3 Strategies for Boosting E-Com Holiday Sales
As the Easter holiday approaches, E-commerce businesses are preparing for the festive rush. Amongst the springtime festivities, it’s crucial to focus on strategies that not only attract new customers but also retain and maximize the value of existing ones. Research has shown that acquiring a new customer can cost 5 times more than retaining an existing customer.
Customer Lifetime Value (CLV) remains a crucial metric that determines the long-term success of any business. Let’s explore three powerful strategies to enhance CLV and boost your revenue during this Easter season.
Strategy 1: Well-established Interplay between Online & Offline Customer Engagement
Integrating online and offline customer engagement is crucial for businesses looking to enhance Customer Lifetime Value (CLV). This integration benefits customers by creating a seamless and cohesive experience that not only drives immediate sales but also fosters long-term loyalty.
Target to provide a once-in-a-lifetime shopping experience for your customers. Let’s look at this real-life example from a cosmetic company:
1. Claiming a Free Cosmetic Kit at the airport
Set a robot at the airport. Outbound tourists can claim a free cosmetic travel kit from the robot on their own by providing their contact information. (e.g. name, email address, depart and return date, destination)
2. Educational eDMs to keep the connection
During their trip, send a series of eDMs to guide on using the cosmetic products in the kit. Tailor the content based on the tourists’ location, for instance, suggesting more frequent product application in low humidity areas like Egypt.
3. Discount Offers towards the End of the Trip
Send eDMs with end-of-trip discounts on product purchases. After purchase, customers receive an SMS reminder to collect products from the airport robot upon return.
A complete journey that merges online and offline experiences perfectly.
By evolving beyond the traditional customer-brand relationship and becoming a travel companion for your customers, you can cultivate a meaningful bond that drives long-term loyalty and boosts CLV. While integrating online and offline customer engagement may appear intricate, leveraging marketing automation tools can streamline the online process, saving your employees 6-9 weeks of effort annually and freeing up time to craft compelling, high-value marketing campaigns
Strategy 2: Retargeting through Behavioural Tagging
In a cookieless world, first-party data holds significant importance for businesses, particularly with Chrome’s announcement to join Firefox and Safari in phasing out third-party cookies by 2024. As businesses gather valuable first-party data from diverse channels, how can they optimize their customer contact data to its fullest potential?
By Behavioural Tagging.
By capturing and analyzing user behaviours during communications via multiple channels, such as clicks, content consumption time and purchase history, e-commerce owners can gain deep insights into customer preferences, interests, and intent. This enables the data-driven creation of personalized marketing campaigns on an individual level, leading to improved customer engagement and loyalty.
Let’s take a cosmetic brand as an example again. How to apply behavioural tagging to cosmetic e-commerce?
For example, a cosmetic brand used behavioural tagging in the 4 WeChat broadcast messages sent in the past month. Sarah showed interest in the “Spa Experience” category as she clicks on it for 3 times but not in “Body Lotion” with zero click. In the next email, the focus shifted to “Spa Experience” instead, while “Body Lotion” is replaced by other topic.
By tracking clicks and adapting content, businesses create personalized experiences, showing attentiveness to customer needs and enhancing customer lifetime value (CLV).
Strategy 3: Proactive Customer Support
Research from Gartner has shown that being proactive in addressing potential friction points during the purchase process can significantly improve customer satisfaction and retention. By taking proactive steps, such as setting up an AI chatbot to assist your customers, you can build long-lasting relationships.
81% of consumers want more self-service options, yet only 15% of consumers expressed a high level of satisfaction with available tools. Well-designed self-service tool is the key factor differentiating between brands.
A well-designed chatbot helps you streamline routine inquiries, saving time for your valuable customers and your employees. For instance, leveraging the WhatsApp Business API chatbot empowers customers to inquire about various aspects—membership scores, VIP store, and more. Instant responses from chatbots significantly enhance customer satisfaction. Imagine the convenience of swift answers, available round the clock.
According to RADICA’s data, 90% of the time is saved with a chatbot, when compared to handling customer inquiries without a chatbot. Enhance customer satisfaction and save valuable time to address critical issues, ultimately boosting overall CLV. Why not take this chance to turn one-off customers into loyal VIPs with proactive customer service?
Conclusion
Boost CLV this Easter with 3 strategies: interplay between online & offline sales, retargeting through behavioural tagging, and proactive customer support. RADICA, with experience working with 300+ global brands, has the solution for you. Contact us for a free consultation and let’s create a revenue-boosting success story together.
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About RADICA
RADICA is a Hong Kong leading email marketing solution provider dedicated to accelerating revenue and maximizing customer connection with customer engagement solution in B2B, B2C and E-commerce industries. With RADICA’s advanced onmichannel marketing automation platform RI+, it is much easier and effective to spread out cross-channel messages with automated and personalised journey, even with high volume within short period of time. Our clients ranging from luxury, banking and insurance to food and beverage like Chanel, BEA, LEVI’s, Chow Sang Sang and Starbucks. Since 2000, RADICA as the leading email marketing and CRM agency in Hong Kong have focused on growing the value of their customer database by making wise use of data analytics in direct marketing. Learn more Radica Systems Limited at www.radicasys.com.
