Kissmetrics

AUGUST 6, 2021

It costs 5X less to retain a customer than it does to acquire a new one. That’s why customer retention is crucial to growing your Ecommerce business. What is customer retention? Customer retention is the ability to encourage customers to keep coming back to make purchases.

Customer Retention 302

Customer Retention Customer Payment Services BigCommerce 302

lateshipment

MAY 21, 2021

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.

Customer Retention 130

Customer Retention eCommerce Customer Social Media 130

RTP blog

JANUARY 9, 2019

However, the word still conveys an important truth: retailers must take every action possible to maximize customer engagement opportunities across both traditional and emerging channels. Did anything from the survey catch your eye? The survey showed a 32 percentage point rise in 2018, reaching 84% of total respondents.

Omnichannel 150

Omnichannel Multi-channel Channel eCommerce 150

GetElastic

NOVEMBER 9, 2021

Based on evidence from 2021’s State of Digital Commerce Report, and 2020’s B2B Digital Commerce research, the survey examines digital commerce through the lens of multiple verticals and business models. By 2024, 15% of B2B organizations will use digital commerce platforms to support both their customers and sales reps in all sales activities.

B2C 146

B2C B2B Customer Retention Subscription 146

Wiser

SEPTEMBER 27, 2023

Customer satisfaction surveys are an invaluable tool for businesses seeking to improve their performance and stay ahead of the curve in an increasingly competitive market landscape. These surveys provide direct insights from the very people who matter most—customers. Surveys are not just questionnaires.

Customer 146

Customer Retail Customer Retention Improvements 146

Retail TouchPoints

JANUARY 29, 2024

While nearly two-thirds ( 65% ) of retailers responding to the 2022 survey had assigned in-store staff to these tasks, that percentage dropped to 56% in 2023. While just 45% of 2022 survey respondents outsourced deliveries to courier services, 57% did so in 2023. The percentage using third-party companies also rose, from 29% to 38%.

Fulfillment 250

Fulfillment Shipping Costs Omnichannel Retail 250

Smile.io

MAY 1, 2023

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.

Customer Retention 71

Customer Retention Customer Customer Loyalty Merchant Services 71

lateshipment

MAY 28, 2020

Surveys have repeatedly shown that a majority of buyers refuse to shop from a retailer following a negative delivery experience. As if this were not bad enough, many such former customers end up posting damaging reviews on social media and forums that deter potential customers from buying from this retailer (could be you!).

Shipping Costs 246

Shipping Costs Customer Retention Shipping Small Business Retail 246

Retail TouchPoints

JULY 5, 2022

In fact, Retail TouchPoints has seen the number of channels used to conduct business grow year after year in its annual Omnichannel and Fulfillment Benchmark Survey. Prediction 1: Retailers will continue to balance customer acquisition and retention. More retailers are going omnichannel in order to maximize growth.

Omnichannel 235

Omnichannel Fulfillment Customer Retention Channel 235

Retail TouchPoints

JUNE 23, 2022

This is also the ideal time to review the online customer journey, because consumer expectations for ecommerce convenience and personalization are higher than ever, based on the findings of ClearSale’s 2021 State of Consumer Attitudes on Ecommerce, Fraud & CX survey.

Payment Services 252

Payment Services eCommerce Payments Retail 252

Kissmetrics

APRIL 21, 2021

Omnichannel e-commerce provides a better customer experience and allows your brand to take advantage of new platforms, increase customer retention rates, and boost sales. Omnichannel E-Commerce Strategies Provide a Better Customer Experience. Increase Customer Retention Rates and Sales.

eCommerce Marketing 254

eCommerce Marketing eCommerce Omnichannel Marketing 254

Retail TouchPoints

JANUARY 2, 2024

To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts ( 77% ) and loyalty program points ( 61% ), according to Retail TouchPoints research. However, a Deloitte survey reveals that consumers’ loyalty program preferences and expectations are evolving.

Consumer 253

Consumer Shipping Costs Customer Retention Information 253

Retail TouchPoints

APRIL 5, 2024

And marketers with a strong data foundation can create a seamless synergy between their CDP and MMH systems, fostering real-time communications that move at the speed of the customer’s interaction with the brand. Pini Yakuel is the Co-founder and CEO of Optimove , a customer-led marketing platform. It ensures personalized messaging.

Retail 281

Retail Games Multi-channel Leisure 281

Retail TouchPoints

JANUARY 18, 2022

For example, when surveyed outside of the holiday season , shoppers ranked free and faster shipping, instant discounts, free giveaways and surprise rewards as benefits that motivate them to stay or renew a loyalty program membership. Offer personalized benefits that evolve with customer needs.

Customer Retention 266

Customer Retention Social Media Shipping Point of Sale 266

Retail TouchPoints

JUNE 29, 2021

Most in-store data had traditionally been compiled via manual inventory tracking, surveys and historical purchase data. Over the course of 2020, retailers increasingly turned to AI-driven technology to optimize their operations and better understand their customers. The pandemic made the traditional guessing game difficult.

Payment Services 222

Payment Services Retail Customer Retention Payments 222

Retail TouchPoints

JULY 21, 2022

To truly understand the impact of all these forces on consumers and the brands that market to them, Qonsent surveyed 1,000 U.S. But a separate survey from Motive.co Want to learn how you can collect more first-party data and bolster your marketing strategies to drive customer retention and loyalty?

Marketing 265

Marketing Consumer Information Customer Retention 265

Kibo

FEBRUARY 3, 2023

Whether you’re a B2B company selling recurring services or a DTC company selling product subscriptions, customer retention and happiness are at the core of a successful business. In this article, we’ll outline four strategies to help boost your retention rate and discuss how technology will help you implement these strategies.

Customer Retention 62

Customer Retention Subscription Payment Services Customer 62

SellBrite

JUNE 7, 2017

Savvy business owners know that customer retention is worth its weight in gold. The numbers say it all: it costs five times more to bring in a new customer than it does to maintain a current one and the odds of making a sale to a current customer are 60-70 percent compared to only a 5-20 percent chance of selling to a new lead.

Customer Loyalty 161

Customer Loyalty Social Media Customer Customer Retention 161

Omnisend

APRIL 28, 2021

Enter retention marketing—the difference between constantly struggling to attract first-time buyers and comfortably selling to loyal customers. Many will often reference impressive numbers with retention marketing, like how increasing customer retention by 5% leads to a 25% to 95% boost in profits. Post-Purchase.

Marketing 196

Marketing Customer Retention Merchant Services eCommerce 196

Retail TouchPoints

MARCH 26, 2021

As customers continue to demand convenient and free delivery, big retailers like Targetare leveraging existing store networks to offer flexible fulfillment options. Among retail executives surveyed by HRC Retail Advisory, 66% say that inventory inaccuracies make their buy online/pick up in-store (BOPIS) offerings inconsistent.

Customer Experience 299

Customer Experience Technology Customer Fulfillment 299

Groove

NOVEMBER 12, 2020

Take advantage of this opportunity to save big and earn more by nurturing and rewarding your current customers. If you were to ask us how to improve the customer experience, we'd say that rewarding loyal customers is one of the most important things brands can do. Ask For Feedback.

Customer Experience 243

Customer Experience Improvements Customer Social Media 243

Sailthru

AUGUST 7, 2018

We all know that persuading an existing customer to buy again is so much less expensive – sometimes one-tenth the cost – than acquiring a new customer. And we’re starting to see how excellence in customer retention can provide truly relevant data to acquisition teams. That’s right. Really tiny.

Customer Retention 60

Customer Retention Customer Games Improvements 60

Sailthru

AUGUST 7, 2018

We all know that persuading an existing customer to buy again is so much less expensive – sometimes one-tenth the cost – than acquiring a new customer. And we’re starting to see how excellence in customer retention can provide truly relevant data to acquisition teams. That’s right. Really tiny.

Customer Retention 60

Customer Retention Customer Games Improvements 60

Kissmetrics

JUNE 9, 2017

In a survey by Econsultancy, 74% of marketers stated that personalized email marketing increases customer engagement. Customer Retention. 32% of executives say that retaining existing customers is a priority. Instead, it’s all about offering a great customer experience with personalized content and offers.

Customer Retention 205

Customer Retention Customer Data Information PPC 205

Retail TouchPoints

MAY 11, 2021

With that in mind, here are five essential KPIs you can use to measure how good your returns experience is, so that you can make sure you are improving customer retention and lifetime value. Does going through the returns process make customers less or more likely to shop with you again?

Customer Experience 186

Customer Experience Customer Customer Retention Definition 186

Retail TouchPoints

MAY 28, 2021

But customer service must be prioritized by every organization. Here are three data-backed reasons why: Good customer service leads to increased customer retention rates. ? Customer service plays a crucial role in brand image. Proactive customer service is a powerful form of marketing. Why is this important?

Payment Services 158

Payment Services Games Live Chat Customer 158

Groove

JULY 31, 2024

It analyzes customer interactions and metrics, such as brand perception and satisfaction, to personalize various elements of your marketing content, including: Social proof Countdown timers Discounts Product recommendations Optimizing ads so that they align with specific customer interests can have a powerful effect.

Customer Data 195

Customer Data eCommerce Marketing eCommerce Customer 195

BigCommerce

APRIL 14, 2017

Because in the Baymard Institute survey , consumers could choose multiple reasons why they abandoned cart, we cannot evenly break down exactly how many people abandoned cart solely because of final price point in checkout. Want to see exactly how much you could save? Use our abandoned cart calculator here. Want more insights like this?

Shipping Costs 411

Shipping Costs Payments Payment Services BigCommerce 411

Retail TouchPoints

JANUARY 31, 2024

Lately, Intuit Mailchimp has been laser focused on solving our customers’ clustomer problem. In our recent survey with Edelman DXI , we found that customers are 87% more likely to click into an email if it’s personalized to them, and 71% of customers are more likely to purchase from a company that sends them personalized email.

Marketing 228

Marketing Customer Retention Shopify Social Media 228

BigCommerce

FEBRUARY 23, 2018

Customers want to feel like they are valued. Train your employees to treat customers well. Give a personal touch so that when you ask of something from your customers (say, a survey or poll), they will willingly oblige. Measuring the Effectiveness of Your Customer Loyalty Program. Customer retention rate.

Customer Loyalty 378

Customer Loyalty eCommerce Improvements Shipping Costs 378

Retail TouchPoints

JULY 10, 2023

Assistive customer service. Improving customer service has long been a priority for retailers large and small. Service interactions often define a customer’s shopping journey. The agents can instead focus on dealing with more complicated customer issues or driving customer retention offers.

Merchant Services 262

Merchant Services Shipping Costs Retail Social Media 262

Kissmetrics

MARCH 26, 2018

According to the latest Gartner CMO Spend Survey, 67% of CMOs plan to increase their spending in digital ads this year. And the latest annual Private SaaS Company Survey found once again that spending a higher percentage of revenues on sales and marketing correlates with faster growth. Because SaaS’s success is in customer retention.

Customer Retention 206

Customer Retention Social Media SEO Channel 206

Retail TouchPoints

AUGUST 7, 2023

When building your digital marketplace, the customer should be at the center of your strategy — what do your customers want, and what are the needs of the customer base you are trying to acquire? A common mistake is to load up your catalog with the “best sellers” and biggest names and hope for the best.

Subscription 214

Subscription B2B Mobile Customer Experience 214

Retail TouchPoints

AUGUST 15, 2022

Results from Retail TouchPoints’ annual Customer Loyalty and Personalization Benchmark Report reaffirm that retailers are focused on building a strong foundation of first-party data to support their supply chain, in-store services, omnichannel marketing and experiential strategies. . Collect and Leverage First-Party Data .

Customer Loyalty 190

Customer Loyalty Customer Retail Shipping Costs 190

365 Retail

JANUARY 25, 2024

89 % of businesses are planning to invest in new customer loyalty technology and approaches to improve their customers’ experience in 2024, following a turbulent year for customer retention as brands battled to retain customers amidst a spending crunch. greater than their investment.

Customer Loyalty 110

Customer Loyalty Customer Retention Technology Events 110

GetElastic

DECEMBER 25, 2019

If you’re thinking “Hey, it seems challenging to create a retention marketing strategy. How to Enable Your Retention Marketing Strategy. To develop a customer retention strategy, you first have to understand your potential customers. Lost customers : Those who no longer shop with you. We’ve got you covered.

Marketing 124

Marketing Customer Retention Shipping Costs Clothing 124

Kissmetrics

JUNE 28, 2017

You can look at key analytics data to help you get a better, data-backed picture of your customer engagement, using things like customer retention, number of unique visits and how recent they are, as well as regular customer surveys and market research.

White Paper 203

White Paper Customer Retention WooCommerce Definition 203