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What Is Customer Loyalty?
Multiple studies and our recent ecommerce statistics report have found that it costs five times more to acquire a new customer than to keep an existing one, so there’s a compelling reason to keep loyal customers happy.
The moment a customer buys from your site should be seen as the beginning of a longer relationship with the customer, which can increase customer lifetime value.
A successful customer loyalty strategy mixes great customer service, the intelligent use of data for relevant messages, and simply making it as easy as possible for customers to buy from you again and again.
Identifying loyal customer groups and taking the effort to analyse their data and preferences to deliver a personalised experience is a surefire way to drive repeat purchases. Building metrics via demographics within your database (or segmenting) means for more effective marketing. People are more likely to retain their interest when you segment, and will be more likely to sign-up and return creating that vital consumer relationship.
SaleCycle’s intelligent use of data helps you to provide highly relevant and personalised upselling and cross-selling product recommendations through on-site messages, cart abandonment emails, and SMS remarketing.
Good customer service and retention, can also help to drive sales, as well as making customers feel more valued.
Some products are suited to repeat purchases, such as consumer products like razor blades, so make it even easier with reminders timed for when customers are ready to buy again.
Customer loyalty comes from providing a great all-round experience, underpinned by the intelligent use of data to ensure that the messages customers receive are timely and relevant.
What Is Customer Lifetime Value? – Customer lifetime value (CLTV) is a measure of the worth of an individual customer over the course of their relationship with a company. Broadly speaking, it’s the revenue you make from customers once acquisition and any other costs have been deducted.
Why Is Customer Retention Important? – The importance of customer service is tied to increased customer value and overall revenue because the majority of business revenue comes from repeat customers, with the value of retention being better than new customers. This suggests your customer service tactics and retention strategy should be at the forefront of your marketing plans. This doesn’t mean that acquiring new customers should become a lower priority, as this is something that will depend on the growth stage of a business, but retention should always be kept in mind.
What Is Personalisation? – Instead of thinking about your next email campaign as a bulk send targeted to your whole audience, SaleCycle helps to segment your mailing lists so that each campaign meets the interests and needs of that specific recipient. Building metrics via demographics within your database (or segmenting) means for more effective marketing. People are more likely to retain their interest when you segment, and will be more likely to sign-up and return creating that vital consumer relationship.
The SaleCycle cart abandonment program allows us to send timely and relevant emails across multiple locations and languages ensuring a streamlined experience.
Working with SaleCycle has not only improved our numbers, but it has improved our overall customer experience.
We’d definitely recommend SaleCycle and their remarketing options to any brand looking to increase conversions, and optimize the customer journey.