ecommerce Loyalty? YES indeed, Mr. Customer!

Transcription

1 ecommerce Loyalty? YES indeed, Mr. Customer! MAKIS THEMELIS Chief Digital & Commercial Officer QIVOS S.A.

2 About Me BA in European Studies / MA in International Business Relations 20+ years of professional experience C-Level Executive & Digital Transformation Specialist Success stories: ebay.co.uk, yell.com, xo.gr, xe.gr, goldendeals.gr, goldenbrands.gr, brandsgalaxy.gr, etc. Specialized in e-commerce / Digital Marketing Technologies / Omnichannel / Loyalty & CRM

3 About Me Fun guy to be with Proud father of a 7 year old son Pet Lover (Hector) Basketball Enthusiast Huge PANATHINAIKOS fan

4 Table of Contents 1. e-customer Acquisition vs. e-customer retention: the big challenge 2. The Role of Retention Marketing in e- commerce 3. 7 tips to Refine Customer Experience and drive customer retentions 4. Key takeaways

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6 01. e-customer Acquisition vs. e-customer retention: the big challenge

7 01. e-customer Acquisition vs. e-customer retention: the big challenge e-customer acquisition is one of the biggest and most difficult challenges that e-commerce brands face today.

8 01. e-customer Acquisition vs. e-customer retention: the big challenge Attracting a new customer is 5-7 times more expensive than retaining an existing one (Advertising costs, ad impressions, clicks, conversions, SEO techniques, etc.) e-customer retention needs to be at the top of your KPIs list and represents the key to e-commerce Success, building revenue and long-term growth.

9 02. The Role of Retention Marketing in e-commerce

10 02. The Role of Retention Marketing in e-commerce Building strong relationships with your customers is key to standing out in the increasingly competitive e-commerce world. Existing customers already know and love your brand and it is more likely to return to your e-shop and buy again. Retention strategies can transform your business and help you create customer experience (CX) excellence.

11 02. The Role of Retention Marketing in e-commerce Targeting existing customers, apart from being less expensive, it offers numerous unique benefits to online businesses. The more times a customer purchases from you, the stronger your relationship becomes. Loyal customers act differently than occasional customers and being able to UNDERSTAND their buying habits, demographic profiles and micromoments in their engagement with you, will help you keep them more engaged, devoted and, finally, maximize their lifetime value.

12 03. 7 tips to Refine Customer Experience (CX) and Drive Customer Retention in e-commerce

13 #1 Build a Unified Customer Retention Strategy 5 Key Steps to follow are: Be Consistent: apply your strategy across all the channels that your customers visit (e-shop, mobile application, social media, s, even brickand-mortar, etc.) and build trust. Build a Unified Commerce Model where the customer is, of course, the center. Personalize communication and engagement via Data Acquiring Techniques Visualize Set Retention Benchmarks & KPIs, such as: CLV AOV Purchase Frequency Visit Frequency

14 Did you know? 71% of consumers have ended their relationship with a company due to poor customer service. (Source: KISSMETRICS)

15 #2 Master Customer Service Customer service is about creating happy customers that keep coming back to you. Brand loyalty and Customer Service go hand in hand 4 creative tips: Start thinking the relationship with your customers as a continuous journey and not as a single action. 1. Build trust (treat them as human beings and not just as data points). 2. Listen to your customers Find 4 more (focus tips on >> their feedback). 3. Emphasize on your team (train the on what and why CX is valuable) 4. Delight your customers (go the extra mile & amaze them with your service)

16 #3 Invest in Marketing Automation Marketing automation tools enable you to connect with your customer with the right content at the right moment, delivering personalized and consistent experiences across all touchpoints. Marketing automation via: - (newsletters, etc.) - SMS - Viber / What s Up - Social Media (chatbots, etc.) Examples: Make real-time product recommendations during the e-store visit based on the specific customers preferences or even automated cart abandonment campaigns, along with a special offer or a discount to give incentivize accordingly

17 Taking your loyal customers for granted is risky as customers expect different treatment for being loyal and staying connected with you.

18 #4 Implement an attractive Customer Loyalty Program The prime objective of any customer retention strategy is creating loyalty. Loyalty programs are a huge help in e-commerce. Today s customers are always online, have access to more choices, and can easily switch to other brands. Basically, they have fewer reasons to be loyal than ever before. Top e-commerce businesses reinforce their marketing efforts for retaining their most loyal customers by investing in a customer loyalty program. A customer loyalty program is still one of the most effective ways to drive repeat purchases and boost brand loyalty. >>

19 #4 THE REWARDS MIX: Consumers aren t necessarily just interested in saving money. Enhanced customer service, mobile rewards and the ability to earn special treatment have become more important over the past few years Build an attractive customer loyalty program that rewards your customers for: writing reviews giving feedback hashtagging photos referring friends connecting on social media The best customer loyalty programs don t just engage with and reward shoppers when they make purchases they also give points, discounts, etc. for a variety of different actions.

20 Did you know? Almost half of web users expect a site to load in 2 seconds or less, and they tend to abandon a site that isn t loaded within 3 seconds. (Source: KISSMETRICS)

21 #5 Build a user-friendly site that converts Website design or frequent re-design converts visitors into customers and returning customers. Your e-shop is your main channel, so make sure that its performance is high; it loads fast and your content encourages engagement. User Experience (UX) is key. Some tips: 1. Make the navigation easy and the structure of your website clear (can find attitude within a few clicks). 2. Make additions that will enhance UX; add descriptions to your products, clear call to actions, along with useful and educational content. 3. Set a simple checkout process with several payment methods. Extra Tip: A user-friendly site means you have put the customer at the center of it and you understand the customer s unique needs. Content marketing is an effective way to enhance customer experience and drive repetitive visits to your e-shop.

22 #6 Focus on mobile moments & social media engagements Mobile presence Consumers rely on their smartphones as information, entertainment, shopping and life companions. Mobile phones are not just a technology device; they have become a personal hub of information & way of life where people spend time on daily. Social media engagements Use constantly social media to stay connected with your customers. follow or like is a sign of loyalty by definition Create engaging content for your social media accounts and determine the right time and frequency to post. Tips: Leverage mobile moments to reach your customers successfully and create meaningful and lasting connections with them. Use retargeting ads to reach current customers & visitors of your e-shop. It is an effective retention tactic that when used right, can increase retention rates.

23 #7 Optimize your strategy The key to success is to test and measure all your efforts during the customer retention process. Hence, - Optimize your strategy often and deliver A/B testing campaigns to determine which message works best. - Invest in technology, such as an advanced CRM platform to get a deep activity and insights on your customers and monitor their impact through custom analytics and reporting. By understanding customer behavior and preferences, you will be able to make personalized communications with them and boost customer engagement.

24 04. Key takeaways

25 04. Key takeaways E-Commerce Loyalty!! CERTAINLY YES!!!! While e-customer Acquisition is very important, e-customer Retention is vital for online businesses and it involves examining the entire customer journey in a new, unified way. Understand, Personalize, Execute Utilize the 7 e-customer retention tips effectively and they will help you successfully reach your existing customers and create unique user experiences. Find the right mix of acquisition and retention for your online store

26 WHO WE ARE AN AWARD-WINNING MARKETING TECHNOLOGY AGENCY Loyalty Agency of the year specialized professionals 3.5M Revenue 25 customers in 8 countries Our own technology COPYRIGHT QIVOS 2018 ALL RIGHTS RESERVED

27 W H AT W E D O We help omnichannel retail to optimize multiple sales channels and bridge the gap of online and offline customer journey by creating a persistent, unified, single customer profile. WE I N C R E A S E _ C U S TO M E R L O YA LT Y COPYRIGHT QIVOS 2018 ALL RIGHTS RESERVED

28 T H E Y T R U S T U S IKEA COPYRIGHT QIVOS 2018 ALL RIGHTS RESERVED

29 COPYRIGHT QIVOS 2018 ALL RIGHTS RESERVED

30 Thank you! LONDON ATHENS HONG KONG