How to Improve Purchase Frequency
Even if your store’s purchase frequency is high, there’s always room for improvement. Like any other strategy, retention marketing operates with a “more is more” mentality, and more customers making more purchases translates into more money in your pocket.
Here are a couple of ways you can effectively improve your store’s purchase frequency.
Start a Gift Card Program
Gift cards are an effective way to increase purchase frequency because they create a switching cost that makes it difficult for them to choose a competitor in the future. By offering customers points or coupons, you motivate them to purchase more often in order to earn valuable rewards. This becomes a profitable exchange for both you and your customers: they get more value each time they shop, and you benefit from their repeat business.
You can quickly establish this switching cost by giving customers a card when they shop the first time or using it as a business card. When they see how easy it is to earn rewards, they’ll be excited to come back to your store online to do it again. If you’re store is on Eshopoly, you can easily establish this with additional services.
Send Follow-up Emails
If purchase frequency is the backbone of retention marketing, email marketing is the backbone of retention tools. Emails give you the opportunity to continue building a relationship—and purchase intent—with your customers before and after their initial purchase. It’s critical that each message you send adds value to your customer’s experience. If it doesn’t, you run the risk of losing them.
A great to way to do that is with follow-up emails. A week after a customer’s first purchase, send them an email that once again acknowledges their purchase and thanks them for it. This type of acknowledgment helps customers feel good about their decision to buy from you and makes your brand more approachable.
You can make this initial email even more impactful by recommending a couple of products that compliment what they bought in that initial purchase. If you really want to take this strategy to the limit, you can even start including customer reviews as well. These endorsements will increase both the value of each recommended product and the customer’s desire to buy.