In this saturated eCommerce market, customer retention is extremely important as clicks and conversions cost a lot. So, it becomes extremely important to track how your existing customers are receiving your products or services. One of the best ways to do this is by measuring purchase frequency.
What is Purchase Frequency?
Purchase frequency is the number of times a customer purchases products or services within a stipulated period of time. It helps companies to gain insight into the behaviour of customers and know if your products or services have appealed to them or not.
Importance of Purchase Frequency
If you’re into eCommerce business, you must be aware that retaining your current customers and making them do additional purchases is much cheaper than acquiring new customers. In addition, the customers who have already purchased from you and have a good shopping experience are more likely to shop from you again in comparison to the ones who are yet to make their first purchase.
Ways to Make Better Purchase Frequency
• Use Email Marketing
The versatile nature of email marketing makes it a great method to improve purchase frequency. To attract the customers, who have abandoned the cart or the ones, who have already purchased, provide content related to your brand, let them know about new products and promotions, personalised product recommendations based on buying or browsing history. To decrease friction for new customers, you can send helpful content regarding the usage of products, benefits, and so on. You need to create personalised, useful, and engaging content to make your email marketing effort successful.
• Invest In Retargeting Ads
Making sure that your brand is unforgettable can help in increasing purchase frequency. When a new customer visits your online store or has made a purchase already, persuading such customers to return to your website to purchase again is possible with retargeting. You can retarget your customers with personalised advertisement that complements the most recent purchase. Set a time frame for the customers to be back to your website and make purchases; this will help you to retarget in a timely and productive way.
• Offer Personalised Customer Experience
The more personalised are your marketing efforts, the better is your conversion rate. Measurable improvements can be seen when you put personalised touch to your marketing methods. Whatever marketing channel you choose, it should offer an extremely personalised touch. Moving beyond basic automation and giving your customers with extremely personalised content will make your customers visit your website and make purchases again and again. The message you share should resonate with each customer.
• Create Loyalty Programs
Appreciate your customers for the continued connection they have made with your company by rewarding them. Loyalty programs can be done by giving rewards, coupons, free merchandise, and discounts. You can even reward your customers with points based on the amounts they have spent on purchasing, which they can redeem on their next purchase or provide access to exclusive offers.
• Enhance Customer Satisfaction
Customer satisfaction is key to business improvements. If your customers are not satisfied with the service you provide or the products you offer, all your marketing efforts turn out to be waste no matter how great the campaigns are. Chances of returning back to your website to make future purchases become less.
However, there are ways to improve customer satisfaction which can be helpful in your case, as well. Use customer feedbacks and reviews to know the issues, and provide quick and appropriate solutions. You can identify points of friction, whether during checkout, shipping order, using products, or pre/post- purchase customer service.