Listen to Audio Ecommerce shows a healthy growth trend of around 44% in the US alone. Buyers spent over $ 861 billion online and the growth has not bottomed out. Continue Reading
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Ecommerce shows a healthy growth trend of around 44% in the US alone. Buyers spent over $ 861 billion online and the growth has not bottomed out. If anything, it is on the upswing.
Ecommerce operators can sit back smugly and be content with what they have. However, this is not the time to be complacent as there are more entrants on the scene and online marketplaces outdo each other to lure customers.
If your customers go away it could hurt your revenues. Customer retention is important. The chances of selling to an existing customer are about 70% and 80% of profits come from 20% of existing customers.
The cost of new customer acquisition is high, costing 16 times more to bring in a new customer and get them to keep buying. Just a 2% increase in customer retention can reduce e-commerce operational costs by 10%. Given these figures, it is important for e-commerce to adopt an omnichannel strategy for customer retention by using omnichannel contact center software.
Deliver excellent experience to existing customers
With so many thousands of customers, e-commerce operators may assume so what if a customer drops away due to poor service? Not so. Poor service gets you poor reviews, often voiced on social media channels and amplified through reviews. Why give them a chance to express negative opinions.
The contact center software helps you notice such complaints, first in the IVR message and then, if you use the omnichannel features, across social media. You have multipoint service delivery avenues to redress any grievance. Importantly, such resolutions can be posted on Facebook and Twitter. Conversations can be carried on through Whatsapp in the audio mode or audio-video mode. Satisfied customers will recommend you and stick with you.
Cross-sell, upsell, and deals
The omnichannel contact center software is like a Swiss army knife marketing tool in the matter of campaigns to upsell and cross-sell. Just set up the SMS/voice broadcast feature to send out such offers to existing customers.
Of course, you can also target new customers in the same campaign but when you approach existing ones with deals and offers, the response rate is likely to be higher. The same offers can be seeded through other channels such as email. Head over to social channels through the same single user dashboard and spread the word. You get noticed. You receive responses and, on social channels, possibly referrals.
This means planning such campaigns carefully. CRM integration plays a crucial part in identifying customers, preferences, geographic areas, past history of purchases, and other details to let you precisely target products and offers.
It is good to have a single toll-free helpline but not so good if it works only during office hours. Customers may call at any time and some may prefer to send SMS or email or just use Whatsapp or Facebook. What would you do in such cases? Delays lead to churn.
Omnichannel contact center software improves customer retention by always letting you be available on any channel. The IVR could be the starting point or endpoint but it is just one variable that includes other channels as stated above. Reach out and respond to customers on the channel through which they initiate contact. The first call could be the resolving call. Somehow it makes them feel happy to get issues resolved at one stroke.
Interactive, not reactive
A phone call is interactive but it is between two people: the agent and the customer. Look at social media posts such as on Facebook. You interact with a customer and that is viewed by a lot more customers and that creates a positive brand image. Interaction encourages you to appreciate customer interest, show them in a good light and make them feel good. Invite them to tell stories and relate experiences about you and your products. You build communities that connect and maintain connections – translating to more sales at reduced expenditure and effort.
These are but a few reasons to employ contact center software for customer retention activities through superior services. There is no room for complacency. Amazon occupied the top spot in the US with a market share of 43.8% in 2019 and yet it slipped to 31.4% in 2020 even as Covid led to a spike in e-commerce sales by 25% approximately. Shoppers preferred other online e-commerce operators that offered better customer interactions. Best Buy, for instance, jumped up from the No 10 spot to the No 5 position.
Call center software is a tool and gives you, among other things, intelligent analytics that, if used smartly, can help you craft strategies for customer retention and upsell. After all, it is not difficult or expensive to implement. Simply start with a hosted omnichannel call center solution and use its features to the maximum.