How can cross-border sellers improve customer retention


How to improve customer retention rate?

Or are you more focused on acquiring new leads?

Retaining old customers has a high ROI for your business and can help your business maintain sustainable growth over a long period of time.

For those in the early stages of a business, retaining old customers can increase revenue faster. frieght charges

When a business improves customer retention by 5%, it can lead to a 25% to 95% increase in sales profits.

Customer retention strategies can also lead to stronger relationships between businesses and consumers.

 Customers become loyal fans of your brand and turn to recommending their friends and family to buy from you too.

In short, retaining old customers should be one of your main marketing strategies when looking to increase sales.

 Here we'll detail everything you need to know about customer retention and the best ways to get started right away.

The consumer base develops and grows over time.

The company can calculate the average consumption lifetime value of each customer, which we also call Customer Life Time Value - how much profit the company can make from a single customer during the customer's life cycle can be calculated. frieght charges

To maximize the lifetime value of customers, companies need to reward customers and have a plan to build that relationship.

Acquiring customers may seem like a more cost-effective way to grow your business, but in reality, acquiring a new customer is 7 times more expensive than retaining an existing one—and retaining an existing one can be a quicker Process.

Also, when customers frequent your business and are loyal to your brand, they will not only explore more of your products, but also make more profits for your business.

You can think about which brands are you most loyal to and how much business do you provide to these businesses?

Best Practices for Customer Retention

1. Brand Loyalty Rewards

Retaining old customers builds brand loyalty, so why not reward those customers who already shop with you?

Not only does this act as an extra motivator, but it can bring the relationship closer by making the consumer feel that you are grateful.

84% of consumers say they are more likely to choose brands that reward them with loyalty. frieght charges

So how do you do this with your sales funnel model?

You can direct repeat customers to a sales funnel you built specifically for people who are loyal to your brand.

These sales channels can offer additional offers and special offers to loyal customers.

Customers entering these channels are informed exactly why they are getting these offers. This makes them feel like they are part of an exclusive group and can have more loyalty.

Please don't ignore loyal customers. Show them that you really appreciate their patronage of your business.

2. Build good customer relationship through communication

When customers feel that the company knows them well, they usually respond positively.

In addition to adding customer names to emails and Facebook ads, analyze your existing customer shopping data to send personalized content, such as product recommendations based on their last purchase.

Or send offers on their birthdays, anniversaries, and more.

With this level of personalization, it can motivate previous customers to come back and buy again.

3. Offer a one-time upsell

Essentially, when you offer an upsell, you're convincing customers to buy extra for more profit.

Upselling can be as simple as offering additional products to try or giving them the opportunity to upgrade the product.

Upsells are a win-win strategy because they help customers close deals with your products.

3. Use relevant email marketing campaigns Email Marketing

This is a quick way to help re-engage and reward existing customers.

With automated marketing, you can create different campaigns that offer promotional surprises, new product information, company updates, and more.

The purpose of these events is to thank customers for their previous patronage and to encourage them to try new or different products.

But instead of constantly bombarding customer mailboxes with ads, create specific ads for customers who have recently been inactive with promo codes or free items.

4. Provide product display and information guidance to customers through webinar (similar to domestic live broadcasts)

In addition to email marketing campaigns, another great way to retain customers is to provide them with instructive product information through Webinar. Allows companies to interact with customers and have real-time conversations.

This helps the company better meet customer demand for the product.

Through research, identify the topics your audience watches and engage with the most, and create copywriting content that is worth their time. Merchants can also build brand credibility by demonstrating expertise.

5. Don’t be afraid to drop sales

Sometimes a customer might give up on a product that a follow-up merchant recommends and upsells -- but you can still re-engage them so you don't lose that potential customer forever.

A markdown sale is to offer a different product at a cheaper price, and customers have a higher probability of buying it. frieght charges

Another markdown selling tactic involves offering the same product they initially rejected at a slightly lower price along with additional incentives such as free shipping or a discount on your next purchase.

You can test both strategies to see which has a higher sales conversion rate.

7. Extend customer service to social media channels

Maybe you already have a structured customer service plan in place, but probably the majority of your customer base is on various social media channels.

Then use the company's social media channels to offer a more proactive approach to customer service.

For example, Twitter replies can help openly address a customer's problem.

In this way, other customers can also benefit from it at the same time.

At the end of the day, it's all about building a relationship of trust with the customer.

Having a variety of customer service channels leads to better engagement and customer retention.

8. Ask for feedback

Like any company, businesses need customer feedback to not only understand their customer base, but also to improve their products and services.

Create channels to ask customer feedback after purchase to understand what is good in the overall shopping experience and what can be improved.

If customers opt out of your emails, be sure to ask them why they opted out.

Make sure you have powerful tools to collect and analyze your customer data so you can identify areas for improvement and fix them in a timely manner.

At the same time, when soliciting feedback from customers, make them feel valued and let them know that the company will do something about the feedback. frieght charges

When you look at your customer retention program, take a look at what you can start doing in your current sales funnel to create more brand-loyal customers.

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