One of the most important, yet under-leveraged strategies to grow ecommerce revenue is focusing on customer retention--how often customers order from you, and over what period of time. Of course, the more customers order, the higher the customer lifetime value. Alex McEachern is marketing manager at Loop Returns, and has spent years focusing on customer retention for ecommerce brands. In this conversation, we discuss: - How to drive retention through strategic emails and continued value - How to create, and measure the effectiveness of a loyalty program--and how it can drive incremental revenue - What the benchmark is for ecommerce returns (hint: roughly 1 in 5 purchases will result in a return) -- but how you can use this as marketing opportunity As the ecommerce landscape becomes more competitive (lower barriers to entry, global competition, and more options to purchase on marketplaces like Amazon), the importance of retaining existing customers will only magnify. Alex shares a lot of nuggets of wisdom on how to tactically approach retention marketing for ecommerce.
Links mentioned in the episode:
Loop blog - https://loopreturns.com/blog/
The Exchange - https://podcasts.apple.com/us/podcast/the-exchange/id1536470143
Benchmark Report - https://loopreturns.com/the-ecommerce-returns-benchmark-report/
Spark Retention blog -