How to Turn First Time Customers Into Repeat Customers
Earning the first sale from a customer is always considered the hardest. Depending on your domain, product, and pricing, it can take days to months to convince someone to make a purchase. In highly competitive retail industries where sales are quick and impulsive, many businesses struggle to gain traction with new customers. However, it’s not just about gaining new customers but retaining them.
According to research by Bain & Company, increasing customer retention by 5% can potentially increase a brand’s profitability by 95%. The trick is approaching your relationship with new customers as something you want to grow long-term. Learning and trying to better understand existing customers to support their needs. This improves the chances of them continuing to do business with you and gives you more tools and tactics to target new customers like them.
With that in mind, let’s take a look at 5 subtle ways to convince your first-time buyers to come back for more.
1. Invest in real-time support
With digitization and automation, customers anticipate zero wait time. As many as 80% of online shoppers expect businesses to reply to their queries in real-time. Any delay on your part is a reflection that you don’t care enough about their problems. There’s a need to make yourself readily available to offer a great customer experience.
Live chat is the most effective means to offer real-time support. With it, you can get more context on their problems by seeing exactly where they are in the process. The best part is that it’s more conversational and far more accessible than email support. Plus, through live chat software, your agents can work remotely, making it easier for your team to deliver 24/7 support.
What about AI chatbots?
Sure, AI chatbots are even more prompt and try to resolve all the problems a customer might have. However, it’s not for everyone. Chatbots often redirect users to support landing pages or live agents for more personalized support. You may find that there is a benefit to running both a chatbot and live support option. Ask a few quick questions to divert common questions or bring users to a customer service member. Experiment with the questions you ask and refine which option appears. This ensures a great experience for both your customers and your team.
2. Deliver a hyper-personalized experience
The service you offer your customers is the biggest competitive differentiator you have. It’s no longer enough to be efficient; it’s about meeting specific needs. Hyper-personalization is the next big thing. Customers buy from brands that cater to their increasing demands for fine-tuning.
Hyper-personalization can vary from calling a customer by their name to suggesting new products and services based on their previous interaction with your brand. In eCommerce, Amazon exemplifies hyper-personalization by leveraging predictive analytics and historical and real-time information.
Start by leveraging lead generation forms and collecting contact information for email communications. Deploy targeted ads by segmenting your user base based on shopping patterns and browsing behavior.
3. Address customer feedback
Now that you’re actively encouraging repeat purchases, you must listen to what your customers have to say. Take a proactive approach to collecting customer feedback. This ensures you stay close to what the community needs, even as expectations evolve.
Rely on a voice of the customer program to better track and respond to feedback. Use surveys, social media listening, contact forms, interviews, usability tests, and website analytics to collect feedback. Leverage insights gained from your customer support team to better understand what your customers want and fine-tune your online store.
4. Start a loyalty program
Encourage repeat visits by rewarding customers through a loyalty program. Offer perks or rewards for continued purchases. Design a reward system based on total dollars spent that gives users a greater selection of options. Loyalty programs contribute to increased repeat purchases and improved transaction size. They can also incentivize referrals, user reviews, and purchases beyond a certain threshold.
Build a loyalty program that understands your present customers, measures satisfaction, sets realistic goals, and targets specific customer segments.
5. Send personalized gifts and incentives
Express gratitude by sending simple thank-you notes or personalized gifts. Your gifts should reflect your business. Offer cashback or other incentives for purchases beyond a certain threshold. Encourage customers to leave reviews and incentivize with small discount coupons.
Building lasting relationships takes time, but the payoff is worth it.
Keep your customers coming back
Repeat customers are what give life to businesses. Implementing the above 5 points will ensure that you cut your churn rate and entertain more happy and satisfied customers that keep coming back.
Hello!
I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
My career is built on a foundation of helping individuals and businesses thrive financially in an ever-changing economic landscape. At phonenumber247.com, my aim is to demystify the complex world of finance, providing clear, actionable advice that can help you navigate your financial journey with confidence. Whether it’s personal finance management, investment strategies, or understanding the nuances of market dynamics, I’m here to share insights and tools that can propel you towards your financial goals.
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