eCommerce tactic for encouraging repeat purchases. Unlike remarketing advertisements, Google Ads, you don’t have to pay to reach your email list or social ads.
Emails allow you to continue building a relationship with your customers before and after their initial purchase. An email has the highest conversion rate at 4.29%, followed by search in second. Send a follow-up email that shows similar products that they can add to their purchase.
However, while sending email is simple, it does come at a cost. Each email you send captures your subscriber’s attention, and if they don’t find your communications interesting enough to keep reading, they may start to tune out your brand. Using Send frequency optimization can help you prevent this problem by reducing the number of emails sent to subscribers who are showing signs of falling engagement.
4. Answer all Questions and Comments
Although 80 percent of businesses believe they provide exceptional customer service, only 8% of customers agree. A satisfied consumer is a loyal one. Excellent customer service and responsiveness should come as standard. Responding quickly when clients contact you is critical if you want to create long-term relationships with them.
Long-term clients are more likely to spend more and become more loyal with each purchase. Dedicating personnel resources to customer service will almost certainly have a larger return on investment than that new ad campaign you’re considering.
5. Targeted Post-Purchase Message
Many brands may have made the error of halting targeted messaging once the purchase has been completed. Personalized post-purchase engagement can leave a positive and lasting impression on your clients and help them remember your brand when they need to repurchase.
The number of previous purchases and how long they have been a customer directly impacts how much a repeat customer spends. Average repeat purchase rates for e-commerce may vary widely and the average repeat purchase rate is around 28%.
Remember that long-term customers spend more and typically become more loyal with each additional purchase. Repeat customers spend 300% more than one-time buyers.
Keep consumers engaged by offering them helpful information or relevant recommendations to help them get the most out of their new purchase, such as a video of hair and make-up techniques for customers who bought beauty products or a blog article about parenting advice for customers who bought baby products.
Use marketing automation software to provide this content to your customers in real-time via email, in-app messages, push notifications, and other channels.
6. Loyalty Programs
Loyalty programs are a simple approach to increase your repeat buy rate.
One of the elements that online customers consider when deciding where to shop is the possibility of collecting loyalty benefits for purchases. For at least half of their purchases, 35.5 percent of buyers worldwide use businesses with loyalty programs. 91.9 percent of these make purchases to receive loyalty benefits. Loyalty programs encourage clients to keep doing business with you by incentivizing future purchases.
7. Use a Subscription-Based Model
Another excellent method for increasing repeat purchases is to have clients join up for a subscription service provided by your store. Rather than hoping that the consumer will return to your store on their own, you may encourage them to do so by offering them discounts on your products if they sign up for a monthly delivery, for example.
Granted, not every online store will be able to use a subscription-based revenue model. However, if you’re creative, you may come up with fantastic techniques to spark your client’s attention.
8. Solve Cart Abandonments
Abandoned cart emails are a powerful tool for regaining lost consumers and have a high return on investment. In reality, over 40% of abandoned cart emails are opened, and half of those who interact with the email’s content go on to make a purchase!
Offer a free shipping incentive to motivate customers to complete their orders, especially because shipping concerns are the most common reason carts are abandoned in the first place. Customers who convert after receiving an abandoned cart email are more likely to spend more money.
Hail Your Customers for Better Business
As the saying goes-“Loyal Customer is King” understand your customer’s behavior for your business to be successful. Understanding and enhancing repeat purchase rates requires an understanding of customer behavior.
Consider these tips and begin evaluating your stats to determine what has shown to be the most effective with your consumers thus far, and then develop a retention program from there. Get help from the best website development India who are ready to help you leverage your business to the next level.
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