Why do you need post-purchase offerings?
Customer acquisition cost is a critical metric for ecommerce and retail. It helps you to determine whether or not your marketing budget is being used effectively and efficiently when it is referred to in conjunction with average order value and customer lifetime value.
It is vital to have strategies to maintain and nurture your customers. Once acquired, a customer is your business’s most valuable asset – an endless stream of revenues. The bottom line on increased customer retention is increased profits.
High retention rates
Cunsumers buy more from brands they’re loyal too more often, and they tell their friends and colleagues about those experiences, which helps drive advocay and free referrals.
The post-purchase offering purpose
Increase repeat purchases. A successful post-purchase strategy has the ability to influence customers to re-automate purchase.
Higher post-purchase engagements. Enable users to engage with your content, which can serve as a gateway to re-purchase.
Drive more customer referrals. Loyal post-purchase customers can refer others and recommend your brand, product, or service to other people.
Leverage your expertise
Leverage your product expertize by offering great product content with amazing (digital) customer service, and relevant offerings for accessories, spare parts, and refills can make your brand stand out from the fat cats of online retail. If customers are able to engage with you pre, mid, or post purchase, it’s more than likely this will play an added benefit when looking to re-purchase goods within your e-commerce offerings field.
Including more than what a customer ordered is always an exciting surprise. This will make customers valued when they buy products from you. This little extra can be anything, from a lollipop right down to a targeted discount off their next purchase. Most importantly, it gives customers added value that will bring your brand to mind the next time a consumer needs your product.
Components of a strong post-purchase offering
Your need the ability to drive upselling and cross-selling in relation to the product the customer has bought from you. Accessories, spare-parts, and re-fills are vital part of a post-purchase commerce strategy.
You need to tools to expose and deliver your product expertise to your customers. Maybe you also want to enable your consumers to leverage community driven product knowledge as well.
Having the the ability to build retention flows around your products to trigger re-newal offerings, reminders, or just checking in to see that everything is working fine, is a great way to stimulate loyalty.