Customer Retention Techniques to Build Customer Loyalty - PowerPoint PPT Presentation

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Customer Retention Techniques to Build Customer Loyalty

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eCommerce business is for the customers and the success can be measurable through the customer satisfaction and retention. So, customer loyalty is must. For retaining your customers, you should have an exceptional user experience, connection & communication with your customers and education. So, Follow the strategy and improve your conversion and sales. – PowerPoint PPT presentation

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Title: Customer Retention Techniques to Build Customer Loyalty


1
4 Techniques to Succeed in Retaining your
Customers
2
What is Customer Retention?
  • Before we go through the strategies for retaining
    customers, let us first understand what actually
    is a customer retention?
  • Customer Retention is the rate with which we
    measure how an eCommerce company is taking care
    of its customers over a duration. After all the
    business is for the customers and the success can
    be measurable through the customer satisfaction
    and retention.

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Customer Retention Rate
  • If you have a low retention rate, then you must
    what is going wrong with your process.
  • On the other hand, if you have a high retention
    rate, you should make a strategy to maintain that
    rate.

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How to Retain the Customers?
  • It is difficult to retain the customer if any of
    you is not paying attention to another.
  • For retaining your customers, you should have an
    exceptional user experience, connection
    communication with your customers and education.

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Techniques to Retain Customers
  • Here, we have included 4 techniques which will
    help you in retaining your customers.
  • Find Out and Focus On Your Target Audience
  • Seek and Act on Customer Feedbacks
  • Boundless Improvement of User Experience
  • Apt Message after Sale

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Find Out Focus on Target Audience
  • The first step which needs to be focused before
    actually planning the customers retention is
    that an eCommerce business needs to find out and
    focus on their target customers as well as
    existing loyal customers. When you create the
    plan for customers retention keeping in the mind
    your target audience, it gives more profit or ROI
    than focusing on your new or average customers.

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Focus on Target Audience (Cont..)
  • To identify your target customers, you can check
    the metrics such as Purchase frequency, Customer
    Lifetime value, Price sensitivity, Average order
    value etc.
  • To increase the retention rate and conversion
    rate, you also need to find out the annual rate
    of people leaving your site or subscriptions or
    memberships.
  • If you want to customize the retention process
    then you have to track the purchase behavior of
    your customers.

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What to Do?
  • To enhance the conversion rate of your brand, you
    can use the Net Promoter Score method. This will
    let you know about people who like your products
    and services (promoters), people who dont like
    your products and services (detractors) and
    people have neutral experience or perspective
    (Passive) about you.
  • This will help you find out the group of people
    on whom you could focus more for retaining them
    on your website.

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Seek and Act on Customer Feedbacks
  • The companies who take the customer feedbacks and
    reviews seriously, become successful as compared
    to the customers who dont take that into
    account. A customer review not only help to get
    your company credibility but it also helps to
    increase the conversion rate and build trust.

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Seek and Act on Customer Feedbacks (Cont..)
  • This happens because any new customer will first
    check the review before they purchase your
    product. They will believe in the review or
    feedback from others.
  • Taking down the surveys or feedbacks from your
    customers after they have made a purchase gives
    an opportunity to see the pain points in real
    time and help you to see the areas of
    improvements.

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Seek and Act on Customer Feedbacks (Cont..)
  • You can ask for an on-page-survey depending on
    the following factors
  • Duration on the website
  • At the step of adding the items into their
    carts
  • Number of webpages browsed
  • These feedbacks can help you to know the points
    using which you can retain your customers.

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What to Do?
  • Take down all the feedbacks seriously whether it
    is a positive or a negative one. If you have
    received a negative review, then take that into
    consideration and correct your mistakes.
  • This will increase the chances of building more
    customer faith in you.

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Boundless improvement of user experience
  • For creating and improving the customer
    experience, it takes the data for feedbacks and
    users site activity or purchase behavior. But
    for this, you need to have not the best
    technology but also upgrading systems.
  • When you determine the satisfaction level of the
    customers once they have made a purchase from
    you, it also reveals how they interacted with
    your site, happiness they got, experience they
    had and loyalty they have towards your website.

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Boundless improvement of user experience (Cont..)
  • If you want to provide the exceptional shopping
    experience to your customers, then you have to
    make sure that you prepare and follow a
    personalized approach. It not only gives them a
    personal touch but also connect with them
    emotionally. And this will give you long term
    loyal customers and increasing sales rate.

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Boundless improvement of user experience (Cont..)
  • To make a personalized touch, you can find out
    about the emotional motivators and execute your
    motivation plan.
  • Let us consider Ease and Convenience as the
    emotional motivator for your targeted customers.
    You should use such messages or designs which
    offer ease and convenience to your customers
    while they are shopping from your website.

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Boundless improvement of user experience (Cont..)
  • For Example
  • Nettleton Shoes, have a special section on their
    website which offers a chance to try their 1-2
    pairs of shoes at their home before they actually
    take the decision of buying those.

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What to Do?
  • You must concentrate on providing a personalized
    and emotional touch to your customers. The
    emotionally connectivity between the business and
    customers ultimately establishes the trust factor
    and improves the sales.

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Apt Message after Sale
  • Before you send the emails or message after a
    sale, you should know about the purchase history
    of that particular customer. Dont send a post
    sale message just after a week of a purchase. It
    will not look relevant or it will be too early
    for those messages.
  • You can send an email or message regarding cross
    selling products as per the customers purchase
    history or behavior.

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Apt Message after Sale (Cont..)
  • For Example
  • Amazon has sent a post-sale email to its customer
    which also included cross selling products.

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What to Do?
  • In order to retain your customers through post
    sale messages is to send them cross selling
    products, new items in the same category or
    reminder of consumable products.
  • This will help you keep the track of their
    purchase and also connect with them.

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Conclusion
  • You may have some shortcuts to succeed in
    retaining your customers. But those shortcuts
    will not last long. You need to seek the data
    and take it seriously for creating the customer
    retention strategy. Dont forget that if you are
    successful in retaining your customers, then
    those customers will bring value, sales and
    success to your business.
  • However, understand and learn from the points
    discussed in this presentation and retain your
    customers.

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Do you want more sales, more profit?
  • For an eCommerce business, it is very crucial to
    gain credibility and popularity. And you can
    achieve that through your loyal customers.
  • So, what do you do to retain your old/targeted
    customers?
  • visit https//www.mconnectmedia.com/ecommerce-c
    onsulting/. You can also share your suggestions
    or points and ask the questions via comments
    also. We would be happy to talk to you!

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Contact Us
  • M-Connect Media
  • Website https//www.mconnectmedia.com/
  • E-mail   info_at_mconnectmedia.com
  • Phone 1 (319) 804-8627 
  • Touch with us
  • https//twitter.com/mconnectmedia
  • https//www.facebook.com/mconnectmedia/
  • https//plus.google.com/u/0/Mconnectmedia
  • https//www.pinterest.com/mconnect/
  • https//www.linkedin.com/company/m-connect-media

26
Thank You!
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