Finding new customers can be one of the most challenging aspects of running a business, which is why it is so important to look after the ones you do have to convert them into repeat buyers and loyal customers.
Targeting people who have already bought something from you makes sense because they have already shown an interest in your company and products, have disposable income, and are willing to spend it, and they already know your company and platform.
A lot of the hard work has already been done at that stage, and reports indicate that online stores gain around 43% of their revenue from repeat customers. While impressive, it has been shown that this number can increase to as much as 75% with a bit of time and effort spent creating an environment that encourages repeat business.
One of the best and most common ways of doing this is by offering special offers and discounts to existing customers to make it easier, cheaper, and more enticing for them to return to your platform. You can also personalise these offers based on what you know about the customer to make the offer feel special to them.
It is an effective strategy in most industries, not just retail and e-commerce. For example, it is also used extensively by companies in the iGaming industry by some of the top companies, as can be seen in this LeoVegas review. The method is so popular because it also allows companies to track which special offers are compelling so they can become more effective and impactful over time.
However, it is essential to remember that these are special offers and discounts, and for them to remain special, they can’t be dished out to everyone, and products cannot be discounted forever. If items or services are offered on special too often or for too long, it will create the impression of what the product is worth among customers. So don’t go overboard.
Another very effective method for creating repeat business is to invite customers to join a loyalty programme at checkout. You can even encourage this by including a special offer or benefit for joining the loyalty programme that will reward them right there and then.
Loyalty programmes work so well because it is a genuine win-win for both the customer and the business. The customer gets all the benefits that matter to them. At the same time, the company can start collecting key data about customers, such as demographics and shopping behaviours, to enhance their shopping experience even further.
Something that can often be overlooked by retailers, especially offline, is to provide customers with a way of tracking their orders and deliveries after a purchase has been made. This is a relatively easy additional level of engagement to add to your customer experience, and it can have a considerable upside.
People are excited when they have purchased something new. You can add to the sense of occasion by providing notifications at key points on the parcel’s journey and potentially adding live tracking so the customer can know exactly what is going on with their package.
Not only does this provide more excitement, but it also adds the feeling of safety and security for the customer when they know exactly where their parcel is while, at the same time, giving you an additional touchpoint to engage with your customers. Why not throw them another special offer or encourage them to view some other products while they wait for their order to arrive
Most of all, make sure your repeat customers know just how important they are to your business. Be courteous and thankful to all of your customers but don’t be afraid of giving repeat customers some extra attention, especially your biggest clients.
If you have people spending a lot of money with you, send them a note saying thank you, or even a little gift. Invite them to be a part of special consumer feedback panels, give them access to new products before others, and generally make them feel special and a part of the process.
These people have shown you they are very interested in your brand and product and prove it with their hard-earned money that they could have spent anywhere else on the internet. At the very least, involving them in this way will make them feel a bit special and, at best, could well create a customer for life.