Acquire

9 Strategies To Generate More Revenue From Existing Customers

author
Laduram Vishnoi
CEO, Acquire.io
9 min read
9 Strategies To Generate More Revenue From Existing Customers

What we know now in the is that the ‘E’ in the E-commerce doesn’t stand for ‘Easy’. -John Hagel

To make a new customer for your E-commerce company is tough, but making a repeat business with the same customer requires diehard efforts. In this competitive industry, every company is offering a product of the same value. To make a difference and customer loyalty, you should make your customer not only satisfied but also build his trust so that they can make a repeat business with the company without any hesitation.

So wondering how to get maximum business from repeated customers? Here are the top 9 Strategies, to generate revenue from your existing visitors.

Why Focus On Generating Revenue?

You may have good ranking in Google, your website traffic numbers are pretty good, but is that all enough?  No.

Until and unless you don’t generate revenue from your website, it’s probably of no use. Securing a good position in the search engine ranking page, and generating revenue two are completely different things.

Undoubtedly, good ranking and website traffic in today’s tough competition is a must. But what’s more important is to convert those website visitors into leads and ultimately into a happy customer.

1. Integrate Live Chat

Have you ever considered adding a live chat option to your site? Depending on the type of business, a live chat service can actually do much more than just offering a quick and painless customer service. When implemented in the right way, live chat can boost conversions on your site, the number of returning website visitors and eventually, revenue.

One of the best things about live chat is just how much assistance customers look to get from it, with almost 73 percent customer satisfaction hailing from the live chat.

In fact, according to a source, almost 62% of online shoppers agreed that they would have purchased more items from an online store if live customer support had been available during their shopping. And approx. 38% said they had bought a product because of the chat sessions they had used.

The facility to chat with one of your company’s reps in real-time and that too instantly will help to retain customers and build a more user-friendly, engaging website with good revenue generation.

Online users like and prefer live chat for many reasons, and time and quick response is a key factor.

Why business preferred live chat

Source: Econsultancy

No matter whether a shopper has doubt about the durability of a product, or is stuck in between, live chat software like Acquire offers a myriad of features including audio chat, co-browsing, video chat and others to help site visitors in every possible way. This helps eliminate bounces away from eCommerce websites and make sure that full shopping carts make it through check out. Additionally, it helps brands by making visitors act on ‘Call-to-action’ button without being pushy.

2. Make their first purchase special

 

You will not get a second chance to improve your first impression. Therefore, make you throw the first impression about the company right. Always try to serve your customer beyond their expectations. Below are the various ways, in which you can make the customer’s first purchase special:

  • Welcome email: When the customer register first time, send a personalized email that welcomes them as the new customer. Also, mention in an email why doing business with your online store will be special.
  • Offer them a discount or extra stuff: This is the most viral trend among ecommerce. The customer always feels happy and positive about the site if they will get a discount or something extra as the gift of his first purchase. If he is happy with the site, he is more likely to make a purchase next time.
  • Watch your words: Never sound too much professional in an email. Keep your email personalized. Also, avoid using “Do Not Reply Email” to any customer. Email is the chief tool for communicating with the customer.

3. Try Remarketing (Google Adwords)

Remarketing is the process of sending an offer or incentives to a consumer after they have made a purchase.

Remarketing is beneficial in reminding a customer that you still value them and he is equally important for you even after the purchase. Generally, email is the best method for the process. But you can also do remarketing through push notifications or SMS.

If you can encourage consumers to sign up for newsletters and emails, email remarketing can be tremendously effective for lashing more sales. But make sure you are not overdoing it. Lots of unnecessary emails and notification can irritate the customer. Therefore, proper email strategy should be formed.

Remarketing (Google Adwords)

The great thing about this advertising method is that it can be used by businesses of any size and niche. The more your website visitor is reminded of the product they have recently browsed, the more probable they’re to return to purchase it. Retargeting if done correctly, it can give the highest Return of Investments.

Also, note that remarketing is not only limited to Facebook. You can also tap into all of the websites showing Google ads by making the most of remarketing on Google AdWords.

Re-marketing Google Adwords

How to do Remarketing with Google AdWords?

Standard remarketing: Displaying ads to your recent visitors when they browse/use Display Network apps and websites.

Dynamic remarketing: It’s a great way to boost your results, which takes remarketing to the next level with ads that consist of products or services that users have viewed on your site.

Video remarketing: Displaying ads to online users who’ve interacted with your YouTube channel or videos.

Email-list remarketing: Upload a list of email addresses given by your customers with customer match. When those people are signed in to Gmail, Google Search, or YouTube, you can display the ads.

Remarketing for mobile apps: Display ads to online shoppers who have recently used your mobile-friendly website or mobile apps when they browse any other mobile websites or use mobile apps.

Remarketing lists for search ads: Display ads to your past website visitors as they do follow-up searches for what they are looking for on Google, once leaving your website.

4. Google Analytics

Google Analytics is one of the most powerful tools or a piece of software that can be used for increasing the conversion rates.

google analytics

With a thorough and detailed look at the data, you can make out why visitors are not buying from you and where you have to focus your attention in order to improve your results.

Numbers of companies depend on the macro traffic volume as a sign of the website’s overall success. However, smart and savvy companies are realizing that more traffic doesn’t mean more conversion, revenue, or success. The traffic of each website comprises of different traffic sources.

Properly understanding the actual sources of your site’s traffic and the effect this traffic is having on your conversion rate and revenue are very crucial. It’s the quality that matters and not the quantity of traffic

Here are 4 easy steps to assist you making use of your analytics to understand your traffic source and why it matters:

  • Recognize traffic sources
  • Prioritize based on revenue contribution
  • Address issues
  • Set a regular review date.

Create a method to properly analyze your website’s traffic and their conversion rates. By focusing on the highest traffic sources, you can effectively optimize conversion rates and boost your revenue. Remember not all traffic is equal!

By digging deeper into the Analytics, you can:

  • Identify what’s not working
  • Prioritize tests and improvements
  • Boost traffic from your highest converting sources
  • Increase traffic to products that is selling better

Using Google Analytics, you can properly understand which phase of your sales funnel is making your conversions to breakthrough, and it will eventually help you recognize where you should focus your attention.

5. Role of packaging and distribution

Packaging and distribution are the crucial part of the customer experience in e-commerce. Don’t be one of those companies who simply cram their products in a box or bag and ship with the cheapest method possible. This will impact the customer service desperately.

Packaging and distribution

Below factors should be kept in mind while packaging the product for a customer:

  • Packaging affects 10-20% of your distribution costs, but it also affects your brand. Therefore, make extra efforts to make your packaging more attractive and safe.
  • Using fun or luxury packaging can increase the value of the product. It gives a premium feel to your customers.
  • Always look for lightweight and cost-effective packaging that protect a product. Do it attractively but also make sure it doesn’t cost add more cost to shipping.

6. Faster and cheaper (or free) shipping 

According to the survey conducted by UPS Pulse;

83% of customers are willing to wait an additional 2 days if the online store is providing free shopping. 58% of customers add more items to qualify for free shopping. 31% customers will look elsewhere to find for a better deal on shipping for the same product.

The above statics clearly state that every customer is more concerned about the shipping charge. Also, they expect the faster delivery of their order. If you can provide them with faster and cheaper shipping, then they are more likely to do the repeat business from you.

The words displaying 'Free Shipping' on your website provides can be a noteworthy advantage over your competitors that don't offer free shopping. If you want to provide free shipping to your customer, then you should either absorb the cost or increase the price of the product slightly.

7. Give Reason to Visit Again— Show them Proof!

Whatever you claim about your business, you have to back it up with proof. People are incredulous and they look for the evidence.

So what type of proof can you offer to your customers and prospects?

Customer’s testimonials- Customers who used your products and services are the best way to verify all your claims.

Case studies-Case studies are the best way to show how you helped your client.

Social proof- If you’ve hundreds of customers, show it. It is a human tendency to believe and use what other people are saying or using.

Show it- Nothing works like a great demo to show what your product does, its features, working and more. Use videos to showcase your product/services in action.

8. Make your Returns policy transparent

Return and refund are integrated part of customer service. To make your customer’s experience better, you can build a strong returns policy.

Below are the points that should be kept in mind while building the great returns policy:

  • Never hide your policy is never recommended. Be transparent with your customers.
  • Use plain and simple English that can be understood by all your customers.
  • Making harsh policy may stop customer to purchase the product.
  • Educate your customer service team about the returns policy. So, that they could assist the customers quickly without confusion.

By following the above points, you can make a smooth returns policy. That will enable a consumer to make a repeat business.

9. Provide them with superior customer service

Customer service is the backbone of any ecommerce company. According to the survey, conducted by Right now technologies;

89% of shoppers have stopped buying from online stores after they’ve experienced poor customer service.

The poor customer will not only stop a customer to make another transaction, but it will also encourage them to write the negative feedback about your site on social media. And bad Word of mouth is no less than an evil for an e-commerce site.

Below are the various ways to provide your customer with amazing customer service:

A) Track all customer interactions:

Tracking all customer interactions helps to reduce time wastage for both your agents and customers. It also helps the agent to resolve the issue smoothly. Ultimately, the customer experience the quality customer service.

B) Listen to your customer on social media:

According to desk.com, 46% of online customers expect from the brand to provide customer service on Facebook. Social media reduces the gap between customer and seller.

C) Focus on timely responses:

Whether it is email, chat or social media conversation, the customer expects the faster responses. Act quickly to win your customer so that he can trust the company more than ever before.

The Bottom Line-

Every business is either meant to be growing or failing— it’s all about to you. A single step can either make or break your business. Successful companies constantly revamp themselves by listening to their customers’ demand and feedbacks, and by modifying their sales, products, processes and strategies to fulfill a continually shifting model. By following the above tactics, an ecommerce company can succeed to make a repeat business with a customer.

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