If you’re an ecommerce store owner, you know that it takes a lot of work to find and grow your customer base. You might have worked hard to attract new customers and get them to buy from your site. But once they have made a purchase, what’s next? The answer is simple: keep them happy! That way they’ll keep coming back for more.
- Attracting new customers isn’t cheap
- Increase the lifetime value of your customers by boosting retention rates
- Keeping existing customers happy and engaged is key to growing revenue in your ecommerce business
- Existing customers are more likely to buy from you than new ones, resulting in higher conversion rates and more revenue
- Encourage repeat business with a loyalty program that rewards customers for sharing, referring and engaging with your brand
- There are many ways to boost the effectiveness of a loyalty program, from offering different types of reward points to personalizing what you offer based on customer profiles
- Loyalty programs can help you reward your best customers and expand your reach, growing revenue for your store in the process.
Attracting new customers isn’t cheap
If you’re looking to grow your business, attracting new customers isn’t cheap. The average cost to acquire a new customer is six to seven times the cost to retain an existing one.
This is why it’s important that businesses focus on retaining their existing customers instead of constantly chasing new ones. When an ecommerce store has a solid base of loyal customers, its growth potential increases exponentially because it can leverage the power of word-of-mouth referrals and social media marketing campaigns at no extra cost.
A loyalty program helps keep customers coming back by offering them rewards or incentives based on their purchase activity and/or spending history with your company. You could offer discounts, free shipping after goals are met (ex: spend QAR 50 or more), special products they can only get if they’re members (ex: gaming gift cards), etc., but what really makes these programs successful is when there’s something different about each one! Make sure yours stands out from competitors’ offerings by offering something truly unique that will incentivize repeat purchases over time because remember—the longer someone stays engaged with your brand the better.
Increase the lifetime value of your customers by boosting retention rates
A loyalty program can help you increase the lifetime value of your customers by boosting retention rates. The retention rate is the amount of customers you keep over a period of time, or how often they return to your store compared to the total number of customers you have at any given time. Loyalty programs make it easier for your current customers to shop with you again and also tell their friends about your store, which can in turn help you attract new customers.
Here are some ways that an ecommerce loyalty program can help boost customer retention:
Discounts & rewards: Customers love being rewarded for spending money in-store or online! You can offer exclusive discounts on products they purchase frequently so they feel like they’re getting more value out of their purchases than what they paid for them (and maybe even sneak in some freebies when appropriate). Or give out points after every dollar spent on items purchased through one particular site that can be redeemed towards future purchases in exchange for something else (like free shipping) rather than cash back deals – this way shoppers don’t spend too much money on stuff just because there’s no reward attached yet still get something good outta it later down the road when it suits their needs best!
Keeping existing customers happy and engaged is key to growing revenue in your ecommerce business
Customers who are loyal to your brand are more likely to buy from you, refer friends and family, share your content on social media, and buy from you again.
When people stay connected to the brands they love, they’re more likely to continue purchasing products or services from that company. Loyalty programs help build this connection by rewarding customers with exclusive benefits in exchange for their continued support. In other words: if someone likes a product enough that they want it as part of their regular routine (like coffee in the morning or pizza at lunch), then offering them some sort of loyalty program could be a great way for companies like yours to keep existing customers happy while also increasing sales revenue in ecommerce stores online—and ultimately benefiting both parties involved without anyone having any reason not do so!
Existing customers are more likely to buy from you than new ones, resulting in higher conversion rates and more revenue
Having a loyalty program is like getting paid to do your job. With one, you can increase customer retention, improve your marketing strategy and increase revenue.
If you’ve ever worked in retail or hospitality, you know that building relationships with customers is essential if you want them to return and buy more from you in the future. A loyalty program makes it easier for businesses to develop these relationships because they provide a way for businesses to reward their most loyal customers with discounts or free products.
These types of programs have been used by many companies for years now; however, ecommerce platforms are now able to use them too! This means that if you run an online store then there’s probably no reason why this shouldn’t be something on your radar right now (if it isn’t already).
Encourage repeat business with a loyalty program that rewards customers for sharing, referring and engaging with your brand
Loyalty programs are a great way to reward your customers and encourage repeat business. Customers love loyalty programs because they can earn points or cash back just for shopping with you, then use their rewards to get discounts on future purchases.
Loyalty programs can be used in many different ways:
- Encourage sharing: Give customers a discount when they refer other people to your store, so they feel like they’re getting something back when they recommend you.
- Reward engagement: Let customers earn points by engaging with your brand, such as watching videos or reading articles about what it’s like working at your company. These rewards can then be used toward future purchases from the store.
- Use social media influencers: Partnering with influencers is an effective way of getting the word out about new product launches or sales promotions without having to spend too much money on advertising costs!
There are many ways to boost the effectiveness of a loyalty program, from offering different types of reward points to personalizing what you offer based on customer profiles
How can you make your loyalty program more effective? There are many ways to boost the effectiveness of a loyalty program, from offering different types of reward points to personalizing what you offer based on customer profiles.
One thing that we’ve found works well is offering rewards for sharing, referring and engaging. For example:
- Share with friends and get 10% off your next purchase.
- Refer a friend and get QAR 5 in reward points per referral.
- Engage with us on social media and get QAR 1 in reward points per share or tweet (for example).
- Or, in case of Getit.qa, get 2.5% cashbacks on all purchases!
Here is one other idea:
Offer rewards for returning to the site (e.g., 50% off your next purchase) after being away for several months or longer than usual; this could be combined with an email reminder sent out when they haven’t been seen in awhile so it doesn’t feel like spamming them every time they go away for awhile but then come back again soon after getting another reminder about how long it’s been since their last visit! 🙂 It’ll help keep them coming back more often instead of just making one-off purchases here and there which might not benefit either party much overall.”
Loyalty programs can help you reward your best customers and expand your reach, growing revenue for your store in the process.
You can use a loyalty program to reward customers who engage with your brand, spread the word about your business, and make repeat purchases.
A loyalty program is a set of benefits that are only available to members. It encourages repeat visits by rewarding customers for sharing their opinions on a product or service, referring friends to your store, and sharing photos on social media. The more they share and engage with you, the more rewards points they earn—which means more money for you!
Customers who sign up for the loyalty program will have their name added to an email list that only sends out exclusive offers when new products are released or discounts are offered. This way, even if they aren’t checking out any of our products right now (or aren’t aware of them), we still have this opportunity to reach out at another time down the road when one of our items may be just what they need!
If you’re still not convinced of the benefits of loyalty programs, take a look at your own behavior as a consumer. If you’re like most people, you are likely to shop more often at stores that offer perks like discounts or free shipping. It’s no wonder these companies have such high retention rates—they know that keeping customers happy and engaged is key to growing revenue in their business. And now we hope our explanation of how this process works will help convince ecommerce merchants of its effectiveness!