The answer to this is – Never. And definitely not when simple logic dictates that you are. When does it dictate that? After the purchase. But you’re not done, you’re just at the beginning of what marketers call a “post-purchase experience”.
As an online shop (or any business for that matter) your main goal is simple – make sales. But your customer life cycle shouldn’t end after the purchase, you want that customer to come back. You want loyalty. There are numerous ways to achieve that:
- email campaigns
- social media campaigns
- adopting a CRM system
You may even have a person employed specifically for that. Does the title Loyalty Manager ring a bell? But do you do everything you can to make sure that your customers come back, do you have everything covered?
By now you should know that it’s customer retention, and not acquisition that is the king of sales, and key to your business growth s8eo3tb check over here. The proof is in the numbers: according to studies done by Bain & Company, increasing customer retention by 5% can lead to an increase in profits of 25% – 95%, and the likelihood of converting an existing customer into a repeat customer is 60% – 70%, while the probability of converting a new lead is 5% – 20%, at best.
To better understand the importance of loyal customers (and to understand their behavior) track, measure and monitor customer value, especially customer lifetime value. Instead of measuring individual sales alone, use your database to measure sales by customer. Customer lifetime value assigns a score to customers based on recency, frequency, and monetary value of their purchases. The higher the lifetime value, the more you invest in retention efforts with that customer, since they are considered a ‘good’ customer for your company.
What else can you do?
Well this being a blog of a shipment tracking software company, let’s talk about that.
What’s the most important thing to a customer after he or she clicks that magical purchase button? To know where the shipment is, and that it’s arriving on schedule and to its destination. Usually sellers leave that up to outside shipment trackers to handle. By doing that they’re missing another precious opportunity to engage with their customers and build relationships. When a customer wants to check the status of the shipment, wouldn’t you want them to go back to your website? Have a chance to provide them with extra valuable content? Cross-sell?
Too often this, key part of post-purchase experience is being forgotten by businesses. The examples I mentioned above come naturally, but implementing shipment tracking seem to fly over the head of a lot of marketers out there. Software like Packpin brings your users back to your website, with emails notifying the customer about shipment updates reaching CTR as high as 60.4% (!) and there are more benefits:
- 5 additional customer visits per user
- 40% increase of user retention
- 80.5% email open rate
Allow your business to bloom, there are so many tools for you to utilize, don’t be wasting.