9 Steps To Increase Customer Retention And Customer Life Time Value For Sale

how to increase customer retention and lifetime value

Keep customers coming back to any website is the lifeline of any service. Today, We are going to tell you how to increase customer retention and improve customer lifetime value in OpenCart. This is also true for the OpenCart website. OpenCart has many modules that can use to get more customer retention. This guide will help you to improve customer retention.

Our list is consists of various extensions ranging from improving product page to giving gift coupons for increasing sales. An extension is ranked by their usage and how they affect customer lifetime value. Here is a list of extensions.

1. OpenCart newsletter module:

Use the power of your subscribers as an audience anytime or on an occasion. Offer them values through emails and increase sales in your store. This module helps the store to make a list of interested subscribers’ emails.

It also lets the website to send emails from admin. Moreover,

Benefits: 

  1. Let the customer know about new products and information.
  2. Tell them for new offers is going on. They can purchase products at low cost
  3.  If customer keep coming back to the website means sale growth will increase rapidly hence customer lifetime value also increase

2. Social login and share

The social website is far improved and gaining new users by 500% every year, because of the increasing internet to most of the people on earth. People are used to clicking on posts present on their feed.

It is also proved by many types of research, people are addicted to using social networking websites. And spending more than 1 hr every day.

Benefits:

  1. Easy to create account and customer can log in by single click
  2. Get new customers every day by posting products information
  3. Doing fewer efforts gives the website awesome measurable results.

You can use OpenCart Social Login Module and social share extensions

3. Personalized products increase customer retention

Ever wonder, how Big companies like Amazone, Flipkart, Alibaba, and others make huge profits by selling millions of products every day? The answer is only one that is PERSONALIZATION.

If you are unaware of what is personalized term means, Then let me explain to you with example. Suppose you like T-shirts and frequently buy them. Then a website where you bought the t-shirt will show you a similar product of T-shirts like, Pants, Jeans, shows, and other stuff that other people buy with a t-shirt before.  This way, the program encourages people to buy more products

Spets To Follow

  1.  Use the A.I. program within the website to show similar products. Take the help of leading companies who provide A.I. for an e-commerce website.
  2. Always track sales product data and make changes in the program to get better results.
  3. Keep checking customer behavior and let them feel comfortable by showing only interesting products.

4. Cashback and points after purchase add customer lifetime value

Cashback is one of the best ways to grab new customers in a small period of time. A small amount paid to a customer by the website. This program provides you cashback offers on E-commerce websites like Amazon, Myntra, Swiggy and many more if you shop via ICICI Cashback Deals section. It helps you save on all your regular online purchases across top shopping websites.

Steps To Follow

  1. Giving small cashback i.e. money into account either on creating an account
  2. Or giving a few points on every purchase, points can use for the discount in the next purchase
  3. Create a strategy for points and cashback to grab new customers.

Use OpenCart cashback module for 2x and 3x versions for your website.

5. Offer Discount

opencart bulk and first time discount module

Many websites and offline stores giving a discount to increase sales. It is applicable to all kinds of physical and digital products and throughout the year.  Offers attract new customers and sales.

Keep your margin or profit low on products and giving products to low prices or giving discount coupons will make your work easy. That’s why e-commerce companies like Amazon, Alibaba, Flipkart and Digital product selling companies like Google, Microsoft, and SEO companies always giving a discount to new customers.

Offer can be given by various modules like offer module, first time discount, bulk discount on every sale OpenCart. Use one of these modules to give offer new customer on first purchase. It will encourage customer to buy the product instantly.

6. Push notification for new products and blog post

push notification for e-commerce

push notification is one of the best ways to deliver new content, offers, products to the customer’s within few mins to hr. Push notification creates a simple way to reach the customer on their computer and mobile instantly.

It consists of Image, title, description, a link of the website where the customer will land. Also, it can include UTM code for tracking the customer to behavior analysis. Thus, if the customer likes to read the whole article or get more information on products then they will click on the link for sure.

Steps To Follow

  1.  There are many websites services who provide push notification delivery. Some are free and others are paid services, and also few websites charge user base cost. Find the best suitable website for yourself. I recommend Subscribers.com
  2. Write eye-catchy titles and descriptions
  3. include the best image for getting attention.
  4. Add UTM code to know how many customers came and track their behavior
  5. Repeat the above steps.

7. Crose Sale and up Sale

Crose and up sale is an old technique used by sales-person to sale their products offline. But This technique is still giving the best result when comparing with new strategies made by sales teams.

Let me explain about them, in simple words. First we ill go with

Crose Sale: Products are sold with each other. On the product page, we see many similar products with one we are looking for. Also, the heading plays a crucial role.

For example, Customer bought together By Amazon. By reading, People things others are buying them together, these products must be used together or should be. This way, you can sell more products to one customer.

Up Sale: When customer purchased the products from your website then your website offers other product that has a higher price with a similar product range. Then this technique is called Up Sale.

Steps To Follow

  1. You can go with manually if your website products are less then 100. Tracking and analyzing sales history is easy. Else go with A.I. services that will do the tracking to creating recommendations work for you itself. Also making changes in time to time when it needs.
  2. For Up Sale, you can use the 1st point. Also, train your customer care representative for this.
  3. Always keeping eye on the result. Make changes if you think required to get a better result.

8. Easy and painless return policy

When it comes to buying the products online, one thing always comes to mind is what if the product is worthless or broken or not the same as shown, Can we return it?

Yeah!! this is one of the main things, where companies working that’s why Amazon increases its return policy time from 15 days to 30 days. And Flipkart also working one return policy.

So giving your customers an easy return policy where people do not think twice before buying the product is good enough to give a boost to sale.

Steps To Follow

  1. Consult with partners, shipping companies and finance departments to make a decision on how many days people can return the product and create on which condition return is applicable.
  2. If possible do some minor changes into the existing return and privacy policy to give eas to buy.
  3. always keep eye on sale history and upcoming events and your financial status if you can afford the return policy or not if yes, Then how many months you can go with a new policy if anything goes wrong.

9. Use retargeting and other advertising strategies

 

OpenCart Customer re-targeting

Customer retargeting is one of the easiest ways to get an old customer back to your website. It makes everything easy as companies do not need anything manually. All the work is done by A.I. but yet analyzing to do by professional.

Use Social networking websites, search result and other ways to make retargeting strategies. Because these strategies take a high amount of money to spend. Also, the result coming after some time. That’s why I listed these strategies in the last. This also helps the business to improve customer lifetime value, thus management can create a new effective sale plan. By increase customer retention toward your website shows you had created nice plan.

Steps To Follow

  1. Use Social, Google, Mobile app ads to target the people
  2. First, get the existing customer or user information like email id or geographic data or behavior data. This data is the primary step for retargeting.
  3. After getting this information, submit to ad service.
  4. Also, enter as much information about the customer as you know. It is better to understand the customer to get the best result.
  5. Now run the campaign, watch the result.

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