Since the number of e-commerce sites has increased, the demand for PPC keeps rising. It’s already evident, these prices will keep going up. Acquiring a new customer is seven times more expensive than it is to retain an existing one. The trend is just going up as more and more e-commerce sites are emerging.
If you are looking to retain growth and keep your #DigitalMarketing cost stable as well as retain your existing clients in this era of rapid growth then there are a number of tools to help you do that. Your best bet is using a loyalty program as a hub for your retention #MarketingStrategies.
Loyalty as a Retention Hub:
A lot of people who shop online are reluctant to take any additional actions toward spreading awareness of your website because the value to them is unclear. In order to encourage them to do so, you can offer rewards or points. If your rewards are of great monetary value to them they will be inclined towards taking action to share your e-store on social media or refer it to a friend.
Repeat customers are always beneficial to your online business and a loyalty program can help you bring them back by tying all your #Marketing efforts back into your retention #MarketingStrategy.
Avoid Devaluing Your Products
One of the major drawbacks of an e-commerce business is discounting to a point where your customers will be addicted to buying your products at a low price and will never pay a full price for the products you offer. You will not be able to increase the cost of your products or even worse, sell it at its existing value. This will not only impact the value of your product but will have a negative effect on your brand if you consider yourself a luxury brand.
Some brands think that giving out discounts will help increase the sales but in actuality, it will affect the value and quality of your product as your consumers will get used to purchasing products at a lower price.
Using a loyalty program allows you to earn points rather than offering discounts. Points are not like the usual discounts companies give off instead they will encourage your consumers to buy products at their regular prices.
The more tools your company uses the higher the chances that your communication will have a distorted look and feel. Emails sent via retention tool might not look unique. Using a loyalty program can solve the issue of distorted look.
When you are using the same tool for retaining your customers then your customers will have a better experience in terms of engagement and brand identity.
A loyalty program can help you save time by keeping everything in one place. You will not have to look up your customer rate, the number of purchases, and revenue in various places. It will keep everything in one place making things more accessible and better organized. Using a retention hub for your marketing efforts can help you check whether your efforts are helping you make some big bucks or if it’s time to make some changes.
Centralize Retention with a Loyalty Program
Retention marketing should be a long term goal in your marketing strategy. Invest in the right kind of tools and take things in the right direction by following your strategy the way it should be. A loyalty program can create a central hub for retaining your customers and will help you reap fruitful, ongoing results.
To Your Best Online!
Ingrid Gee, Internet Marketing Consultant. Blue Dress® Marketing, an Internet Marketing Company headquartered in Knoxville, TN. Internet Marketing Developed, Implemented and Managed to Full Circle! Organic Internet Search Engine Guru. Turn Key Internet Optimization Programs Placing You Everywhere and Anywhere You Need to Be Online®
A Loyalty Program Becomes a Retention Hub