Module Four

Customer Retention Marketing Strategies

 

In the previous chapters of our module, we discussed various marketing strategies in detail. But what about the strategies that can be used for customer retention? How do you ensure that the customers already associated with your eCommerce business stay with you? 

Well, it is where customer retention marketing strategies come into play. So, what is customer retention? What are the different strategies for customer retention? In this chapter, we are going to deep dive into this aspect of marketing. 

 

What is Customer Retention?

Customer retention is about keeping your current customers happy so they continue to buy from you. It involves using different strategies such as loyalty programs, retargeting, and more. 

 

Do you know after buying from an online store, the customer has a 27% chance of buying again? So, customer retention marketing strategies are designed in a manner to bring those customers back to your eCommerce store. 

 

Now, think of yourself as a customer for a while. With this perspective, it would become easier for you to understand the strategies that we are going to discuss below:

Loyalty Programs

A loyalty program rewards customers for making repeat purchases. The goal is to make customers feel valued and give them a reason to keep coming back.

 

Let’s say you run an online clothing store. You create a loyalty program where customers earn points for every purchase. For every 100 points, they get a 10% discount on their next order. This encourages them to shop more frequently to earn points.

Retargeting Existing Customers

Retargeting focuses on bringing back customers who have already shown interest in your products but have not made a purchase in a while. You do this by showing them ads or sending emails to remind them of your store and what they liked.

 

Imagine someone added a pair of shoes to their cart on your website but did not check out. You can retarget them with an ad on social media showing the same shoes with a limited-time discount to encourage them to complete the purchase.

 

Thus, as an eCommerce business owner understanding these customer retention marketing strategies will help you grow your eCommerce business.