Customer
retention is the key to survive as an online retailer. But what is most
challenging is how to retain the customers?
Firstly to answer this question we need to understand why customer retention is so significant.
Loyal
customers help boost your value and standing in the market as they are
comparable to equities. You definitely cannot be successful if your customer
does not come back to you to shop again.
Basis a recent survey in India, in 2014 approximately 35 million people
shopped online in the country, and by 2016 the number is likely to rise to 100
million. Although there is a constant increase in the graph but so is the
competition increasing. Hence the way out for survival becomes retaining your customers.
Everyone
selling online is aware of this and even trying their level best to increase
and retain the customers. They are going all out offering discounts, referral
points, bonuses and loyalty points. So this is called for if you want to
establish yourself as an online seller and to survive the competition.
Here
are 5 simple ways of retaining your customers:
Define Your Target
Demographic
Begin
with defining your target market. Do not try to sell everyone rather keep a
focused approach. Plan basis the product offering, logistics and
marketing outreach as to who you are going to cater to. This will help you be focused and you can
expand gradually in a systematic way.
Customer
Service needs to be very smooth
Customer service is also very important to gain the
loyalty of the customers. You need to be able to win the confidence of the
customers and make your processes as flawless as possible and be available whenever
the customer needs help. You should be able to resolve all conflicts tactfully
in a polite manner. Timely and prompt response at your end will itself make
things easier.
Satisfying shopping experience
The customer should have a feel good factor
once they shop with you. You should make their shopping experience special.
Depending on the sector you are working in, you could try different ways for
example you can offer special packaging and freebie gifts during festive
seasons etc.
Online Marketing
and social media presence is a must
Make the customer
shopping the second time feel special
Being present on different social media
platforms is very helpful. Also sharing your industry knowledge will help in portraying
you as experts of the industry you are catering to.
When a customer shops the second time let them
know it means a lot to you. Be creative. One way is to show that the system recognizes them and is already there to welcome them. Interesting loyalty
programs and rewards can be offered too, furthermore you can offer deals to
social media followers for a discount for the third time shoppers.
So
here is our insight on customer retention. To know more feel free to get in
touch with VintFlea!
We would love to help you with your queries.
About VintFlea
VintFlea our online marketplace for “Vintage” and “Vintage
Inspired” products was created 2 years ago with a vision to ‘bring the global
consumer closer to Indian products’.
Today VintFlea boasts of one of the largest curated
collections of DIY, Vintage, Vintage Inspired and Up-Cycled products spanning
across Craft Supplies, Clothing, Home decor, Shoes, Bags & Accessories.
At ‘VintFlea’ we curate and sell India’s most beautiful
products at the most competitive prices through our kitty of in-house brands
namely Trove, Revamp, The shoe Trunk, Trinkets and The Hue cottage.
Our
astute understanding of international business ethics, local expertise, market
know-how and ruthless focus on unique products, high
quality craftsmanship and breathtakingly beautiful local designs has enabled us
to carve a niche for ourselves across the global market. And we endeavor to
continue taking bold steps towards constantly increasing our value offerings
while broadening business horizons.
