When it comes to business growth, we’re often in a race to get as many new customers as we can. And it makes sense - the bigger our pool of potential customers, the bigger our projected revenue, right?
You might want to consider another perspective: the best customers are the ones you already have.
Why? Repeat customers tend to shop more, spend more, and refer more people to your business in comparison with new customers. They already know, like, and trust you - it doesn’t take as much effort to convert and convince them that your brand is the one for them.
To put it simply: existing customers contribute much more to your business’s profitability and sustainability over the long haul.
So as we move along throughout 2021, here’s how to turn 2020’s new customers into repeat customers.
#1 Focus on developing strong customer relationships with personalization
Building personal and emotional relationships with your customers is likely the largest contributing factor to customer loyalty. In fact, this begins in the same manner as with any private or business relationship: by making them feel heard, understood, and valued.
When applying this to 2020’s new customers, gather as much information as you can from them and use it to personalize their customer experience in 2021. Look at their geo-location, recent activity, and past purchases. Listen to what they are saying about your products and your brand, both on and off your site. How can you improve your services? How can you make their experience better? What opportunities can you find to build relationships? Don’t just use the data to sell and convert - use it to serve and connect with your customers.
Boost your customer loyalty with a seamless shopping experience
#2 Build engaged communities on multiple channels
In a year where many of us faced social isolation, communities have become more important than ever before. So, engage with your customers, not just on your site, but also on multiple channels where you know your customers hang out. Remember that you don’t always have to sell to them - instead of trying to convert them, be helpful, entertaining, and engaging instead.
You don’t have to dominate every interaction with them either. Encourage your customers to interact with each other and speak about your brand, products, and services. Helping them build a strong and supportive online community helps strengthen brand loyalty as well as satisfies our basic human need for a sense of belonging.
If you’re looking for a concrete example here, consider how Facebook has largely become a platform for special interest groups.
#3 Strive to constantly improve customer service processes
As you engage with your customers, always strive to be a better listener. Designate someone on your team to monitor and act on customer complaints. Be proactive, stay on top of customer service trends, and make customer support as accessible as possible.
Furthermore, use data from customer interactions and social listening to develop content that makes your customers better buyers. Answering common questions through your blog posts and website resources not only frees up your customer support staff, but also helps make your customers feel heard and understood.
#4 Follow up with useful information, but not too often
Your customers want to hear from you - they want to know how your brand is solving their problems, whether that’s through new products and services, or simply sharing helpful content.
However, it’s better not to go overboard and instead reach out when you have something truly worthwhile to say. If you engage just for the sake of engaging or selling, your customers will see through it and will start to tune you out. Find that sweet spot where you’re giving them exactly what they need when they need it.
Go beyond traditional CRO - optimize for customers instead of sales
#5 Measure your success and optimize your strategy
As you strive to improve your customer retention and customer loyalty efforts, make sure that you’re gathering the right data and using that to optimize your strategy. On that note, here are some of the most essential KPIs to track:
- Customer lifetime value (CLV)
- Repeat customer rate
- Purchase frequency
- Average order value
Focus on improving these KPIs not just in 2021, but also making them a permanent and integral part of your marketing strategy.
Remember: if you don’t make your existing customers happy, your competitors will. Customer expectations and trends always change, so your strategy needs to consistently be flexible, engaging, and innovative.
Ready to optimize your shop and boost customer loyalty in 2021?