It’s cheaper to retain a customer than to acquire a new one. As studies have shown, the challenge of today’s companies is decreasing the cost of acquisition per client and retain more customers.
Consumers change their preferences in a very unpredictable way, and companies have to remain committed to making them loyal. Otherwise, they’ll fall into the trap of spending money on the acquisition and see customers leave to competitors.
Why do you need repeated purchases
A retailer’s best customers are worth 30 times more than its average ones in revenue, according to an RJMetrics benchmark. It is also easier to market your products to the existing customers than to completely strangers. If you’re considering the funnel’s stages, you’ll see that the new customers have to pass all of the four stages (awareness, interest, desire and action) to make the purchase.
Methods to encourage repeated purchases
- display remarketing
- abandoned carts recovery system
- targeted lifecycle emails
- loyalty programs
- creative attempts like sending a personal message to the customers by mail
How to determine who are your top customers
To know who are the people behind the numbers in your analytics reports, you need to look at your customer database. All data collected in your CRM is useful for the attempt to create a loyalty program.
- The first step is determining the 15% of your customers who generate over 50% of the total revenue.
- Secondly, you have to give a unique id to each customer using Google Tag Manager data layers.
How to track what your top customers do on your website
Using their unique id, you can push data to Omniconvert to start optimizing the site only for them. Our tool is using the data both in segmentation and targeting and in the personalization experiments conducted with Omniconvert. (name, location, etc.) You’ll be able to find out more about them using surveys or persuade them using the other two cool features – Personalization and A/B testing.
The aim of finding out more about your best customers and offering them a VIP treatment is transforming them into your brand ambassadors. Did you know that Cosmetics & Beauty Companies consider the airport the 6th continent? It’s the place that captures the most influential people in the world for 20 minutes…at least. If the companies manage to reach them, they’ll recommend the experience to other people across the world.
4 Ways to treat your best customers like VIPs using Omniconvert
1. Create surveys to get more info about them: habits, hobbies, etc.
Creating a Omniconvert survey takes 5-15 minutes, and you don’t need technical skills to target it to the right customers. Use any of our 35 segmentation criteria to ask your best customers anything you need to achieve your goals.
Image from ‘The Power of Habit: Why We Do What We Do in Life and Business’, by Charles Duhigg
2. Personalize their experience
The personalization feature allows you to display creative messages and offers across their journey based on behavior. Use the insights from surveys, create pop-ups and test their impact on your most important key performance indicators. Yes, you can do A/B testing on pop-ups, too!
3. Find out what’s their favorite star
Create a simple survey to find out what’s the star they like the most. It can be a singer, football player, writer, etc. depending on what you sell. This method is old, and it’s based on Cialdini’s principle of persuasion, authority. It claims that experts or popular people influence others much easier.
Once you figured the top favorite “stars” preferred by your customers, try to reach out to them with an offer.
4. Transform Passives into Promoters
With the NPS survey, you can determine the proportion of your website’s detractors – passives – promoters. You may find out that there are people from your top 15% best customers who don’t want to recommend your brand to others. There’s a high potential here to transform them into your brand ambassadors. The NPS survey is like any regular survey, and we have a nice report for you at the end. Here’s a snapshot:
Focus on customers that will have repeated purchases. Use Omniconvert as a tool to track what they do, how they react to your marketing efforts, but also use your human touch to offer the best experience possible.