How Consumer Financing and Other Tools Can Help You Retain Customers After the Festive Season
Another year of business, another festive season to attract new buyers. You are bound to have deployed marketing strategies and marketing campaigns to draw the attention of consumers this holiday season, but have you considered how to retain those customers moving into the new year? This is critically important as customer retention is more affordable than customer acquisition. If you are not yet sure how to improve your customer lifetime values in 2022, then check out this article on how consumer financing and other tools can help you retain customers after the festive season.
Integrate Consumer Financing for More Sales
Consumer financing from ChargeAfter is one of the most effective integrations to improve sales and retain customers in the new year. If you are not aware of consumer financing already, then it is high time you consider implementing the powerful strategy in the new year to improve your customer lifetime values. With consumer financing, your consumers have access to on-demand financing at the push of a button during checkout without having to leave your store. They do not need to chat with their financial service providers to acquire a loan, pay extensive interest on their repayments, or apply for a credit check. This ensures that more consumers are able to access funding when shopping with your eCommerce platform and facilitates customer retention by giving your shoppers a reason to shop with you again.
Remarket With Powerful Advertising Campaigns
Many eCommerce brands continue to run advertising campaigns for new audiences. But, there is much to be said about remarketing campaigns that target consumers who are already aware of your brand. This is an incredibly cost-effective advertising strategy as it is easier to win over consumers with an understanding of your brand than it is to attract completely new buyers to your store. Remarketing campaigns are possible with social media advertising, Google display ads, and several other marketing channels. They allow you to target customers that have shopped with you before, helping you leverage consumers that may have not purchased your products in quite some time.
Offer Incentives and Loyalty Programs
Incentivisation and loyalty programs are used by many eCommerce brands across industries because they are easy to implement, affordable, and beneficial. They improve sales by encouraging shoppers to become engaged customers that continue to return to your store for more. You can offer discounts and other forms of incentivization to loyal brand consumers who can drive up average order volumes and values after the festive season.
Make Email Marketing a Priority
There are likely thousands of untapped consumers that belong to your email database that isn’t shopping in your store. These could be consumers that subscribed to a newsletter years ago or people that have shopped once and not again. Either way, you can use email marketing to attract individuals that have already expressed an interest in your brand and the products or services that you offer. Using tools like Mailchimp, email marketing can be a great avenue for increasing customer retention as it allows you to jump directly into the mailbox of valuable warm leads. You can entice purchases or clicks to your website with clever headlines, great resources, and discounts or promotions during your email campaigns.
Customer retention is critical to eCommerce success after the festive season, especially considering the influx of new buyers to your website during the holidays. To drive greater return on investment with your customer retention strategy, you can integrate consumer financing from ChargeAfter, remarket with advertising campaigns, offer loyalty programs, and utilize email marketing.