6 Customer Retention Strategies for the Holidays
The 2016 holiday season will undoubtedly see an increase in website traffic and sales for your eCommerce shop. Just how big is the Black Friday weekend through Thanksgiving? Last year data released by Adobe reported $4.45 billion online on Black Friday and Thanksgiving Day!
Pollen has the top of your marketing funnel covered this holiday season, but while driving qualified prospects to your site is key, moving the influx of traffic through your sales funnel and turning those users into loyal, repeat business year after year is the key to a successful Black Friday weekend.
Further, studies show that by increasing customer retention rates by 5% you can increase company profits by 25%-95%. You’ll start smiling when you put last year’s Black Friday sales to those percentages.
With a lot of tools out there, we’ve put together 6 customer retention strategies for the holidays that will take your online store to the next level this season!
1. CUSTOMER SERVICE
Great customer service is important all year round and it’s crucial you keep your relationships strong during the holidays. It’s no surprise that 47% of customers would take their business to a competitor within a day of experiencing poor customer service. In 2016, with so many businesses offering similar products, the best way to stand out from the pack in Q4 is to make your customer experience irresistibly pleasant. Keeping your customer database organized and responding to questions and feedback quickly and knowledgeably is the first step.
2. REWARDS/SALES PROMOTIONS
Your brand is worth every penny, but the holidays are all about sales, discounts, and free shipping policies. To give you a better idea, 80% of shoppers would switch stores or brands if offered a compelling promotion. With so much competition during the Black Friday weekend, this is a sure way to stand out from the crowd and build first time shopper loyalty!
3. EMAIL MARKETING
As we live in an attention economy, it’s imperative that you connect with your clientbase frequently. During the holidays, email marketing serves as a tremendous tool to keep your brand top of mind, and referring back to number 2 on our list, advertising your sales and promotions! Platforms like MailChimp make it super simple to keep your customers informed. As far as results, email marketing has a 3800% return on investment! If you’re looking to acquire new customer email addresses, check out this article.
4. SOCIAL MEDIA
While no one platform will do all your marketing for you, social media is an important component in your marketing mix. Facebook boasts 1.13 billion active daily users and Instagram just hit 500 million active active monthly users. As you can see, this is a huge audience to market to surrounding the holidays and keeping a clean, organized social media page is a great way to communicate with potential customers all over the world this year!
5. REDUCE WEBSITE BOUNCE RATE
With the added traffic brought on by the holidays, the goal should be to keep new customers on your site as long as possible. By examining website, product, and content issues on your page, you’ll be on your way to retaining more customers. Here’s a quick article on some steps you can take right now!
6. IDENTIFY YOUR CUSTOMER
You can find customers in places you never thought and your top spenders can be a completely different group than you had envisioned. Analyze location and basic demographics and tailor content and marketing campaigns around those users. Pollen can help with this part!
In conclusion, customer retention is important in driving success for your business during Q4. Follow these 6 customer retention strategies for the holidays and you’ll be on your way to growing revenue!
Any other tips? Feel free to comment below.