The average conversion rate of ecommerce sites stands at just under 3 percent. Whether the customer is talking to a real person or a bot, live chat tools have been proven to drive up sales at ecommerce stores. By engaging with people in real time and resolving their issues, you could impress customers enough that 52 percent of them might make another purchase at your store (according to a Campaign Monitor study). Personalize your products. It could prove particularly handy during the holiday season, as shoppers look to add a personal touch to gifts for loved ones. By taking personalization to the next level, you can deliver a more memorable experience for your customers. Product reviews are one such form of user-generated content. As a business, you should engage with customers who leave product reviews, particularly negative ones. For ecommerce stores, wishlists can be invaluable marketing tools. By offering this service, you will be improving your customer retention rate and revenue.
The coming weeks will be full of parties, gifts and friends. But don’t let another ‘gift’ slip through your fingers: a customer who’s here to stay.
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In 2017, retail holiday season sales in the United States totaled over $1 trillion; and Deloitte predicts this year’s total will go even higher. Deloitte also predicted that U.S. ecommerce sales alone would reach $134 billion in 2018. That’s a rise of 22 percent over the previous year.
For Shopify store owners, the peak shopping season represents an opportunity to boost revenues and win over new customers. While gaining new customers is a key component to a successful business, studies have shown that retaining them is a far more effective strategy.
Amy Gallo from the Harvard Business Review pointed out how effective: “Increasing customer retention rates by 5 oercent increases profits by 25 percent to 95 percent” (depending on the industry),” Gallo wrote.
And, according to Khalid Saleh at Invesp, “it costs five times as much to attract a new customer than to keep an existing one.”
All of these figures mean that the peak shopping season is not only the perfect opportunity to win over new customers, but also to build long-term loyalty. As Matthew Draper from Liferay has noted, “The average repeat buyer spends 33 percent more than a new customer.”
So, if retaining customers leads to a higher return on investment, and a potential increase in profits, how should you prepare your business to boost this desired retention?
Acquire your customers — the right way.
When a visitor comes to your site for the first time, it’s essential that you offer him or her a positive impression. The average conversion rate of ecommerce sites stands at just under 3 percent. But, as a Shopify store, you could do better than that by using a tool like GrooveJar to boost your conversion rates.
GrooveJar allows you to create customizable pop-ups, triggered when the customer takes specific actions, like scrolling or hovering over the “back” button.
You might think pop-ups are annoying, but they work. As one Aweber test found, pop-ups in one study led to 1,375 percent more email signups on one site than did a sidebar. If you too employed pop-ups, you would be able to send targeted, personalized content to your subscribers. Remember, email can be one of the most effective forms of marketing, often generating an ROI of $44 for every $1 spent, according to…