More than 50% of repeat customers make their second purchase in the same product category as the first.Īs a retailer, finding a way to engage with first-time customers and make them repeat customers is key to growing your business. The trick is coming up with the best ways to entice a customer using retention tools and strategies.įor more retention tips, click here to read “The top 10 reasons for customer churn and how to battle them.” 6. O that customer has made a second purchase, the likelihood of them making a third, fourth, and more is much greater. You still need to coax that customer to come back a second or third time to increase the chances of making another purchase. Two-time shoppers have a 9x chance of making repeat purchases than one-time buyers.Įven after the first purchase, the likelihood of having a returning customer is still relatively low. Click here to read our practical guide, “An upsell marketing strategy to convert the second sale.” 5. Luckily, customer data and insight tools can help you easily convert one-time buyers into repeat shoppers. Ensure that you keep these customers coming back for more by personalizing your follow-up communications. ![]() Note that new customers haven't formed any association with your brand, so you need to nurture them beyond their first purchase. However, that could be their first and only purchase from your business if you don’t have a focused upsell and cross-sell strategy in place. There is nothing as satisfying as a customer making their first order with your brand. On average, 50–80% of customers are one-time buyers. With continued communication through email, customers have a higher chance of making repeat purchases.Ĭlick here to read our how-to guide on using paid social to grow your email database and re-engage opted-out customers.Ĥ. This way, customers can continually receive updates on upcoming sales, marketing messages, and more. However, most of today's customer journey takes place in a virtual space, so most brands and retailers are making efforts to ensure that many customers subscribe to their email communications. Repeat customers provide greater value to your brand at a lower cost, so you have to work towards keeping them happy. Customers who are subscribed to email communications often have a 20–50% greater lifetime value than those who are opted-out. For most of the brands we’ve worked with, a large portion of their lapsed customers is opted-out of email-which means that you need to use omnichannel re-engagement strategies to reach these customers, retain them, and grow their lifetime value.įor example, Wondercide used Lexer’s CDP to identify and target opted-out customers with personalized direct mail campaigns, driving a 600% ROI. However, this only works for prospects and customers who are opted-in to your emails. The end goal is to ensure that the customers associate with your brand and continually choose your business over others. Many businesses use email as their primary channel for marketing, growth, and retention. For most brands, more than 2/3rds of lapsed customers are opted-out of email. Interested in learning more? Click here to learn our 4-step process for identifying and acquiring high-value customers. The key is to use customer segmentation tools to differentiate customers based on their relative value and shopping behaviors. This means, if you can identify the characteristics of these top customers who generate up to 80% of your sales, you can create lookalike audiences that have a better chance of converting to grow your sales and profits. ![]() While marketers try as much as possible to focus on all customers, most of a business's sales come from only 20% of all customers. 20% of your customers will contribute 60–80% of your sales. 10 statistics demonstrating the importance of customer experience 1. Here are some of the essential facts and statistics you need to keep in mind. What do customers prefer? What are the key determinants for customers choosing brands and products? ![]() That's why you need to learn the importance of customer experience statistics in the retail and e-commerce industry. In today’s global, hyper-competitive market, you need to pay attention to the entire market context to help you make the best decisions for your brand. However, you will need to understand your online customer behavior to implement the best strategies to make your business stand out. If you are like most brands and retailers, you are most likely looking for new strategies to increase your sales, boost your web traffic, and grow your email list.
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