With rising customer acquisition costs and a need for reliability and credibility, customer retention is the primary growth strategy for leading brands in 2021. Brands that are able to understand their existing customers’ needs and build a meaningful relationship with them will ultimately be able to generate more revenue without a large ad budget.
The secret to retaining customers is simple— get to know your customers and use this insight to provide better experiences. This is sure to work better than just setting up generic messaging and hoping it sticks.
What’s more, we’re taking the guesswork out of this process of retaining your customers! In this article, we’ll help you understand how you can ace your customer retention strategy just by getting to know your customers better.
What is Customer Retention?
Before we dive into how you can retain customers successfully by understanding them, let’s quickly look at what customer retention actually is.
Customer retention is the ability of a business to turn customers into repeat buyers. If you can smartly communicate and bring back past customers to buy from you time and time, you’ve been able to successfully retain them. eCommerce experts swear by customer retention for a few reasons:
- Increase repeat purchases and maximize the lifetime value of a customer.
- Cost of retaining a customer is 5 times cheaper than acquiring one.
- Increasing customer retention by 5% can increase profits from 25-95%.
Cheaper, better revenue, and long-term benefits— the importance of customer retention for Shopify stores is clear. It is one of the best ways to scale your business.
How Getting to Know Your Customers Boost Customer Retention
One of the most common tactics used by merchants when they aim to retain customers better is to use insights they have about the shopper to send more personalized messaging. By understanding your customers better and learning their motivations better, you can turn insight into action, add personalization to your eCommerce strategy, and tailor your experiences and messages to better appeal to customers.
Let’s take an instance where a shopper hasn’t visited your Shopify store in two months. You could send them an email about your offers and the latest products. Or, you can send the shopper an email letting them know about the rewards available within their customer account and build urgency over its expiry while displaying recommendations of products that the shopper would like.
It’s clear that shoppers would respond better to the personalized email about their remaining rewards.
Most merchants tap into their own data to get customer insights that they can fuel into their marketing strategy. But, before you can look into your Shopify store data, you need to keep your customers engaged on your Shopify store and make them eager to spend time on-site. This is where the Shopify customer account page helps!
Get to Know Your Customers With Your Shopify Customer Account Page
A customer account page gives your shoppers a dedicated space to save items, view their past orders, and make quicker purchases. The Shopify customer account page is their personal playground, making interaction on your Shopify store a delight.
Here, shoppers would engage with your store. You can then use insights from the way customers interact with the customer account page and the products they save to tailor your messaging, increase purchases, and retain customers better.
By default, the Shopify customer account page is a generic page, with only “Orders” and “Addresses”. However, with a Shopify customer account app like Flits, you can transform this page, reflect your brand’s visual identity, and include robust features like loyalty points.
If you’re confused how your customer account page can help you understand your customers, here are 4 ways to leverage your customer account page:
1. Engage customers with a well-designed and robust customer account
A well-designed customer account page can help you engage your customers better. Leading eCommerce brands like Amazon and H&M have been able to display the benefits of being a registered customer by setting up a customer account page that reflects their branding and includes features like rewards and wishlisting.
The first step to engaging customers is a better customer account page. On Shopify, you usually have a default and generic customer account page. However, by customizing its appearance and adding more features, you can make your customer account a space that customers want to use.
Flits is a Shopify app that lets you customize your customer account page. Install the app now!
2. Gamify the experience with rewards
One of the best ways to motivate shoppers is through rewards. Many brands set up a rewards program to gamify the experience of shopping from them, automating the process of retaining customers.
Reward programs are straightforward. Shoppers earn rewards for placing an order, leaving a review, and taking other such actions on your Shopify store. The ability to earn more rewards continuously would make the customer feel special and they would be compelled to use up the rewards they earn.
For instance, The Man Company set up reward tiers on its store. This makes shoppers eager to climb the rewards tiers, making them spend more and boosting repeat purchases. See how The Man Company has transformed its customer account pages.
Incentivize shoppers to make repeat purchases, without doing the legwork to personalize your Shopify store experience!
4. Understand purchase intent with browsing history and wishlist
The Shopify customer account page set up through Flits allows your shoppers to save items they like and even view their browsing history. You can use these features to understand purchase intent and optimize your strategy accordingly. Here are a few opportunities available to you through this data:
- Understand which products need to be stocked up better and plan your inventory better.
- Place products which are commonly wishlisted within recommendation widgets across your Shopify store.
- Send personalized messages reminding shoppers about their wishlisted items or previously viewed products.
5. Tailor your messaging based on reorder trends
With a customer account page that increases repurchasing, you can use this insight to understand which products are commonly reordered and set up better shopping experiences. You can automate emails or SMS to shoppers every month or two about an item they have reordered in the past, making your marketing more specific and relevant enough for customers to take action on.
For instance, you may find that a specific type of product gets a lot of reorders. You can use this information to set up bundles or allow shoppers to subscribe to a monthly or quarterly order of the item.
Set up a winning customer retention strategy with a Shopify customer account page!
By getting customers to engage with your Shopify store, you can understand your customers better and set up personalized experiences that will build your relationship with them and bring them back to shop.
We hope this guide helped you understand the effectiveness of your Shopify customer account page in increasing customer retention for your Shopify store.
If you’re planning to redesign and enhance your customer account page, Flits is the only Shopify app that lets you transform your customer account page, customize it, and add personalization features to allow your customers to frequent your Shopify store.
The app lets you set up a range of features on your Shopify customer account page:
- Order History: Shoppers can view their past orders easily through this page.
- Saved Addresses: Let shoppers save addresses and manage them via this page.
- Reorder: Allow shoppers to reorder specific items through the Order History page with just the click of a button.
- Wishlists: Let your shoppers save items they were interested in to simplify their experience on your Shopify store and let them buy these wishlisted items with a direct add to cart.
- Rewards: Set up a rewards program within your customer account page where shoppers can view activities that will earn them rewards and even redeem them.
- Referrals: Allow shoppers to refer your store to other potential customers and earn rewards when a referred customer registers or shops.
- Social Login: Allow shoppers to login with just one click using their social media accounts.
- Browsing History: Set up a ‘Recently Viewed Products’ section on your customer account page so that shoppers can view their browsing history and not have to struggle to find items that caught their eye.
Once set up, you can monitor how customers use their customer account page, make tweaks, and then use this data to set up personalized marketing messages and even on-site tactics for better conversions.