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[eCommerce 2021] A Step-by-step Guide to Customer Retention

lateshipment

Did you know that the average Customer Retention Rate (CRR) is just around 35% for eCommerce businesses. Just take a look at these stats 65% of a company’s business can be credited to existing customers. Companies have to spend 7 times more to get a new customer than to retain an existing one.

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The Ultimate Guide to Customer Retention

Smile.io

Customer retention is a key element in making sure your ecommerce business is sustainable and in business for the long term. Without repeat customers, your business won’t have the base it needs to grow. 🛍️ Customer retention is about keeping loyal customers, as opposed to recruiting new ones.

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The Limited Role of AI in Ecommerce

Retail TouchPoints

Underlying these experiences is the invisible hand of artificial intelligence, steering our post-purchase journey. While AI presents vast possibilities to enrich this journey, it also ushers in significant challenges that could negatively impact customer retention and a brand’s bottom line.

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Post-purchase Strategies to Turn One-Time Holiday Shoppers into Your Brand’s BFFs

lateshipment

This term is coined as “ The one-time shopper dilemma ”, where e-commerce businesses are unable to convert one-time shoppers into repeat customers due to unfavorable customer experiences. 76% of customers say that an unacceptable customer experience would affect their decision to order from the company again.

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The Top 25 Ecommerce Podcasts of 2018

Optimizely

Come for the thought-provoking journalism that highlights customer experiences, stay for the clever British humor… or should we say, humour? This interview-based show spends each episode picking the brain of a marketing expert on a variety of topics, including SEO, pricing strategies, and customer retention.

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4 Key Strategies for Out-Personalizing Amazon

Sailthru

Amazon popularized collaborative filtering, also known as “ others who bought this also bought that ” style recommendations, a tactic many other retailers have since adopted… and improved upon. Here’s how: Strategy #1 – Go Beyond Collaborative Filtering for Recommendations. Better acquisition.

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10 E-Commerce Shipping Best Practices You Should Know

lateshipment

As an e-commerce business owner, strategizing and having clear goals will give you the right direction to your shipping game. If your goal is increasing your customer base then focus on expanding your shipping to different markets. Leverage a chatbot to improve customer experience.

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