Yes, it might work, but that’s not loyalty, that’s a loop and as soon as you remove the stimulus (discount), it breaks. The really cool idea they haven’t seen anywhere else? You’ll know after many tests and feedback requests, social media conversations, and sentiment monitoring.
Loyalty means customers prefer your brand over the others in that category. So to start a retention program capitalizing on that loyalty, you need to find out what they love about your brand so much. If there’s anything that keeps getting mentioned every time in connection to your brand, that’s it, my friends, embrace it and make it work for you.
Going back to proven churners, examine their behavior and interaction with your store (however brief).
Existing customers and the treatment they get should be a priority over flooding the Internet with discount coupons for new customers.
You cannot create loyalty with transaction-based incentives: “come back for off”. Your super authentic tone of voice, so close to your audience’s heart?
The probability of selling to an existing customer is 60 – 70%. In the same line of thinking, if you seek loyalty from your customers, you should stimulate it.
Nobody likes being neglected because you found a new date.
So, after they receive their first order, find out whether they seem more likely to return or to churn. Clearly, the ones who don’t intend to be coming back haven’t been satisfied with their first experience with your shop. Find out what drove them away and – if possible – make it right.
Their order arrived after the birthday of the kid – send them another toy.
Amazing customer experience is the single most powerful thing you can do if you want to build a successful online store.
Developing a customer retention program based on outstanding customer experience will channel your resources to delighting your existing customers, rather than slipping into an acquisition nightmare.
All materials presented are compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed.
This article is distributed for educational puposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, product, or service.
Now, moving to the chunk where your chances for retention are bigger.