Customer loyalty comes from providing a great all-round experience, underpinned by the intelligent use of data to ensure that the messages customers receive are timely and relevant.
Multiple studies and our recent ecommerce statistics report have found that it costs five times more to acquire a new customer than to keep an existing one, so there’s a compelling reason to keep loyal customers happy.It is also important to note that turning first time customers into repeat customers, increases customer lifetime value.
A successful customer loyalty strategy mixes great customer service, the intelligent use of data for relevant messages, and simply making it as easy as possible for customers to keep buying from you.
identify loyal customer groups and personalize their experience based on their data and preferences. Segmenting your customer base by demographics within your database allows for more effective marketing.
People are more likely to stay engaged with personalized messages, leading to higher sign-ups, repeat purchases, and stronger customer relationships. This approach fosters loyalty and ultimately increases customer lifetime value.
SaleCycle’s intelligent use of data helps you in providing highly relevant and personalised upselling and cross-selling product recommendations through on-site messages, cart abandonment emails, and SMS remarketing.
Good customer service and retention, can also help to drive sales, as well as making customers feel more valued. Some products are suited to repeat purchases, such as consumer products like razor blades. Therefore, make it easier with reminders timed for when customers are ready to buy again.
Customer lifetime value (CLTV) is a measure of the worth of an individual customer over the course of their relationship with a company. Broadly speaking, it is the revenue you make from customers once acquisition and any other costs have been deducted.
The importance of customer service is tied to increased customer value and overall revenue because the majority of business revenue comes from repeat customers, with the value of retention being better than new customers. This means that your customer service tactics and retention strategy should be at the forefront of your marketing plans. However, this does not mean that acquiring new customers should become a lower priority, as this is something that will depend on the growth stage of a business, but retention should always be kept in mind.
Instead of thinking about your next email campaign as a bulk send targeted to your whole audience, SaleCycle helps to segment your mailing lists so that each campaign meets the interests and needs of that specific recipient. Segmenting your customer base by demographics unlocks more effective marketing. Segmentation keeps your audience engaged, leading to higher sign-ups, repeat purchases, and the development of strong customer relationships.
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