Building Customer Loyalty Through Your Return Policy

Building Customer Loyalty Through Your Return Policy

  • You have a 60-70% chance of selling to an existing customer, while you only have a 5-20% chance of selling to a new customer. Loyal customers also spend more per order.
  • The cost of acquiring a new customer can be from five to 25 times higher than keeping an existing customer.
  • 78% of loyal customers tend to recommend the brand that they love to others.

A loyal customer who returns to your store is much more valuable than a new one.  The key is to create a relationship between your e-shop and buyers. How? By creating great shopping experience, including great return policy. The most successful online stores like Amazon or Zappos built their entire business on fast shipping and easy returns. They wanted to create a strong relationship with their customers.

Online retailers hate returns and their customers hate them, too. However, the truth is that almost 30% of all products ordered online are returned. High return rate isn’t always a threat to your company. You just have to know how to deal with returns effectively and how to turn them into your advantage. A today’s customer is looking for an easy, fast and cheap return process. Price won’t be soon the key to differentiate your online store from others. And if you provide an excellent customer service, including perfect return process, don’t be afraid to charge more. 86% of buyers are willing to pay more for a better customer experience.

  • Be fast. 80% of buyers want easy and fast return process.
  • Make your great return policy visible. 60% of customers are satisfied when return policy is easy to find.
  • Offer free return shipping. 68% say free return shipping is a key to a positive return experience.

With more than 60 % of buyers who consider e-shop’s return policy before making a purchase is a good return policy crucial to all online stores.

Karolína Alvaradová – creates a perfect return process at Retino

How Social Media Influences Shopping Behavior of Millennials

How Social Media Influences Shopping Behavior of Millennials

The generation of millennials is different – more than 70% of those born between 1980 and early 2000s are active on social networks.

Millennials grew up in a technological boom and use social networks not only to read news and chat but also to be updated with the last fashion trends and to search for products that they want to buy.

50% of millennials say that their purchase decisions are influenced by social media. We live in a digital world. Buyers enjoy reading online reviews which now seem to have the same power as personal recommendations. 85% of buyers trust online reviews as much as personal recommendations.

Millennials are active in writing about their own experience – they are not passive readers. Which is good because people are more likely to buy a product which was recommended by someone else. They don’t stick with Facebook, they use Instagram and Tumblr. Buyers who use social media to help to shop during or before going to a store are 29% more likely to make a purchase the same day.

Customers pay attention to social media. So if you want to meet a today’s customer expectations you should start building a relationship through social media.

How to build a relationship through social media?
  • Allow your customers to buy things right through your social media page with a buy button to make the buying process simple.
  • Encourage them to write reviews about your e-shop.

Are you afraid of bad reviews?  Turn them into your advantage. Check all reviews and answer them to show that you care. Even a bad review can help you to increase awareness about your store.

To sum up, social media definitely influence buyer’s shopping behavior. If you haven’t started communicating through social media yet you should start right now. With 46% of buyers looking towards social media when making a purchase, social media is a powerful tool to increase your sales.

Karolína Alvaradová – creates a perfect return process at Retino

How to Create a Successful Online Store

How to Create a Successful Online Store

Today, it’s easier than ever to launch an online store. However, the whole process of creating a successful e-shop is a challenge. Today’s customer has access to a global e-marketplace, which is full of options.

You need to stand out in a crowd of competitors during every stage of a customer journey. Customers don’t buy  because of price alone. There are more effective ways to attract your customers and make them loyal to your e-shop.

Design of your online store

About one half of online shoppers won’t return to an e-shop if they find it unesthetic. The web page design belongs to the top factors while deciding a purchase. While creating a web page you should think of a good navigation – to provide your customers an easy travel throughout the entire website. You should also keep in mind that a brand consistency is important – make your brand easily recognizable.

Product reviews

People want to know everything about a product that they are willing to buy. They are reading reviews more than ever. 63% of buyers are more likely to make a purchase from online store which provides online reviews. So they don’t have to search for the products reviews somewhere else.

Related products

Do you want to increase sales? Show your customers related products – products that other people have bought together or things that just look great together.

Easy mobile buying process

Mobile traffic accounted for 50 % of visits in the last holiday season. Smartphones are becoming the most powerful tool when searching for a product. On the other hand the number of shopping cart abandonments is much higher while using a phone. How is that possible? Maybe there are more buyers who are searching on their mobile phones. Or maybe the whole buying process is not as highly optimized to smartphones as it should be.

Great customer experience

By 2020 customer experience will overtake price and product as the key brand differentiator. 86% of buyers are willing to pay more for a better customer experience.  Customer experience is important. It improves customer satisfaction, reduce customer churn and increase loyalty and sales.

6 Tips to Reduce Shopping Cart Abandonment

6 Tips to Reduce Shopping Cart Abandonment

Almost 70 % of online shoppers don’t complete their purchase. The number of cart abandonments is increasing and becoming one of the most serious problems for online retailers. There are many reasons why people don’t complete their purchasing journey. We will discuss the reasons and give you tips how to encourage your customers to buy before leaving your online store.

The top 3 reasons why customers don’t complete their purchase are “extra costs”, “the site wanted me to create an account” or “too complicated checkout process”. There are many other reasons why customers are not satisfied with the buying process and leave your website before buying. Here are some tips how to reduce the shopping cart abandonment.

Keep the shopping cart visible

20 % of buyers who don’t complete the buying process want to save their items in a shopping cart for future consideration.  The best option is to place a shopping cart icon in the corner of your website.

Scarcity

Scarcity will encourage your customers to buy now. A great example how to show your customers that they have a last chance to buy a product is to show how many products are remaining. If they see there is a last unit of a product, they won’t waste time and will buy it faster.

Offer free shipping

44 % of buyers who abandon their shopping carts do it because of extra costs like shipping costs or return shipping costs. Offering free shipping is a way how to stand out from your competitors and encourage your customer to buy from your online store.

Easy guest checkout

Don’t ask your customers for creating an account before the checkout. It will slow down the process. It is better to ask them in the end when they already have completed their purchase.

Use exit-intent popups

Exit-Intent Popups appear when a customer is about to leave your page or shopping cart. You can stop him from abandoning his cart by providing more information about his purchase or offering a deal so they won’t leave your page. For example: “Don’t go, get 10 % off if…

LiveChat

Buyers have many questions when buying a product. They usually aren’t 100% sure about a purchase. Use a live chat to help them with their purchase completion.

Karolína Alvaradová – creates a perfect return process at Retino