If you are a seller and have not yet thought how important customer loyalty is to your online business, now is the time to look at it closely! This is because it is one of the most important aspects of success based on which many a successful seller has build a fortune.
What is customer loyalty?
Customer loyalty is nothing but having the same customer coming back to you time and again to fulfill their shopping needs. The question is—what is it that attracts these customers that they do not go anywhere else but come only to you to buy? Surely, customers have their reasons to do repeat shopping from sellers and they are important ones.
According to Market Metrics*, the average customer spends 67 percent more in her or his third year as your business customer than in the first year.
What makes customers stay?
Irrespective of the product category you sell, customers always look out for something extra that only you provide. Let’s look at those parameters closely.
It may be that your products are of great quality and customers believe that you will always give them the best.
- Timely delivery
It may also be that they are very pleased with your commitment to the marketplace SLAs, meaning, no matter what, you always deliver your products in or on the time that is promised to them while shopping.
- Best Prices
It may well also be that you price your products lower than your competition and give the same quality product as they do.
Whatever the reason, the fact is that loyal customers always come back to you to shop even if you are not running a promotion of any kind. This is because the aforementioned reasons are really important to today’s buyers and they are ready to go the extra mile to get quality products delivered on time.
What else counts?
It is important to note though, that money is not the most important criterion for customers. If you want to build a loyal customer base, then you have to look at some other things too, apart from great product quality and impressive TAT.
- Service Ratings
You have to make sure that your service ratings and other customers’ feedback about you on marketplaces is better than your competition.
According to a survey by 24/7, 47 percent of customers have switched companies after a single instance of poor customer service.
- Variety in catalogue
You also have to have a wide variety in your catalogue and your products’ content (description and images) should be complete, compelling, and crisp.
- Promotions and discounts
You can also look at giving out freebies, discounts, coupon codes, and wallet discounts etc. to woo customers to your account on marketplaces and then serve them with best products and swift TAT.
Another initiative that you can take to get repeat customers is to send exclusive combo offers or freebies only to your existing customers. SelluSeller, a SaaS product, enables you to easily send such promotions to customers and do much more.
Hence, if your product portfolio is awesome, your ratings and customer feedback are great, and you always honor your SLAs regarding the TAT, then customers will always want to buy from you, even if your product prices are higher than other players. If you look into these aspects and work on them, you will surely get repeat customers and it will not be too difficult for you to build your own loyal customer base.