Of all of the seasons that could be declared a ‘time of plenty’ for e-tailers, the last few months of the calendar year are surely the most obvious candidate. It’s a time when customers are rushing to purchase goods from online stores that they may barely have any contact with at any other time of the year – so all will be well for your own ecommerce site, right?
Well, not necessarily. That’s because even if you do receive a great boost in your customer numbers over the festive period, if those shoppers then disappear for the rest of the year, you might be failing to capitalise on the opportunities the winter months present to keep hold of more of them.
Just look at the statistics
Various studies down the years have, after all, pointed to just modest improvements in customer retention potentially translating into significant increases in profit. One famous study from Bain & Company and Harvard Business School in 2000, for instance, found that upping customer retention by 5% could lead to profits going up by as much as 95%.
So, what steps could you take right now to bolster your own ecommerce store’s chances of keeping more of its festive-season customers coming back in January, February and beyond?
- Actually measure your customer retention. Even if you do a great job of retaining a decent proportion of your festive-season shoppers long after their Christmas trees have been taken down, will you have any idea what things you did actually helped to bring about that increase? That’s why it’s well worth tracking your customer retention rate over time to identify trends – not just over the next few months, but for many more years to come.
- Bring in a loyalty scheme. Even if you’re only just reading this in October, it’s not too late to introduce a loyalty programme that your Christmas shoppers will appreciate. Nor are these schemes just about giving your customers an added incentive to keep spending with you right through the year, as they can also serve as a useful means of capturing customer information and permission for marketing communications.
- Send a personal note and offer. Presumably, if you’re reading this, you’re not a large and impersonal multinational – so why not make a virtue out of the fact that you’re a small business? Including a personal handwritten ‘thank you’ note in the package you send to each new customer will give another positive and heart-warming thing for the shopper to remember you by. That can be especially so if you throw in a discount voucher or the offer of free delivery for any future purchases they make from you.
- Make the most of ecommerce subscriptions. Ecommerce subscriptions – otherwise known as ‘subscription boxes’ – can be great for boosting customer retention anyway, simply because they represent longer-term commitments from the customer than one-off purchases. But their suitability as Christmas gifts arguably further boosts their potential value and importance to your ecommerce store when you’re trying to capture more customers for the long run during the winter season.
It’s the little touches as much as the big ones that could particularly influence your store’s ability to keep hold of more of its customers for the months and years ahead. So, why not talk in more detail to the Piranha Designs team about what those touches could be?
Browse our range of website design and online marketing services today to get a sense of how we could transform your brand’s ecommerce effectiveness well into the 2020s, before calling or emailing us now at our Gibraltar, London or Edinburgh offices.