eCommerce stores are an ever-lasting trend; people prefer to shop online these days instead of the old brick-mortar stores. However, just owning an online store is not enough to boost your business.

You need to look for several ways to earn a customer’s loyalty to shop from your online store; it wastes the efforts if you lose the customers for repeat purchases. There’s when customer retention comes in to take your eCommerce business for the long run.

What is Customer Retention?

Customer retention is the ability for a business to engage their old customers to come back to shop again and again. A good customer retention rate shows that you offer tremendous products and services. Do you want to know the customer retention rate of your business? Stay tuned to the blog to know the customer retention rate and ways to improve it.

How to Calculate Customer Retention Rate?

There is a simple formula to calculate customer retention rate; know the retention rate of your eCommerce website now and know how to improve the customer retention rate of your eCommerce business.

Customer Retention Rate

Giving a better vision of Customer Retention Rate with an example:

Suppose you sell food and beverages; say the count of your September month customers is 1000 and newly joined customers is 250 but when you started the count was 800; so let’s calculate the customer retention rate according to that.

1000-250= 750
750/800*100= 93.75%

Isn’t it a great percentage of the business retaining customers? The answer is subjective as it depends on the industry you are serving. So, if you think the number is good or want to improve yours then follow the steps below to improve the customer retention rate of your eCommerce store.

How to improve Customer retention rate of your eCommerce store?

Offer Loyalty Points as Rewards

Loyalty points as rewards

Do you know 83% of people say joining a loyalty program encourages them to make repeat purchases at that business.

When you run a business you have to think of really lucrative ways to hold your customers for the long run. And, loyalty programs are the best way to ask your customers to shop again.

You can offer loyalty points to your customers at several points like:

  • When they sign-up to your store
  • After Making their first purchase
  • After reaching minimum value of order
  • For referring your eCommerce business to friends
  • Availing your pro membership, and even many more…

You can reward their loyalty in many ways like:

  • Offer free/discounted delivery
  • Offer discount based on loyalty point
  • A surprise gift on order based on loyalty points redemption

Loyalty Rewards gives a perfect reason to customers for making repeat purchases. All you need to do is build personalized discount/coupon/voucher, and referral campaigns to increase customer retention, engagement, and stimulate revenue from your existing valuable customers.

Send Personalized eMails

Personalized emails for customer retention

Customers are touched by the personalized gestures of business owners; hence, they tend to choose that business over others. Hence, you need to shoot some smart email marketing strategies to convince your customers to make repeated purchases.

eMails you would need to send to your customers:

  • Upsell Email
  • Birthday Email
  • Special Occasions Email
  • Reminder Email
  • Cart Abandonment Email
  • Follow-Up Email
  • Win-Back Email
  • Thank You Email
  • Feedback Email

What points do you need to keep in mind when sending emails?

  • Create timed-based triggers for customer retention.
  • Choose triggers like abandoned cart, browse abandonment, post-purchase, welcome, and more.
  • Add products dynamically, based on collection and product recommendations.
  • Re-target customers who have recently viewed products
  • Send customized discount codes to your customers based on their shopping behaviors.

A right choice of email marketing strategy helps you send the right eMail to the right audience at the right time; which is eventually helpful for customer retention.

Personalized Web Push Notification

push notification for customer retention

As already mentioned above, customers are pleased with the personalized gesture; so you can send push notifications to them based on their activity on your website.

Push notifications are short, clickable pop up notifications that you can send to a subscriber to promote offers and other content. This is how you can use push notifications to retain your customers using automated campaigns.

Do away with your worries and maximize customer retention of your eCommerce store with web push notification.

What kind of notifications should you send for customer retention?

  • Price Drop Notifications
  • Back-in-stock notifications
  • Time-triggered notifications
  • Personalized Web Push Notifications

What points do you need to keep in mind when sending notifications?

  • Stay Relevant With Dynamic Segmentation
  • Write Crisp and precise content

Accomplish Your Customer Retention Strategies with AiTrillion

AiTrillion is a super app which offers several marketing automation solutions for your shopify store at one place. You just need to install one app and you get 11+ modules along with it. AiTrillion not just saves your money but also helps you maintain your store speed because when you install 11+ different apps for each feature then it reduces your store speed.

Conclusion

There are many other ways to retain your customers and convince them to shop again from your eCommerce store. In this blog we have shortlisted top 3 simple yet powerful customer retention strategies for your eCommerce store.

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