Many businesses lose focus on returning customers while spending large portions of their budgets on new customer acquisition. The Harvard Business Review noted that the cost of acquiring a new customer can be up to 25 times higher than keeping one. A research done by Frederick Reichheld of Bain & Company shows that decreasing customer retention rate by 5% increases profits by 25% – 95%. Those numbers suggest the following thesis – companies should pay extreme attention to returning customers. We present three simple, yet very useful ways to interact with returning customers.
Welcome your Visitors Back
Highlighting that you are happy to see your loyal customers or regular visitors is a great way to personalize your website experience. Combining greetings with targeted content based on what they’ve previously viewed, bought or told about themselves gives you a huge possibility of a positive attitude towards further actions.
Offer Returning Visitors with Incentives
Many e-commerce managers seek to increase the average lifetime value of the online customer. A great way to achieve this goal is to offer returning visitors small discount for another purchase. Incentives are the key to decrease retention.
Personalize the Experience
Do you know what your visitors are most interested in? Have you done a survey to verify that? Have you gathered any valuable information about them? People love to feel exceptional – start addressing their needs. Producing targeted content that is both timely and relevant can make the difference.
There are many ways to engage your returning visitors. The greater knowledge about your website visitors you possess the higher is the chance that you will know how to meet their needs precisely and in real-time. Personalized experience at your website significantly increases not only your sales but also results in better quality leads.