Increasing customer retention by just 5% can boost profits anywhere from 25-95%
Churn is never good. Whether you’re talking about the loss of repeat customers, the labor of making butter, or burnt chicken but you’re shortening it to save time.
Most people associate churn with paid software or apps, but customer retention is a big concern for Amazon sellers as well. To increase their retention, many sellers are integrating their FBA account with tools like Shopify or Selz.
The biggest benefit of this is you can collect consumer information on your site and pass it through to a CRM like Klaviyo so you can be more in control of communications with customers.
With a recent Series D infusion of $320M, Klaviyo is poised to continue to add ways for sellers to communicate value to consumers, offer new products, and increase repurchasing.
Customers no longer strictly rely on price in their purchasing decision, so it’s no surprise that most companies are focusing on improving customer experience. People are willing to pay a premium for the highest quality retail therapy, and when everyone’s selling Slip-n-Slides why not offer Disney World?
So what are some things you can do to increase customer retention?
- Continuously improve your products, because it’s the best way to encourage repurchasing
- Offer subscribe and save options with clear return guidelines
- Set up a Brand Registry account and connect with past buyers to offer them new deals and products
- To get the customer, become the customer! Go through the purchase process as a customer to find out the ways to improve the overall experience.
- Follow up! Make the customer feel extra value in their purchase with post customer care!
And there you have it. So remember, when people let you down, just hire a robot! Get a no “invasion” clause though.
