Brands must continue to try out unique and creative ways to cultivate loyalty for customers in online shopping.
Let’s begin with a question – Are customers browsing on an e-commerce website ready to
buy? Probably not, people are only comparing and looking for differentiators.
Customers today have a variety of choices. Many brands provide opportunities to purchase
on which consumers have a resemblance to their commitment to sustainability and
guidelines on how to purchase. Options like recurring subscriptions or “2 hours delivery” are reshaping the buying process for modern consumers.
Even if the audience enjoys a variety of options, the e-commerce organizations are actively
competing for brand loyalty in a vastly competitive space. Hence, dedication to consumer
care and innovation is setting up new standards for the e-commerce ecosystem. And
implementing them, the market leaders are ahead of thousands of companies in this sector.
According to a study by Frederick Reichheld from Bain & Company indicates that increasing customer retention rates by 5% can result in profits increase by 25% to 95%.
Thus, it validates that more time spent in designing loyalty programs won’t be a misspend. Also, generating new customers should not be the only focus in this regard. Bigger e-commerce brands generally have a dedicated loyalty team, but the remaining companies need to rethink initiatives and simultaneously bring back existing consumers.
Businesses need to realize that consumers can raise their voices and share them on various
platforms. In this modern era, product reviews are a primary factor before buying.
According to eMarketer, it is the third most important factor in purchasing decisions.
Prominent brands like Amazon instantly request reviews from the buyers, and thus, there is
no action needed from the sellers’ side. However, in the case of negative reviews, brands
need to respond quickly with assurance and avoid automated replies. With this future
customers can get the reassurance of issues getting solved.
Thus, acting upon reviews and monitoring brand loyalty trends has a significant role to play. Similarly, search engine optimization (SEO) should not be only about having a brand’s
products/service at the top of the search results. As per experts, prioritizing SEO needs to
have a distinct understanding of what keywords buyers are using and where peers are
winning. Simply put, it is vital to understand that gaps in the strategies are highly exploitable– thus knowing brands’ own keywords and of competitors is a must.
There are different ways to increase conversation rates, like incorporating compelling brand
messaging to steer loyalty, and content marketing has a major function here! With good content, merchants can communicate the uniqueness of their brand and helping prospects
to learn, connect, and engage more.
