Let’s begin with facts, acquiring a new customer is always harder and much more expensive than retaining it. Including time costs.
What to consider before starting an e-commerce store?
If you’re new on e-commerce business and you’re asking your friends and acquintances; what to do and you’re reading blogs and books to gain some customer insight. Remember this, nothing happens too quickly so, let’s begin planning your business.
Let’s consider the scenario where you have an online store and you’ll sell things. It doesn’t matter what you’re going to sell.
Domain and store names are important. These should be relevant to your potential audience. Select colors according to your targeted demographics; such as age, gender, etc. Colors trigger emotions and certain behaviors. Don’t forget images are pretty important, it affects potential customers’ buying decision.
Those were the basics. Probably, like most people, you won’t design a whole brand new online store. There are a lot of options like Shopify.
You started to make some sales and you realized it is hard to gain trust. So there are a few things to do. One basic thing is using social proof; letting others see what people think about your products. Create hashtags on social media. Curate them, share them on your website, publish positive and negative feedbacks on your website. Reviews are opportunity to create e-wom(electronic word of mouth). You cannot control the e-wom but, it will probably benefit your sales. Those are to gain new customers, as you see you need to a lot of time consuming things to do. I don’t mean that you shouldn’t do it though. If you cannot make them buy from you again, your customer acquisition costs grew higher.
Why should they come back to your store ?
An average person makes multiple purchases from different stores all the time. In UK an average buyer spends £1296 for online purchases. Why do they need to repeat purchases from your store? There are thousands of stores your potential customers can buy from. Sure their shopping experience, satisfaction from past purchases effects their repeat purchasing beahaviour the most. Don’t forget humans are creatures of habit. However there are a lot you can do to initiate repeat purchases. Send them personalized promotion e-mails. Create sense of urgency, let them act fast, without any stress and panic. Never forget your marketing costs are much lower for repeat purchases.
Abandoned carts, abandoned carts…
Here’s a tactic, which is generic but works. Amazon built it’s empire on this. ABANDONED CARTS!Reach them back! Send them promo codes. Make some suggestions, ask them to spend more time on your site. They’ll eventually find something suitable for themselves.
So, how is it less time consuming and cost effective?
Some might say, hey! This guy was speaking lots of e-mail, personalized stuff. I thought retaining customers were cost effective.
Of course it is. Integrate marketing automation to your store. Set up the system and check up the data occasionally. There are considerable amount of automation systems but since you’re here, try LeftBrain’s Shopify app. Reach our customer service they’ll walk you through everything you’ll need to know.