Why is that? Because recurring revenue from loyal customers can increase an e-commerce company's average total sales by up to % . In addition, a regular revenue stream from repeat purchases enables e-commerce companies to plan their growth and resource allocation in a more effective manner . Think about it when was the last time you made an effort to re-engage your old customers, or tried to build brand loyalty? Can't remember? If that's you, it might be time to implement the tactics below to accelerate your ecommerce customer retention strategy and grow your revenue along the way.
But first, let's understand what customer retention actually means. How to sell online ? Tips from ecommerce experts for small business owners and aspiring entrepreneurs. Subscribe Please enter a valid email address I agree to receive the Ecwid newsletter. I can unsubscribe at any time. What is mobile number list Customer Retention? Customer retention indicates how many customers have remained loyal to your company over a period of time. It is impossible to compare the CRR of a beauty brand with that of a gaming brand. The products are different, so the rate at which customers buy back from your store will vary drastically.
Not to mention expensive POSTED ONAUGUST , BY SELF-RANKING Aug Reading time minutes Source For a hyper-competitive industry like e-commerce, where the costs of clicks and conversions are always rising, attracting new customers becomes increasingly difficult. Not to mention expensive. In addition, the COVID- crisis has changed consumer behavior forever, creating new challenges and making retaining old customers not just a matter of choice, but a necessity. As Gartner puts it, “the COVID- crisis has shifted marketers' focus from customer acquisition to customer retention and growth.