This graph shows the earnings of two companies. They each had 100 customers who purchased $ 10 worth of merchandise every month. The gray line indicates the company that managed to retain 5% of customers, in the pink line – the one that managed to retain 10%. Obviously, even a 5% increase in customer retention can lead to a significant increase in profit.
Step # 5: Develop the perfect customer experience.
Personalization today is one of the key points that determine the success of an online store. It helps turn one-time customers into regular customers.
By personalizing the customer experience, marketers are driving a 19% increase in sales. In addition, 9 out of 10 shoppers say personalization affects them at the time of purchase.
There are dedicated personalization tools on the market. As such, providing the user with an exclusive shopping experience is no longer expensive.
A personalized customer experience should include specific recommendations based on search history. This will help optimize conversions.
Step # 6: Customers must have enough reasons to stay on your site.
Find and think carefully about ways to convince customers to spend as much time as possible in your online store. Sales analytics and reports will give you a starting point. This is where you will see which of your products are the most popular, as well as which pages of the site users visit most often.
In addition, it will be very useful to display your clients’ recommendations and testimonials on the site. This kind of user-generated content not only improves your site’s position in search results, but also increases the credibility of your company.
Step 7: Develop a loyalty program.
Loyalty programs make your customers feel privileged. Developing it can be challenging. However, a loyalty program backed by an effective incentive can significantly increase sales.
Giving customers a certain number of points for each purchase can be a great way to get them to buy your product over and over again. There are also special programs whose members receive unique discounts as well as access to sales. You need to understand which loyalty program will work most effectively for your business.
Step # 8: Get Rid of the Abandoned Cart Problem.
Often there is such a situation when a customer added an item to the cart, but did not place an order. In fact, the average shopping cart abandonment rate in online stores is 65.23%. For an online store owner, this is a significant indicator, as he speaks of missed opportunities.
According to eMarketer research, 56% of shoppers hope to complete the purchase process later. You can send these customers emails to remind them that they have added an item to their cart. This entire process can be automated by sending users emails one by one to increase the likelihood that they will return to the site.
Step # 9: Finding ways to help bring the customer back to the site.
Create a so-called promo calendar, which will identify events that help bring customers back to your site. For example, social media campaigns are the best way to increase your brand awareness, while retargeting and email marketing can help motivate customers to convert.
Featured products and seasonal sales are great excuses to send your newsletters to your customers. Make sure your emails are personalized and that the products you offer will be truly useful to each specific customer. Use automation tools that allow you to segment buyers based on their interests.
Do not forget that even the most loyal customers can go to competitors if they offer them a better service and are more active in terms of organizing a marketing campaign. Work to automate your campaigns and always look for the right excuse to email your customers.
Step # 10: Perfect Customer Service.
When your company first hits the market, it seems like customer service is not something to invest heavily in. However, once your brand name is already on the rise, a smart and effective customer support policy can help you effortlessly increase your conversion rates and build a strong bond between your company and your target audience.
First of all, you need to place the contact information of the support service in the most prominent place on the page of your website. This will help build trust among users. You can also use tools such as live chat. If customers are confident that it will not be difficult to contact you, then it will be much easier for them to decide to make a purchase. It is also advisable to have a frequently asked questions section on your site. This will allow buyers to find the information they need for themselves.
Developing an effective customer journey can seem like a daunting task as it requires making changes to the sales process itself. But when you manage to cope with this and look at your company through the eyes of a client, then optimizing the conversion of your online store will no longer seem difficult and costly to you.