Yesterday I was asked by an author for a quote about retention that I wanted to share:
What is your #1 tip to improve customer retention for an eCommerce store?
Make sure you're sending emails to new customers that eventually leads them to make a second purchase. Don't assume they'll come back, they won't. This first to second purchase is the largest barrier to customer retention, solve it and everything else becomes easier.
Those three sentences summarized years of research I've been doing for Repeat Customer Insights.
Small stores, big stores, and huge stores. They all have that same problem of the 1st to 2nd purchases and it's such a powerful place to focus your resources on.
It's a hard problem to solve sure, but once you do... watch out. Even incremental improvements stack nicely.
If you haven't installed Repeat Customer Insights yet, the Entrepreneur and Growth plans include the Customer Purchase Latency report which break down the 1st to 2nd purchase metrics automatically. It makes it easy to see how you're doing and if you've improved over the years.
Learn what your customers are actually doing instead of just guessing
One of the best ways to build a sustainable business starts by getting your customers to come back. Mastering that simple process can be difficult, but builds a lifelong business.
Repeat Customer Insights can help you understand your customer's behavior. With its collection of behavior reports, you can see what they're actually doing instead of guessing and having your efforts fall flat.