Online retailer, you no longer have to walk through the valley of death
How would you like to double your sales on the next high season? And what if you could take not just a step but a giant leap ahead of your rivals, even the online giants?
There’s a great fallacy among online retailers and business owners. That fallacy, that misconception, is the reason why most marketing manouvres center around customer acquisition instead of increasing sales among your already existing, loyal customers. This is especially true for high seasons.
What if I told you that you can double your sales by focusing all your marketing efforts on your old clients? Would you believe me, if I told you that we have increased our customers’ repurchase rate by 62 percent? Could you conceive of growth for more than 10 times the current conversion in your email campaigns?
This is not fiction, this is reality. Right now.
Another reality is, that the amount of one-time deals in online stores is over 60% of all your transactions. This reality is known as the death valley of ecommerce. More than 60 percent of people that will never return. Or will they? If you can make a one-time ecommerce buyer to come back and to make another purchase or two, your dropdown percentage will drop down exponentially.
These one-time-shoppers are your old – if not loyal – customers, too.
Increase your customers’ repurchase rate and campaign conversion with these 3 simple actions:
- Don’t undervalue the business possibilities that you already have in your current clientele, especially in the one-time-only-so-far-customers. The data you gather from your online store with your customer data platform like Custobar makes making these identifications easy. Hint: take a look at RFM matrix. It's a tool that allows you to identify your new, VIP, passive and “lost” customers based on when they have been active and how often they have purchased.
- Automatize your marketing messages to the optimum relevance not only in content but in frequency as well. Customer data platforms help you to recognize your customer segments and even their subsegments so that you can formulate your marketing messages to hit the marks (pun not intended). Marketing automation will come in handy in getting the timing right.
- Maximize the use of your clients’ brand loyalty in high seasons. Whenever a high season is approaching, you need to have a solid plan for your marketing execution. You want to multiply your sales from the last high season and get rid of the old season stock. Are there new seasonal products from brands that your customers have previously bought? Even the one-time-so-far-buyers. Furthermore, are there accessories or caretake products associated with these brands that could be marketed right after the high season or a bigger purchase?
There are a great many things more to say about each action. Heck, there are even more actions. If you want to get started right away, you can book a free consultation with our experts.