In the world of online retail, customer retention is a regular topic of discussion, but just how much more are current customers worth to your business?
Our research shows a dramatic jump just between the first and second sessions – a 97% jump between those two visits!
You can find more on that, and other actionable insights in our Q2 2016 eCommerce Benchmark Report.
Our latest eCommerce Benchmark Report is free for you to download today:
Second time’s the charm for online retail
Simply building an experience to draw a shopper back for a second visit can have a dramatic impact on your overall site conversion rate. After all, how many times do we make purchases on our first visit to a new retail store?
Customer loyalty is worth a lot to your business, and keeping current customers is more cost-effective. According to data collected by Yotpo from 150,000 businesses, only 15% of customers are repeat customers and yet these same customers account for a third of total spend for retailers online.
Marketers spend a lot of time and money on customer acquisition, but little on retention. Acquisition is important to get a user to visit your store so they can make their first purchase, but the data collect in our latest Benchmark Report shows it’s your loyal customer base that are your most profitable.
Increase Conversion through customer Loyalty
For retailers looking drive conversion, being able to leverage the loyalty of your customers is an easy win. Focus on implementing marketing strategies that will get customers to return. Building trust through the creation of User-Generated Content (UGC) is a proven way to get incoming visitors to return, earning you new sales and increased conversion.
Want to boost your conversion in the second half of 2016?
For more insights on conversion, acquisition, and retail discovery, download your free copy of eCommerce Benchmark Report for Q2 of 2016 today: