Retention Rate Optimisation
Retention rate optimisation is an aspect that marketers often overlook when forming a company’s online strategy. Existing customers spend much more than newer ones, and customer retention is much cheaper than acquisition too.
Optimising retention rate is crucial to business success, and that is why it is a focus at VS Digital Media. After all, the customer’s journey does not end when they buy your product or service. By focusing on the lifetime value of your clients, rather than a one-time purchase, our skilled team can help your company to strengthen your customer relationships and drive important sales. If you want to boost revenue, you must focus on retention.
How do you engage customers after the purchase?
- Ask Customers for feedback or product review
- Give a coupon for future purchase
- Give small amount of cash back from their previous purchase
- Product recommendations
- Cross-sell and up-sell offers
- Incentives to connect with you on social media
The Key is Customer Satisfaction
The list of strategies above are rarely effective without obtaining total client satisfaction. Achieving this satisfaction is necessary, especially for e-commerce businesses to generate ongoing genuine customer reviews, which provides feedback as to what your customers honestly think about your company.
You may be surprised at how this minor free or low-cost detail can significantly improve your online reputation and sales conversion rate, as well as your overall business success and approach. There are numerous tools on the market that can help you to generate reviews after client purchase. The simplest way is to start with a free membership at Checktick.com.