When you are a Shopify eCommerce entrepreneur, it is important to understand how important first impressions are. It takes just a little time for the customers to decide if they want to shop from your store or not.
Therefore, it becomes important for you to implement retention strategies and hold onto your existing customers while keeping the store engaging enough for the new ones. And you can do that by seeking Shopify app development and integrating some add-on functionalities to your store. You shall learn more about it later in this article!
But, it is obvious that attracting fresh customers is expensive when compared to retaining the existing ones. To give you a perspective, there is only a 5 to 20% chance for you to be able to sell something to your new customers, whereas selling to the existing ones is around 60 to 70%.
So, to help you ace your Shopify customer retention game, this article brings you some noteworthy strategies. Read along till the end to find out!
What is the Importance of Customer Retention in the eCommerce Domain?
If you are new to the Shopify eCommerce world, you need to understand what customer retention actually is. Therefore, before stepping into the strategies, let’s get you a brief understanding of its definition and purpose.
As you know, the competition in the eCommerce domain is quite high, and considering Shopify as a platform, you will find hundreds of stores, if not thousands, selling one or more products similar to what you offer. So, you can predict the level of competitiveness in the domain.
Due to the extensive availability of choices for new customers, it becomes challenging (not impossible) to draw them to your store. Therefore, it is considered crucial to implement strategies for holding onto the existing customers and convincing them to make repeat purchases, which will keep the flow of profitability intact.
Here are some of the things that express the proficiency of customer retention for your Shopify store:
Customers Contribute Immensely to Your Business Profits
When you implement dedicated strategies, such as using product reviews Shopify app to offer discounts to existing customers upon leaving their feedback, you will earn their loyalty. Alongside this, there are a lot of ways you can make customers stick to your brand with utmost loyalty, ensuring they will come back for a purchase. This way, your profitability quotient will continue to increase.
Executing Customer Retention Strategies is Cost-Effective
Customer retention strategies are easy to implement and don’t demand much of an investment from your end. This way, you will be able to promote more sales at lower expenses compared to acquiring a new customer.
Improves Brand Awareness and Advocacy
All the customers who have acquired good experience with your brand will be making repeat purchases when you put in the right efforts. And they won’t be coming back all alone but will also be bringing in more people with them. Positive word-of-mouth works best in favor of your business, and customer retention strategies can help you achieve that.
What are Some Strategies You Can Follow to Retain Customers for Your Shopify Store?
So far in the article, you are now aware of how important it is to retain customers. There are various Shopify apps available over the official store, using which you can curate dedicated retention strategies to work in your favor. For giving you a kick start, here are a few of the strategies that you can consider to implement:
Make Use of Customer Accounts
You can seek help from Shopify app development experts and integrate customer accounts into your store, which is the most crucial retention strategy. With such an app, you will get the feature to personalize your brand offerings and give your buyers quick access to their orders, payment details, and shipping information.
However, customers might not always be keen on registering their account with your store and prefer placing an order and heading out. Therefore, you can integrate add-on applications or implement some strategies to encourage them to do that.
For instance, you can use a form builder app to create a registration form that will pop up right after the customers have successfully placed the first order. If not, you can also consider sending out email notifications to all your first-time buyers, suggesting they register their accounts in exchange for certain discount coupons.
Launch a Loyalty Program
Building a loyalty program is the best way to promote your Shopify store and bring back existing customers for repeat purchases. The loyalty programs are meant to reward the customers for being dedicated to your brand over others. With the presence of such programs, customers find it more encouraging to shop with you again.
Positive word-of-mouth will be spread, and more people will be referred to join your store. You can use discount or gamification apps for your Shopify store and introduce exclusive gifts, points, and discounts, which can be redeemed for various perks.
Apart from the customers, your business also benefits a lot from the loyalty program, as the retention rate will be higher, and the customer lifetime value will also be extended. If you want to get started with a loyalty program, use an event calendar app Shopify offers and let your customers know about it enticingly.
Leverage Email Marketing Tactics for Customer Retention
Email marketing is one of the most powerful tools that can help you boost your Shopify customer retention. Using it with the right intention and tactics, you will be able to communicate with the clients regularly, keeping your brand in the spotlight. Implementing personalization to your email marketing strategies is what will help you succeed here.
For that, you must acquire customer data based on their preferences or behavior. As an instance, you can consider integrating a wishlist app Shopify offers and the preferred products that they like but want to buy later. This way, you will know what products interest them and plan your personalized recommendations or exclusive offers to make them part of your email marketing efforts for retaining customers.
This clearly depicts how important customer retention is for your Shopify store, along with three evident strategies to do it correctly. If you have plans to succeed in retaining customers and encouraging them to make repeat purchases, talk to your Shopify app development experts right away.
They will suggest apps from the official store or get you new ones developed by tailoring them to your specific needs.