Magento Commerce Customer Loyalty
The cost of finding new customers is 3 times the cost of retaining one existing customer. Therefore, it is better for businesses to keep your customers coming back and maximize their lifetime value. It is time you need a method to inspire and keep your customer loyalty.
Magento Commerce offers a host of toolkit to help you build customer loyalty, ensuring store owner can cut the expenses in turning site visitors into customers and keep your customer more loyal and dedicated.
Allows to manage privacy settings of customers list (some they can make public, others may be saved as private).
Physical and virtual. Gift cards increase sales and expand customer audience.
- Private sales
For your high-value customers provide exclusive shopping experiences and, as a result, higher engaging and customer loyalty. Also, now private sales allow implementing the Invite-a-Friend feature.
- Recurring and bulk ordering
For B2B wholesale and manufacturing buyers.
Reward points are an easy way to control customer behavior. We tend to act when there are motivations for us to do so. Reward points work by creating a gamification system.
- Reward pointsfor purchases, registration, product reviews, etc. The more customers buy, the more points they earn. Points can later be redeemed for discounts, free gifts, and other incentives.
- In-Store Credits
In-store credit might act as an alternative method of payment for customers. In-store credits offer many benefits to store owners compared to a normal refund.
- Reduce money refund rate, which incurs chargeback fee for merchants and create a bad credit score in the payment gateway system.
- Protect business cash flow, since there is no need for actual money to be returned to customers
- Motivate consumers to purchase more, as credits can be used for purchase only and not exchange as cash
- Gift Registry and Cards
When customers find any products that they are interested but cannot afford it, they usually need to save these products into a wishlist or something so they can come back to these products later. Not stopping there, gift registries also allow you let your friends buy these products and send them to you as gifts.
- Create a list of gifts and their quantity
- Share your list with everyone through different platforms
- Allow friends to search for your gift registries
- Allow friends to see a list of products that you added to your gift registry
- Allow friends to buy gifts for you and send them to your door
- Notify gift registry owners when someone bought a gift for them
- Make sure your friends buy you what you wanted for your special occasion
- Private Sales
This is a traditional sales method familiar with physical store owners that let customers purchase products in a VIP environment and a system of privileges. This type of sale often accompanied by a gestures of appreciation, can prove highly effective in the customer retention process. The main activity of private sales in eCommerce is take advantage of discounts. So, to organize your private sales successfully, you need a focusing strategy, customized relationship marketing solutions.
- Bulk Ordering
In some industries with high elasticity of price, business owners do business on the constant budget. One potential strategy is purchase items in bulk for a considerable discount. Choosing the items to buy in bulk wisely to avoid ending up with more than you need.
Take advantages of above tips can increase loyalty among your customers who will be ambassadors for your brands.